1. Me. I, as an employee of my own, have basic marketing and manufacturing knowledge. Since I will graduate in one year from the University of Florida, I found myself a valuable but not very rare knowledge labor. Not very hard to copy by others and not very hard to find substitutes. However, it is most likely that I am going to pursue other degrees in the future, I am able to have a more competitive human capital.
2. Capital. I have established connections with a few investors who are especially interested in gaming related areas. I found them very supportive of my idea which combined gaming devices and wireless charging technology. I think they can help me with my initial financing and that is very valuable to an entrepreneur. This is a rare resource and, in my case, hard to find substitutes.
3. Technology. I have a couple of friends who are also students from the University of Florida. We met each other in an information system course. We all love playing games and we all business major. Because of the sharing interest, we became good friends and group members. I believe that they are my valuable social capital. Although they are not rare to find, they are not inimitable and non-substitutable.
4. Background & social network. I am an international student in the US. I have a lot of international friends that came from China. We shared the same culture and have a similar background. We are closer than ever since we all living and studying aboard. We support each other in difficult conditions. They are my valuable resource, rare, and inimitable. They are non-substitutable.
5. Product. My business idea is to connect all gaming devices together and made them organized. As a result, people who love gaming and willing to purchase related devices will be a great target of my products. A noticeable characteristic of this target group is that they tend to try out new things and have plenty of money to spend on devices.
6. Production: I am familiar with the cheap labor force in China and I think it will be a great opportunity for me. I will have advantages during my production processes. This will be a valuable, rare, inimitable, and non-substitutable advantage for my business.
7. Experience in E market. I used to open an e-shop on Taobao.com in China. I am familiar with the process of packaging and selling. I think it will be a valuable and rare ability for my business. However, it is easy to copy by others.
8. Good at Design. I used to learn drawing when I was little. Therefore, I have a good sense of aesthetic. It will be an advantage of mine. This ability is valuable but not rare. It is easy to copy by others and substitutable.
9. Familiar with business law. I am learning business law this semester. I am able to solve a few basic law problems on my own. This ability is valuable and rare. It is not inimitable and substitutable.
10. Culture. I think my future business culture will be very clear and strict. I believe that will help my business to success.
Among all the capitals, the most important and valuable one is my financial capital.
6. Production: I am familiar with the cheap labor force in China and I think it will be a great opportunity for me. I will have advantages during my production processes. This will be a valuable, rare, inimitable, and non-substitutable advantage for my business.
7. Experience in E market. I used to open an e-shop on Taobao.com in China. I am familiar with the process of packaging and selling. I think it will be a valuable and rare ability for my business. However, it is easy to copy by others.
8. Good at Design. I used to learn drawing when I was little. Therefore, I have a good sense of aesthetic. It will be an advantage of mine. This ability is valuable but not rare. It is easy to copy by others and substitutable.
9. Familiar with business law. I am learning business law this semester. I am able to solve a few basic law problems on my own. This ability is valuable and rare. It is not inimitable and substitutable.
10. Culture. I think my future business culture will be very clear and strict. I believe that will help my business to success.
Among all the capitals, the most important and valuable one is my financial capital.
Hey Sining!
ReplyDeleteGreat post! I think all of your points are really valuable to you and your future business! I like how you mentioned that to being international student helps you to make connection with the other international students which I totally agree with you.
Hi Sining,
ReplyDeleteI really like how you are so knowledgeable about yourself and your own values. I think that knowing about yourself and using what you know to better yourself is so important. I think that your culture and your knowledge of business law will help you to become the best version of yourself that you can be. Also, graphic design is a very in demand skill that you could use to improve your own business as well as be hired by other companies to work for them.
Hi Sining,
ReplyDeleteI wanted to reach out and say great job on yet another wonderful post where you analyzed the discussion topic at hand. I enjoyed listening to the fact that you were able to improve upon yourself through gaining more knowledge about yourself and your specific business drives. Similarly, you have been able to understand how being an international student has given you additional perspectives.
Hi Sining,
ReplyDeleteI think you know yourself really well. You know what is your advantage against other people. I also agree that your financial capital is the most important resource for you. A good financial status can help a business grow much better. I think without the financial pressure like debts can give you a good start of your new business.