Assignment 23A- Your Venture’s Unfair Advantage

Assignment 23A- Your Venture’s Unfair Advantage

1.Unique

V- Valuable because it differentiates the product

R- it is rare to be unique these days

I- It can be imitated but may take longer

N- Does not apply

2. Fundraising experience

V- This allows me to build valuable capital

R- not rare
I- This can be imitated
N- This could be substituted but would be more costly

3. Business knowledge

V- valuable because I have a degree in business

R- Not rare
I- Can be imitated because many hold a business degree
N- It cannot be substituted with another degree because it wouldn't be applicable
4. Business experience

V- valuable because has prior knowledge and experience

R- experience can be rare

I- My own personal experience cannot be imitated

N- My own personal experience cannot be substituted

5. Support

V- This is extremely valuable because support can relate to high sales
R- This can be rare for some companies
I- True support can’t exactly be imitated
N- Cannot be substituted

6. Marketing experience

V- valuable in launching the product and continuing to spread the word
R- experience can be rare
I- my own personal experience can’t be imitated
N- my own personal experience cannot be substituted

7. Passion

V- passion is very valuable to a new company's success
R- Passion can sometimes be rare
I- Passion cannot be imitated
N- Passion cannot be substituted

8. Social Capital: business’

V- Very valuable to have other business’ support and backing
R- This can be very rare for a new company
I- This cannot be imitated
N- This cannot be substituted
9. Social capital: prototypical customers

V- It is very valuable to have real-life examples of prototypical customer
R- it is rare to have real-life examples
I- It can be imitated
N- It can be substituted

10. Social capital: UF greek life

V- Creates an extensive network of people
R- Rare because it is a small percentage of UF
I- It cannot be imitated
N- It cannot be substituted

After conducted the VRIN analysis it is sort of difficult to choose which resource would be most valuable. They all seem like a very important factors to making a successful business. I think the aspects of experience would be the most important. I think that my product is pretty rare and it would be very interesting to see what another competitor would do differently.