Thursday, March 29, 2018

What are ya resources?

  • Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 
    • I believe I have a high social capital because of the University and community I am surround by. I have a lot of opportunities and contacts through my work experience that will allow me to find resources that I need to make this app successful.
    • Because of the team I will be able to create, this app also has a large human capital backing it. I know dozens of creative, artistic, and smart individuals that will be apart of the team to put this together.
    • The over head for this is also very low which is a financial advantage for this opportunity. Since it is an app, there does not need to be a building and everything that comes along with owning a business space.
    • The ability to actually create this app is also an important detail to perfect. In my case, I have a best friend who has already told me he can create this and more for future expansions of the app.
    • All of this cost money, but because of my status as a student and a majority of the workers being young, energetic, ambitious, poor, college students, and friends, money is not need in the same amount as if professionals were hired.
    • This product also has a large range of areas, people, and ages to attract. This will give it the longevity it will need to turn investments into profit for investors and myself.
    • I also believe that there is a special intellectual resources because I have started and run a business before. I know the ins and outs of what it means to not only run a business, but run a business with other young workers.
    • Another Human Resources that can be found because of where I live are the people I can use to promote this. For example, college students do not want 80 year men handing out flyers for this app; they want young, attractive and fun college students. Luckily for me, there is an abundance of eager college students willing to work.
    • Going off of the last point, to make a business successful you need workers. For s art up business like this, a lack of workers is not something you want to deal with. Fortunately enough, there will be no shortage for workers in Gainesville.
    • Lastly, the money to pay the works that are hired. I am not rich, sadly, but I have access too investors through my past business successes, my family contacts, and even committee friends. Money is crucial in this start up and I know I can raise what is needed.
  • My best resources is my access to college students. Through college students I have a study work base that will work for less than other sources. College students are also the target audience of this product so being able to use attractive and fun students, the right audience will be reached.

1 comment:

  1. Hey Edson, I also thought college students were an extremely important resource to me as well. College students, to me, provide a great labor force because as you said they understand the target audience. As a finance major, I am also really happy you said you have enough capital for the business. Most people do not realize how much capital it takes to start and grow a business. It is incredibly expensive, so I am glad you took note of that resource. I would actually argue that is your most important resource because thats what causes mostly all businesses to fail. They lose their money and do not think before-hand. Overall, great post and great insight.

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