Assignment 23A: Your Venture's Unfair Advantage

Human Capital: Leadership Experience
 I have sufficient experience being in leadership roles, being the captain of my high school tennis team junior and senior year, and being the vice president of one of my high school's only community service clubs.
                  Valuable: These experiences are very valuable, they teach you lessons and develop skills that you cannot learn in a classroom setting
                   Rarity:  For an entrepreneur as young as I am it is uncommon to have plenty of leadership experience
                   Inimitable: My unique experiences are not possible to be imitated, but the skills strengthened by being in a leadership position can be learned easily by others.
                    Non - Substitutable:   There are many opportunities available for people to learn leadership skills and have the chance to be a leader in some organization

Human Capital: Fundraiser Experience
  As captain of the tennis team, I was in charge of running the fundraisers for the team and we raised over $1000 both my junior and senior year
                     Valuable: These experiences were valuable, it taught me effective ways to organize events to gain funding and how to manage the money we gained
                       Rarity:  Experience running fundraisers is not all that common at my age
                        Inimitable: Anyone can start their own fundraiser but its hard to imitate the success  of one unless you have the skills to know how to do it right
                        Non - Substitutable: There are many types of fundraiser activities available and other ways you can fund money for a business such as investors

Organizational: Lack of Competitors
 There are barely any competing firms making breathalyzer attachments for vehicles to prevent driving under the influence
                     Valuable: This is extremely valuable, to have a needed solution to a problem with a lack of competitors can be very profitable
                       Rarity: It is rare to have a business that solves such a large problem and not have anyone else competing against you for your customers
                      Inimitable: The product can be imitated unless I try and patent it which would be one of my first steps
                     Non substitutable: You can still get a majority share of the market buying your product even with competitors if you have something proprietary and different in your product to make it stand out.


Human Capital: Relate to Target Market 
One of my target markets are college students who go out frequently, and although I do not go out a lot, many of my friends do and i am familiar with numerous amounts of people in this market segment
                       Valuable: This is valuable in my opinion, being able to relate to the target market and understand their thought process is important in being able to effectively reach your market
                         Rarity: This is not too rare, most people who start a business have a good relation or have many contacts with those in their target market
                         Inimitable: This can be imitated by reaching out to your own target market or conducting surveys to figure out what your buyers like, and learn more about them.
                         Non - Substitutable: You can get this benefit by hiring employees that can better relate to your target market

Social Capital: Publicity
The issue of drunk driving is a very hot issue today as it causes thousands of fatalities a year. News channels and papers always report incidents like this and awareness of the issue is at an all time high
                       Valuable: This is an extremely valuable resource because it makes people become more and more aware of this problem and will force people to look for ways to solve the problem which is where my product comes in
                        Rarity: This is very rare to have a product that answers a problem that has this much publicity. Drunk driver awareness is very high and and is a problem that has high awareness as well
                        Inimitable: It is hard to imitate having this level of publicity, but there are awareness raising advertising campaigns that you can do to get some publicity
                        Non - Substitutable: The benefit you get from publicity is hard to get in other ways, you cannot get a product to be very successful without ways for people to learn about it

Social Capital: Heavener Student
Being in the Heavener School of Business, I have the opportunity to meet and talk to many ambitious business students and get recommendations on how to better my product and hear other good advice
                          Valuable: This is somewhat valuable to me, those in Heavener like me are also inexperienced and may not be able to offer the best advice in going forward
                             Rarity: This is not very rare, it is easy to find people with a business background who can atleast give you advice and help in other ways
                             Inimitable: It can be pretty easy to imitate this, you can join business clubs anywhere or reach out to people you know and get help
                             Non - Substitutable: You can get the benefit of  good social connections in many places and in all types of organizations

Financial Capital: Funds Saved From Work
Having worked in a food store junior and senior year and over the summer, as well as currently having a job here at UF, I have a lot of money saved up that I can use toward building my business
                              Valuable: This is very valuable, you cannot start a business without spending some of your own money and so having money to spend makes building the business a possibility
                               Rarity: This is not rare at all, every business that starts up has money to use towards it and if you do not have any of your own, then people find investors or get loans
                               Inimitable: This is easy to imitate, anyone can spend their own money to start a business or get a job to help you get money
                                Non - Substitutable: There are many ways to get money without using your own, you can raise funds, or you can get a loan or seek out an investor

Human Capital: Marketing Knowledge
Having taken almost a full semester of Principles of Marketing, I have sufficient knowledge on the types of marketing and what could work best for a product like this
                               Valuable: This is somewhat valuable to a business. I am by no means a marketing expert but I have learned sufficient knowledge that can save me the trouble later of learning how to market my product
                               Rare: Knowledge in how to sell your product is not something that is rare, it is pretty common, it is almost a necessity to make a product successful
                               Inimitable: It is fairly easy to imitate this skill, you would just need to learn and research the art of marketing to be able to expand your knowledge on the subject
                               Non - Substitutable: You can just hire an employee who has expertise in marketing knowledge to help you in this situation

Human Capital: Sufficient Writing Skills
Being able to write with a nice flow to it as well as constructing elevator pitches that best get your point across can be a helpful tool in acquiring investors and selling to consumers
                              Valuable: This is very valuable, being able to effectively write speeches that allows you to get a clear point across will allow you to gain many more customers and acquire investors
                               Rare: Solid writing skills are not that uncommon, people have access to many opportunities online and through classes and experience to strengthen writing skills
                               Inimitable: Writing comes easier to some and not to others. You can imitate good writing skills but it can take more work than someone who is naturally talented
                                Non - Substitutable: You can always hire people to write for you to gain the same benefit or just rely on being a good orator to get the same results

Human Capital: Comfortable Speaking Publicly
I have had many experiences public speaking in small groups and to large audiences, and have grown accustomed to the pressures of public speaking
                               Valuable:  This is a valuable trait, being the owner or creator of the company, you are often a public figure and will have to give many speeches to investors or to consumers and so being comfortable is essential
                                Rare: Pubic speaking skills are becoming more common and not as rare. It is not so uncommon to be a good orator and speak well
                                Inimitable: You can learn to be a good speaker with practice, but it may not come as easy to some as others, making it difficult to imitate
                                Non - Substitutable: Being the face of the company, being able to public speak effectively and persuasively is critical and difficult to find a way to get this benefit in another way


Top Resource: I believe my top resource and best advantage I have is the sheer level of publicity this problem already has. Many people create products for a niche market or for a need that not many people have, but drunk driving is a widely known problem that many people are in need of a solution for, and so by having a product answer to a problem that already so many people face is my biggest advantage thus far.