The ability to communicate with people from the entire world in their mother language, since I am fluent in German, French, Spanish, English, and Luxembourgish.
Valuable: Extremely valuable since I do not have any communication barrier with people in the entire world
Rare: Only 3% of the entire world population speak more than four languages
Imitable: This is a unique skill that can only be acquired as a kid.
Non-substitutable: Could technically be substitutable but since only 3% of the population has that same skill, it would be extremely hard and expensive to find an adequate substitute
Extensive Knowledge about the construction of trams
Valuable: I have been involved in this topic for almost five years
Rare: not many people are involved in the construction business and in the specifical construction of trams
Imitable: If you would start studying and do extensive research on this topic, I guess you could get similar knowledge than me
Non-substitutable: It could be substitutable but not likely
Social Contacts that can help me realize my business idea
Valuable: highly since if you know these days the right people you have most definitely a competitive advantage
Rare: highly since they have been created over several years
Imitable: Not at all, everyone has different Social contacts
Non-substitutable: non substitutable
The real-life experience that a similar business idea of mine has already been successful
Valuable: highly since I already know most of the possible complications that come along the way
Rare: highly since this happened in a country that has only half a million people living in it
Imitable: experiences cannot be imitable
Non-substitutable: experiences cannot be substitutable
UF Student
Valuable: highly since I can still improve my network
Rare: not that rare since all UF students have the same access to this resource
Imitable: can be imitable by any other UF student
Non-substitutable: Once connections are made they are not substitutable
Having multiple nationalities gives me the possibility to travel all around the world for business meetings without having any barriers
Valuable: highly since most of the people always have to consider what policies the country has in which they have to travel to
Rare: Not everyone has three different nationalities
Imitable: My nationalities are American, Colombian, and Luxembourgish which allows me to travel without any issues to Europe, the U.S. and South America which can not be imitable
Non-substitutable: Definitely non-substitutable
Being an open-minded person and being extremely extroverted is a key competence for this kind of job that I have acquired through my various travels all around the world.
Valuable: It definitely is a lot of people these days are judgemental
about the belief of other religions or from different regions of the world.
Imitable: It is unique to the person's character
Rare: These days it has become more and more difficult to find people with open minds.
Non-substitutable: values are non-substitutable
Growing up in an entrepreneurial family gives me the right entrepreneurial mindset
Valuable: For the implementation of a business idea, having an entrepreneurial mindset is crucial
Imitable: I do not believe someone's mindset is imitable
Rare: Since there are more and more entrepreneurs out there, their mindset can be all defined as similar which is not extremely rare
Non-substitutable: A mindset cannot be substitutable since it would compromise the entire work balance
Being single and not having any attachments to a person or a company makes it easier to travel to places anytime and working late hours
Valuable: Implementing a business idea requires an important amount of time and a huge amount of dedication. Not having any responsibility such as children or a girlfriend can be extremely valuable for the well being of the job.
Imitable: It is since every single person has the same feature when being single
Rare: It is not rare, there are a lot of single men and women these days
Non-substitutable: It is substitutable
Pursuing a bachelor's degree in Finance gives me certain skills that I will use in my everyday life as an entrepreneur
Valuable: Not everyone pursues a bachelor's degree in UF and it is not easy to earn one which gives my education a certain level of value
Imitable: Can not be imitable unless you pursue the same career as me
Rare: It is rare if you consider the small number of people graduating with a Finance degree
Non-substitutable: It is substitutable
As far as I am concerned I would say that my top resource is my ability to know multiple languages. Excellent communication is one of the most important factors in conducting a profitable business.
Alexandro,
ReplyDeleteI also included the fact that I am a UF student as one of my advantages. I feel like it gives me access to so many resources and other students that could help me make my company materialize that it has benefitted me enough to become a powerful advantage I have. I also found it interesting that only 3% of people speak four or more languages. Not that I am surprised by how small this number is, it is just a very interesting thing to know. I think you really have a handle on what makes your company and you special.
It is great that you speak so many languages that is very important when it comes to business. I was surprised on what a small amount of people speak four languages. I agree with you that being a UF student is an advantage because there is a huge community of people in UF which can cause us to have many connections.
ReplyDeleteI think that your qualities are ones that are definitely beneficial. If I were an investor, I would be excited to work with someone who had these qualities. I think they will certainly help you to succeed in your business ventures.
ReplyDeleteAlexandro,
ReplyDeleteI have to say, I feel that you have hit the nail on the head here. Your ability to speak 5 languages is an incredibly helpful skill that will undoubtedly help you throughout the rest of your career. I also think that your familial history of entrepreneurship will prove to be extremely helpful, as it will help you know and avoid the many pitfalls that exist in the world of entrepreneurship.