23A - Your Venture's Unfair Advantage

What makes ME so special?

1. Uniqueness of Venture
a) Valuable: very valuable, important for the lack of competition
b) Rare: very rare, typically most ventures have tons of competition
c) Inimitable: fairly simple of you happen to have the same idea
d) Non-substitutable: no, the uniqueness of this venture is the reason for the benefits

2. Public Speaking
a) Valuable: very valuable, important to be able to communicate ideas
b) Rare: not rare, many can have this ability
c) Inimitable: very, many entrepreneurs tend to have this trait
d) Non-substitutable: yes, other resources can express these outcomes

3. Personal Experience
a) Valuable: very valuable when working with the product that you are familiar with, as well as the consumer base
b) Rare: not rare, there are many people part of the same experience I am
c) Inimitable: very, many people are experienced in this field
d) Non-substitutable: yes other resources can express these outcomes

4. Unmet Market
a) Valuable: Valuable because it is not a need that is met yet.
b) Rare: Rare because other sports equipment is unlike mine
c) Inimitable: Yes, if one has a similar idea then they could recreate my products
d) Non-Substitutable: Yes because it is specific to the focused market

5. Determination
a) Valuable: Yes because if you are not determined in your goals you will never accomplish them
b) Rare: No, anyone can become determined on their own personal goal, it is also something someone can work on.
c) Inimitable: Yes, almost anyone can be determined if they put their mind to it
d) Non-substitutable: Yes, no other character trait can provide you the same benefits in life and business

6. Sustainable Business Venture
a) Valuable: Yes, if a business is not sustainable then it can never be successful.
b) Rare: No, every successful business must also be sustainable
c) Inimitable: The fact of having a sustainable business venture is not inimitable, you either are sustainable or you are not
d) Non-substitutable: Yes, no other resource can provide one with the same benefits.

7. Meaningful Business Venture
a) Valuable: Yes, a wide variety of people care about the safety of sports players
b) Rare: Yes, other sports companies are not as focused on reducing concussions among sports players
c) Inimitable: Yes, other sports equipment companies can also begin to focus on reducing concussions among players
d) Non- Substitutable: Yes, because having a meaningful business venture is what sets my company apart from others.

8. Products
a) Valuable: Yes, because the sports equipment are what drives the business
b) Rare: Yes, because our products are unique in that they are concussion preventive
c) Inimitable: No, because one goal of the business is to acquire patents for the concussion preventative technology so no other companies can intimidate our product.
d) Non-substitutable: Yes, no other resource can drive the business like the products

9. Funding
a) Valuable: Yes, without funding a business cannot operate
b) Rare: Variable, depending on your background or credit score it can vary how much funding one can get.
c) Inimitable: Yes, almost anyone is able to acquire some sort of funding.
d) Non-Substitutable: Yes, funding is the only resource that can kick start any business

10. Communication Skills
a) Valuable: Yes, extremely valuable when talking with customers, employees, or other business partners.
b) Rare: No, many people possess communication skills and anyone can work to improve their own
c) Inimitable: Yes, many people can use their communication skills
d) Non-Substitutable: Yes, no other resource provides the same benefits as good communication

Top Resource & Why: The top resource is uniqueness of business venture because it creates a lack in competition which will help grow my business. The uniqueness of my business also meets unmet needs which is extremely beneficial.