Your Venture's Unfair Advantage

1.       Fundraising Experience: I have worked on fundraising project as a member of fraternity and a member of UF Club baseball.

·         Valuable: this is extremely valuable for the future of each organizations.

·         Rare: this is not rare anybody can do it.

·         Inimitable: this experience able to be imitated, but not 100%.

·         Non-substitutable: I could always hire someone to do it for me, but that would cost me money instead of time.

2.       Uniqueness of the Venture/Lack of Competitors: because there is currently a product that similar but not same so less competitive.

·         Valuable: this is very valuable.

·         Rare: It is kind of rare but similar stuff exist.

·         Inimitable: While my product is new, someone could come and copy this in the future.

·         Non-substitutable: I could definitely try to come up with some other idea that was also unique and it could have the same benefits.

3.       Social Capital: driving experience as Uber.

·         Valuable: Their experiences and words of advice is invaluable and could definitely push the venture forward into public eye.

·         Rare: It is somewhat rare. It is not easy to find a driver in your friends.

·         Inimitable: This can be imitated.

·         Non-substitutable: This can be substituted with other driving experience like taxi driver..

4.       Public Speaking Experience: I won 10^th in the State for public speaking when I was in Japan and so I am comfortable to talk in front of people.

·         Valuable: I think this is valuable because I can use these skills to speak with investors and potential customers.

·         Rare: This is not rare; I could hire a spokesperson.

·         Inimitable: This could be imitated, but not with the passion and drive that I have.

·         Non-substitutable: Nothing substitutes the power of communication.

5.       Personal relationships with fellow entrepreneurs: My father’s friend is an entrepreneur and is always encouraging me to think 4P if I want to start a business.

·         Valuable: having both the voice of experience and motivation from the inside of your closest circle is invaluable.

·         Rare: I could talk to other entrepreneurs, but none of them know me like my dad does.

·         Inimitable: This relationship cannot be imitated, nor the amount of care.

·         Non-substitutable: This could be substituted by another entrepreneurial mentor, perhaps even one who has experience in this field.

6.       Support of Current Organizations: There are many organizations that doing similar things. Definitely we can partner up with Uber eats or Bites Squad or any other food delivery services.

·         Valuable: This is valuable because I can get the support of many organizations who are already know about this industry.

·         Rare: There are lots of organizations that doing similar services, so it is not rare.

·         Inimitable: It is not inimitable because Blue Apron does same stuff but they are just not for college students.

·         Non-substitutable: I could not get the same about of support from any other group of people than from well-known organizations who are willing to help.

7.       Publicity: People know they need to eat healthy and we have been taught very well about nutrition since primary school. Once we started advertising, definitely there is a huge demand for this service. Advertising through social media will be a lot of help.

·         Valuable: Social media is definitely valuable. The more people hear about the product, the better.

·         Rare: It is rare that a new product gets a lot of publicity but I know there is demand.

·         Inimitable: It is inimitable because this service is very rare..

·         Non-substitutable: Probably TV but social media is most effective for college students.

8.       Social Capital: UF Greek Life: Because I am a student of UF, and a member of fraternity so I can contact to other fraternity and sorority.

·         Valuable: This is valuable because the relationships I have with fellow students can help push me forward, especially if those students are the heads of their fraternity/sorority chapter.

·         Rare: This is not rare because virtually any UF student could accomplish the same thing.

·         Inimitable: This is not hard to copy – it is just a matter of being willing to connect with new people.

·         Non-substitutable: Having the connections with fraternities/sororities and their leaders cannot be substituted, since they are the ones who I would try to market to first.

9.       Social Capital: worker at off campus apartments: I am very close friends with several guys who are working for off-campus apartments.

·         Valuable: This is very valuable because they can contact or put advertisement to all the students who is living in the complex.

·         Rare: This is not rare.

·         Inimitable: This could be imitated by anyone with access to these people.

·         Non-substitutable: I could not substitute their knowledge with any other knowledge.

10.   Social Capital: Preview stuff: one of my friends is one of preview stuffs and he meet many incoming freshmen Tuesday and Thursday every week.

·         Valuable: I do believe this is valuable. It will be good advertisement for sure.

·         Rare: It is quite rare for someone doing this job because there is only 30ish preview stuffs.

·         Inimitable: This cannot be copied by other competitors unless they have same friends.

·         Non-substitutable: This is substitutable if you could find somebody who have a chance to meet a lot of freshmen like preview stuffs.

After my VRIN analysis, my top resource was social capital. I think it is because connection between people is very important to start a successful business.