My Unfair Advantage

List of Resources

1) Proficiency with a smartphone
V: This resource is very valuable considering my idea is a phone app.
R: Not rare in the least
I: Not too hard to copy
N: This is a very non-substitute-able resource, my idea is smartphone-based.

2) Great People Skills
V: Very valuable as I can talk to people to advertise the app and gauge their interest
R: A relatively common resource, however some people are better at this than others.
I: Again relatively common, but sometimes hard to imitate.
N: I could substitute this resource by web-based advertising like emails or flyers

3) Good network
V: This is extremely valuable because the network of people I am in communication with from rec sports can help me immensely.
R: Not common in the least
I: Hard to imitate, a good network takes time to build
N: This is a very essential resource, no real strong substitute.

4) Financial Capital
V: Very valuable to start up the application by paying someone else to do the technical work
R: Not rare
I: Very inimitable as my idea is not that expensive
N: Non-substitute-able, unless I find a friend with the capability to do it for free.

5) Hard Work Ethic
V: Extremely valuable to produce the product efficiently and effectively
R: Can be rare
I: Hard to imitate but many people have good work ethics
N: This is a very non-substitute-able resource

6) Knowledge of Recreational Sports
V: Perhaps the most valuable resource, helps me understand my demographic and how to design my app
R: Can be relatively rare however many people at UF participate in intramural sports
I: This is not too hard to imitate
N: Very non-substitute-able, this is a vital resource

7) Student at UF
V: Very valuable to understand my demographic as well
R: Not really rare in Gainesville
I: Unless you're a student you cannot really imitate this
N: Non-substitute-able to an extent, as only UF students will most likely be using the app

8) General Business Knowledge (learned from class)
V: Quite valuable to understand how to function a business, generally
R: Not quite too rare
I: Relatively easy to imitate and learn
N: Not really substitute-able, a vital resource for a new entrepreneurial venture

9) Research Skills (learned from school)
V: Valuable to search for similar ideas and do research into my demographic
R: Relatively rare
I: Hard to imitate, takes time to learn
N: Somewhat substitute-able

10) Good knowledge of Microsoft Word, Powerpoint, and Excel
V: Very valuable to running a business. I can make presentations and flyers. I can also use Excel to keep track of number of users of the app and finances.
R: Not rare
I: Easy to imitate
N: Other applications like Photoshop could substitute, along with something like quick books to substitute for Excel

My top resource is for sure number 3, my good network. I need to thoroughly understand the demands of my demographic and I can learn this from the people I communicate within intramural sports. I can also determine the viability of the idea from hearing about their past experiences with rec sports on campus.