23: Your Venture's Unfair Advantage

1. Lack of competition
Valuable: Few competitors to deal with creates less stress and a higher opportunity to have my product succeed.
Rare: No one else is trying to solve this problem.
Inimitable: Though my product stands out from current options, it could be replicated if a business beats me to the larger universities.
Non-Substitute: Universities could just make their own version of what I'm trying to create, but that would cost them more time and money to create a competitive product to mine.

2. Web design and coding background
Valuable: Since my product is an app, its important for me to know how to code and create a pleasing and easy to use product.
Rare: Not so rare, people could take a quick class or watch YouTube videos to learn coding and good design.
Inimitable: Could easily be copied by technique, but not style and organization.
Non-Substitute: Could be done by others, but would rather I do it myself then to pay someone.

3. Entrepreneurship background
Valuable: Having more experience making products and creating business plans lets me move faster in my process to create and market my product than others just starting out.
Rare: People create all the time, it's not at all rare, its only rare if it succeeds.
Inimitable: Many people, especially fellow IA students, have the same previous experiences as me, but not the same ideas.
Non-Substitute: Anyone can be an entrepreneur, but few go through with their ideas and spend the amount of time and money it takes to create the product.

4. Current Student
Valuable: I am a customer for my product, I need a way to stay organized as easily and hassle free as possible. It also gives me a foot in the door to pitch this product to UF.
Rare: Not rare at all, there are currently 19.9 million college students in the U.S. and every college student needs to stay on top of their schedule and due dates to do their best.
Inimitable: Anyone can become a college student or need this product.
Non-substitute: I am in a great position to be in a larger university with resources and a lot of students who could benefit from my product then if I were to be in a smaller and lower rank university.

5. Connections to Clubs and Organizations
Valuable: If I want people to use my product, I'll need to pitch and market my app to others and have them use it and refer friends. This is especially helpful with larger clubs and organizations.
Rare: Not rare, all you need is a friend and a friendly personality to get to know a person or club.
Inimitable: Connections between people are different and cannot easily be replicated.
Non-Substitute: Others can connect with similar groups or clubs I am, but I would have already beaten them to the chase and would have a longer more trusting connection with them.

6. Drive to Make a Difference
Valuable: This is extremely valuable in order to keep your spirits up and to continue to keep making the product, as your handwork could make a difference in someone else's life.
Rare: An uncommon characteristic
Inimitable: It's hard to replicate someone else's drive or to change your own. It also depends on the situation, which I don't know a lot of people who are extremely passionate about student planners.
Non-Substitute: You don't need a drive to help others to make a product, but your level of effort shows in your work and could connect better with your market or buyers.

7. Low cost
Valuable: Many people put tens of thousands of dollars into their product, but a self made app just takes a single person and a lot of hours learning and creating.
Rare: It is kind of rare to have a low cost startup, as many people think it takes a village and a million dollars to make it.
Inimitable: People make low cost apps all the time, as you can learn to make an app for free online. The only thing that can set me apart is my design and use for the app.
Non-Substitute: Other companies like Google or Microsoft could come and make one themselves at a cost that low to them, but way too high for me, driving me out.

8. Benefits to the University
Valuable: My app will help students become more organized and active, causing the college or university's participation and grades to increase which would help with their overall rank.
Rare: Opportunities to improve are readily available
Inimitable: My product helps in a particular way; organizing to improve whereas others use tactics to help improve test scores and sports performance.
Non-Substitute: I don't know how many other types of tools are targeting students organization and planning, but seeing there isn't really a product like this already, I'm assuming not many.

9. Small Business, Small Team
Valuable: Having a small team and small business allows a more mom and pop feel and would work well with our connections to the colleges, as your not left on hold or worse, stuck listening to an automated voice when the system goes awry.
Rare: Most businesses in the U.S. are small businesses, so no.
Inimitable: As my main two competitors are some of the largest companies today, I don't think this can be replicated.
Non-Substitute: Nothing can beat a personal feel when your doing business, you want to feel a connection with someone when making a business deal and to know their in good hands.

10. Change from Paper to Electronic 
Valuable: As we are currently moving into a paperless world, it's an advantage for my product as more people would be wanting to go from paper planners to online versions.
Rare: Not rare, but a giant movement to help improve our environment.
Inimitable: As it is a movement, more businesses are going to convert their products into online versions.
Non-Substitute: Everything is going to be digitized in the next ten years, so sooner or later there will be more products on the online market.
Note*: I think this one's a stretch but this list was super hard to make!


I think my best resource is the fact that there is a lack of competition. This is extremely valuable as this causes me less stress and allows me to show just how unique my product is when I am pitching my idea to colleges. As I rely on colleges and universities to buy my product, it's important for me to distinguish my product and show how it would be more effective then lets say Outlook, especially when moneys on the line.