What complementary assets are critical to develop?

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Presentation transcript:

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

Macroeconomic Change Entrepreneurial Motivation Entrepreneurial Behavior Industry Condition Industry Status Opportunity Identification Value Curve Competition Learning curve Complementary assets Reputation effects The Opportunity Analysis Canvas TM 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