23A - Your Venture's Unfair Advantage

Top 10 Resources

1.) Personal experience with the issue I'm solving. I'm a vegetarian myself! So I'll have an extra eye for problems that my app should solve, and I know how it feels firsthand to feel betrayed by marshmallows. 

2.) A market that is growing each year (vegetarians and vegans are basically the future), whether because of awareness of animal cruelty, health effects, or environmental impact- all three of which exponentially increase the number of vegetarians and vegans in recent decades. (For more info on the rise of vegetarianism and veganism in recent years: https://www.riseofthevegan.com/blog/veganism-has-increased-500-since-2014-in-the-us)

3.) An artistic eye and an aesthetic vision for the app.

4.) Leadership skills that would help me be a great founder/CEO for this project.

5.) A background in sustainability paired with the drive to make this app have global environmental impact.

6.) My unique network of family, UF faculty, and peers in majors like sustainability and computer programming.

7.) Public speaking and writing skills that would help me pitch this idea to potential investors or possibly even employees.

8.) Being in Innovation Academy, where I'm given the platform to present business ideas to real business-people and have actual investment opportunities (like Catalyst).

9.) My desire to research things I'm deeply passionate about, and find every last fact that I can on a specific issue and exploit that information for my own use.

10.) The combination of my approachability and inquisitiveness, which would allow me to optimize case studies on my app and find out what my target audience wants more of and less of in my app.

Part 2: VRIN

1.) V- This resource is valuable because I will be able to identify problems that my target audience face in ways that other people couldn't. For example, another student launching a start-up aimed at helping veterans in some way probably wouldn't have firsthand experience with the issues veterans face, and would have to rely entirely on interviews for more information. R- This resource is rare because most people in start-ups right now try to solve an issue that doesn't directly affect themselves, which removes them from their target audience and the very problem they're trying to solve. I- This resource could be copied in other startups run by vegetarians/vegans, but for now the main focus seems to be on health and calorie counting rather than a specific diet (in terms of food apps). N- There aren't really any other resources that could easily and quickly give non-vegetarians and non-vegans the same insight. Sure, researching on the internet helps, but there are certain quirks and issues that come up that have to be experienced firsthand to be understood and solved in an efficient and meaningful way.

2.) V- This resource is valuable because the amount of consumers I can reach is only going to increase if current trends continue (and with environmental sustainability becoming a quickly-growing concern, the market for veg is only going to boom from here on out). R- This resource is rare because most trends can be guaranteed to have an expiration date. Veg diets are predicted to eventually become necessary by some scientists in order for our resources to be consume in a way that doesn't deplete them for future generations. I- This resource could be copied if a product is developed for another environmental issue that's relevant to sustainability, but outside of that sphere of opportunity I can't really think of any other major business sectors that could have guaranteed growth like this. Maybe technology, but that's the only area I can think of. N- There are no other resources that could have the same impact as a guaranteed future growth in my market. Having a guarantee that a consistent market would have a projected future increase in income and also spending habits might have a similar effect, but wouldn't be the same as expanding the amount of consumers available.

3.) V- This resource is valuable because it draws in consumers and makes them stay. R- This resource isn't exactly rare, but it certainly helps achieve my goals and build my brand to be identifiable yet clean, all while optimizing user-friendliness. A lot of people are artistic though,  so I wouldn't necessarily go so far as to say it is rare. I- This resource could be copied rather easily if I hired a graphic designer (like my Uncle Rob). In fact, this resource would probably even be superior in a professional. However, if a designer drew up several sketches for conceptual directions, I would definitely want to have a hand in choosing the final product. N- There are plenty of other resources that would have the same effect as an artistic eye- like I said, I could use a graphic designer to create the app's aesthetic. 

4.) V- This resource is valuable because being able to take charge of a project without being a control freak (gripping the blade tightly enough to utilize it, but loosely enough so that it doesn't cut your fingers) is essential in being in charge of anything- and especially anything of consequence. R- This resource is rare but not unheard of. Plenty of UF students are capable leaders, but we're also the best school in the state. So take that as you will. I- This resource is not completely inimitable, but it's pretty hard to fake it until you make it when it comes to being a good leader and feeling comfortable in those shoes. It just comes down to the person's abilities. N- There are other resources that could provide the same effect. I could sell my idea to someone else and let them be in charge, which actually doesn't sound horrible now that I think of it.

