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What complementary assets are critical to develop?
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Objectives• Examine complementary assets in the
context of competition• Explore the impact of complementary
assets on your success as an entrepreneur
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MacroeconomicChange
Entrepreneurial Motivation
Entrepreneurial Behavior
Industry
Condition
IndustryStatus
Opportunity Identification
ValueCurve
Competition
Learning curve
Complementary assets
Reputation effects
The Opportunity Analysis CanvasTM
Entrepreneurial Mindset
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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
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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
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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
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A venture opportunity could be to develop Complementary Assets for new products
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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