Tuesday, March 22, 2016

My Unfair Advantage


Resources in my venture: 

  1. Knowledge of the Gainesville area, specifically around campus.
    • Valuable - yes 
    • Rare - not in this particular area but rare outside of Florida for sure
    • Inimitable - if you spend enough time in the area anyone can learn it but you wouldn't necessarily know where the college kids go
    • Non-substitutable - you could always talk to locals but first hand knowledge is the most useful 
  2. Accounting knowledge. 
    • Valuable - yes
    • Rare - no 
    • Inimitable - yes 
    • Non-substitutable - a computer program could do the same thing 
  3. Business knowledge. 
    • Valuable - yes 
    • Rare - no
    • Inimitable - yes 
    • Non-substitutable - not unless your company is going to be run by computer robots
  4. Potential start-up money from family.
    • Valuable - yes
    • Rare - not sure actually
    • Inimitable - yes
    • Non-substitutable - other cash would work just fine 
  5. A pressing need for my product.
    • Valuable - yes
    • Rare - yes 
    • Inimitable - no, you can't manufacture a need that doesn't exist
    • Non-subtitutable - yes 
  6. A client base I can easily relate to.
    • Valuable - yes 
    • Rare - no
    • Inimitable - no 
    • Non-substitutable - yes 
  7. Marketing skills towards the right people (millennials). 
    • Valuable - yes 
    • Rare - not in today's day and age 
    • Inimitable - no 
    • Non-substitutable - yes 
  8. Access to UF Faculty, Staff, and Business Advisers. 
    • Valuable - depends on how I use it but it could be 
    • Rare - not in Gainesville
    • Inimitable - no
    • Non-substitutable - any professional with experience could offer similar advice so no 
  9. Self-disciplined. 
    • Valuable - yes
    • Rare - perhaps on who you're asking
    • Inimitable - no
    • Non-substitutable - yes, you have to be dedicated to get a business working 
  10. A car.
    • Valuable - yes
    • Rare - nope
    • Inimitable - other public transportation 
    • Non-substitutable - yes. I need to get around somehow and buses take too long/don't have a bike/can't walk everywhere
After looking at all my current resources, I think my most valuable resource is the undeniable need for the product (parking close to campus). It was the only one that was valuable, rare, not able to be copied by others, and something you can't do without. 

1 comment:

  1. Hey
    Great job on this assignment. Many of your unfair advantages do not seem to be rare, which could be concerning if there were to be any competitors in your market. I agree that first hand knowledge is always better than speaking with locals when it relates to having knowledge of the Gainesville area. You can check out my blog post at http://mercerwill.blogspot.com/2016/03/my-unfair-advantage.html

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