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Noted below are resources I feel will make my venture special.
1. Social Network
a. V: My social circle is one of my strongest resources. Having been able to accumulate a strong network will assist mightily in my venture.
b. R: A network of individuals with similar drives for success is a rarity.
c. I: Not easily imitable. My network has been honed to only include those with a desire to win by any means.
d. N: I don’t believe I would substitute my network for any other resource.
2. Communication Skills
a. V: Another strong attribute I possess. Very necessary for innovation
b. R: Not very rare, but essential.
c. I: Can be imitated quite easily.
d. N: Good communication skills cannot be substituted and are necessary for success.
3. Education
a. V: My education is comprised of both formal accreditations, as well as experiences.
b. R: While the formal education may not be rare, the business experience will give me a leg up.
c. I: Both to a degree are very imitable. For this reason, this wouldn’t be my strongest resource.
d. N: Can be substituted easily for stronger communication skills, finance capital etc.
4. Customer Service Experience
a. V: Years of honed ability in dealing with customers in both warm and cold calling settings. Will aid in understanding consumer needs.
b. R: Not very rare. Can be taught.
c. I: As indicated, can be taught and replicated may times over.
d. N: Cannot be substituted. Is a necessary element to staying power.
5. Work Ethic
a. V: Truly a unique value. Strong work ethic is a key element I possess. Will bring to venture
b. R: This is a rare resource. I have found it to be very unique in the business sector.
c. I: Cannot be imitated. Work ethic and drive come from within and prior experiences.
d. N: This resource is non-substitutable. Without it my venture will not have lift.
6. Strategic Planning
a. V: My strategic planning ability will give my venture life. Without a vision, you are stuck in today’s achievement which has not occurred, and so motivation will be affected.
b. R: Not very rare. Can be taught to a degree.
c. I: Can be imitated. Because strategic planning is less about vision, can be imitated.
d. N: Cannot be substituted. Will be a necessary element in the business planning.
7. Organization Skills
a. V: My ability to put a team and plan together is essential in the business founding and formalizing.
b. R: Not very rare in its structure.
c. I: Formational aspects can be imitated, however the leadership element cannot.
d. N: Cannot be substituted. Also a necessary element of the business planning.
8. Risk Tolerance
a. V: My ability to take a risk, understand risk and assess decision making will assist in my venture.
b. R: This attribute is quite rare. The ability to make quick decisions is necessary.
c. I: Cannot be imitated. Will need to have prior experience in processing.
d. N: Can be substituted for other elements.
9. Research
a. V: My ability to not leave any rock un-turned in my pursuits will assist in meeting objectives.
b. R: From my prior experiences, this is rare.
c. I: Not very imitable. You have to have some clue as to what elements to pursue.
d. N: Cannot be substituted in my opinion. Without this ability, other areas will suffer.
10. Dedication
a. V: Dedication is key achieving success. This is a personality element.
b. R: Yes this is rare. Not everyone has this trait.
c. I: Dedication and drive cannot be taught. While it can be honed, it is not something that will occur over night.
d. N: Cannot be substituted. Dedication cannot be factored out for financial capital or any other capabilities. No dedication, no success.
In assessing my VRIN analysis, I can truly say dedication is a top resource. While strategic planning and some of the more formalized aspects to business planning rank heavily, if you are not dedicated, your experiment into entrepreneurship will end very quickly. Dedication has carried me in my endeavors when finances were at a drought and having like-minded individuals to aid in your success was a commodity I couldn’t find. I would not trade dedication at this state for any other resource.
a. V: My social circle is one of my strongest resources. Having been able to accumulate a strong network will assist mightily in my venture.
b. R: A network of individuals with similar drives for success is a rarity.
c. I: Not easily imitable. My network has been honed to only include those with a desire to win by any means.
d. N: I don’t believe I would substitute my network for any other resource.
2. Communication Skills
a. V: Another strong attribute I possess. Very necessary for innovation
b. R: Not very rare, but essential.
c. I: Can be imitated quite easily.
d. N: Good communication skills cannot be substituted and are necessary for success.
3. Education
a. V: My education is comprised of both formal accreditations, as well as experiences.
b. R: While the formal education may not be rare, the business experience will give me a leg up.
c. I: Both to a degree are very imitable. For this reason, this wouldn’t be my strongest resource.
d. N: Can be substituted easily for stronger communication skills, finance capital etc.
4. Customer Service Experience
a. V: Years of honed ability in dealing with customers in both warm and cold calling settings. Will aid in understanding consumer needs.
b. R: Not very rare. Can be taught.
c. I: As indicated, can be taught and replicated may times over.
d. N: Cannot be substituted. Is a necessary element to staying power.
5. Work Ethic
a. V: Truly a unique value. Strong work ethic is a key element I possess. Will bring to venture
b. R: This is a rare resource. I have found it to be very unique in the business sector.
c. I: Cannot be imitated. Work ethic and drive come from within and prior experiences.
d. N: This resource is non-substitutable. Without it my venture will not have lift.
6. Strategic Planning
a. V: My strategic planning ability will give my venture life. Without a vision, you are stuck in today’s achievement which has not occurred, and so motivation will be affected.
b. R: Not very rare. Can be taught to a degree.
c. I: Can be imitated. Because strategic planning is less about vision, can be imitated.
d. N: Cannot be substituted. Will be a necessary element in the business planning.
7. Organization Skills
a. V: My ability to put a team and plan together is essential in the business founding and formalizing.
b. R: Not very rare in its structure.
c. I: Formational aspects can be imitated, however the leadership element cannot.
d. N: Cannot be substituted. Also a necessary element of the business planning.
8. Risk Tolerance
a. V: My ability to take a risk, understand risk and assess decision making will assist in my venture.
b. R: This attribute is quite rare. The ability to make quick decisions is necessary.
c. I: Cannot be imitated. Will need to have prior experience in processing.
d. N: Can be substituted for other elements.
9. Research
a. V: My ability to not leave any rock un-turned in my pursuits will assist in meeting objectives.
b. R: From my prior experiences, this is rare.
c. I: Not very imitable. You have to have some clue as to what elements to pursue.
d. N: Cannot be substituted in my opinion. Without this ability, other areas will suffer.
10. Dedication
a. V: Dedication is key achieving success. This is a personality element.
b. R: Yes this is rare. Not everyone has this trait.
c. I: Dedication and drive cannot be taught. While it can be honed, it is not something that will occur over night.
d. N: Cannot be substituted. Dedication cannot be factored out for financial capital or any other capabilities. No dedication, no success.
In assessing my VRIN analysis, I can truly say dedication is a top resource. While strategic planning and some of the more formalized aspects to business planning rank heavily, if you are not dedicated, your experiment into entrepreneurship will end very quickly. Dedication has carried me in my endeavors when finances were at a drought and having like-minded individuals to aid in your success was a commodity I couldn’t find. I would not trade dedication at this state for any other resource.
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