Assignment 23 - Your Venture's Unfair Advantage

1. Public Speaking experience 
V: This resource is valuable because it will allow me to communicate my idea effectively to potential customers.
R: This resource is not rare because many people are able to succeed when it comes to talking to a large audience.
I: This resource is not very inimitable because other people can copy methods from each other on how to effectively speak publicly.
N: I would say this resource is non-substitutable because at one point every individual is going to have to communicate their idea live in front of an audience.

2. Personal relationships with experts in the market
V: This resource is valuable because it will allow me to spread my general idea to a large amount of individuals who have respect in the field and could further spread my idea.
R: This resource is rare because not many people have these close relationships with respected individuals in various fields.
I: This resource is pretty inimitable because it is difficult and time consuming to build these types of relationships.
N: This resource is substitutable, although without it the idea would be a lot harder to implement.

3. Publicity in our culture
V: This resource is valuable because it will allow me to attract a large amount of customers.
R: This resource is not rare because a lot of popular culture is related to this field and others as well.
I: This resource is not inimitable because other cultures can copy ours as well. Other fields can copy it additionally.
N: This resource is substitutable, although without it the idea would be a lot harder to implement.

4. Social Capital from UF Greek Life
V: This resource is valuable because it will allow me to connect to a large amount of people in one large community.
R: This resource is relatively rare because only a small percentage of the student body has this resource.
I: This resource is not very inimitable because other clubs and organizations may be able to have this connection.
N: This resource is substitutable, although without it the idea would be a lot harder to implement.

5. Social Capital from contact with potential customers
V: This resource is valuable because it will allow me to talk to potential customers in my daily activities.
R: This resource is rare because not a lot of ideas enables the entrepreneur to have daily contact with potential customers.
I: This resource is inimitable because it is difficult to create other ideas that allow you to have this connection.
N: This resource is substitutable, although without it the idea would be a lot harder to implement.

6. Fundraising experience 
V: This resource is valuable because it will allow me to be able to effectively market and sell my idea.
R: This resource is relatively rare because not a lot of people have the experience of fundraising a large amount.
I: This resource is inimitable because the experience of it is unique and only seen from selling items.
N: This resource is substitutable, but having the resource gives the individual an advantage.

7. Lack of multiple competitors 
V: This resource is valuable because it will allow me to have a big share of the market.
R: This resource is rare, because in most markets there are multiple competitors.
I: This resource is inimitable because not many markets have this quality.
N: This resource is substitutable, but having the resource gives the individual an advantage.

8. Personal experience with aspects of the business idea
V: This resource is valuable because it allows me to have insight on the business idea.
R: This resource is not rare because most entrepreneurs are experienced with their idea before they sell it.
I: This resource is not inimitable because similar to how I have experience with my idea, others can have experience as well with it and other ideas.
N: This resource is non-substitutable because it is necessary to have this personal experience with the business idea.

9. Large amount of time able to be dedicated to the idea
V: This resource is valuable because it will allow me to be able to focus large amounts of time on creating this best business idea.
R: This resource is rare because not many people can dedicate a lot of time to the idea. Most people work long hours.
I: This resource is inimitable because not many people have this characteristic.
N: This resource is substitutable, but having the resource gives the individual an advantage that is unique.

10. Personal relationships across the country
V: This resource is valuable because it will allow me to spread my business idea to a larger scale that markets the entire country.
R: This resource is rare because not many people can start their ideas off on a national scale.
I: This resource is pretty inimitable because it is difficult to have the connections across the country.
N: This resource is substitutable, but having the resource gives the individual an advantage that not many others have.

After completing my VRIN analysis, I found it to still be very challenging to pick a resource that fits well in all of the areas. After selecting one, I think it would be the resource of having large amount of time able to be dedicated to the idea. I think it is very rare and valuable, and would allow me to create the most polished idea that is very customer friendly. I would say that it is a capability that I possess, and it could possibly create even more social capital and ideas/opportunities.