Assignment 23A: Your Venture's Unfair Advantage

1. Time Management:

• Valuable: This is valuable as it will allow me to focus more on my product and get things done in a more efficient manner.
• Rare: I don't think this is rare at all but it does take a lot of patience and time management skills to open up and run a company.
• Inimitable: It is individualistic in nature and changes from person to person but yes it can be imitated.
• Non-Substitutable: I could probably find someone who has these skills as well and hire them but that would just be extra money spent.

2. Top 10 Public University:

• Valuable: I do think this is valuable as investors will look at me differently from coming from a top 10 public university. Also gives me many great networking opportunities and helps me gain respect.
• Rare: Since it is top ten, there is only a certain percentile of individuals that attend these universities.
• Inimitable: The other competitors in top 10 can easily compete and imitate the qualities but outside competitors cannot.
• Non-Substitutable: Attending a top university is not substitutable.

3. Social Media Presence/Awareness:

• Valuable: Having a interactive/reputable online presence is very valuable to companies as the online world is growing.
• Rare: Most companies have individuals who are smart about connecting through social media
• Inimitable: A lot of people my age would have experience of social media since it is the world we grew up in. 
• Non-Substitutable: I don't think this can be substituted to anything else effectively since it is so huge to have an online presence.

4. Passion for Health:

• Valuable: I think the most important thing behind a product is your attitude so showing you have passion and enthusiasm for it is a must.
• Rare: With all these big businesses, it is hard to find people who do it because they love it and not solely for monetary or social gains
• Inimitable: It is hard to imitate being genuine and excited about something.
• Non-Substitutable: Since this is not my field of degree, then hiring someone who is could bring more passion?? depends on person 

5. Prototypical customer interviews:

• Valuable: Taking this class just brings me one step ahead from all the other hopeful entrepreneurs 
• Rare: I think this experience is rare, a typical class is not formatted like this, even at other schools
• Inimitable: It is hard to imitate these raw interviews and reflect on them as we do in this class
• Non-Substitutable: Could hire people to look at research data from other companies but this is the most raw and genuine way to receive feedback

6. Access to scientists/pharmacists:

• Valuable: Networking is HUGE with trying to create your own business
• Rare: Information is not rare but knowing someone can take you a huge step forward
• Inimitable: Information can be copied but the connection/relationship you have with someone cannot
• Non-Substitutable: Would cost money to get information elsewhere

7. Alumnae from my sorority:

• Valuable: Again making those connections and networking, you never know who knows who and where it can take you
• Rare: A lot of people in college have this connection, or connections through parents 
• Inimitable: No one can replicate my exact sisterhood but it is not a unique thing within greek life.
• Non-Substitutable: Could bu substitutable with a longer and harder route of getting to where you want to be

8. Customer service experience:

• Valuable: Helps me with my communication skills and handling conflict management
• Rare: No, a lot of people have held customer service positions
• Inimitable: Have to be in a stressful situation to really know how to handle it
• Non-Substitutable: Could be substitutable by people who have worked longer in this position or a higher one but would cost money to hire

9. Achiever Attitude:

• Valuable: My drive is very valuable as it brings me the energy to work long hours.
• Rare: I think it is pretty rare to find someone who has the mindset that they have to achieve something everyday no matter how small the achievement.
• Inimitable: This cannot be faked or copied as people just give up or have no drive anymore
• Non-Substitutable: This could definitely be substituted with a different attitude that will allow you to accomplish your goals as well.

10. Knowledge of Dr.Mercola:

• Valuable: My mom being the highest subscription/member of this website is valuable because he shows the latest health trends/products.
• Rare: While he is well-known, not a lot of people are aware of his website and all the things he does.
• Inimitable: Don't think there is another platform like this out there
• Non-Substitutable: Could be substituted by another general health/product website but nothing like the community that is built on his.

• After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

Honestly, after a lot of thought I think my top resource is having a social media presence. It is very important to creating a brand and opening up a business as you have to get the word out and connect with people. These connections will allow the sharing of your content hence spreading the word of your product.