1. Financial Backing
Valuable- Financial backing is incredibly valuable in any entrepreneurial endeavor, and I am fortunate enough to have this backing should I choose to pursue my idea in the future.
Rare- Financial backing is not rare by any stretch of the imagination; anyone who has an idea and the means to get it funded could easily do so, since in class it was said $10, 000 was the average amount necessary to launch a startup.
Inimitable- Like I said before most people have access to this amount of money, so financial backing is very imitable.
Non-substitutable- Financial backing is very non-substitutable; money is all but a requirement to actualize practically any business idea.
Valuable- Financial backing is incredibly valuable in any entrepreneurial endeavor, and I am fortunate enough to have this backing should I choose to pursue my idea in the future.
Rare- Financial backing is not rare by any stretch of the imagination; anyone who has an idea and the means to get it funded could easily do so, since in class it was said $10, 000 was the average amount necessary to launch a startup.
Inimitable- Like I said before most people have access to this amount of money, so financial backing is very imitable.
Non-substitutable- Financial backing is very non-substitutable; money is all but a requirement to actualize practically any business idea.
2. Family Connections
Valuable- My family connections, considering what they are, are incredibly valuable towards my idea; I believe they could not be actualized without these connections.
Rare- These types of connections I believe are quite rare; not many people have family connections that are poised to bring an idea to new heights.
Inimitable- I believe family connections are truly inimitable in the business environment.
Non-substitutable- In my situation with the idea I have, I believe there is no substitution for these connections.
Valuable- My family connections, considering what they are, are incredibly valuable towards my idea; I believe they could not be actualized without these connections.
Rare- These types of connections I believe are quite rare; not many people have family connections that are poised to bring an idea to new heights.
Inimitable- I believe family connections are truly inimitable in the business environment.
Non-substitutable- In my situation with the idea I have, I believe there is no substitution for these connections.
3. Film Industry Experience
Valuable- For what my idea is, having film industry experience is crucial to the success of what I would be trying to launch.
Rare- Film experience is not at all rare, as most people living in Los Angeles have some form of it up their sleeve.
Inimitable- The experiences in film I have anyone else with the same connections could have as well, so it is very imitable.
Non-substitutable- I believe this industry experience is important and cannot be substituted for much of anything else.
Valuable- For what my idea is, having film industry experience is crucial to the success of what I would be trying to launch.
Rare- Film experience is not at all rare, as most people living in Los Angeles have some form of it up their sleeve.
Inimitable- The experiences in film I have anyone else with the same connections could have as well, so it is very imitable.
Non-substitutable- I believe this industry experience is important and cannot be substituted for much of anything else.
4. Film Knowledge
Valuable- Knowledge of film and the industry as a whole is incredibly important and valuable
Rare- This type of knowledge is not rare; many people possess it
Inimitable- This knowledge is highly imitable since anyone who wants to learn about the industry has the resources to do so.
Non-substitutable- This knowledge cannot be substituted in this endeavor; it is necessary for understanding the target market.
Valuable- Knowledge of film and the industry as a whole is incredibly important and valuable
Rare- This type of knowledge is not rare; many people possess it
Inimitable- This knowledge is highly imitable since anyone who wants to learn about the industry has the resources to do so.
Non-substitutable- This knowledge cannot be substituted in this endeavor; it is necessary for understanding the target market.
5. Outside Connections
Valuable- I consider my outside connections incredibly valuable to the success of this endeavor.
Rare- Most everyone in Hollywood has non-familial connections, so it is not at all rare.
Inimitable- Anyone can make connections over time, so they are highly imitable.
Non-substitutable- Connections are definitely non-substitutable all of the time; I believe they are essential to the plan.
Valuable- I consider my outside connections incredibly valuable to the success of this endeavor.
Rare- Most everyone in Hollywood has non-familial connections, so it is not at all rare.
Inimitable- Anyone can make connections over time, so they are highly imitable.
Non-substitutable- Connections are definitely non-substitutable all of the time; I believe they are essential to the plan.
6. Outside Experience
Valuable- My experience outside of the film realm is still fairly valuable to my overall plans.
Rare- My outside experiences are very run of the mill; there is nothing rare about them.
Inimitable- These experiences are highly inimitable, anyone could have similar ones.
Non-substitutable- These experiences are highly substitutable; their presence has next to no bearing on the success of my idea.
Valuable- My experience outside of the film realm is still fairly valuable to my overall plans.
Rare- My outside experiences are very run of the mill; there is nothing rare about them.
Inimitable- These experiences are highly inimitable, anyone could have similar ones.
Non-substitutable- These experiences are highly substitutable; their presence has next to no bearing on the success of my idea.
7. Outside Knowledge
Valuable- I believe my knowledge outside of the film industry has a fair share of value.
Rare- There is nothing rare about my outside knowledge; most students have the same amount of it.
Inimitable- My outside knowledge is highly imitable; most people can replicate it and it possesses no uniqueness.
Non-substitutable- My experiences could be easily substituted for anybody else’s.
Inimitable- My outside knowledge is highly imitable; most people can replicate it and it possesses no uniqueness.
Non-substitutable- My experiences could be easily substituted for anybody else’s.
8. Travel Experience
Valuable- My travelling experience is quite crucial to my idea and very valuable in my opinion.
Rare- There is nothing rare about my travel experiences.
Valuable- My travelling experience is quite crucial to my idea and very valuable in my opinion.
Rare- There is nothing rare about my travel experiences.
Inimitable- My travel experience is highly imitable.
Non-substitutable- My travel experience is very non-substitutable.
Non-substitutable- My travel experience is very non-substitutable.
9. Market Knowledge
Valuable- My knowledge of my target market is hugely valuable in this endeavor.
Rare- There is nothing rare about my market knowledge
Inimitable- My market knowledge is highly imitable.
Non-substitutable- My market knowledge is very non-substitutable.
Valuable- My knowledge of my target market is hugely valuable in this endeavor.
Rare- There is nothing rare about my market knowledge
Inimitable- My market knowledge is highly imitable.
Non-substitutable- My market knowledge is very non-substitutable.
10. Motivation
Valuable- My motivation to keep this opportunity alive is very valuable to my overall progress in materializing my plans.
Rare- There is nothing rare about my level of motivation
Inimitable- My motivation is highly imitable.
Non-substitutable-My motivation is very non-substitutable.
Valuable- My motivation to keep this opportunity alive is very valuable to my overall progress in materializing my plans.
Rare- There is nothing rare about my level of motivation
Inimitable- My motivation is highly imitable.
Non-substitutable-My motivation is very non-substitutable.
My top resource are my family connections; be them what they are, without them my idea would have practically no chance of materializing and I wouldn't have the knowledge to carry my plans out.
Logan,
ReplyDeleteJust like the subtitle in Dr. Pryor's `Social Capital' assignment, "It's not what you know, it's who you know." You have seemed to conquer the social capital aspect of entrepreneurial trade. There are many different characteristics that you listed above that separate you from the average Joe but your Hollywood connects within your family are definitely the most valuable, in my opinion.
"Its all about how you can leverage those you know to develop the relations in the future. I enjoyed reading assignment because it showed how you were able to use the social aspect of your business to really seperate yourselves from other ideas
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