23A- Your Venture's Unfair Advantage

23A - YOUR VENTURE'S UNFAIR ADVANTAGE

My business: a website that connects potential private investors with technology startups to facilitate investing

1. Social capital: personal connections to technology startups

I spent last summer working for a technology startup accelerator, and made developed personal relationships with 8 technology startups in need of startup funding.

1. Valuable: Extremely valuable. I have personal connections to my target market, and therefore I can tailor my service directly to their issues. I have experienced their struggles first hand. Additionally, I have potential customers for when my product goes live.
2. Rare: Quite rare. Many people know entrepreneurs, but I have a very specific niche of customers, that I happen to know personally.
3. Imitable: Somewhat difficult to copy by others. They can try to go out and meet this type of entrepreneur or connect on LinkedIn, but it takes time to develop trust and connections.
4. Non-substitutable: Very difficult to substitute. Can connect on LinkedIn, but online relationships don’t hold nearly as much weight as an in person connection.
1. Social capital: personal connections to private investors

I spent last summer working for a technology startup accelerator, and made developed personal relationships with several private investors.

1. Valuable: Extremely valuable. These connections can possibly help me fund my own venture and/or sign up for the service and connect with other entrepreneurs to fund their businesses.
2. Rare: Extremely rare. Not many people have the financial capacity to privately/individually invest thousands, or even millions, of dollars required by technology startups.
3. Imitable:
4. Non-substitutable: Extremely difficult to be substituted. Can connect on LinkedIn, but personal relationships are far more successful.
1. Social capital: connections to business and investment lawyers

Investing in companies requires a plethora of complicated legal work. In addition, owning a technology company requires patents and other legal services.

1. Valuable: Extremely valuable. Legal situations and contracts are complex and difficult to understand without a law degree. In addition, lawyers are extremely costly, and having a personal connection can help financially; they might be willing to help with some things for a lower, friends and family price.
2. Rare: Somewhat rare. Many people know a lawyer or two, but I know tens of lawyers that specialize in this line of law.
3. Imitable: Able to be imitated, but would be difficult to develop personal connections to get discounts. Also, difficult to know lawyers in this line of law. (For example, a lawyer specializing in medical lawsuits will most likely be of little help.)
4. Non-substitutable: Extremely difficult to substitute. The only equitable substitutions to knowing a lawyer is having your own law degree or using your own research. Odds are, you don’t have a law degree, and have difficulty researching these topics on your own.
1. Lack of competition

There isn’t a platform like this in the industry.

1. Valuable: Extremely valuable because there is little competition.
2. Rare: Somewhat rare to lack competition.
3. Imitable: My product is unique now, but can easily be replicated in the future.
4. Non-substitutable: Many substitutes to private investors, such as Angel Funds and investments from public universities.
1. UF Business education

As a UF business student, I am equip with the proper business education, as well as valuable connections to alumnae.

1. Valuable: Quite valuable to have the proper education in your desired field, especially from an accredited school and a strong alumni network.
2. Rare: Not rare. There are thousands of UF business students, and hundreds of thousands of business students from accredited universities around the country.
3. Imitable: Very easy to imitate. While getting into the University of Florida is difficult, you can transfer or gain acceptance to the online college much easier and earn a UF business degree.
4. Non-substitutable: Could easily have a business degree from a different university and still be successful. Could not even have a business degree and still be successful (however, I’m sure it would be easier to pursue the venture with four years of education and credibility first).
1. Public speaking experience

I am a skilled and confident public speaker, with plenty of experience from school assignments, extracurricular positions, work meetings.

1. Valuable: Quite valuable to have the experience of giving presentations and communicating with professionals.
2. Rare: Not rare-- many people public speaking experience.
3. Imitable: Very easy to imitate. Many people can develop public speaking skills with practice.
4. Non-substitutable: Nearly impossible to substitute strong communication.
1. Fundraising experience

I’ve had extensive fundraising experience, which will become vital when I need to start raising money for my venture.

1. Valuable: Quite valuable, as I will need to raise money for my own venture.
2. Rare: Not rare. Many have had experience fundraising.
3. Imitable: Very easy to imitate. Anyone can join a nonprofit and gain experience in fundraising.
4. Non-substitutable: Cannot substitute money.
1. Sales experience
1. Valuable: Quite valuable. Must be able to sell potential investors in helping me raise funds for my venture, as well as potential clients (entrepreneurs and investors) into using my product.
2. Rare: Somewhat rare. The better sales skills you have, the rarer they are.
3. Imitable: Easily imitable. Can develop sales skills at nearly any job.
4. Non-substitutable: Impossible to substitute sales skills unless you hire someone else.
2. Website development skills

At my internship, I was helped develop a website for one of the startups in the accelerator. Additionally, I have met many other skilled web developers from my time at UF.

1. Valuable: Quite valuable, as my entire service will be a complex website.
2. Rare: Not rare. Many people have coding experience, can take courses at a university or learn online.
3. Imitable: Very imitable, as many can pick up coding. However, not many will as it is very difficult.
4. Non-substitutable: Can substitute and hire a graphic designer.
1. Social capital: connections to graphic designers

Between my time at UF and my summer experience, I have met many talented, creative graphic designers that can help me develop a strong brand for future advertising and marketing.

1. Valuable: Quite valuable, as strong graphics are essential for branding, marketing, and advertising, and therefore selling.
2. Rare: Not rare, as developing graphic design skills is very easy.
3. Imitable: Very imitable, as many people can develop graphic design skills either from university courses or from watching Youtube.
4. Non-substitutable: Easily substitutable. Can hire someone else.

Of these 10 assets, I believe the most valuable is my connection to investors because they can help me start my own venture, and develop a portfolio of entrepreneurs that will use my site. However, overall, my most valuable assets are those from social capital.