- Hardworking
- VRIN: This resource is important because an entrepreneur can’t succeed if they are not fully committed to their product and not hardworking. Hardworking gets a business where it needs to be.
- Marketing experience
- VRIN: Having marketing experience will benefit a new product because the product will be strategically advertised to the target audience.
- Social media experience
- VIRN: Having social media experience is very good for marketing and a new product. Although a lot of companies use social media I will creatively use social media to reach my target audience.
- Outgoing
- VIRN: It is important to have an outgoing personality because in order for a business to succeed you have to talk to a lot of people and make good connections. In order to maximize effectiveness one needs to be outgoing to solidify these relationships. I think being outgoing is something you have or do not have.
- Experience with shopping
- VIRN: I have experience with shopping first hand and experience the problems my customers face, so I will be able to give them exactly what they want.
- Optimistic
- VIRN: I think it’s extremely important to be optimistic, especially when starting a new business. I think there will be a lot of obstacles along the way so it’s important to stay optimistic. I think most entrepreneurs are optimistic because if they weren’t then most likely their product would not have succeeded.
- Mobile App
- VIRN: Our product is an app so customers will be able to take the product anywhere with them. Not every product is mobile, so this definitely gives our product an advantage.
- Easy to use
- VIRN: The app is extremely simply to use. Every store in a 20 mile radius of you is on the app, so there is no need to look at other places. Also, all customers have to do is select their product and then select if they want to be pick up the product or if they want the product to be delivered.
- Friends who work in the retail business
- VIRN: These people will be extremely beneficial and help me market my product. Not every person/company have these connections.
- High quality product
- VIRN: My app will be high-quality so people will enjoy being on the app and not run into frustrating technological issues. A lot of companies don’t have high quality products, but it depends on how much time and money is spent in the product.
After listing 10 resources, I think my most valuable resource is my connections with a lot of people in the retail business. I think these connections will help me market my product and build an even bigger customer base for my app.
Haley,
ReplyDeleteIn your VIRN analysis it would be beneficial if you can reflect if the resources you listed are hard to imitate or substitute. Your last resource is very important; however, it is your future resource. Instead of specifying high quality product as a resource, I believe your current resource is your drive for high quality product. This is an important quality for any business and it a huge drive for success.
Haley,
ReplyDeleteAll of things you listed are very beneficial to any business person so great job! Seems like you are headed in the right direction. I agree with Lubov in that the last resource is very important. People will just get too frustrated if the app does not work right so it is very important to deliver a high-end product right off the bat.