23A – Your Venture’s Unfair Advantage

1.Unique product- My product is very unique. No one has designed a kitchen appliance that is programmed to dispense perfect amount of spices.

Valuable: This is valuable to my company because it gives me a strong competitive product. It is my core competency.

Rare: The uniqueness of my product is very rare, since no one has ever design something like it.

Inimitable: Over time others could make versions of my product, but not the exact same thing because I plan on getting a patent for it.

Non-substitutable: There is no other kitchen application like it, so it would be difficult to substitute.

2.Customer service experience- My previous job have given me customer service experience. I have worked at a bookstore, two restaurants, a university, and a healthcare facility.

Valuable: My previous experience has given me great customer service skills, which will be valuable when selling my product to restaurants and individual customers.

Rare: My customer service experience is not rare. Many other people have this skill by working in retail or the restaurant industry.

Inimitable: Other people could copy my customer service experience.

Non-substitutable: My experiences are not substitutional. On the other hand, I could have received them from different opportunities.

3.Contact with entrepreneur- My mom’s cousin is an entrepreneur.

Valuable: This connection will be very valuable when starting and running my company. Bill Wilson will be able to give me great insight on effective marketing and management tactics.

Rare: My contact with an entrepreneur is rare. The experiences and information he would share with me is different than any other mentor I could have.

Inimitable:  It is not hard for others to copy my connection with an entrepreneurs. Many people have mentors they go to for advice.

Non-substitutable: I could receive advice from another mentor. 

4.Marketing experience- My previous classes and jobs have given me marketing experience. I have learned marketing procedures in my marketing and event management classes. Additionally, I have completed marketing project at work such as marketing distributions lists, posting on the company’s Facebook page, updating the departments homepage, and creating flyers for events.

Valuable: My previous marking experience will be valuable when I begin marketing my product to restaurants and individuals customer.

Rare: This is not rare. Many other people have marketing experience. 

Inimitable: Marketing experiences are easy to copy.

Non-substitutable: I could hire someone who has strong marketing experience. 

5.Contact with restaurant industry- I have a connection with David Chudhabuddhi the Assistant General Manager at West Shore Lucky Dill in Tampa.

Valuable: David Chudhabuddhi would be a valuable contact when I begin selling my product to restaurants. He will be able to test the product in his restaurants and give me helpful advise on how to improve it.

Rare: My contact with Mr. Chudhabuddhi is rare. The connections he has are different than anyone else's.

Inimitable: It could be easy for other to also have contact with a restaurant manager.

Non-substitutable: My relationship could be substituted with another restaurant manager. 

6.Contact with experienced cooks- Some of my friends and family are experienced cooks. They will be able to test out my product and give me insightful feedback.

Valuable: This will be valuable when testing out my product. I will be able to have them sample the machine and analyze the strength and weaknesses.

Rare: This is not rare. Other people have connections with their target market.

Inimitable: Other people can copy the connections I have. Many companies have a group of product testers who evaluate their product.

Non-substitutable: This can be substituted with survey and focus groups. 

7.Leadership experience- I have held leadership positions at my work, in class, and my church. 

Valuable: My past experience have given me great leadership skills which will be valuable when running a company.

Rare: This is not rare. Leadership experience is common among manager.

Inimitable: This is easy for other to copy. The experience would be different, but the skills learned would be similar. 

Non-substitutable: This can be substituted by hiring an assist manager. 

8.Contact with restaurant supplier- I have contacted Nathan L from Webstaurant Store who has given me advice on how to start distributing my product.

Valuable: This is valuable to me because, I would be able to ask seek advice on manufacturing my product and selling it on Webstaurant Store.

Rare: The connection I have is rare. The knowledge and experience Nathan could give me would be different than anyone else. 

Inimitable: It is not hard for other to connect with a supplier. 

Non-substitutable: This connection could be substituted with another restaurant supplier. 

9.Product Customization- My product allows customer to customize the machine they purchase. Whether it be the color or additional applications customer are able to pick and chose.

Valuable: This competency is very valuable. Nowadays it is important for company's to provide customizable product. People like to have unique product that are custom built. 

Rare: It is not rare. Other companies allow their product to be customizable. 

Inimitable: It is not hard for others to add features and customizable parts to their product. 

Non-substitutable: There is not other resource that can provide the same benefit. I could add more customizable part for The Spicer.

10. Strong Communicator: I have strong communication skills. Whether it be with my classmates, co-workers, or bosses. I try my best to communicate a clear message. 

Valuable: This will be valuable to my company when communicating with customers, suppliers, distributers, and employees. 

Rare: This skill is not rare. Many other people are strong communicators. 

Inimitable: It can be copied by other through group projects and other experiences that demand communication.

Non-substitutable: No other resource can provide the same benefit as being a strong communicator. This is a skill that can be learned.

Conclusion: The greatest resource I have is the uniqueness of my product. Since a programmed spice dispenser has never been invented my product does not have any competitors. The closest competitor is a spice dispensing carousel which is not programmed to dispense perfect measurements. This core competency will draw customer to my product. Customers will be curious as to how the product works. Most of my resources can be easily copied. This one would be difficult to copy since I plan on getting a patent.