23 - Unfair Advantage

Resources in my venture:

1. My knowledge of the industry
V- This is very valuable in creating a good product
R- I don't think this is that rare
I- Anyone who wanted could imitate
N- Other resources could not provide the same benefits as this

2. Physical space to start the venture
V- Valuable, but not extremely necessary as this is an app
R- Not rare at all
I- Could be copied by anyone
N- Can't really be substituted for anything

3. Finances
V- Valuable and necessary for the venture
R- Not rare
I- Could be imitated by anyone
N- Could possibly be substituted for services or stock but money would still be necessary

4. Support system
V- Helps in staying motivated and on track
R- Most people have a support system
I- Could be copied
N- I don't think this can be substituted

5. Equipment; a computer
V- This is necessary for the venture
R- Not rare at all
I- Yes, it is imitable
N- Can't really be substituted

6. Social network
V- It is important to have a good social network
R- Not rare
I- Could be imitated
N- Non-substitutable

7. My experience
V- Not that valuable for the venture
R- My unique life experiences are unique
I- Can't be imitated by anyone else
N- Can't be substituted

8. The venture concept
V- Very valuable
R- It is rare as an app like this doesn't exist
I- Could be imitated
N- Can't really be substituted

9. Education
V- Valuable in knowing what to do to make this happen
R- Not rare
I- Could be imitated by anyone
N- Could be substituted by outsourcing what I do not know how to do

10. Accessible markets
V- This is valuable and necessary to create the product
R- This is not rare
I- Anyone could access the markets
N- Can't be substituted because then there is no customer

My top resource has to be the venture concept itself, followed by my knowledge of the industry and the customer base I am trying to target.