Your Venture's Unfair Advantage

Resources:

1.    My love for public speaking

·     V: Very valuable, it is a skill that is not possessed by many

·     R: Yes, most people would rather die than speak in public.

·     I: Yes, there are other people who are better than me at public speaking.

·     N: No, while valuable, someone else could fill-in for me in public speaking situations.

2.    Knowledge on web design and running my own website

·     V: Yes, can save money by not having to pay someone else to make it for me.

·     R: No, there are plenty of web design programs out there today.

·     I: Yes, it is easier than ever in today’s world to become educated on any topic, web-design is not a unique field of expertise that I possess.

·     N: No, a quick google search can provide thousands of web-design services that are both free or cost money.

3.    Possession of Adobe Creative Cloud Software and knowledge on how to use it

·     V: Yes, I can create my own advertisements, images, logos, etc.

·     R: Yes, It is a skill that needs to practiced and acquired over time.

·     I: Yes, anyone with a computer and the money can purchase the software and educate themselves on it.

·     N: No, plenty of people on this planet are fluent in the Adobe Creative Cloud software and have jobs utilizing it.

4.    My relatability to my customers

·     V: Yes, college kids will be more inclined to believe someone who is exactly like them than an older person who “has no idea what they are talking about.”

·     R: Yes, no other vape company or anti-vaping group has such a relationship with its customers.

·     I: No, the owners of vaping companies and such are all older and not of this generation. 

·     N: Yes, this relatability between me and my customers is not something anyone can buy for any dollar amount. 

5.    My company requires $0 to start

·     V: Very valuable, as a poor college student it allows me to start my business without incurring any debt.

·     R: Yes, most businesses require some sort of initial investment or start-up costs.

·     I: Yes, it is possible for someone to create another business that doesn’t have an start-up costs.

·     N: No, investors could potentially help out other companies, thus eliminating the owners personal start-up costs.

6.    Social media knowledge and fluency

·     V: Yes, every product needs a social media that targets its consumers nowadays.

·     R: No, social media is utilized by basically every company on Earth.

·     I: Yes, anyone can make a social media and research the tactics needed to be successful at it. 

·     N: Yes, no other platforms provide the reach and direct connection to consumers as social media does.

7.    I own all the resources necessary in order to start this business today

·     V: Yes, I have to do no other planning or shopping in order to start my venture.

·     R: Yes, usually companies take some time to plan out and form, but I have already done so.

·     I: No, you can’t imitate hard work without hard work. 

·     N: Yes, it is the same reason as the imitable section. Hard work is hard work, there is no replacement for it.

8.    Society views the product I am trying to get rid of as “bad” and needing a solution to this epidemic

·     V: Yes, this will drive people to want to use my services immediately. 

·     R: No, society is constantly changing and causing certain trends to become hot and cold overnight. 

·     I: No, a single individual can’t force an idea upon society if they don’t want to believe it.

·     N: Yes, it is binary. Either society sees your product as necessary or it does not. In my case, it does.

9.    Only one person is needed to make my business begin

·     V: Yes, I can make sure all the work is done appropriately and on time since it is my responsibility. 

·     R: No, plenty of companies start as a solo endeavor.

·     I: Yes, most entrepreneurs are prepared to begin their ideas as an individual and do so. 

·     N: Yes, again it is binary. Either you are a solo or you are working in a team. Teams can do some things better than individuals and vice-versa. There is no substitute for working on your own. 

10.  Knowledge of the areas where the service could be marketed

·     V: Yes, knowing where the target market is and how they behave is a good starting point for advertisement.

·     R: No, almost all companies do research on their consumers and know where they are spending their money and for what reasons.

·     I: Yes, anyone can do research on the Gainesville area and see where kids who vape are likely to spend their money. 

·     N: Yes, this knowledge requires both personal experiences and research. It is time consuming and can’t be replicated unless you get “boots on the ground” in these areas. 

After reviewing my resources, I believe that my relatability to my consumers is my most valuable asset. For almost all of our lives, we have been told what to do by old people and giving our money to companies run by people we aren’t familiar with. As a college student, my peers will have a connection with me and feel comfortable using my service because of this relationship. No longer will they feel that disconnect between generations when hearing my advertisements or my talks about vaping. They will have a fresh, relatable face to hear from that understands the culture they live in on a day-to-day basis. Most of my resources are replicable and substitutable, but this one is not.