23A – Your Venture’s Unfair Advantage

Fundraising Abilities: increase capital, in the larger scope of things it will involve maybe dealing with loans, but fundraising helps understand logistics of amount of money needed.

• Valuable: I need money for my project. It is large scale, and requires money to get money.
• Rare: Not super rare, a lot of people have fundraised in their lives.
• Inimitable: many people have done, but it takes a lot of will and energy to fundraise a lot.
• Non-Substitutable: could substitute somewhat with loans

Technological Connections: keep innovation up, so I create an always growing product

• Valuable: super, don’t want to lag
• Rare: not super rare, but my team would be loyal to me
• Inimitable: sure, but still a loyal team is crucial for these connections to reap benefits.
• Non-Substitutable: I can’t think of something that would substitute the knowledge of technology (that I don’t have)

Environmental Awareness + Connections: will provide new knowledge on the area

• Valuable: it is the area I am going to. I need these connections to stay updated
• Rare: in the area I am going to, it shouldn’t be rare people have these connections
• Inimitable: knowledge shouldn’t be imitable, it varies a lot.
• Non-Substitutable: could google knowledge, but in my opinion doesn’t substitute.

Organizational Culture: create a healthy competitive and collaborative environment

• Valuable: will help expand creativity 
• Rare: many companies can create a good company culture
• Inimitable: I want to maintain a medium sized business, because it’s what I view as the perfect combination of differentiation within and still high level of control
• Non-Substitutable: shouldn’t substitute, would create a weak foundation for the firm

High need/want for product: people are becoming increasingly interested in sustainability and environmental impacts

• Valuable: extremely, I need this to have a product to put to market
• Rare: yes, a lot of companies think they have a good idea, but once it reaches the market it fails
• Inimitable: could be but I want to have a strong team of experts that will always keep my product one step ahead
• Non-Substitutable: yes, people either need/want it or not

Personal Relationships: my network will give me knowledge, and an opening into the market

• Valuable: yes, will give me greater opportunities.
• Rare: somewhat, some people are hyper focused on their product, and cannot succeed as well in personal relationships
• Inimitable: no, your network is extremely unique
• Non-Substitutable: shouldn’t be, AI might try, but opening into the market is important. 

Financial Understanding: as a finance major, I am hyper focused on costs, revenues, how to manage my money

• Valuable: yes, bankruptcy is scary
• Rare: somewhat, some people are good at creativity, others at creating the technical product
• Inimitable: yes, financial advisers
• Non-Substitutable: could use electronics and financial advisers, but that costs more

Business Writing/Education on Entrepreneurship: I learned how to communicate my ideas eloquently and precisely. 

• Valuable: yes, communication is how you get people on board with you
• Rare: somewhat, some people are natural communicators, otherwise you have to learn it like me.
• Inimitable: no, this is a personal trait
• Non-Substitutable: not substitutable because your ideas are yours, and how you formulate/connect them is unique

Passion on Sustainability: allows me to work hard to achieve my goal

• Valuable: yes, I will not be lazy because I care for my idea
• Rare: yes, some people go into a business to make a profit, having passion is how you can keep your company growing (and not fail down the line)
• Inimitable: no, personal trait
• Non-Substitutable: shouldn’t be, if you care for your product, others will fall into your line

Publicity: people are increasingly becoming educated about environmental impacts 

• Valuable: yes, creates a greater need for my product
• Rare: yes, some areas of business aren’t as well known, so have less need 
• Inimitable: somewhat, but publicity from others is very important to create rapport
• Non-Substitutable: can create blogs, vlogs, etc. which are all forms of personal publicity 

Top Resource

I think my top resource is the team of experts I will have, because it’s the way I differentiate from other companies. Publicity and hopefully passion is something apparent in the other companies similar to mine. But my team and organizational culture will promote innovation.