23A Your Venture's Unfair Advantage

Resource List

1. Connection with someone who could create my technology
1. V: cheaper than hiring an employee if a friend is willing to help me out
2. R: a small percentage of people actually know how to code
3. I: could be imitated with some difficulty
4. N: could be substituted by an employee I don't already know which would probably take more time and cost more.
2. I have the same unmet need
1. V: I know what my customers want because I have the same need
2. R: fairly rare, not a lot of people understand this problem
3. I: not easily imitated because it depends on your genes
4. N: You could market research but that is expensive and takes time
3. My finance knowledge
1. V: Wouldn't have to pay someone to handle the finances if I'm able to do that.
2. R: Not a lot of people understand the reports and laws involved in business finance.
3. I: Can be imitated by learning the difficult material involved
4. N: could pay someone who knows but thats more expensive
4. Leadership experience
1. V: Valuable in dealing with people especially in the start to keep people motivated
2. R: Rare because it's hard to get good leadership positions that handle larger numbers of people especially when you have to compete for election.
3. I: Can be imitated but takes a lot of time to gain that experience
4. N: Again, could just hire someone but that is expensive
5. Casual but efficient culture
1. V: People work better when they're comfortable and happy which it the type of organizational culture I would strive to create
2. R: Becoming less rare in recent years as we've seen in large companies like Google
3. I: Can be imitated elsewhere but wouldn't affect ours
4. N: Don't know how you would substitute this.
6. Advertising knowledge
1. V: Valuable because advertising is moving towards less traditional methods and towards social media which is something we have grow up with and understand well
2. R: Not a particularly rare skill but important in targeting a certain audience
3. I: Can be imitated through education
4. N: Could substitute by hiring an advertising professional
7. My work ethic
1. V: Helps you to get work done efficiently, and gain respect from your peers
2. R: Rare because many do not develop a strong work ethic in their youth
3. I: Cant really imitate this over an extended period of time
4. N: Cannot substitute
8. Natural Intelligence
1. V: Helpful in dealing with day to day problems and making quick in the moment decisions
2. R: Rare because people have varying levels of intelligence and logic
3. I: Not easy to imitate but improvement is something everyone can make
4. N: Cannot Substitute
9. Good Strategist
1. V: Helps you think in terms of the long term goal of the organization
2. R: Some people are better than others naturally
3. I: Can be learned but takes time
4. N: Cannot Substitute
10. Time Management
1. V: Valuable in hitting deadlines and keeping track of progress
2. R: A lot of people cannot manage their time effectively
3. I: Time management skills can be improved but again this takes time
4. N: Could be substituted with more efficient methods that cut down on completion times.

My most valuable resource in my opinion would be the fact that I have the same unmet need as the customers I'm trying to serve. This helps me to understand additional problems I could offer solutions for. Also, this allows me to find additional unmet needs than a competitor who has to search for the problems instead of seeing them on a day to day basis.