Today I'm bringing to you my venture's unfair advantage. That is, what am I bringing to the table? What makes my venture special?
Here's a list of 10 resources I possess for my venture, including human capital, social capital, tools, and capabilities, along with a VRIN (how valuable, how rare, how inimitable, and how non-substitutable something is), analysis for each one.
In no particular order...
1) Sewing Machine (and sewing skills!)
V: For something like MagneFit, knowing how to sew is invaluable. I have my sewing machine already, and because I know how to use it, I don't have to hire someone else to draft up prototypes, et cetera.
R: Not as rare as it was a few years ago-- crafts like sewing have been gaining speed recently. However, there are still a decent amount of people out there who can barely sew a button.
I: Not really something you can 'copy' unless you go out a buy a sewing machine and learn the skills-- something not everyone has the time (or money!) to do.
N: Sewing is sewing. Unless you're using Stitch Witchery, you're out of luck.
V: People like enthusiasm. It means you're excited about your product-- and it's contagious.
R: Not particularly rare. However, it can be hard to keep enthusiasm going steadily. Luckily, I've been a camp counselor for longer than I can remember! Who's got spirit like no one's got?! I do, I do!!!
I: Not hard to copy, but hard to sustain my level of enthusiasm.
N: I'd say it's not substitutable. No one wants a lackluster presentation or pitch.
V: It's valuable! People want to see you not get discouraged. They like to see you pull through the rough patches.
R: Everyone has some level of determination in them. Not particularly rare.
I: Anyone can be determined to do something.
N: Nothing like determination! Well. Perhaps stubbornness....
V: You need to be able to market your product, right? How will people know about your product if you don't tell them about it?
R: It's not particularly rare-- but it takes effort to develop.
I: It's also not particularly hard to copy; however, each person has their own personality and style of speech.
N: Unless you prerecord every speech and make no public appearances yourself, public speaking is something you just have to do.
V: I've lived in five countries-- I know many people from all sorts of backgrounds. Their experiences, attitudes, and help are all things that are invaluable to me.
R: I'd say it's rare. How many people do you know that went to boarding school in Switzerland?
I: A connections network as wide as mine is hard to find.
N: Networking is a must. Non-negotiable!
V: People like smiles. People are more likely to buy things from you if they like you.
R: Not so rare.
I: Comes easier to some people than others.
N: Nothing like killing them with kindness!
"What do you call a fake noodle?
An Impasta!"
Okay okay. No one ever said I was good at telling jokes.
I'm situational funny.
V: People like to laugh. It makes them like you better. You want laughter. No one wants to talk to Mr Somber. It'll help you in the long run.
R: Not so rare.
I: Comes easier to some people than others.
N: Nothing like killing them with laughter!
8) Dynamicity
V: Ever walk into a room and just met someone so amazingly dynamic they stunned you? Okay, I'm not that dynamic (yet), but it leaves a good first impression on someone. That's valuable. You want that.
R: Rare-ish. Mainly people who have been at this for a long time, but it comes naturally to some people.
I: It takes a lot of practice. Helps if you have a buddy.
N: Be dynamic. It's non-substitutable. (Well if that didn't sound like a commercial....)
9) Exciting.
V: People like exciting. Boring = bad. Besides, kids like exciting, and parents want their children to be happy (see where I'm going with this?)
R: Could be rare, could be not rare-- depends on a person's outlook on life. Are they easily excitable? Or are they a bit pickier?
I: Comes easier to some people than others.
N: Nothing like being exciting! Just make sure not to leave out the 'c'. We're not 'exiting' just yet.
10) Baking and cooking skills
Okay, I get it. Baking skills? Mazal, why is this even on the list?! Good thing you asked! Sometimes you might just need to "wow" a potential investor or customer. What better way than through a fantastic dinner to show them how capable you are? In addition, for promotional events, people are always willing to come if they hear that treats are available... especially homemade chocolate chip cookies.
I rest my case.
V: It's valuable because it can improve people relations, especially with my higher ups. Pillow shaped cookies, anyone?
R: Many people today can't cook or bake. It's not particularly rare, but it's becoming less common of a skill because so many people rely on restaurants and fast food joints to do it for them.
I: Both skills aren't particularly hard. You just have to start practicing, and you learn all the little tricks on the way.
N: Unless you have really good people skills, I don't think there's something that could provide the same benefits. (Who said it that "the way to a man's heart is through a deli platter"?)
So, what is my top resource?
*Drum roll*
ENTHUSIASM!
Yes. Enthusiasm, because it rolls multiple qualities into one.
It's dynamic.
It's exciting.
It's friendly.
Not to mention, it works great in conjunction with just about everything else on the list (I'm looking specifically at you, public speaking skills!)
Alright, folks! Hope you enjoyed this lovely installment of Me, Mazal!
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