Your Venture's Unfair Advantage

23A- YOUR VENTURE'S UNFAIR ADVANTAGE

1)    Social Capital: Contact with Reliable Sources: I know many people who have a great amount of knowledge about agriculture.

·      Valuable: I would need to get my information from somewhere and it better getting it from people who know what they are talking about.

·      Rare: This is not rare because anyone use access to it if they look for it

·      Inimitable: It is inimitable because it's so readily available 

·      Non-substitutable: It can not be authentically be substituted

2)    Teaching Experience: I have experience in teaching classes with other small educational programs

·      Valuable: It's valuable because I have experience to base my product on.

·      Rare: It's not rare because I could easily learn this over the internet

·      Inimitable: It is inimitable but it won't be the same

      ·      Non-substitutable: I can substitute it with other teaching opportunities

3)    Social Capital: Contact with Experienced Teachers:  I have connection with many teachers who can give me insight and possibly teach classes too.

·      Valuable: It is valuable because knowing teachers who are used to teaching students can helpful with advice on how to go about the product.

·      Rare: It experiences and skills are rare in every teachers' case

·      Inimitable: Yes but no teaching style is the same

·      Non-substitutable: Having connections with experienced teachers that are willing to help me is not easily substituted

4)    Backing from Supporters: I can get backing from people who support the idea

·      Valuable: Money from people who support the product can help start it up

·      Rare: It's not rare to crowd source for money

·      Inimitable: There are many resources that help with that

·      Non-substitutable: I would have use out of pocket money and I don't have that

5)    Publicity: Social media can advertise to product easily

·      Valuable: The use of social media use increased over the years and that can help with getting noticed by people.

·      Rare: It is not rare, a lot of companies use social media to advertise

·      Inimitable: It is imitable, but there aren't many products like mine

·      Non-substitutable: It is substitutable with traditional advertising but social media is faster

6)    Public Speaking Experience: I have taken classes to improve my public speaking

·      Valuable: I could use to better my teaching skills

·      Rare: It's not rare because anyone can do it

·      Inimitable: It can be done by almost anybody

·      Non-substitutable: I can hire someone else to do it

7)    Social Capital: Contact with Farmers: I have connections with farmers who worked for their entire lives

·      Valuable: They could give valuable information that I can use in my product

·      Rare: It is not rare because it is easy to ask a farmer about what they do for a living

·      Inimitable: It is not imitable to the same extent as someone else's career

·      Non-substitutable: It can be substituted but the effect won't be the same

8)    Social Capital: UF Animal Teaching Units: In the teaching units are experienced experts working there

·      Valuable: I could get a lot of valuable information from the experts

·      Rare: Where I am, it is not rare because the school is one of many that have experts

·      Inimitable: The knowledge and experiences are not imitable

·      Non-substitutable: I could substitute this with books but it wouldn't have the same effect

9)    Modern Adaption: It will be a company created in the modern day

·      Valuable: Since it's something new people will take notice of it easily

·      Rare: In the modern day everything could be seen as rare and new

·      Inimitable: Everything is adapted to the modern age, it is imitable

·      Non-substitutable: It can be substituted because it is easy to take notice of something new

10)  Uniqueness of the Venture: There is a difference from my product then other product out there

·      Valuable: Standing out is important if you want people to notice you

·      Rare: There is no other product like this that I know of

·      Inimitable: Anyone can imitate if they wanted to

·      Non-substitutable: It wouldn't be the same if I tried to substitute it with something else

After doing the VRIN for this entire list, I conclude that the resource that allows me contact with reliable sources. I knew it was the most important because it was the first one I thought of as a resources. I think it would give me an competitive edge even if there is no competition in this type of market.