23A- Your Venture's Unfair Advantage

1.     Public Speaking Experience- I have taken classes in public speaking and given a speech in front of more than a thousand people at my graduation.

·       Valuable: I think this is valuable because I would be able to communicate with customers and companies about my product. 

·       Rare: This is not rare; I could hire someone to do it.

·       Inimitable: This could be imitated, but it would never be exactly the same. 

·       Non- Substitutable: Another spokesperson. 

2.     Uniqueness of Product

• Valuable: There is no other comparable product, good for standing out. 
• Rare: This is rare because there are limited competitors. 
• Inimitable: Yes, if I did not receive a patent someone could come and copy me.
• Non- Substitutable: Other products could definitely be the first of it’s kind. 

3.     Support of Scooter Retailers

• Valuable: Yes, if companies would be inclined to buy it, it would make the start-up easier. 
• Rare: It is kind of rare, products can be developed with the purpose of helping existing businesses. 
• Inimitable: No, this relationship and motivation of the dealers cannot be imitated. 
• Non- Substitutable: There could be other products that would help scooter dealers sell more. 

4.     Human Capital: Education

• Valuable: I believe my education up to this point is valuable for communication and leading purposes. 
• Rare: Kind of, many people have a similar education as I do. 
• Inimitable: Not exactly, someone could take the exact same courses, but would never retain the exact same amount as I have.
• Non- Substitutable: There could be an equivalent student or greater than me.

5.     Fundraising Experience:

• Valuable: Different clubs and organizations have taught me valuable lessons that can be applied to starting a business. 
• Rare: Many people have this skill or can attain it.
• Inimitable: No one can imitate a person’s experiences exactly, but they can get close.
• Non- Substitutable: Someone could be trained in fundraising and hired. 

6.     Human Capital: Driven

• Valuable: Yes, I set goals and accomplish them.
• Rare: No, there are many driven people in this world.
• Inimitable: Individualized, no one can have the same exact drive as me.
• Non- Substitutable: No one can substitute my personal drive.

7.     Social Capital: Heavener Business School

• Valuable: Yes, this offers connections and hands-on experience. 
• Rare: Relatively, limited to UF Business Students.
• Inimitable: No, no person could have the exact same connections or experiences as I. 
• Non- Substitutable: Could substitute with connections from a different school.

8.     Social Capital: Greek Life

·       Valuable: More connections and social skills.

·       Rare: No, Greek life is large at many universities.

·       Inimitable: No, no person can be in the same chapter and have the exact same connections.

·       Non- Substitutable: Someone could have a similar network at a different school.

9.     Social Capital: Relationship with Victims          

·       Valuable: Yes, it can use to promote.

·       Rare: Yes, having direct contact with someone with these experiences can be rare.

·       Inimitable: No, relationships cannot be imitated. 

·       Non- Substitutable: This could be substituted by statistics and facts. 

10.  Human Capital: Knowledge of Social Media Platforms 

·       Valuable: Yes, can be used to promote a product. 

·       Rare: Sort of, grew up during the peak of social media. 

·       Inimitable: No, no one can have the exact experiences with the exact platforms I have. 

·       Non- Substitutable: It could be substituted with other forms of marketing. 

After doing the VRIN Analysis, I am pretty stuck between which resource is the best overall. I definitely had a hard time coming up with ten items and had to get creative. I overall would think that the uniqueness of my product would be the most valuable. 

Being that my product is unique, it would be the most enticing for customers to buy. This does not mean that I think it will be successful just because it is unique. However, when placed in the right conditions, I feel like my product would stand out.