Assignment 23

1. Social capital: other entrepreneurs
a. Valuable: yes, because they can give me resources such as tips, people, and supply me with what I need.
b. Rare: no because it is easy to know people who run businesses
c. Inimitable: yes
d. Non-substitutable: no

2.Social capital: People with financial skills
a. Valuable: yes because they have knowledge needed for this type of work.
b. Rare: No, people are learning these skills as we speak in colleges and universities
c. Inimitable: yes, most likely
d. Non-substitutable: yes

3. Knowledge of finances and markets
a. Valuable: yes, because it is the very basis of what I am selling.
b. Rare: yes because they are plenty of people who know finances but fewer people actually using it on the field.
c. Inimitable: no because those are years of experience
d. Non-substitutable: no

4. Marketing
a. Valuable: yes, because it is important to sell the idea to others
b. Rare: no because it is common to see people taking public speaking courses
c. Inimitable: maybe either you can make an animated presentation, or you can try to get someone else to do it for you
d. Non-substitutable: yes

After doing an VRIN analysis I realize what I need the most at the moment is knowledge of the financial world and markets. It is the best one due to the importance of it in creating the service in the first place because I need to know the market to understand if a business idea is viable and practical in the first place.