23 A

Your Venture’s Unfair Advantage



Public Speaking:

· Valuable: Extremely valuable as it allows me to sell my products to large audiences.

· Rare: This is not unusual as many people can speak publicly.

· Inimitable: This is not a unique skill but one that can be perfected through practice and preparation.

· Non-substitutable: Not substitutable.



Only one competitor:

· Valuable: Very valuable.

· Rare: Somewhat rare, the idea is there, but in a lesser product.

· Inimitable: Right now it is, but it can be replicated.

· Non-substitutable: Not substitutable.



Willing to learn new things:

· Valuable: Very valuable, allows me to learn and gain experience.

· Rare: Not that unusual as people like me enjoy learning new things.

· Inimitable: Yes, with effort.

· Non-substitutable: Not substitutable.



Hard Working:

· Valuable: I have strong work ethic.

· Rare: This is not rare, many entrepreneurs have this.

· Inimitable: Yes, with effort and good work ethic.

· Non-substitutable: Not substitutable.



Personal Relationships:

· Valuable: very valuable, I am able to create positive business relationships with customers.

· Rare: A little, some personalities prefer to work alone.

· Inimitable: Not inimitable, personal relationships can’t be imitated.

· Non-substitutable: Not substitutable



Utility Patent:

· Valuable: This is very valuable to allow a person or business to protect their invention.

· Rare: Not rare.

· Inimitable: Very inimitable.

· Non-substitutable: Not easily substituted.



Financial Capital:

· Valuable: This is important as it takes money to make money.

· Rare: There are plenty of potential investors available to funds business ventures for a piece of the invention.

· Inimitable: inimitable.

· Non-substitutable: Subsumable because there are other was to get funding.



UF Student:

· Valuable: Networking opportunities

· Rare: Not rare because all UF students can use this resource

· Inimitable: This is not hard to copy

· Non-substitutable: Having the connections with UF students



Using social media as a marketing tool:

· Valuable: valuable, most people utilize some form of social media.

· Rare: not rare, easy to learn.

· Inimitable: not inimitable.

· Non-substitutable: not substitutable



Computer Literate:

· Valuable: very valuable, can be used for many different areas in the business.

· Rare: not rare.

· Inimitable: very inimitable.

· Non-substitutable: substitutable, many companies use these programs.





After completing the VRIN analysis, I concluded that my best resource is my public speaking. From my part business experience, I also am fairly well versed in using social media for business.