Showing posts with label Week 11. Show all posts
Showing posts with label Week 11. Show all posts

Sunday, March 27, 2016

The Amazon Whisperer


My revenue drivers will be my customers that come to my restaurant in search of quick, healthy food. It will also be the real food I use. Although it will not be organic, it will be healthy and keep costs down.

I think the next thing customers will want will be a vegetarian menu. Right now, I haven't focused on that. I've focused more on healthier alternatives to what is already offered at classic fast food restaurants.

I think it will bring in another market niche. It won't increase switching costs. In fact, I think it will decrease them. It will improve the customer experience by offering more variety to the existing menu. It would foster customer loyalty by having none-vegetarians bringing their vegetarian friends and having a place for the group to eat.

Amazon doesn't offer restaurants yet. The best thing I know of would be the Amazon pantry option. It's used to deliver food to people in certain areas, but the customer still has to wait for the delivery and cook the food, which is besides the point of my business.

Because there is not a product similar to mine, there were not customer reviews to look at or modifications to suggest.

Week 11 Reading Reflection

I was confused by how the author said "don't use someone else's system, but don't be afraid to learn from their system, but know it won't work for you." Of course no one's system for any operation will work across the board, but businesses still take that system and modify it. So I think it would have been better for the author to say that no system works for everyone, but take an existing system and make it work for you.

Two questions I would have for the author would be "Doesn't having a strategy facilitate execution?" and if companies struggle so much with innovation systems, why do we have so many innovating companies?"

I disagree that the author thinks there is a difference between a failure to execute and not having an innovation strategy. I think without a strategy, it is difficult to execute, but I think having a strategy helps facilitate execution.

Wednesday, March 23, 2016

My Venture's Unfair Advantage


  1. Responsibility-This is a very valuable resource. People like knowing they can trust someone. While it might not be the most rare, there are only a certain number of people that have this. It can not be imitated. You have the attribute or you don't, which makes it impossible to substitute as well.
  2. Loyalty-Again, very valuable, as people like to know someone is on their side. It can be rare, not imitated, and cannot be substituted
  3. Honest-Always valuable, not as rare as the others. Cannot be imitated, and cannot be substituted.
  4. Use of non-organic food-People might see this as a weakness, but it is actually my secret weapon. There are not many differences in organic and non-organic food as far as health,  just price. This is rare knowledge, as many people think organic food is the new frontier. However, it will be what keeps my prices low. I think this is very valuable and rare. It can be imitated, however the only way to substitute it is to spend more.
  5. Work ethic-I am very determined to find the best options possible. This very valuable, can be rare, cannot be imitated or substituted.
  6. Contacts-I know people in the food service industry that can help me with starting a food business. This is very valuable, not really rare, but it cannot be imitated. However it can be substituted. 
  7. Leadership-This is very valuable and rare. In theory it can be imitated, but not substituted
  8. Sociable-I'll always have a smile on my face. This is very valuable, but it is not rare, can be imitated, and can be substituted
  9. Market-I have a huge market for my product. This is extremely valuable, rare, cannot be imitated, and cannot be substituted.
  10. Support-This is hugely valuable, cannot be imitated, is rare, and cannot be substituded
I think my most valuable resource is that I'm not going to use organic food and keep my prices down. Organic is not the definition of healthy and I will show that in my business.