Resources Available
1.
Group of experienced DJs
VRIN ANALYSIS
Value: Very valuable.
Rare: Moderately rare.
Finding a group of DJs that have experience and motivation to contribute to
your idea is not an easy task these days.
Inimitable: Possibly.
Resource could technically be copied but it wouldn't be an easy task due to its
rarity.
Non-sustainable:
Personal experience can provide similar benefits but that is just one
contributing vs. a whole team of experience disc jockeys.
2.
Investor 1
VRIN ANALYSIS
Value: Very valuable.
Rare: Not rare, but
extremely beneficial.
Inimitable: No, investors
are not inimitable.
Non-sustainable: No,
investors would be my solemn financial support in the beginning.
3.
Investor 2
VRIN Analysis same as
above.
4.
Marketing expert
VRIN ANALYSIS
Value: Very valuable
Rare: Not rare.
Inimitable: No.
Non-sustainable: Yes.
5.
Researchers group
VRIN ANALYSIS
Value: Yes.
Rare: Yes
Inimitable: No.
Non-sustainable: Yes.
6.
Personal DJing
experience
VRIN ANALYSIS
Value: Yes.
Rare: Yes.
Inimitable: Yes.
Non-sustainable: Yes.
7.
Personal DJing skills
VRIN ANALYSIS
Value: Yes.
Rare: Yes.
Inimitable: Yes.
Non-sustainable: Yes.
8.
Hardware
VRIN ANALYSIS
Value: Yes.
Rare: No.
Inimitable: No.
Non-sustainable: Yes.
9.
Software
VRIN ANALYSIS
Value: Yes.
Rare: No.
Inimitable: No.
Non-sustainable: No.
10.
Other equipment
VRIN ANALYSIS
Value: Yes.
Rare: No.
Inimitable: No.
Non-sustainable: Depends.
Feedback
I believe the most
important resource, after conducting my VRIN analysis for each one, is my
personal experience and skills. Even though I believe that all 10 are going to
be very important aspects of my idea, each with its own benefits, I my personal
experience/skills have complete value, rarity, inimitability, and non-sustainability.
I also think that they will benefit me incredibly step in my customers shoes
and look at things from a different perspective.
Hi Dimitrios! I think you definitely have a lot of resources available that can be very beneficial for your venture. Having experienced people in your market that will help get your product name out there is really helpful. Also, having investors who are willing to take a chance and help fund your venture is awesome. I definitely agree that personal experience in your venture really helps sell your product. You know your product is going to be beneficial because you know the market you are working with. Great job!
ReplyDeleteHey Dimitrios,
ReplyDeleteI hadn't known you had investors lined up for your idea, that's awesome! I agree that your personal skills and experience are your top advantage, they will definitely help with your credibility and management of your idea. But those investors are a close second in terms of advantage. I've been following your idea since the beginning of the semester, and if I wasn't convinced you'd do a great job running this idea before (which I was convinced you would), I certainly am convinced now!
Hey Dimitrios,
ReplyDeleteI think the combination of all of your resources put you in an excellent position to be a successful DJ and create a venture where you could be very successful! I agree with you on your personal experiences with being a DJ as being your top experience as that will only help you get better. It also never hurts to have investors! Keep up the good work, best of luck!
Hey Dimitrios,
ReplyDeleteI think that you have a very well-rounded set of resources that definitely provides an advantage. I think you did a great job conducting a VRIN analysis of each group of people, and I thought your categorization of rarity was especially on point. Most importantly, I agree that your personal experience and skills will be what ends up being most important!