My Venture's Unfair Advantage

1.     Skills

Valuable: In order to succeed, you must have the proper skillset to suit the industry/venture you are entering.

Rare: Not everyone has the skills necessary to succeed, so it is somewhat rare.

Inimitable: It is hard to just have the skills, you must practice what you are working towards.

Non-substitutable: Other people can have the skills necessary, they are just hard to find.

2.     Employees

Valuable: In order for my project to be built, employees are necessary for the hard work to be completed.

Rare: Employees are not rare.

Inimitable: It is not inimitable to have employees.

Non-substitutable: There are other employees that can provide the same services.

3.     Connections

Valuable: In order to get the permission to complete my project, having connections and a social network is vital.

Rare: It is rare to have great connections in the business world.

Inimitable: It is hard to copy having good connections.

Non-substitutable: There is no substitute to having a good business network.

4.     Financial Capital

Valuable: As a way to fund my project, money is a key part.

Rare: It is not rare to have money to fund a business venture.

Inimitable: It is hard not to have finances to fund a business.

Non-substitutable: There is no other way to fund a business besides money.

5.     Equipment

Valuable: In order to build my product, equipment is necessary to construct it.

Rare: It is not rare to have construction equipment.

Inimitable: It is easy to copy construction equipment if you are a construction company.

Non-substitutable: It is, there are other resources you can use.

6.     Customer Loyalty

Valuable: Having a loyal customer base is extremely valuable.

Rare: It is pretty rare to have customer loyalty.

Inimitable: It is not inimitable; but can be built and maintained over time.

Non-substitutable: Having customer loyalty is not substitutable.

7.     Educational

Valuable: It is extremely valuable for a business to have educational capital.

Rare: It is rare for smaller companies to have this.

Inimitable: It is inimitable through time and dedication to the job by employees.

Non-substitutable: It is hard to substitute educational capital.

8.     Intellectual (partnerships/ way of doing things)

Valuable: Having a certain way of doing things is extremely valuable and efficient.

Rare: It is rare for certain businesses to have a high degree of intellectual capital.

Inimitable: It is hard for companies to copy intellectual capital.

Non-substitutable: There are no substitutes for time spent and experiences gathered.

9.     Organizational Culture

Valuable: Having a positive organizational culture is extremely valuable and sets up a productive work environment.

Rare: It is not rare to have a positive organizational culture.

Inimitable: It is easy to copy a certain companies rules and work environment based on the hierarchical structure and office layout.

Non-substitutable: There are not many substitutes for having a great organizational structure.

10.  Fraternity Students

Valuable: These students and some of my friends are extremely valuable to my business.

Rare: It is not rare for other companies to rely on these students for financial income.

Inimitable: These students live close to where my product will be, so it is hard to copy that.

Non-substitutable: There are not many substitutes for this customer segment of mine.

After completing the VRIN analysis, my top resource is business connections. It is extremely vital to my venture because it sets up my business. To further explain, my product can only begin from the business connections I establish. This would be talking to and convincing UF President Fuchs, getting employees and construction workers, and establishing connections with my customer segment. This is by far the most important resource to my business venture.