Resources
1. Location- My location is currently an important resource because I am currently living in the southern region of the United States, and am looking to start my business here. The southern region of the United States is also the area that is most often affected by natural disasters such as floods and hurricanes, so I feel that the fact that I am already located in the southern region of the United States is a huge resource.
2. Background- I feel that my background, and where I grew up can also help me when it comes to giving my venture an advantage. I live fairly close to both the cities of New York City and Philadelphia, so I understand that there are limited, and practically no areas of parklands in either city, similar to cities all around the country. I feel that my background and knowledge of these cities is a resource that can only help my business venture.
3. Knowledge of Finance and Accounting- I have succeeded in various finance and accounting courses in college, and when I was at home, I would help work on the accounting records and financial statements at one of my own families companies. I feel that my knowledge of both can help me make both smart business decisions, as well as the tough business decisions, both of which can help my venture succeed, and differentiate my business from other businesses.
4. Connections- My connections to various people in the construction and land development world have given me the knowledge necessary to understand what this type of business entails, and those connections can help me jumpstart my business, and separate my venture from other ventures.
5. Work Ethic- I feel that my work ethic is a very valuable resource, as I have been known to work on tasks until I feel that they are the best and most complete that they could possibly be. I work ethic, and my desire to be the best can help my venture separate itself from that of other ventures.
6. Honesty- I feel like my honesty, both with myself and others, can be very valuable. I feel that it is important to be honest in business, because it can help people recognize when it may be time to quit, but also when it is smart to take risks, and even make smart business decisions. I feel like my honesty can help me make smart business decisions, and help my business flourish.
7. Determination- I am an incredibly determined person. I have a get after it attitude, and I hate to quit out on things. My determination can help me beat out inferior competition, as well as help me cruise through obstacles and barriers to the success of my business.
8. Opportunity- I feel that the opportunity in this business is an incredibly valuable resource. Hurricanes and flooding are occurring more and more frequently and are becoming increasingly destructive, and our society has taken very few additional measures to further protect cities and citizens from these natural disasters. The fact that there are no extra precautions being taken means that there is a very nice opportunity for my business to both flourish, and outperform businesses similar to mine.
9. Personality- I feel like my personality is a huge part of my business. I am an incredibly friendly person and I feel like my personality can help me both increase the amount of connections I have in this business, but also build strong relationships with clients and suppliers, which is incredibly important in any business. I feel like my personality can separate my venture from other ventures.
10. Environment- I would say that an important resource is the environment, for two reasons. One with increasing frequencies for hurricanes and flooding, there will only be an increasing need for my business. The other factor is the fact that city environments are not designed to protect very well against extreme flooding, hurricanes, and moisture. The current environment is a very important resource for my business.
My Top Resource
I believe that my top resource is my honesty. I feel like the fact that I can be honest with myself, coworkers, and clients and suppliers. My honesty can help me make smart business decisions, as well as help me decide when to take risks, and when to avoid risks. I feel like all of the above is important when trying to create a thriving business. That is why I think that my honesty is my top and most valuable resource.
Hey Michael!
ReplyDeleteGreat post, you definitely took the time to go through all your resources thoroughly and with great detail. I think these are some invaluable resources that you have included. I even thought the fact that you included “honesty” was especially special due to the fact that this is a very important quality. I appreciate that this is included because it is good for a business to have a sense of ethics.
Hey Michael, great job with this post. I can tell you were very honest with yourself and with your venture, and I can see why you chose that as your most important resource. I think this was a very important step for our ventures, and your VRIN analysis is also going to help you with each resource. Great job and thanks for sharing.
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