Your Venture’s Unfair Advantage

Generate a list of all of the resources in your venture and VRIO analysis:

1.     Clearly defined idea:

·      Valuable: Because it helps be more effective

·      Rare: It has not been developed yet

·      Inimitable: Moderately, because others can imitate it

·      Non-substitutable: There are some other good ideas

2.     Contacts that know about coding

·      Valuable: Very valuable because is fundamental

·      Rare: Not very rare

·      Inimitable: Requires networking to achieve

·      Non-substitutable: It is not substitutable

3.     Good credit

·      Valuable: Important in order to get loans and funding

·      Rare: Moderately rare; not everyone has it

·      Inimitable: It can be achieved with some measures

·      Non-substitutable: Hard to substitute with other resources

4.     Contacts that know about marketing

·      Valuable: Very, because they can help my business grow

·      Rare: Not very rare

·      Inimitable: It requires networking to achieve

·      Non-substitutable: The other option would be to know about marketing oneself

5.     Research in the field

·      Valuable: It is absolutely necessary

·      Rare: Moderately rare

·      Inimitable: Other people can do it

·      Non-substitutable: There is no substitution

6.     Contacts with knowledge in the VIP parking field

·      Valuable: Not very valuable

·      Rare: Perhaps it may be rare

·      Inimitable: Easy to imitate

·      Non-substitutable: Research in the field can be a substitute

7.     Patience

·      Valuable: In my opinion it is

·      Rare: Moderately rare

·      Inimitable: Not easy to imitate; depends on the person

·      Non-substitutable: There is no substitute for patience

8.     Savings

·      Valuable: Very valuable

·      Rare: Not very rare

·      Inimitable: Other people can get it or have it already

·      Non-substitutable: It can be substituted with loans, or investors

9.     Idea that has not been exploited yet

·      Valuable: Extremely valuable because it makes it profitable

·      Rare: Considerably rare

·      Inimitable: Other people can certainly imitate it

·      Non-substitutable: There is no direct substitution

10.  Energy and motivation

·      Valuable: Very valuable to have

·      Rare: Depends a lot on the person

·      Inimitable: There is other people that have it

·      Non-substitutable: You cannot substitute them

Top Resource:

Idea that has not been exploited yet: because it means that I can have the advantage of coming first, and perhaps it may turn my idea into one that is profitable.