V- The collection of tools that I have amassed over the years will help to offset some of the initial capital need.
R- Although not extremely rare, this resource is a valuable commodity that is at the heart of venture.
I- This collection is unique in that I have purposely and thoughtfully put it together to solve the issues that I have had in home renovation and DIY projects.
N- This venture will require these exact types of tools to be successful. They are not substitutable, however there will be additions to this collection during the initial outlaying of capital.
2) Creative (Human Capital)
V- Being raised in a family where there was always some sort of home renovation or craft project in the works has turned me into the type of person that would rather create it myself than pay someone else.
R- My unique experiences over the years are extremely varied from my years in the Army, to bachelorhood, and now into my family years. This varied experience has created the essence of this company.
I- My experience and abilities are not imitable, everyone’s level will vary.
N- This venture will require this type of well-rounded individual to be successful. This resource is not substitutable.
3) Wife (also creative and would have shanked Martha Stewart in prison with a shiv fashioned from a tampon tube. She is that bad ass!)
V- You have heard of people having a creative side, however my wife is just creative all the way around. There is not one item in our house that we have purchased over the years that she has not made over in some way, shape, or form.
R- She is my biggest commodity and brings a sense of direction to the company. She is the reason why I build stuff.
I- Thankfully she is one of a kind!
N- Due to her unique and creative mind, there may be imitations but there are no substitutes for this resource.
4) Determination (Human Capital)
V- I am too stubborn to give up on something once I get started.
R- Unfortunately, this is a not rare, as many men suffer from the same problem.
I- This resource is imitable, as many men are “determined”.
N- This venture will require someone with determination. This resource is not substitutable.
5) Problem Solver (Human Capital)
V- As stated with prior resource, I am too stubborn to give up on something once I get started. I will always find a way regardless of how long it takes.
R- Again, unfortunately, this is a not rare, as many people suffer from the same problem.
I- This resource is imitable, due to many people having this same resource.
N- This venture will require someone with this resource. This resource is not substitutable.
6) Friends in Management at Home Depot
V- This resource is of great value, as it adds access to market segments that we are targeting.
R- This resource is not extremely rare, as big box stores are everywhere.
I- This resource is imitable, anyone could also have this resource.
N- This venture will require this resource as a continual source of new customers. This resource is not substitutable.
7) Access to a large vacant warehouse
V- This resource is of great value, it is exactly the size space that we are looking for and needing to properly set up the different areas for projects.
R- Although this resource is not rare, due to its size and availability at the price we would be able to contract at it would be extremely valuable.
I- This resource is imitable, anyone could also have this resource for a heftier price tag.
N- This venture will require this resource at a large size and is not substitutable.
8) Parent with financial capital to invest
V- This resource gives us the capital required to put this business in motion at an interest rate that we can afford to borrow at.
R- This resource is not rare, there is financial capital available, just at higher interest rates.
I- This resource is imitable, anyone could also have this resource.
N- This venture will require this resource as a cornerstone to acquire the remaining resources needed to be successful. This resource is not substitutable.
9) Organizational Culture
V- The premise behind this business is to empower individuals to create things that will have meaning to them and bring value to their lives. The individuals involved with reflect this mission and strive to help every customer succeed. This will be the biggest driving factor of this company.
R- This resource is extremely rare these days, not many businesses put an emphasis on the success of its customers over the profits of the company.
I- This resource is imitable, and I would love to see more companies follow suit. The world would be a much better place.
N- This venture will require this resource as a continual source of new customers. This resource is substitutable, the company could be a success without it. However, it would be the company that I envision or the one that I set out to create.
10) Large Local Social Network
V- This resource is of great value, as it adds access to market segments that we are targeting.
R- This resource is not extremely rare, social networks are easy to tap into.
I- This resource is imitable, anyone could also have this resource.
N- This venture will require this resource as a continual source of new customers. This resource is substitutable, other forms of marketing could be used.
Of all my resources, I would say that resource #9 would be my top resource. I feel that this type of organizational culture will help us to stand out and build the word of mouth reputation that we will need. Utilizing social media to help advertise will be crucial in the beginning, and having a staff that is focused on the success of the individuals utilizing this business will help this blossom. When you care about your customers, they know it and that will make the biggest difference.
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