Thursday, April 4, 2019

RESOURCE GATHERING

Today I decided to list 10 of my company's resources in order to figure out what it is that makes us special. The list is as follows:

1. My social capital in the area. I find this more valuable and rarer than my other resources because the area that I live in and inhibit is unique to me. Someone could theoretically live where I live and do exactly as I do, but they wouldn't be able to mimic the relationships that I've developed as well as have the certain advantages I do given my circumstances living here.

2. My access to suburban neighborhoods. This is very mimic-able and not rare at all, but I find it valuable still and non-substitutable because these neighborhoods are where my business aims to mainly operate.

3. My access to animal experts. Given that we go to UF I'm sure anybody can find an animal expert of a sort, but I managed to have one in my personal circle so I feel my relationship with them gives me an edge.

4. My inventory of materials. This is absolutely non-substitutable as these materials such as trucks and cleaning supplies are an absolute must for my project. We can buy more, but not different kinds.

5. The backup savings. I have a personal amount of money set aside in case the project needs more money. Everybody has money, but the amount and the ability to use it varies among those with it.

6. The circle of experts. These people are not possible to replicate and are mostly affiliated with my business, making them a key factor of my business and resources.

7. My experience working with cleaning and animals. Not everybody spent a lot of time in the Scouts like I did, and I feel this edges me out in favor. I have an irreplaceable background knowledge on many of the things I'm working with.

8. The team. I'm not working alone in my plans, and having a group who are also interested in what it is I'm doing is helpful and unique.

9. My college experience. My education has taken me many places and I've learned from many fields and I feel that this adds up to have more background knowledge in the field I wish to work in.

10. My business experience. Simply put, not everyone has worked alongside businesses and having done so is a necessary experience to understand where potential errors can arise.

I would say my most important resource, in terms of value against all other resources, would be my social capital in the area that I operate in. It's impossible to recreate the specific relationships and contexts that I have with people here, and it's necessary to have a relationship with someone in order to conduct business that way.

3 comments:

  1. I agree that social capital seems to be the most valuable resource. I also said this for my own analysis. Pretty much everything these days is about networking and who you know/meet!

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  2. I believe that social capital is the greatest resource anyone can have, seeing how you've already established relationships within your community puts you that much further aead of your competition.

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  3. While I think social capital is the greatest resource you can have ("It's not what you know, it's who you know"), I would say that those relationships are replicable - given enough time. Because of that, I think that the overall experience you have is more important right now. It would take years for someone else to learn what you have learned (versus months to form a relationship), and it seems that the experience is what is guiding you in what you've decided to develop as a business idea.

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