23A - Your Venture's Unfair Strategy
Resources for my venture of a budgeting seminar:
1. My mom
V: she has 20 years of entrepreneurial experience, starting 3 successful businesses and selling one of them. That experience in guiding me and budgeting for all the things school doesn't teach you, the "real life" things, is invaluable.
R: the different experiences she's had, such as being a woman-owned businessperson, makes her knowledge and experience very rare.
I: each entrepreneurial experience is different for each person, thus unable to copy and recreate.
N: there are other resources (people) that could provide similar substitutes, but with my mom being family, the bond we have and could put towards my business would be hard to recreate.
2. My dad
V: he has 30 years of experience in the world of entrepreneurship. He, himself has conducted training seminars in front of 30 people
R: he also has a rare set of experiences in entrepreneurship as well as experience in front of crowds that could be useful to me in capturing and keeping the attention of my audience.
I: just like my mom, he has a different set of experiences in the business world that would be hard to recreate.
N: just like my mom above, family ties make this partnership important.
3. $10,000 to start up the company
V: pretty valuable
R: probably not that rare, but not many people would have $10,000 to spare
I: not too easy
N: SPA loans as an alternative
4. A Canon Powershot camera to film the seminar
V: valuable to record the seminar
R: semi expensive camera can be a little challenging to buy but not too rare
I: since there are many other types and brands of cameras, can be imitated easily
N: same as above^
5. A large social hall near me thats cheap to rent out to conduct the seminars
V: valuable as it holds the space of where the seminars will be
R: rare in that its cheap for a good size and location
I: other halls but are more expensive and further away
N:same as above^
6. My brother who has a masters in graphic design can help with the layout of my website and help edit videos.
V: very valuable because he'd do it for free
R: rare in the sense that I won't have to pay for the work
I: his ideas would be original and not copied by others
N: no other resource could provide the same benefit
7. My grandpa who owns a printing company and could provide fliers, pamphlets and other physical paper material needed for the seminars.
V: very valuable
R: also rare because i'd get it for a discounted price
I: N/A
N: other resources could provide the same resources but not at the price i would pay
8. 60 foldable chairs for the seminar room
V: not so valuable
R: not rare
I: N/A
N: could have gotten other chairs for the same price elsewhere
9. Conference Room. I have available, at a discounted price, a Conference Room that could hold over 100 people if necessary. This room is equipped with audio and visual at no additional cost. The room is available through a close personal friend of the family.
V: This is valuable because any competitor would not necessarily have available a discounted room with the audio and visual available at the same cost. Most venues charge extra.
R: The location of the venue. The venue is located central to all major highway systems which woulds allow prospects from further away to conveniently get to
I: We are not reinventing the wheel, we are taking advantage of the opportunities available to minimize cost and maximize profit
N: No. There is nothing like human interaction.
10. Myself as a finance major
V: the education i have received is valuable
R: it is rare because not everyone has the same education
I: while it is a rare education, not all have it
N: No.
Top Resource: I'd say the top resources have to be the people in my family. My mom for example, has an incredible skill set at her disposal that she could help me and my business go to the next level.
1. My mom
V: she has 20 years of entrepreneurial experience, starting 3 successful businesses and selling one of them. That experience in guiding me and budgeting for all the things school doesn't teach you, the "real life" things, is invaluable.
R: the different experiences she's had, such as being a woman-owned businessperson, makes her knowledge and experience very rare.
I: each entrepreneurial experience is different for each person, thus unable to copy and recreate.
N: there are other resources (people) that could provide similar substitutes, but with my mom being family, the bond we have and could put towards my business would be hard to recreate.
2. My dad
V: he has 30 years of experience in the world of entrepreneurship. He, himself has conducted training seminars in front of 30 people
R: he also has a rare set of experiences in entrepreneurship as well as experience in front of crowds that could be useful to me in capturing and keeping the attention of my audience.
I: just like my mom, he has a different set of experiences in the business world that would be hard to recreate.
N: just like my mom above, family ties make this partnership important.
3. $10,000 to start up the company
V: pretty valuable
R: probably not that rare, but not many people would have $10,000 to spare
I: not too easy
N: SPA loans as an alternative
4. A Canon Powershot camera to film the seminar
V: valuable to record the seminar
R: semi expensive camera can be a little challenging to buy but not too rare
I: since there are many other types and brands of cameras, can be imitated easily
N: same as above^
5. A large social hall near me thats cheap to rent out to conduct the seminars
V: valuable as it holds the space of where the seminars will be
R: rare in that its cheap for a good size and location
I: other halls but are more expensive and further away
N:same as above^
6. My brother who has a masters in graphic design can help with the layout of my website and help edit videos.
V: very valuable because he'd do it for free
R: rare in the sense that I won't have to pay for the work
I: his ideas would be original and not copied by others
N: no other resource could provide the same benefit
7. My grandpa who owns a printing company and could provide fliers, pamphlets and other physical paper material needed for the seminars.
V: very valuable
R: also rare because i'd get it for a discounted price
I: N/A
N: other resources could provide the same resources but not at the price i would pay
8. 60 foldable chairs for the seminar room
V: not so valuable
R: not rare
I: N/A
N: could have gotten other chairs for the same price elsewhere
9. Conference Room. I have available, at a discounted price, a Conference Room that could hold over 100 people if necessary. This room is equipped with audio and visual at no additional cost. The room is available through a close personal friend of the family.
V: This is valuable because any competitor would not necessarily have available a discounted room with the audio and visual available at the same cost. Most venues charge extra.
R: The location of the venue. The venue is located central to all major highway systems which woulds allow prospects from further away to conveniently get to
I: We are not reinventing the wheel, we are taking advantage of the opportunities available to minimize cost and maximize profit
N: No. There is nothing like human interaction.
10. Myself as a finance major
V: the education i have received is valuable
R: it is rare because not everyone has the same education
I: while it is a rare education, not all have it
N: No.
Top Resource: I'd say the top resources have to be the people in my family. My mom for example, has an incredible skill set at her disposal that she could help me and my business go to the next level.
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