My Unfair Advantage

To understand my post go to my idea napkin 2 post And look over it so What I explain Makes more sense. http://lovetravellives.blogspot.com/2016/03/idea-napkin-no-2.html

Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 

1. My first resource is that I have several people in my network that are or have been entrepreneurs. 4 of my family members , including my dad, and several family friends have had their own businesses so they are useful assets

2. My Business Culture. so even though it is not existent yet, my emphasis is to make it a Family environment , especially among employees. Possibly have company retreat or group building exercises; I want to be efficient but I also want to be Someone my employees Can confide in. That Will be reflected in the customer service provided.

3. I have excellent networking skills. A lot of the jobs I have had and Current leadership positions have all been attained through networking. I have Volunteered with the Alachua humane society , SO if I Volunteered more and go to Know the people in charge, I can establish a Connection For having the dogs at the Cafe.

4. I am a person who is very selfless and I love being able to help Others, which makes Me a sincere person. This Will help me With investors who want to do good and for the animal shelters who want the best for their animals. that way eventually the dogs at the care will hopefully become One of my unfair advantages

5. Aside from entrepreneurs I personally Know, the business I plan to design is new to the United States, but it is completely common in Korea. I Spent 4 months in Korea And I Observed their business model, and even talked to some owners. So I've Seen what is needed to succeed.

6. I have experience in digital marketing. Making videos, flyers, social media posts and events, emails, Etc. This is extremely beneficial for promotion of my business, especially for my target audience.

7.I have connections in other countries. I have friends all around the world in business Who I can Contact to help me see if what My business needs in terms of goods is Cheaper to access than in the US or if it is belter quality; Some friends in Colombia can put me in Contact With coffee distributors For quality coffee.

8.Something that I Consider to be a very useful resource is that I Am a current college student so that makes my business more relatable to Other Students ( my target market) and can help me develop and improve the business in the future. Being younger also gives businesses a fresh perspective.

9. My dedication and perseverance are Key. Once I start something I need to see it through until the end, no matter what , Which will be useful because Start ups are no easy task And people Can lose Confidence and give up.

10. Although I do not have much, I have already started saving money for a Startup which is beneficial in the long run. Its a Startin the right direction.

Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?). 

1. So I think . this is extremely valuable, rare, not easily Copied, and cannot be substituted. I think this is an attribute that needs to come naturally from a person or needs to be developed because having a network of Self Starters is a great aid.

2. Very Valuable, not rare, Can be copied, no substitutes. Lots of businesses are family oriented just in different ways

3. very valuable, Somewhat rare depending on the personality Of a person, hard to copybecause It has to come naturally, and no substitutes. Networking is a Skill that can make or break you.

4. very Valuable, Somewhat rare, cannot be copied because it comes naturally, NO substitutes.

5. very valuable, not rare Because anyone can do it, can be easily copied, not much substitute to observing an existing business Other than having research on it but not as useful.

6. Very Valuable, not rare AT ALL ) can be Copied, one substitute Could be Word Of mouth and press Coverage of business ( Maybe?)

7. Extremely Valuable, rare for Startups, can't be copied, no substitutes. Connections are crucial around the world in a global economy.

8. Valuable, Somewhat rare, can be Copied since there are several young entrepreneurs , no substitutes really.

9. Essential (very valuable) ,rare in some types of people, cannot be Copied, no substitutes.

10. Valuable in the future, not rare ,can be copied, sutstitutes Would be loans or Other forms of borrowing money.

After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

My top resources are my network Of fellow entrepreneurs. It's like When doing a research paper; you can look up secondary data, but primary data right from the Source Will give you the last results. Entrepreneurs Know what to do and can advise me from their previous experiences. It's like having a Sort of hint Sheet to not Make the Same Mistakes they did. Who Knows, they may even have Connections that they can introduce you to.

thanks for reading and let Me Know if you agree or disagree!