My Unfair Advantage

1.      My unique creation of an all-in-one product – the advice, workout plans, accessories store, and everything else can be found in one place in one mobile application.

a.       How valuable is this resource?

                                                              i.      I think it is valuable because if all aspects are made available to the individual through the mobile application it is much more efficient than having only some features on the mobile application and then others only available on a ‘full-site’ web browser.

b.      How rare is this resource?

                                                              i.      Somewhat rare.  A similar product like the bodyspace app through bodybuilding.com separates their interactive mobile workout application from there accessories and workout supplements store instead of combining them.  They are the closest in similarity to what I am trying to a achieve so it is somewhat rare.

c.       How inimitable (copy by others) is your resource?

                                                              i.      I would say difficult because if the main company on the market doesn’t combine all of these aspects into one app then it must be different, or they are trying to reach a different segment of consumers.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      A mobile application that splits up departments through the different apps is comparable but not substitutable in my opinion. 

2.      Market size of consumers available, specifically the people in need of a mobile workout application that offers workout plans, nutrition advice, and other information to encourage healthy living personalized for each individual. 

a.       How valuable is this resource?

                                                              i.      This is valuable because if there is a large market segment of people who work out and don’t not using a mobile application to assist them with their workouts, then it has potential for a lot of growth.

b.      How rare is this resource?

                                                              i.      Untapped market size as a resource is not rare at all.  If you correctly identify a problem and are able to solve it most likely there is an untapped market that you are solving if you are entering a market with few competitors.

c.       How inimitable (copy by others) is your resource?

                                                              i.      This resource does not have the ability to be copied.  The untapped market of consumers either exists or does not exist.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      I think if a market is large enough, not necessarily untapped, it provides a similar benefit if you are able to create a differentiable product. This creates the market size itself and gives rise to the same benefits with just possibly less growth ability.

3.      Accounting background – because of my degree I am in pursuit of at the University of Florida.

a.       How valuable is this resource?

                                                              i.      Very valuable.  University of Florida has one of the best accounting programs in the best in the country.  Every business involves accounting and therefore is a vital part of building any company.

b.      How rare is this resource?

                                                              i.      I don’t consider this resource completely rare. Yet, only a limited number of people receive their degree in accounting, and even fewer receive one from the University of Florida.

c.       How inimitable (copy by others) is your resource?

                                                              i.      This question for this resource follows the same circumstances as the question above and limited to the people who major and get their degree in accounting.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      There are other degrees but there is nothing substitutable for an accounting degree other than another accounting degree.

4.      Computer Programmer I have available through a friend of mine who has been writing code for over 15 years and has worked on mobile applications in the past.

a.       How valuable is this resource?

                                                              i.      Very valuable resource. It takes the time and money out of the equation that I would have to invest in order to find a computer programmer to start making my mobile application.

b.      How rare is this resource?

                                                              i.      I would not say it is rare at all but finding one for the right price and that you can trust is rarer.

c.       How inimitable (copy by others) is your resource?

                                                              i.      It is inimitable, but through  previous connection, such as mine, I think it is less replicable.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      Absolutely, any computer programmer other than this specific one can.

5.      Current workout experience combined with personal experience.

a.       How valuable is this resource?

                                                              i.      Very valuable, because it has already lead me through many trial and errors.  It gives me personal experience dealing with different equipment and workout plans.  I also have experience having issues looking for workout plans and finding adequate nutrition trips. 

b.      How rare is this resource?

                                                              i.      It is rare.  It is my own experience and knowledge.  I might be susceptible to some biases but at the end of the it is my own thinking and experiences.

c.       How inimitable (copy by others) is your resource?

                                                              i.      Gaining personal experience and going through your own trial and error as well, is not too difficult to replicate over the years. 

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      Already knowing a person who is a personal trainer will give you access to the same general information and the same benefits as personal experience in my opinion. 

6.      Accessibility – through it being a free mobile application available.

a.       How valuable is this resource?

                                                              i.      Slightly valuable, it just allows my application to be accessible to anyone for free. 

b.      How rare is this resource?

                                                              i.      Not rare there are many free mobile applications.

c.       How inimitable (copy by others) is your resource?

                                                              i.      Inimitable, easy to make a mobile application accessible to everyone.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      it substitutable for other forms of advertising and free giveaways because this only relates to accessibility through a phone.

7.      Social Responsibility filled through helping everyone in the country have access to workout and nutrition information for free.

a.       How valuable is this resource?

                                                              i.      This day and age everyone is about being socially responsible for the environment and the surrounding communities.

b.      How rare is this resource?

                                                              i.      Not too rare, but definitely difficult to distinguish one’s company.

c.       How inimitable (copy by others) is your resource?

                                                              i.      It is inimitable, as long as the blueprint or other socially responsible topics are targeted by the company.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      Yes, there are other resources such as outstanding customer service.  I mention this because it is another aspect of a company that can set itself apart from everyone else.

8.      Emotional Intelligence – in connections I have conveyed in the past and how I am able to guide and help people.

a.       How valuable is this resource?

                                                              i.      Very valuable.  To understand your employees and their needs as well as balancing your own needs between work and family are an important tool.

b.      How rare is this resource?

                                                              i.      In my opinion, it is very rare.

c.       How inimitable (copy by others) is your resource?

                                                              i.      If it is learned it can be inimitable but I do not believe it to be easy.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      A huge human resources department can provide the same benefit eventually.

9.      Marketing base through the large number of students that workout at the University of Florida to help jump-start the growth of the company.

a.       How valuable is this resource?

                                                              i.      Valuable to an extent.  It gives me an automatic base of customers to increase the users of my mobile application, which will help generate investors and more money I can put into development.

b.      How rare is this resource?

                                                              i.      There are many college campuses around the USA that can be used to help jumpstart one’s product. 

c.       How inimitable (copy by others) is your resource?

                                                              i.      Somewhat replicable by others if the start-up occurs in a large city or college town.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      Cities and other areas of urbanization with high population density in the USA can provide the same benefits as a college town. 

10.  Entrepreneurial background – since my mom has already opened her own restaurant after being in the insurance industry, he offers first-hand advice how to deal with everything from financials, to employees.

a.       How valuable is this resource?

                                                              i.      Very valuable, because it gives me a resource to use any time I have questions during my future business venture.  I get learn for their own experiences.

b.      How rare is this resource?

                                                              i.      Very rare the personal connection may not always exist.

c.       How inimitable (copy by others) is your resource?

                                                              i.      Not inimitable at all.

d.      Non-substitutable - Are there other resources that can provide the same benefit?

                                                              i.      Not substitutable at all.

I’ve determined that my best resource is my entrepreneurial background.  It is not my personal background, but my mother is an entrepreneur.  Her experiences are like no other and she would be able to be available at the ring of a phone call any time.  No one can copy that or go out and gain the same benefits because my mother’s experience is singular, nonreplicable.  That is why it is my most important resource.