These are some of the resources I have come up with for my business venture. My idea is a ride-sharing app similar to Uber and Lyft, which offers additional services such as food and grocery delivery, etc.
-Financial. I have financial resources from family. I know they would
help me to get started.
-For the VRIN -this resource is valuable and rare because not many people have this option. The saying goes "you have to have money to make money" which in the case of starting a business, can be very true.
-Financial. I also have excellent credit so if I needed to take out a loan I would have options.
-This is a very valuable resource to me because I would need to take out a loan at some point if the costs of the business are too high at first. I would be able to do it on my own and wouldn´t need someone with good credit to put things in their name.
-For the VRIN -this resource is valuable and rare because not many people have this option. The saying goes "you have to have money to make money" which in the case of starting a business, can be very true.
-Financial. I also have excellent credit so if I needed to take out a loan I would have options.
-This is a very valuable resource to me because I would need to take out a loan at some point if the costs of the business are too high at first. I would be able to do it on my own and wouldn´t need someone with good credit to put things in their name.
-Social capital. I have several entrepreneurs in my family that would help
me out and give me sound advice.
-This is very valuable because many times in business, it´s all about who you know. Knowledge and advice from someone with experience can be invaluable.
-Social capital. I know people that I could trust to work with/for me in this business venture.
-I think this is one of the most valuable and non-imitable resources. It doesn´t matter how much money or experience you have if you are not able to trust people you work with.
-This is very valuable because many times in business, it´s all about who you know. Knowledge and advice from someone with experience can be invaluable.
-Social capital. I know people that I could trust to work with/for me in this business venture.
-I think this is one of the most valuable and non-imitable resources. It doesn´t matter how much money or experience you have if you are not able to trust people you work with.
-Human capital. I have first hand experience working in this industry.
-I have used a similar app both as a customer and as an independent contractor. I know what it´s like to keep both parties satisfied.
-I have used a similar app both as a customer and as an independent contractor. I know what it´s like to keep both parties satisfied.
-Human capital. I have management experience.
-I have been in a supervisor role and I learned how to manage people while maintaining their respect for me. This is a very valuable resource for someone who wants to start a business. You can be the nicest guy on Earth with the most friends but if you aren´t able to be assertive enough get people to respect your authority, it´s not going to work.
-Organizational culture. My idea creates a culture of trust and customer/employee satisfaction because it goes based on a rating system
-When customers feel that their opinion is valued, they continue to use a service.
-Organizational culture. The company is not only for profit but also helps the environment by encouraging car-sharing.
-Many people feel more obliged to use a service when it has a deeper purpose. This is a valuable part of the culture of the organization.
-Organizational culture. It helps the economy by putting money in the pockets of the drivers involved, where they may otherwise be unemployed. The majority of fares go straight into the employee’s paycheck and not to a corporate account.
-A lot of people prefer to use ride-sharing apps over taxi companies any day, simply because they know they are getting the best rates and where the money is going.
I believe that the most valuable resource my business would have is the organizational culture. This type of resource is very valuable and non-imitable. Taxi´s have been around for a long time and still haven´t seemed to understand this concept. Every city I travel to, I experience a less than desirable taxi service. They are constantly trying to rip people off and that´s why customers are fed up, and began looking for an alternative. This concept of organizational culture is what has made Uber the number one driver-passenger service in the world.
-Organizational culture. My idea creates a culture of trust and customer/employee satisfaction because it goes based on a rating system
-When customers feel that their opinion is valued, they continue to use a service.
-Organizational culture. The company is not only for profit but also helps the environment by encouraging car-sharing.
-Many people feel more obliged to use a service when it has a deeper purpose. This is a valuable part of the culture of the organization.
-Organizational culture. It helps the economy by putting money in the pockets of the drivers involved, where they may otherwise be unemployed. The majority of fares go straight into the employee’s paycheck and not to a corporate account.
-A lot of people prefer to use ride-sharing apps over taxi companies any day, simply because they know they are getting the best rates and where the money is going.
I believe that the most valuable resource my business would have is the organizational culture. This type of resource is very valuable and non-imitable. Taxi´s have been around for a long time and still haven´t seemed to understand this concept. Every city I travel to, I experience a less than desirable taxi service. They are constantly trying to rip people off and that´s why customers are fed up, and began looking for an alternative. This concept of organizational culture is what has made Uber the number one driver-passenger service in the world.
Great post and I like your idea! I think you could afford to go a little more in depth when describing these resources you have. Do you think the financial capital from your family would be enough to cover all the costs of what seems to be a pricey venture? Some more concrete figures might help, especially if you apply for a loan. Keep up the good work. I didn't do this assignment but here's a link to my blog http://jdlopezent.blogspot.com/
ReplyDeleteHey Kelsey, you really seem like you have a great grasp on this industry, as well as a multitude of unfair advantages to give you a leg up on the competition. It is an awesome thing to have a family of entrepreneurs, who you know will support you in your ventures, and trusted friends and employees that you know will provide your business with quality service. Also, your industry experience from both sides will allow you to truly provide a service that caters to the needs to both parties which is extremely important. I really liked that you talked about your organizational culture being your greatest asset, due to the fact that not only are your employees satisfied, but you are helping the economy as well! Excellent job! Feel free to check out my blog here:http://brycesharrold2.blogspot.com/2016/03/my-unfair-advantage.html
ReplyDeleteHey Kelsey, I think that this is a very good idea. I also believe that the culture built around any organization is the key to success. Creating a unique and memorable experience for customers and employees is of the utmost importance for a venture to succeed. Your recognition of this fact makes your idea even better. Great job!
ReplyDeleteI’m happy to see that you know the value of credit! Many people don’t understand how credit can either make you or break you in business. I deal with businesses every day and they just don’t get it at all. It is also good that you have help from your family to invest in anything you wanted to do. Having help is VERY important.
ReplyDelete