1. Excellent customer service skills.
Valuable: Yes. This is not something everyone can do.
Rare: No. While not everyone can do it, it can be taught easily.
Inimitable: Yes. Again, many can mimic excellent customer service.
Non-substitutable: No. You can never substitute excellent customer service.
2. Good salesperson.
Valuable: Yes. A good salesman is hard to come by.
Rare: Yes. A good salesman is hard to come by.
Inimitable: Yes. It can be taught, so theoretically others can do it, but it is not easy.
Non-substitutable: No. A salesman is needed to get those customers to purchase.
3. 401(k) to use for startup.
Valuable: sort of. It gives me the ability to get started quickly and not have to save.
Rare: no. anyone can use their 401(k)
Inimitable: Yes, anyone can use their 401(k)
Non-substitutable: Yes, one can start up with other funds, or no funds even.
4. Very little products needed to get started
Valuable: yes, less money to have to spend to get started
Rare: no.
Inimitable: yes
Non-substitutable: yes
5. College degree in business
Valuable: yes, gives me an edge that others do not have
Rare: sort of. A lot of entrepreneurs do not have one
Inimitable: yes, anyone can get one
Non-substitutable: yes, one does not need a degree to start up a business
6. Family support
Valuable: yes, having that support will help me during tough times
Rare: yes, not everyone has a family’s support
Inimitable: yes most do have families that support
Non-substitutable: yes one does not need ones family support to do this.
7. A large metroplex area to serve
Valuable: Yes, it gives me more opportunities to make a sale.
Rare: not really, there are a lot of big metroplexes.
Inimitable: yes
Non-substitutable: one could do this without a large metroplex, but it may be hard.
8. 18 years in retail. I know people with bad parking lots.
Valuable: yes, I have inside people that will be able to connect with me and know me
Rare: yes, not everyone has inside people in retail
Inimitable: no. My network is my own
Non-substitutable: no, I will need it in the start-up process to get those early people.
9. I am a mom
Valuable: yes, it gives me the ability to show my customer the mom concerns
Rare: no, many a mom have concerns in their business ventures
Inimitable: yes, others in my field can bring in a mom to express safety concerns
Non-substitutable: yes, any parent or grandparent will have same effect.
10. passion and undying drive to get it done.
Valuable: not really, it might help stay the distance
Rare: no, most entrepreneurs have this same passion and drive
Inimitable: yes, everyone can have this drive
Non-substitutable: yes, you can still start a company with no drive.
My most valuable resource is being a great salesperson. This is going to be the most important thing that will need to be done for the business, selling that parking lot change!!
I think your list was very well put together. I think being a great salesperson is one of the most valuable resources anyone can have! A characteristic like that will get you places which can then lead you to a lot of profit. If you can sell parking lots to different companies, I think you could pretty much sell anything. You will need to make it seem like your parking lots are a must have and sell to them what makes it so much better than the one that they already have.
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