23A – Your Venture’s Unfair Advantage

1.     Silent capabilities

·       This is valuable for my venture since many individuals have an unmet need for quieter microwaves.

·       This knowledge is rare, because not everyone has realized this need.

·       This resource is inimitable, but it will be the first.

·       This idea is poorly substitutable as microwave users would be forced to watch the heating and open the door before time finishes.

2.     Patterns and designs

·       This is valuable for my venture since many individuals, especially younger ones with a new for silent microwaves, want more personalized or accessorized designs.

·       This knowledge is not rare but the amount of colorful microwaves is limited.

·       This resource is inimitable, but our array of options will be especially attractive.

·       This idea is substitutable but we will aim for a partnership in order to have a mass production and be competitive in market.

3.     My creativity and innovation

·       This is valuable for my venture since entrepreneurs need to have skills such as these to succeed

·       This knowledge is somewhat rare, because not everyone can access these skills

·       This resource is somewhat inimitable, but true creativity and innovation is difficult to replicate to a high degree

·       This idea is poorly substitutable as seen by the fact that it has not been invented yet.

4.     Access to investors

·       This is valuable for my venture since financial capital is often necessary to achieve goals.

·       This knowledge is rare, because of the unequal distribution of wealth in America

·       This resource is inimitable, but the combination is rare.

·       This idea is substitutable with other rich people.

5.     A partnership with a strong brand

·       This is valuable for my venture since it keeps us competitive with developments and the market.

·       This knowledge is rare, because less than a dozen brands have control over the microwave market.

·       This resource is inimitable, but limited.

·       This idea is poorly substitutable as microwave companies continuously create the same product.

6.     Interviews with young adults that indicate a demand

·       This is valuable for my venture since it keeps us competitive with developments and the market.

·       This knowledge is rare, because less than a dozen brands have control over the microwave market.

·       This resource is inimitable, but limited.

·       This idea is poorly substitutable as microwave companies continuously create the same product.

7.     I am my own consumer

·       This is valuable for my venture since it means I understand the mind of the consumer.

·       This knowledge is not rare, because many Americans use the microwave.

·       This resource is inimitable.

·       This idea is poorly substitutable because you cannot always be a consumer.

8.     My communication skills

·       This is valuable for my venture since it allows me to make connections and talk to other consumers.

·       This knowledge is somewhat rare.

·       This resource is inimitable, in some ways but not completely.

·       This idea is poorly substitutable.

9.     I have my UF teachers to guide me

·       This is valuable for my venture since the knowledgeable professors at UF can guide me.

·       This knowledge is rare, because not everyone has so many people to guide them.

·       This resource is non-inimitable.

·       This idea is poorly substitutable as their experience is not comparable.

10.     My drive to succeed

·       This is valuable for my venture since it keeps us competitive as I push to excel.

·       This knowledge is not rare but certainly necessary.

·       This resource is inimitable.

·       This idea is somewhat substitutable as some people push themselves further.

While there are a lot of good qualities that will help with my endeavors, my first, the innovation of a microwave with silent features is my most important which fits into VRIN the most. This resource is one that has not been done before and with a variety of colors and styles, other manufactures won’t be able to compete with our features and variety.