23A – Your Venture’s Unfair Advantage

Capabilities: Excel Certified: I am certified in the workings and functions of Microsoft Office Excel, which will allow me to easy calculate the numbers associated with running a business.

• Valuable: This capability is valuable because it will allow me to easily access the numbers that my company is producing.
• Rare:  This capability is not rare as many people have access to and are certified in Excel.
• Inimitable:  This capability is not inimitable as anybody can become Excel certified.
• Non-substitutable:  There are many programs that have the same ability, as well as other people I could hire to do this task for me.

Social Capital: UF Greek Life: There are many different kinds of people with many different resources that can be useful since I have made connections with them through various Greek Life activities.

• Valuable: Being a part of UF Greek life is very valuable as I have so many friends to utilize as resources and support.
• Rare:  This is somewhat rare as only a small percentage of students are in Greek Life, and the numbers are declining.
• Inimitable:  During their tenure at the University of Florida, anybody has the opportunity to join Greek Life.
• Non-substitutable: Unless somebody else is in Greek Life as well, they do not have the opportunity to make all the connections and have all of the resources that I do. 

Social Capital: Impact Party:  Since I am a Campaign representative for Impact party, I have experience explaining what I am offering, as well as working to persuade people to buy into what I am selling.

• Valuable: This is a valuable skill to have.  When I am talking to constituents, I only have about thirty seconds to a minute to pitch them the platform of the Impact Party, similar to giving an elevator pitch to possible investors.
• Rare:  There are not a lot of students who are campaign representatives for the Impact party, so it is somewhat rare.
• Inimitable:  It is somewhat inimitable as people could get similar experience tabling for other clubs or organizations.
• Non-substitutable: Many people can develop these social skills.

Lack of Competitors:  Since the NFL and other leagues are only officiated by the referees that are hired by the league, there are no other companies offering this service.

• Valuable: This is very valuable because I do not have to fight against competitors for market share.
• Rare:  It is rare to develop a product that does not have any competition.
• Inimitable: Once other companies see that this service is successfully being implemented into other leagues, they may develop a similar service for other sports.
• Non-substitutable: There are currently referees that work for the NFL, but not any that represent the players and coaches.

Support of Current Organizations: Teams and players often suffer from missed calls so they would be very supportive of a service such as this one.

• Valuable: This is very valuable because if I get a lot of support from the players and coaches, there is a very good chance that my service could be implemented.
• Rare: It is not rare to have the support of current organizations.
• Inimitable:  You can not re-create having the support of players and coaches.
• Non-substitutable:  Anybody who comes up with this service to avoid missed/incorrect calls will have the support of players and coaches.

Publicity:  Missed or incorrect calls in NFL games become huge news nationwide.

• Valuable: This is very valuable because the outcry of fans, players, and coaches, will make everybody realize that this service is needed.
• Rare:  Being given publicity for a new product is rare as products usually solve everyday unmet needs, not something of this magnitude.
• Inimitable:  It is unique to have a service get this much attention nationally.
• Non-substitutable:  If another company makes a similar service, they will be granted the same amount of publicity.

Social Capital: Marketing Major:  As a marketing major, I will be able to properly promote and market this service.

• Valuable: This is a valuable skill because many people who start new products fail to get them in the hands of the customer.
• Rare: There are many marketing majors at the University of Florida as well as across the country.
• Inimitable: Being a marketing major is not very unique.
• Non-substitutable:  I could hire somebody else to do the marketing work.

Public Speaking Experience:  I took Public Speaking as well as a Business speaking class here at the University of Florida.

• Valuable:  This skill is very valuable when it comes down to being able to present my idea.
• Rare:  The skill is somewhat rare as many people are good at public speaking, but many are also scared of it.
• Inimitable:  People could be able to develop excellent public speaking skills.
• Non-substitutable:  I could have somebody else present and give presentations for me.

Knowledge of Football: I have been watching football my entire and have played for a few years, so I understand the workings of the game.

• Valuable:  This knowledge is valuable because in order to create a third party refereeing service, I must know the rules and workings of the game.
• Rare:  Many people understand the rules and workings of football.
• Inimitable: Anybody can learn the rules of football.
• Non-substitutable:  Most likely I would hire former referees or people with much more experience in football to help me.

Financial Capital:  I have saved up a lot of money throughout the past 7 years from working several jobs.

• Valuable:  This is very valuable because it it expensive to start a company.
• Rare:  It is somewhat rare for somebody my age to have a lot of money saved up.
• Inimitable: Other people could start saving money as well if they choose to.
• Non-substitutable:  Most likely I will still need to get investors to give me more money in order to fund my business.

I would say that my biggest resource is UF Greek Life.  There are so many people with so many different abilities that if I actually started this company I would have everybody I need.