23A – Your Venture’s Unfair Advantage

 1.  Originality: This product is the first of its kind.

• Valuable: I'm the only one in the market, which would mean I have the entire market share until another develop comes along. This advantage is huge.
• Rare: One of its kind, extremely rare.
• Imitable: Someone could imitate this idea; however, accuracy of the product may not be there.
• Non-substitutable: This product doesn’t have a substitute that can provide the same benefits

2. Social Capital: I have contacts with over a hundred other traders, and top professionals in the finance field who manage risk-management.

• Valuable: Connections with over 100 traders will allow for more diversity when it comes to software use. This will also jump start my marketing my spreading information about the product to other traders.
• Rare: Not as rare, but connecting with over a 100 traders who will respond is uncommon.
• Imitable: This is not too hard to imitate; anyone can make connections.
• Non-substitutable: These are great connections to have that have many kinds of experience, non-substitutes are not believable.

3. Social Capital: Anyone can be a trader, including friends and family. Everyone wants to invest their money.

• Valuable: I can talk to friends and family that can help with the simplicity of the product in terms of use and other unknowns to them.
• Rare: This resource is not too rare
• Imitable: It is, for the most part people have friends and family.
• Non-substitutable: Anyone can be interchangeable.

4. Human Capital: I have experience in customer service through working many jobs in different banks.

• Valuable: When it comes to a product that helps traders with emotion, customer service is needed. This experience is valuable.
• Rare: This experience isn’t rare if one worked in the customer service field.
• Imitable: This depends on whether the individual took their experience as serious as another.
• Non-substitutable: There is no substitute for experience.

5. Financial Capital: I have managed my parents portfolio and know how to manage the funds for my business as well as support it.

• Valuable: Not many people know how to manage money. This is very valuable.
• Rare: Again, not many people know how to manage their money, especially for a business.
• Imitable: This attribute can be imitated if one practices their management skills
• Non-substitutable: An accountant or a person who can do it for me (costs).

6. Human Capital: I have always been outgoing and grow from failure.

• Valuable: This is extremely valuable when being an entrepreneur. Failure comes a lot when exploring customer’s needs.
• Rare: Not that are rare. Some people are meant to grow from failure, others have a difficult time.
• Imitable: I think anyone can grow into a person who can be outgoing and learn to grow from failure.
• Non-substitutable: There is not quick substitute for personality.

7. Financial Capital: My uncle, along with my parents are with me and are financial supporting my plan.  

• Valuable: Money is essential when it comes to starting your own venture. What is more valuable than money is support, which my family also gives.
• Rare: This common. However, not everyone is as fortunate.
• Imitable: This could be imitated, but again you need to be fortunate
• Non-substitutable: There’s loans that are easily assessable.

8. Human Capital: I’m well educated in the finance world, and I am attaining an education at the University of Florida.

• Valuable: Education is valuable, especially if its in the line of field of my business product.
• Rare: Not everyone can acquire an education.
• Imitable: If someone is able to work had and be able to go to school then its readably imitable.
• Non-substitutable: This can be substituted by just studying your industry.

9. Social Capital: I'm always working towards building my network through gaining new connections in the trading world.

• Valuable: A well connected network can be more valuable than many other resources.
• Rare: Not that common, to have a vast network, however, it is rare to have connections with over 100 traders.
• Imitable: Networking is imitable by practicing networking.
• Non-substitutable: Nothing beats a strong network.

10. Human Capital: My mentors over the past few years have helped with many endeavors in my life. They are with me 100 percent.

• Valuable: This is extremely valuable. Mentors are huge and give support through tough times.
• Rare: It’s not easy finding good mentors that will take the time to teach you.
• Imitable: If you go out and look for mentors, they are there. This is easily imitable.
• Non-substitutable: Certain mentors are specific for certain fields of careers. I believe there is no substitutes.

Reflection: After going over each of my recourses carefully, I believe many of them are crucial for my business plan to work. It is tough to say, which ones are my top. However, I believe the vast network I have with many traders are essential. Networking puts you into touch with people that you may have never met through acquaintances. Networking allows for more opportunities to be met that I can expand my business product to. If it wasn’t for the vast network, there wouldn’t be a diverse platform for my software to operate.