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What complementary assets are critical to develop?
Objectives• Examine complementary assets in the
context of competition• Explore the impact of complementary
assets on your success as an entrepreneur
MacroeconomicChange
Entrepreneurial Motivation
Entrepreneurial Behavior
Industry
Condition
IndustryStatus
Opportunity Identification
ValueCurve
Competition
Learning curve
Complementary assets
Reputation effects
The Opportunity Analysis CanvasTM
Entrepreneurial Mindset
Defining complementary assets
“capabilities or infrastructure to support commercialization, beyond assets
fundamentally associated with the product”
• Includes tangible resources (money, equipment, and real estate) and intangible assets (knowledge, relationships, and IP)
• Entrepreneurs may have an advantage over competitors when their knowledge, relationships, and/or IP is significant
Avenues for complementary assets• Build
– For example, buy or rent a warehouse for order fulfillment, hire staff, manage operations, etc.
• Buy
• Collaborate– Often the fastest and cheapest path for entrepreneurs
Famigo + AT&T collaboration
Complementary assets may increase demand and commercialization • Improved benefits, utility, interoperability,
etc. can drive market demand higher– Sony PS3 sales increased with Blue-ray DVDs
availability for sale and for rent
A venture opportunity could be to develop Complementary Assets for new products
Summary• Beware of starting a company in an area
where the company with the most money wins
• Instead, compete where knowledge, relationships, and/or IP are complimentary assets and key sources of competitive advantage
• Seek collaborative, innovation-based solutions to tackling competitors