Assignment 23A – Your Venture’s Unfair Advantage

Resources in my venture:

1. Financial Support from Potential Investors

a. Value: This resource is very valuable to my business and will allow me to pursue my opportunity.

b. Rare: Somewhat rare, it depends on who your investor is and if they are involved.

c. Inimitable: This is easy for others to copy, especially with how you started your business.

d. Non-substitutable: Other resources allow you to still get your business started, like other businesses.

2. Network of Partnerships to Help the Business

a. Value: This resource is very valuable because these people in your network can help you with starting your business.

b. Rare: Somewhat rare because others might have special people in their network too. However, I have a unique set of people that I know that can help me succeed in my business. 

c. Inimitable: Others can obtain people to help them with their businesses, so this is easy to copy.

d. Non-substitutable: There are other resources like the internet that can help people. However, my network is not replaceable and unique.

3. Dedication

a. Value: Very Valuable to any entrepreneur or someone that is striving to achieve their goals. 

b. Rare: I consider my dedication very rare as I believe that I am the most determined person I know, and my friends and family would agree with me.

c. Inimitable: This is very hard for someone else to copy because dedication comes from your heart and mind and experiences. Not everyone has the dedication I have.

d. Non-substitutable:  There are no other resources that can provide the same benefits, so this resource is non-substitutable. 

4. Unexplored Market for Scooter Courses

a. Value: This is the most valuable resource because there are no courses in Florida, and if there were any, they don’t offer a discount on buying a scooter.

b. Rare: This is very rare because there are currently no scooter courses offered in the state of Florida.

c. Inimitable: There is no competition and so it would be hard for others to copy this resource.

d. Non-substitutable: There are no other resources that can provide the same benefits, so this resource is non-substitutable.

5. Leadership

a. Value: Very important and valuable in starting a business and getting people to follow your lead.

b. Rare: This is rare because the leadership style and knowledge that I possess is different for everyone. Based on research leaders are mostly made, and only somewhat born. 

c. Inimitable: This can be easily copied by other people from learning new styles and how to be a better leader.

d. Non-substitutable: Some resources can provide the same benefits, like professional help from people in a leadership position.

6. Employees

a. Value: They are important and valuable to help you start conducting your business and help customers.

b. Rare: Somewhat rare depending on the type of people that you have working for you, then it becomes not so rare as more time passes.

c. Inimitable: It is easy for others to copy and obtain employees for their business.

d. Non-substitutable: Other resources are depending on your business that can allow you to achieve the same benefits as automated systems (A.I.).

7. Social Capital: Important Supplier for my business is Jeremy Smith. He is the manager and part of the Market Analytics & Product Education Group for Kawasaki Motors Corporation.

a. Value: There is so much value in knowing and being able to contact this person. This person is so valuable to learn how to educate riders.

b. Rare: This is very rare and not that many people can have a supplier like this already.

c. Inimitable: It is hard for others to copy this because they don’t know this person, and as an entrepreneur it is about who you know, not what you know.

d. Non-substitutable: There are no other resources that can provide the same benefits, so this resource is non-substitutable.

8. Location of my Business

a. Value: There is value about having my business in Gainesville with a large population of scooter riders.

b. Rare: It is somewhat rare; it depends on where you decide to conduct your business and if there are a lot of scooters in that city or town.

c. Inimitable: It is easy for others to copy by just opening their business in the same town or a college town.

d. Non-substitutable: You can get some value by going to a different city with a college nearby, it will depend on the percentage of scooter riders.

9. Equipment

a. Value: The is some value from my product/service mix because they are unique and nothing like it in the market.

b. Rare: This is reasonably rare since this mix is new to the scooter industry but not the motorcycle industry.

c. Inimitable: It is difficult for others to copy because they would need to get all the businesses to be in sync with each other. 

d. Non-substitutable: There are currently some other resources to provide the same benefit. For example, motorcycle courses and the internet.

10. Knowledge of Business Management and how to apply them to my business

a. Value: My knowledge is useful for helping my business progress and attract committed employees.

b. Rare: This has some rarity because for my age and where I am at in life compared to the same age group, I benefit from my knowledge.

c. Inimitable: Others can copy this with the internet or books to achieve the same benefits.

d. Non-substitutable: You can research these things on the internet to obtain the same benefit. However, my knowledge and experience is unique and non-substitutable.

Top Resource: In conclusion, my top valuable resource is my unexplored market for scooter courses and being able to obtain a new or used scooter. VRIN has allowed me to acknowledge my most valuable resource and will help me take advantage of it. The reason it is the most valuable because it is very valuable, rare, can’t be copied by others and not many other things that can be substituted with it. There is currently no competition with my product/service mix and it’s hard for others to get the same value if there were any substitutes in my market.