1). Different brands of boards.
V: Valuable because some shops can only sell certain products.
R: Rare in a way that companies can only sell specific products.
I: Other companies can inimitable these boards.
N: Other resources cannot provide substitutes because of the difference in each board.
V: Valuable because some shops can only sell certain products.
R: Rare in a way that companies can only sell specific products.
I: Other companies can inimitable these boards.
N: Other resources cannot provide substitutes because of the difference in each board.
2). Being located near lakes and other
bodies of water.
V: Somewhat valuable because people can drive to water but that would be an inconvenience.
R: Rare because most of my market would be located around me.
I: Not hard to copy by others. They can open a shop wherever they please.
N: Some companies could provide the same resources at different locations.
V: Somewhat valuable because people can drive to water but that would be an inconvenience.
R: Rare because most of my market would be located around me.
I: Not hard to copy by others. They can open a shop wherever they please.
N: Some companies could provide the same resources at different locations.
3). Having a trustworthy and hardworking team.
V: This is extremely valuable because I know I can count on them to do their best.
R: Not rare because most employee teams are trustworthy.
I: It is not hard for other companies to copy these teams.
N: Others could have the same attributes and characteristics that my employees have.
V: This is extremely valuable because I know I can count on them to do their best.
R: Not rare because most employee teams are trustworthy.
I: It is not hard for other companies to copy these teams.
N: Others could have the same attributes and characteristics that my employees have.
4). Having a sponsored rider as a
worker.
V: Very valuable because he will help bring in business and new products.
R: extremely rare because he could get materials that other companies can’t.
I: Other companies can hire sponsored riders, but it would be very expensive.
N: Every rider is different so they each bring their own unique views.
V: Very valuable because he will help bring in business and new products.
R: extremely rare because he could get materials that other companies can’t.
I: Other companies can hire sponsored riders, but it would be very expensive.
N: Every rider is different so they each bring their own unique views.
5). Jim and his shipping
warehouse.
V: Very valuable because he will be able to get my products shipped near me.
R: it is rare because of the location.
I: Other companies could do this, but it would cost a lot of money to have them near one another.
N: you cannot really find this at a different store.
V: Very valuable because he will be able to get my products shipped near me.
R: it is rare because of the location.
I: Other companies could do this, but it would cost a lot of money to have them near one another.
N: you cannot really find this at a different store.
6). Mike as a member of my executive
team.
V: Extremely valuable because of the knowledge that he has.
R: He is rare because of owning his own shop.
I: Cannot replace him and his experiences.
N: Other companies cannot replicate this.
V: Extremely valuable because of the knowledge that he has.
R: He is rare because of owning his own shop.
I: Cannot replace him and his experiences.
N: Other companies cannot replicate this.
7). Wide range of boots and
bindings.
V: Valuable because some people will always want to try out new products.
R: Rare because some companies only carry certain items.
I: Other companies can copy this at a cost.
N: Other products and services cannot match the feel of each different binding.
V: Valuable because some people will always want to try out new products.
R: Rare because some companies only carry certain items.
I: Other companies can copy this at a cost.
N: Other products and services cannot match the feel of each different binding.
8). Trying out the product
beforehand.
V: Very valuable because you can still return it when finished.
R: Rare because of the fact of being able to return it.
I: other companies could adopt this policy.
N: Other products cannot compare to actually riding the product.
V: Very valuable because you can still return it when finished.
R: Rare because of the fact of being able to return it.
I: other companies could adopt this policy.
N: Other products cannot compare to actually riding the product.
9). Pro advice on each board.
V: Very valuable because of the knowledge on the product.
R: Rare because of the different products.
I: Other companies can hire people who know the materials.
N: Cannot compare to actual experience riding the board.
V: Very valuable because of the knowledge on the product.
R: Rare because of the different products.
I: Other companies can hire people who know the materials.
N: Cannot compare to actual experience riding the board.
10). Having an optional demo of
each board.
V: Very valuable because only certain products can usually be demoed.
R: Rare because its all products not a few.
I: Other companies could start to widen the number of products they demo.
N: Other products cannot compare to the board or bindings of your choice because of the feel.
V: Very valuable because only certain products can usually be demoed.
R: Rare because its all products not a few.
I: Other companies could start to widen the number of products they demo.
N: Other products cannot compare to the board or bindings of your choice because of the feel.
The most important asset would be
having a pro rider on my team. All of the knowledge and experience that he has
cannot amount to just an average employee. They know everything about every product.
Hey Will,
ReplyDeleteI think that many of the assets that you listed would prove very valuable and definitely apply to the VRIN principles. I do believe that you chose the correct choice for your most important asset. By having a pro rider on your team your reputability will be solidified from day one. I also had a similar asset listed but I felt that one pertaining to marketing was more beneficial in my market.
Thanks, Zach L.
Hey Will. I first off like how clear and to the point your VRIN analysis is. While doing mine I was struggling to think of assets I have, and then it got really convoluted and drawn out. I also think that a pro rider on your team is definitely a really strong asset. Similar to what you talked about in one of the recent assignments, you know a few people in businesses that are very compatible with what you are doing, and those are definately great assets as well.
ReplyDeleteWill,
ReplyDeleteI think all of the advantages that you talked about will be helpful in setting you apart from the rest of the entrepreneurs. I agree that having a pro rider on your team is a huge advantage. This would allow someone who has many fans/followers to endorse your product and it would be great publicity for the general public to find out about it.