MY TEN RESOURCES (FOR BULK FOOD STORES)
Knowledge about sustainable shopping
I run my own brand of sustainable goods, so I contain valuable and rare insight into what shoppers want in an eco friendly brand. Because this is an up-and-coming idea, it's hard to imitate and it's the only substitute I know of at the moment.
Less inventory to setup
There is less inventory involved with setting up a bulk food store, which is rare among other stores.
Adaptability to the culture
I have an ability to understand where the eco-friendly niche is heading, therefore I can adapt when necessary to fit the changes. This skill is both valuable and rare, and although its not inimitable, it's still a good skill to have.
More eco-friendly
This business is extremely environmentally friendly, with less waste and plastic involved than other businesses. This is a valuable and rare trait we can use to attract more customers. You can imitate it, but the substitutes are currently non-existent.
Work Ethic
I have extremely good work ethic, after working in my parents restaurant for so long. This skill is definitely valuable and rare in this workforce, so I should be able to beat others out in the same area.
Community
Through a bulk food store, you can create a community that is rare among other stores. Through a passion for the Earth, there is an actual community at these stores, that can not be replicated at Walmart or other stores.
Money
I got money. Rare and valuable resource.
Less employees
Bulk food stores require less employees, as stocking and other jobs are less frequent than at other bigger stores. This makes us keep money, a rare and valuable resource, while differentiating us from competition.
More traffic by college kids
By building the business in a college town, we can dig into the emotional gravity that college students feel about our environment. Their more invigorated to save the Earth, a rare and valuable asset that can be used to increase our bulk food store's profits.
Persistence
I am extremely persistent. I will be told no 1000 times, and yet I just keep trying. This is my most valuable and rare skill, that cannot be substituted or imitated. Sure, others are persistent too, but I will never give up.
MY TOP RESOURCE: Persistence
This would be my top resource because all of these other resources may come and go, but I will never stop trying. It's something that can't be taken away, and when starting a business, it's the most important skill to have. That's why it's at the top of my VRIN scale and my most important resource.
Hi,
ReplyDeleteI think that you effectively found valuable advantages of your company. Particularly, your work ethic, knowledge, and your persistence are your most valuable resources. Also, I agree that your persistence is the most valuable, because no matter your business type or resource level persistence delivers results. As I am learning from a book that talks about Elon Musk and his accomplishments.
Hi Nick,
ReplyDeleteI can see you thoroughly thoughts through all your resources and picked some great ones that will definitely bring value and hopefully profit to your business. I believe the knowledge about sustainable shopping would also be a top resource. When you open up or run a business, you need to know about your market and how to predict what the consumer will want or need. That will save you time and money in the future.
Hello Nick,
ReplyDeleteIt is evident that you took the time to think about your resources and sort them in a logical manner. Your persistence will take you as far as you let it. I agree that having this inner drive to succeed will do your venture good in the long run.