Friday, March 30, 2018

Your Venture’s Unfair Advantage


Assignment 23A

10 Resources (human capital, social capital, financial capital, and capabilities) I have already:
1.    I am an organized individual.
a.     Why is it valuable? Being organized is valuable because it keeps you from getting stressed out since you know where everything is.
b.    How rare is it? I would say that being organized is not very rare, but at the same time, not very common.
c.     How hard is it for others to copy it? It’s hard for others to copy personal traits because then they do not come from an authentic place.
d.    Are there other resources that can provide the same benefits? No.
2.    I know how to use social media as a marketing tool.
a.     Why is it valuable? This world is run by social media
b.    How rare is it? Not very rare since it’s easy to learn and so important
c.     How hard is it for others to copy it? Not that difficult
d.    Are there other resources that can provide the same benefits? No
3.    I have a strong drive to succeed.
a.     Why is it valuable? It is important to be a self-motivated person!
b.    How rare is it? I feel like this is one of the rarest characteristics to have. A lot of people do things because they have to not because they want to.
c.     How hard is it for others to copy it? Hard to copy because it’s so rare.
d.    Are there other resources that can provide the same benefits? Nope, this is irreplaceable.
4.    I’m a great listener.
a.     Why is it valuable? This is one of the most valuable skills ever! Listening is so rare and so important, it enhances connection.
b.    How rare is it? This is very rare.
c.     How hard is it for others to copy it? I find that it’s hard for people to listen if they hadn’
d.    Are there other resources that can provide the same benefits? No.
5.    I have a good financial reputation so I could take out a loan.
a.     Why is it valuable? If I need to take out money for my business, I can.
b.    How rare is it? I don’t think this is very rare.
c.     How hard is it for others to copy it? Pretty easy, all they need is to be trustworthy toward their credit card company and banks.
d.    Are there other resources that can provide the same benefits? No.
6.    I have access to UF’s academic resources.
a.     Why is it valuable? I have a great institution at my fingertips!
b.    How rare is it? Not that rare, especially in Gainesville where most college aged students go to UF or Santa Fe.
c.     How hard is it for others to copy it? Not that hard
d.    Are there other resources that can provide the same benefits? No.
7.    I’m proficient in Microsoft programs including Excel.
a.     Why is it valuable? I can use these skills for marketing purposes.
b.    How rare is it? Not very rare
c.     How hard is it for others to copy it? Easy
d.    Are there other resources that can provide the same benefits? Yes, other people in other companies can do this too
8.    I have a positive attitude.
a.     Why is it valuable? It lays a positive foundation!
b.    How rare is it? Pretty rare; most people want to be realistic not positive
c.     How hard is it for others to copy it? Pretty hard; it needs to be authentic
d.    Are there other resources that can provide the same benefits? No
9.    I am a quick learner.
a.     Why is it valuable? Because I can pick up on new skills quickly
b.    How rare is it? I don’t think this skill is so rare
c.     How hard is it for others to copy it? Pretty hard because you either are a quick learner or not
d.    Are there other resources that can provide the same benefits? Nope.
10. I am a creative individual.
a.     Why is it valuable? Because I bring my own thoughts and ideas and can put a fun twist on them!
b.    How rare is it? Pretty rare
c.     How hard is it for others to copy it? Yes
d.    Are there other resources that can provide the same benefits? No

Top Resource and Why:  I would say my top resource is being a great listener. While there are some others that are close seconds, nothing can get accomplished if we don’t take the time to listen to those around us and most importantly, ourselves.

Friday, March 23, 2018

Reading Reflection No. 2


Assignment 21A
For this exercise, I selected Thinking Fast and Slow by Daniel Kahneman from the second half of the ENT 3003 Reading List.

1) The general theme of the book was that there are two systems within each individual, the rational and logical system contrasted with the impulsive one.
2) The book connects with what we are learning in this class because as entrepreneurs, we have to understand the way people work on a basic level, as well as our customers. Knowing that there is both the rational and irrational system in each of us helps entrepreneurs understand how to market products and create their business in a way that acts on certain instincts of the potential buyer.
3) If I had to create an assignment for this class, I would ask people to record a variety of daily situations they experience for a week and then reflect on which ones use the rational system and which use the intuitive system.
4) The “aha” moment I experienced was realizing how much of an intuitive thinker and feeler I am. Almost everything I do comes out of a place of trusting my own gut. I know people who are very rational and I honestly think that a healthy middle is a good place to be.