23A – My Venture’s Unfair Advantage
(App that serves as a questionnaire
for medical attention to assess whether or not emergency precaution is
necessary.)
·
Incredibly Accessible being a downloadable app
o
Valuable: Yes
o
Rare: No
o
Inimitable: No
o
Non-Substitutable: No
·
Very easy to use
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: No
o
Non-Substitutable: No
·
Quick feedback to aid decision making
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: Maybe
o
Non-Substitutable: No
·
Low cost for start up
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: No
o
Non-Substitutable: No
·
Desire to aid naïve individuals
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: No
o
Non-Substitutable: No
·
Attention to detail in order to not lead people
in a dangerous direction
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: No
o
Non-Substitutable: No
·
Helpful to every demographic imaginable
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: Yes
o
Non-Substitutable: Yes
·
Function is very fluid and can fit into multiple
aspects of the medical industry instead of rigidity
o
Valuable: Yes
o
Rare: Yes
o
Inimitable: Yes
o
Non-Substitutable: Yes
·
High capability to diversify outwards from
o
Valuable: Yes
o
Rare: No
o
Inimitable: Yes
o
Non-Substitutable: No
·
Doesn’t require a large employee base and keeps
expenditures low
o
Valuable: Yes
o
Rare: No
o
Inimitable: No
o
Non-Substitutable: No
After conducting a VRIN analysis on all of the resources I
have thought up, I have concluded that my most necessary resource to focus on
is how relatable this venture can be to every demographic. There are very few
things that almost every person in the world can benefit from. I believe this
app is unique because if executed correctly it could become something that
people rely on to save their own lives or the lives of individuals. If it’s
outcome is successful there is no reason why anyone with access to an app store
would not want to download and utilize this app regularly.
Great analysis of VRIN of your resources. Having a product or service that is needed by every imaginable demographic is indeed a very rare and valuable resource. It is also hard to imitate and can not be substituted. I believe that this resource is your strongest too. Since health care is so universal, I don't doubt this. However, I think its still important to not just rely on this.
ReplyDeleteHey Matthew, I believe that doing the VRIN analysis really correlates with the fact that your most necessary resource is to focus on how relatable this venture is to every demographic. Having that resource available can really help your product diffuse into the global market. Therefore, I believe that an app like this can really people part of every ethnicity and culture.
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