My Unfair Advantage

·             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.  Social acceptance
2.  Ease of use
3. Availability
4. Uniqueness
5. Determination/Motivation
6. Focused and driven
7. Innovative
8. Extroverted
9. Easy to work with
10. Marketing and sales experience

·             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. Socially acceptable means that I am able to easily interact with others. It is very consistent and something that others pick up on and can imitate.

2. With the app downloaded straight to your phone, and the transactions being cashless, my service is very easily marketable and easy to use. This is an idea taken from other apps but is applicable in my situation.

3. The planned widespread availability of an app and the services it offers is something that will make it unique. This idea is something that can be recreated but would have to be unique to the service it is offering.

4. With nothing like this app or me around, I believe uniqueness is a key in expanding my business and entrepreneurial endeavor. It is non-replicable and something that I believe a lot of people will use.

5. My determination and motivation are extremely unique and beneficial characteristics that will help my business and myself succeed. I am a unique and rare individual that has the drive to do whatever is necessary to allow my idea to grow and succeed.

6. Being focused and able to stick to one task will allow you to effectively and efficiently develop your service. I never lose focus and am constantly trying to set goals to accomplish.

7. Innovative, something that shows creative expression and a desire to create, expand, and succeed. I view myself as an extremely innovative individual and see it influencing my services in a positive manner.

8. Extrovert is someone that is comfortable in their own skin and able to hold conversations and convey their ideas in a brief and efficient manner. Being extroverted is something that a lot of entrepreneurs possess but it is something that has such a wide range of depth.

9. Going off the extroverted aspect of my character, I am extremely easy to work with. This will allow me to work with a wide range of investors, employees, and advisors as I grow and develop my idea.

10. My experience in marketing and sales means I know what to say and when to say it in order to make my idea as attractive as possible. Experience is very valuable and is generally specific to whatever industry you worked in.

·             Remember, not ALL resources will measure up well. That's OK. You just need one. 

·             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 resource is my extroverted character combined with my background in marketing and sales. Both of these combine to create an individual that displays many of my other unique characteristics. I believe these two aspects create a motivating factor that allows me to efficiently achieve my goals on the path to success.