My Venture's unfair advantage

  •  Resources 
  • Friends that live all over the world that would help with the start up of the company 
  • A friend who will develop me an app and a website free of charge 
  • A unique idea that no one else is offering 
  • Plenty of wealthy friends all over the world that would be interested in investing in the company if I had a business plan 
  • A lot of friends who would help me market the business and would be interested in being a client
  • Knowledge about travelling, traveled to almost every continent 
  • My unique lifestyle experience (moving from Europe to America) has made me realize the value of these experiences 
  • I have a great understanding of people, I know what makes them tick, so it will be a huge asset in creating a unique experience for others
  • Passionate about travelling and business which will facilitate the process of marketing and convincing others to use my company
  • Friends in different countries who would allow others to stay there for free, which will keep costs low                                                                                                                      VRIN Analysis
  • Valuable - My business provides huge value to its clients, it gives them a life changing experience, and allows them to visit another country of their choice and stay with locals so they can learn about the culture and themselves. 
  • Rare - No one else is offering this kind of customized service in which you can immerse yourself in another culture
  • Imitable - My global social capital and my life experiences make my service hard to imitate and achieve the same quality with low costs 
  • Non Sustainable -  The only substitute you have is to go to a travel agency and let them play your trip. But this won't allow you to go and live with locals                                            My most important resource is my global social network, it won't only provide me with clients but will also allow me to house them with low costs.  

Comments

  1. UnknownNovember 9, 2017 at 10:17 AM

    Hi Justin,

    I enjoyed reading about your venture's unfair advantage. I think your VRIN analysis was well thought-out. Your global life experiences make your service idea very hard to imitate, and even if one were to try, it would probably not be as successful if they do not have the same knowledge and connections in so many parts of the world. I noticed that many of your venture's resources include relationships that you have with other people, so overall it seems like your network is your best resource. That is very fitting for the type of service you wish to provide. Great post!

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  2. Olivia MasihNovember 12, 2017 at 10:43 AM

    Hey Justin,

    Great job on this assignment! I would agree (based off of this post) that your network is your strongest advantage; you know a lot of people that offer a variety of services/resources that can really help you get this idea off of the ground. It seems like you really value your relationships with other people and that’s important in any venture, but especially in launching businesses!

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