23A- Your Venture's Unfair Advantage

1. Creative marketing strategy that gives my new store a competitive advantage.

Valuable: This is my most valuable resource, I will give free groceries to  every 100th customer 

Rare: No other grocery store has this marketing strategy.

Inimitable: It is easy to copy, but most established grocery stores will not change their ways

Non-Substitutable: There are no other resources like this.

2. Multiple connections in the grocery supply business.

V: These people will help with my food supply and any questions I have about the industry.

R: It is rare to have connections with suppliers this early in the process.

I: This is easy to copy as every grocery store has suppliers.

N: My store will need to have multiple suppliers if I want great quality of all types of food.

3. Business education from a great university

V: The skills I learned studying business for four years will be helpful for building a business

R: This is relatively rare, there a lot of good schools out there, but University of Florida is among the best public schools.

I: This is not easy to copy because it is a four year education.

N: There are other resources like this because an education means nothing if you don't apply the skills you learned.

4. A strong elevator pitch that has gone through multiple rounds of feedback.

V: This is valuable because in order to get funding I will have to sell my idea to multiple investors.

R: This is not that rare because every good company has a strong elevator pitch.

I: This is hard to copy because it is very unique to my product.

N: There are no other resources like this.

5. A business plan I have worked on in this class.

V: This is valuable because I have thought about this company in many constructive ways that helped grow and develop ideas.

R: This is rare because a lot of people do not have this class to help grow their company. 

I: This is hard to copy because it is unique and focuses on fixing the weakness of your business idea.

N: There are not many resources like this. 

6. Determination 

V: This is very valuable because every entrepreneur needs determination.

R: This is not too rare because a lot of people have determination.

I: This is not hard to copy.

N: There are not many resources like this.

7. Passion for the food industry.

V: This is incredibly valuable because succeeding is a lot easier if you have passion for what you are doing.

R: This is not rare.

I: It is not easy to copy passion.

N: There are no other resources like it.

8. It will be an exciting place to grocery shop.

V: This is valuable because it will bring in a lot of customers who want the chance at winning free groceries.

R: This is very rare because people usually do not enjoy grocery shopping.

I: This is hard to copy.

N: This is similar to my first resource of my competitive advantage.

9. It is new

V: A new business can be flexible to customers and change things easily as they seem necessary.

R: It is rare because there are not many new grocery store out there and people may like trying something new.

I: This is not something that can be copied.

N: There are not any other resources like this.

10. Connections to people who work at other grocery stores.  

V: This is valuable because you want to know people in multiple areas of the industry.

R: This is not very rare but it is necessary.

I: This is not hard to copy.

N: This is similar to resource number 2.

My most important resource is my unique marketing strategy of giving away free groceries to every 1 in 100 customers that enter the store. Without this, I am not too different than any other grocery store.