Ten Resources
- Investment Banking connections
- will help me as my business
progresses
- not many people have access to this
industry
- not easily copied because people can’t
copy a network with ease
- Connections w/ current entrepreneurs
- will teach me skills of the trade
- only few people from UF will
possibly be able to imitate
- successful entrepreneurs are hard
to find
- Business school connections
- successful people in all sorts of
different industries
- No one is capable of going through
my college experience and being able to imitate what I have done
- Finance knowledge
- helpful in running a business and
negotiating with potential investors
- only people who have a degree in
finance will be able to compare
- there is a high cost to obtaining a
degree that would imitate what I have
- Leadership knowledge
- Being able to lead a group of professionals
- few people focusing on leading
rather than managing
- leadership education is hard to
find and mentors don’t come easy
- Professional Experience
- Taught me how to operate in a
corporate setting
- Hard to obtain internships with
fortune 50 companies
- There aren’t many who can say that
they have been able to do this before graduation
- People Skills
- Something that you can’t teach to
people
- People can’t always communicate
effectively and are awkward in high stress situations
- If people had them they would use
them
- Wealthy Network
- knowing these people can help in
raising capital
- can’t necessarily choose who you
know and how they can help
- people can’t just decide to choose
who they know and who would give them money
- Good credit
- will allow me to obtain loans from
financial institutions
- few at my age have this going for
them
- people can’t change this at the drop
of a hat
- Great friends
- people will help me succeed in
difficult situations
- not everyone has people that will
do hard things for them
- there is a lot that goes into
making good friends and a lot of time. Can’t imitate at the drop of a hat
- My wealthy network may be the most important in the
beginning of a business because I will need a lot of funding that will allow me
to grow. Without it I could run out of money and that would result in failure.
Just clarifying, by "wealthy network" you meant one that has an overflow of wealthy people or one that is vast and diverse? But wow, you have some really cool resources at your fingertips, like investment banking connections! It's very practical of you to prioritize your cash inflow as most important since that what will make or break you in those early years.
ReplyDeleteHey Nicholas!
ReplyDeleteI think you came up with a great list of all of your company's resources for this week's assignment. I think having people skills is especially important in launching a business. But I think I'd agree that your wealthy network may be your best resource. Every product needs capital and support to gain traction. Overall great work on this assignment!
Nicholas, I really enjoyed reading your ten resources. The best part of this assignment is to see a variety, and most of your resources were different! In addition to that, you clearly explained each of your resources well. I also completely agree with you that your wealthy network is the most important resource. Without a wealthy network, your company will struggle to become successful.
ReplyDeleteHey Nicholas,
ReplyDeleteI think you came up with a great list of resources in this post. I believe that networking and people skills are extremely valuable to starting a business. I thought you did a good job describing some of the aspects of each resource