Friday, April 10, 2020

23A- Your Venture's Unfair Advantage

1) Connections
VRIN- My connections are valuable as they are people who are in power. They, themselves, have their own companies and are willing to help due to being close family friends. It's rare because, not many people have that one or two special connections that would seriously jumpstart their idea. Inimitable, it's difficult to have constant, direct contact with those who have their own empire. This is definitely not substitutable.

2) Start-up investment
VRIN- This is valuable because, I have strong financial backing. People do have financial backings but, it may not be as strong. It's not truly difficult to have financial backing because, the bank itself has the power to give people loans. This is not substitutable, money is an essential.

3) UF student
VRIN- This is valuable because, the title of being a student within the top 25 universities in the nation, sits well in the mind of supporters. This is rare due to other students not having the same brand. It's not difficult due to colleges/universities that are known specifically for business. This may be substitutable because, people care more of what you have to offer.

4) Idea
VRIN- This is valuable because, people are more focused on trying to have a stable income instead of helping others and gaining that worldwide respect which, leads to more financial income. It's rare because, not many people have the concept of care packages and/or want to pursue the idea of care packages. It's difficult to imitate because, not many have the connections needed to be able to produce, supply, and deliver to consumers door's worldwide. This is not substitutable, my idea is founded on this.

5) Work Ethic
VRIN- This is valuable because, the drive to get the job done, no matter the circumstances, leads to great success. It's rare due to not many people having the mentality of going out and truly getting what they want. Nowadays, it's a tad bit difficult to know someone who has high work ethic. This is not substitutable, without drive, the work won't be done.

6) Communication
VRIN- This is valuable because, communication is key in getting your idea across and also receiving even further support. It's rare because not many people know how to properly communicate with others, and/or mess up their opportunities during conversation. However, there are people that know how to communicate very well, making this resource not as inimitable. This is not substitutable, communication is key in all things.

7) Passion
VRIN- This is valuable because, with passion, your drive to get what you want in order to succeed, is certainly in reach. This is rare due to not many people having passion, they just sometimes think "sure I'll do it" and drop the project midway. This is a trait that's not as difficult to imitate due to everyone having a passion for something. I suppose this is substitutable for another resource like, grit.

8) Intelligent
VRIN- This is valuable because, being an ingenious individual will surely take you ways. This is rare, as there are people who claim to be "intelligent" but, their actions deem otherwise. This is difficult to imitate because, not everyone has this trait and to gain it is another story. This is not substitutable, you must have some type of wit to keep your project going strong.

9) ENT3003
VRIN- This is valuable because, there are many students in this class and Professor Pryor, himself, who can put in their 2 cents of advice and ideas. This is rare because, there are several other students taking this class as well. This is somewhat difficult to imitate because, not all students have a student body and professor willing to advise them. I believe that resource is not substitutable.

10) Determination
VRIN- This is valuable because, it determines if the project will reach it's goal and if it'll last. It's rare because, many people decide to give up if things don't go the way they'd like. This is difficult to imitate because, not everyone has the strong suit to push after every failure. This is not substitutable, without determination, the project will fail.

My top resource would most definitely be, connections. Connections would greatly help someone jumpstart their idea, and help it come to fruition.

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