1.
Initial Developers (2)
a.
V: Allows initial setup and inspiriation to
develop the app.
b.
R: No one can imitate passion.
c.
I: Ideas can be kept secret between the two.
d.
N: Please refer to R and I.
2.
Starter Cash ($2500+)
a.
V: Allows for a base cash flow to allow research
and development.
b.
R: Many startups don’t have cash to begin with.
c.
I: Cash can not be taken from the developers.
d.
N: N/A
3.
Connections with the Fitness Industry
a.
V: Helpful to have people who know what can sell
within the fitness industry.
b.
R: Many people do not have these kinds of
connections
c.
I: These connections are built specifically with
the developers, so to find a similar one would be challenging.
d.
N: Nothing can substitute great advice from
insiders knowledge.
4.
Connections with Application Programmers
a.
V: Helpful to have people who know what can sell
within computer programming fields.
b.
R: Many people do not have these kinds of
connections.
c.
I: These connections are built specifically with
the developers, so to find a similar one would be challenging.
d.
N: Nothing can substitute great advice from
insiders knowledge.
5.
Marketing Skills
a.
V: Useful to be able to effectively sell ideas.
b.
R: People may not have a marketing background
and thus have to hire someone to perform this work.
c.
I: Specific strategies for marketing are used
for each person, thus making it hard to replicate new ideas, at first.
d.
N: Keep these skills to myself in a consistent
and documented format.
6.
Advertising Skills
a.
V: Useful to broadcast the product and its
features.
b.
R: People may not have a marketing background
and thus have to hire someone to perform this work.
c.
I: Specific strategies for marketing are used
for each person, thus making it hard to replicate new ideas, at first.
d.
N: Keep these skills to myself in a consistent
and documented format.
7.
Social Media Skills
a.
V: Useful to interact with larger platforms and
have knowledge of commonly wanted features.
b.
R: People may not have a marketing background
and thus have to hire someone to perform this work.
c.
I: Specific strategies for marketing are used
for each person, thus making it hard to replicate new ideas, at first.
d.
N: Keep these skills to myself in a consistent
and documented format.
8.
Fitness Knowledge & Expertise
a.
V: Personal knowledge and expertise is useful
with insider “tips and tricks”.
b.
R: No one knows EVERYTHING so personal expertise
is useful.
c.
I: N/A
d.
N: To be useful in a field where my idea works,
the knowledge is NEEDED.
9.
Sales Skills
a.
V: Useful to be able to sell the product
personally or to pitch to investors.
b.
R: People may not have a marketing background
and thus have to hire someone to perform this work.
c.
I: Specific strategies for marketing are used
for each person, thus making it hard to replicate new ideas, at first.
d.
N: Keep these skills to myself in a consistent
and documented format.
10. Laptop
a.
V: Useful for communication and programming
efforts.
b.
R: A personal laptop allows freedom and personal
document storage.
c.
I: N/A
d.
N: Utilize a consistent laptop so that it can be
utilize if the idea grows larger.
Currently, I believe my laptop is my greatest asset/resource
for my current needs. This allows me to research, document, and create personal
time for my business idea and needs in a flexible manner.
I like the way you organized your VRIN analysis; it was easy to read and understand. I think having a laptop is definitely a valuable resource, but it's easy to imitate with a personal tablet or iPad that might be more portable. I would say your social media skills are also very important in getting started in the industry and spreading the word about your product.
ReplyDeleteYou have done an excellent job of explaining your venture’s advantages. It is great that you have $2500+ in startup cash, you will need it. Having connections with both the Fitness Industry and with Application Programmers will be vital to helping you develop you fitness app. You will be putting your Marketing Skills, Advertising Skills, and Social Media Skills to good us as you launch the app and work to attract users.
ReplyDeleteThe laptop is a great tool. It allows you to run almost all aspects of a business from anywhere. In your industry a laptop is necessary. in order to troubleshoot problems and communicate with developers, customers, and advertisers. I think the other advantages that your business posses are crucial as well. However, the laptop is by far the most important
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ReplyDeleteHey Adam. Credit lines or investments are going to be the substitutes for cash. I think that many startups are without an initial cash boost but it’s common to find different ways to fund it.
ReplyDeleteHaving a variety of skills will give you an increased advantage with the more that you have. I think that each skill can be substituted with strength in another.