1.
I have spoken with various individuals who have
said they would buy my product.
a.
Valuable: These people could be the first buyers
of my product and be spokespersons for it.
b.
Rare: This isn’t rare since there will be many
people out there who would buy the product. But since I know these people, I
think they would be likely to help promote the product.
c.
Inimitable: They each have unique experiences.
d.
Non-substitute: Other individuals who would buy
the product that I have not spoken with could provide this resource as well.
2.
I was a cheerleader from the time I was 7 to 16
so I know a lot of young women who would benefit from this product.
a.
Valuable: I still talk to many of the girls, so
I could use this to get their ideas for the product and sell it to them.
b.
Rare: It’s not rare to be close to friends from
sports and school.
c.
Inimitable: Others could also be very close to
people from sports.
d.
Non-substitute: Other individuals that I am
close with could provide this.
3.
I am a Psychology major.
a.
Valuable: I have knowledge that can help me figure
out why women would feel the need to have my product.
b.
Rare: Not everyone has as much experience in
psychology.
c.
Inimitable: Other psychology majors would have
close to the same knowledge.
d.
Non-substitute: Taking more psychology classes
and furthering my education would provide me with more resources.
4.
My parents and grandparents are entrepreneurs.
a. Valuable: They can provide me with
information that would help in starting my
business
and keeping it going.
b. Rare: I think it is rare because not many
people have parents and grandparents that are entrepreneurs and have owned businesses.
c. Inimitable: Others may have entrepreneurs
in their family, but they aren’t going to get
the same exact information.
e. Non-substitute: I could talk with other
entrepreneurs or google information, but it wouldn’t
be as personal.
5.
I have good credit.
a.
Valuable: I would probably be able to get a loan
for my start up easily.
b.
Rare: There are others who have good credit, but
not everyone does.
c.
Inimitable: Some people have a lot of trouble
with finances, but I have always been good with saving money.
d.
Non-substitute: There are places that will give people
with bad credit loans.
6.
I have taken a business class in the past.
a.
Valuable: I obtained a lot of information from
the class that would help me start a business.
b.
Rare: It’s not too rare. There are many people
who take business classes.
c.
Inimitable: I had a great professor who provided
a lot of information and made it easy to remember.
d.
Non-substitute: My friend and I did a business
project and there isn’t any substitute from what I learned from that.
7.
I have new knowledge of social media after
reading “The Art of Social Media”
a.
Valuable: Reading this book gave me more
knowledge on ways to promote my business and use a blog to share ideas and gain
followers.
b.
Rare: Anyone can read the book.
c.
Inimitable: Not everyone will want to read the
book or even know about it to be able to read it.
d.
Non-substitute: This book had much better
information than what is available from a google search.
8.
I am passionate about my product.
a.
Valuable: Being passionate is important because
it will get customers interested in it.
b.
Rare: I think entrepreneurs are usually
passionate about the products they promote.
c.
Inimitable: I have felt scared while being in
public alone which is the reason that I chose to create this device. I knew
that other women had to be feeling this way too.
d.
Non-substitute: Passion is something that can’t
be manufactured.
9.
I live in Jacksonville with Amazon nearby.
a.
Valuable: With Amazon recently adding locations
to Jacksonville, this could be valuable because I am planning on selling my
product through Amazon.
b.
Rare: I don’t think it’s that common to have
Amazon in close proximity. One of the warehouses is 10 minutes away from where
I live.
c.
Inimitable: It’s not necessary to live near
Amazon but I think it’s a plus.
d.
Non-substitute: Walmart and Target could be
potential places that I would sell the product.
10. My
product is unique.
a.
Valuable: This is valuable because it could help
my product sell.
b.
Rare: There aren’t any competitors that offer
all of the features that my device does.
c.
Inimitable: Someone could design a similar
device that would be a competitor.
d.
Non-substitute: Some people are fine with using
their phone to call 911, some have other forms of protection, and some feel
they don’t need protection at all.
Brandi,
ReplyDeleteAs I see your majoring in Psychology, this concept is certainly unique for many reasons. This is something that could be a secondary business to a practice if you plan to council or a full on business if you so desire. Because you mention that your passion is your most valuable resource, I can see that your overall goal is to solve the problem associated with woman in danger. I am interested in understanding the big picture of your concept and how you would see yourself implementing it. Very well thought!
You have great resources, and analysis of them! I'm sure you feel fortunate to have the Amazon warehouse that is now in Jacksonville. I agree with Brandi in her comments regarding council plus complementary product. It's clear you are passionate about the problem behind your product, and in providing a way for women to feel safe, and have the resources to really move forward with this successfully!
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