5.) V- My background in sustainability would be valuable because that's a major reason why people go vegetarian or vegan, and I could implement features in my app with that in mind (sustainability ratings on certain food products, for example). R- This resource isn't necessarily rare, but the study of sustainability is still relatively new. Hiring someone, anyone, as a sustainability consultant would not come cheap. I- This resource is definitely not inimitable, because as I said, another expert in the field could easily replicate my own novice knowledge in the subject- but not cheaply. N- There are other resources (people) that could produce the same effect. Again, other experts in the field of sustainability could easily analyze foods and rate their environmental impact. 

6.) V- My network is valuable because I wouldn't be able to do anything with this idea if I didn't know the people I know. The idea would just sit in my brain until someone else somewhere thought of the same idea and made it happen, while I sit alone in my cardboard box and curse that person for stealing my great idea. R- This resource isn't necessarily rare, because everyone has their own network, but mine is unique to my own experiences and social circles. I- This resource isn't necessarily inimitable, but I think that between my computer science friends at UF, my dad's contacts at IBM, my own sustainability contacts at UF, my Innovation Academy startup contacts, and my family members who are artistic and have graphic design experience... all together the specific combination of my family, friends, and professional contacts equip me pretty perfectly to pursue this idea. N- There are other resources (contacts) that could provide the same help, and I'm sure other students have even better contacts than I do for this project. 

7.) V- Public speaking skills are valuable to this sort of project because it is essential to be able to communicate your idea in a quick, clear, and provoking way. R- This resource isn't exactly rare. Like the leadership skills, it just depends on a person's unique skill set. Some people are great at public speaking and could sell anything, while others can't. It really just depends. I- This resource isn't inimitable, because someone else could do just as good or better than me on selling my idea. I'm not the greatest public speaker in the world, but I think I have a decent grasp on confidence, projection, articulation, and organizing my thoughts in a way that effectively communicates my idea. N- There are other resources that could provide the same effect, if someone else became the spokesperson for this project. 

8.) V- Being in Innovation Academy is valuable beyond just looking good on a resume because "innovation" is a buzzword. It provides students with real business contacts as early as freshman year. At Catalyst, my startup idea won an award and my group was approached by several faculty members from the Warrington College of Business who showed genuine interest in our business platform and idea. This could help set me up for success for when I want to actually pursue a startup idea. R- This resource is only rare in that it is unique to Innovation Academy students at UF and students in similar programs at other elite schools. I- This resource isn't necessarily inimitable, because someone else in IA could use this resource, but it is pretty inimitable for someone outside of IA. N- This resource could be substituted for perhaps a business student's connections and education? I'm not entirely sure on this one to be honest.

9.) V- This desire is valuable because I can use this to make my app the best it can possibly be. R- I believe that this quality is rare, and I don't meet many people who have this quirk. I think it's one of the biggest things that makes me unique. I- This resource is inimitable, because someone can research a project all day, but if their heart isn't into it or they'd rather be doing something other than researching, then the quality isn't going to be the same. N- This resource isn't really able to be substituted. Even with a huge incentive, like a raise or a bribe, I still think that pure passion for something is what produces the best quality of work, especially when it comes to researching. 

10.) V- This quality is semi-valuable. It helps to be approachable so that an interviewee would feel comfortable saying something critical of my idea so that I can make it better. R- I don't think this quality is rare, and plenty of people do research with panelists as an actual job. I- This quality isn't inimitable, because a lot of people are approachable. I just think this quality would help my project. N- This resource is easily substituted, because although some people aren't approachable, someone else who is could be selected to do the interviews/beta tests. 

Final decision: I think that my most valuable, rare, inimitable, and non-substitutable resource is my market. For the reasons I explained above, I think that overall it contributes the most to my idea's "unfair advantage".