Tuesday, April 7, 2020

Your Venture's Unfair Advantage

Resource 1: know my market because I fit into it

  • Valuable: highly
  • Rare: sort of 
  • Inimitable: not hard to copy
  • Non-substitutable: not many substitutes
Resource 2: first electric scooter business in Gainesville
  • Valuable: high
  • Rare: high
  • Inimitable: hard to copy
  • Non-substitutable: not many substitutes
Resource 3: Financial Support of my family

  • Valuable: high
  • Rare: no
  • Inimitable: not hard to copy
  • Non-substitutable: no substitutes
Resource 4: A lot of free time outside of academics to help run company
  • Valuable: high (time is money)
  • Rare: no
  • Inimitable: not hard to copy
  • Non-substitutable: no substitutes
Resource 5: Located where my business is
  • Valuable: sort of
  • Rare: no
  • Inimitable: not hard to copy
  • Non-substitutable: there are substitutes
Resource 6: Pursuing a degree in accounting- help run the books of company
  • Valuable: sort of
  • Rare: no
  • Inimitable: no - hire an accountant
  • Non-substitutable: there are substitutes
Resource 7: Dedicated to be successful
  • Valuable: high
  • Rare: no
  • Inimitable: not hard to copy
  • Non-substitutable: not many substitutes to dedication

Resource 8: Exposure to electric scooter companies - know they are successful
  • Valuable: sort of
  • Rare: not really
  • Inimitable: not hard to copy
  • Non-substitutable: substitutes are there

Resource 9: Exposure to competitors already in the market- Uber/Lyft and RTS- know strengths and weaknesses
  • Valuable: highly
  • Rare: not really
  • Inimitable: not hard to copy
  • Non-substitutable: not many substitutes

Resource 10: Passionate about my company
  • Valuable:high
  • Rare: not really
  • Inimitable:sort of
  • Non-substitutable: no substitutes 
Top resource is being the first time of electric scooter company in Gainesville. This is something that is huge as it helps build customer loyalty and puts my company in the front run if any competitors try to join the market.

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2 comments:

  1. Ulysses HincapieApril 8, 2020 at 2:28 PM

    Hi Danielle,
    Being a first mover in your chosen market space is a good opportunity to capture most of the market before competitors do. For a lot of local businesses, it is likely they have a lot of advantages they did not consider initially. I know for me it was surprisingly easy to come up with 10 advantages when I thought it would be harder.

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  2. Zachary Congdon ENT3003April 13, 2020 at 10:30 AM

    Hello Danielle,
    I think being in your target market is a huge advantage for pretty much whatever business you try and start. Since you are in your target market you probably know more about it than someone who just did research on the market. I also think passion is very important to any business because without passion there is no drive to be better and do better.

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