Your Venture's Unfair Advantage

1. Current employment

V- My segment focuses closely with students and faculty because I work with sororities and fraternities on campus. It is beneficial to be in contact with your exact target group.

R- I do believe it is rare for someone to be in my position- being in constant reach of my particular target because my staff only has 3 people.

I- It depends on the situation.

N- Yes. Peers, chance encounters, advertisements, social media.

2. Long-term knowledge of the segment

V- Having background knowledge and first hand experience with this segment provides a jump start on truly understanding the audience.

R- Not necessarily "rare" because every big city has this opportunity.

I- Not difficult, as "long-term" can accomplish in a year

N- You could do extensive research in a short amount of time in order to gain a sufficient amount of evidence to support your opportunity. It is not something for long term.

3.  Friends with app development capabilities

V- This is extremely valuable. The entire product is a mobile application so having this resource is irreplaceable.

R- Very rare because most people have to pay thousands of dollars to get an app made.

I- Very difficult

N- Hiring someone to make the app

4.  Access to faculty to get it approved for campus

V- This will make the job easier instead of having to hunt for different people.

R- I do think this is a rare resource and it is beneficial because not everyone has this access.

I- Not necessarily difficult

N- Networking

5.  Enrolled in courses that expand knowledge base on business planning

V- Very valuable because I definitely would not be as well versed on the logistics of how to plan for a course of action

R- Not "rare”

I- Anyone can copy this

N- Job experience

6. Ability to network

V- Networking is good because I can reach good outlets that will publicize my product.

R- Everyone is capable of networking

I- The level of interest is going to vary based on personality types, so it would depend

N- I do not think there are any substitutions

7. Understanding the significance of a social media presence

V- As we have learned, utilizing social media to market your product is vital

R- Not rare in today’s time

I- Not hard to copy

N- Face to face networking, local advertising but still not ideal compared to social media platforms

8. Personality for strategic planning

V- Setting strategic goals involve planning for the long term which I truly enjoy because it gives you an overall purpose and path of execution

R- I do not believe everyone can be consistent and follow plans.

I- Yes, tactics and tools can be learned to effectively and efficiently strategically plan

N- You do not have to have a personality for strategic planning to know it is important and get the job done

9. Genuine concern for targeted segment

V- I experience this need personally, so it is easy for me to care.

R- It can be rare

I- You cannot imitate concern and care for your customers

N- Having others who share the vision

10. Innovative thinking

V- Extremely valuable because this keeps the company improving with every day life.

R- It can be rare to be creative

I- This can be put into the planning process

N- Nothing is comparable

After going over my analysis, I believe that the most important one that I have is knowing others that can make and program apps. This app would cost thousands of dollars to make, and it is one of the most costly obstacles. By knowing other people, it will save the company significantly.