23A – Your Venture’s Unfair Advantage

My Venture's Current Resources

1) Connections to a local neighborhood comprised mostly of senior citizens

• V - Valuable networking early on. To improve and further test my concept
• I - Establishing these connections will/did take time. Competition will have a hard time copying but are able to reach out to similar demographics
• R - I don't consider this resource rare. Maybe in some locations where the elderly population is smaller
• N - There are no substitutes to this resource. These connections allow me to learn about my target consumer better than any other method.

2) Human capital - personal experience with guiding elderly who are scam victims recover

• V - This experience is valuable. Not too many people have experienced the emotional and financial burden the elderly carry after they become victims.
• I - Other competitors may deal with these experiences but may not take the time to fully understand them and overlook their value.
• R - I consider this experience rare. Not too many people encounter this situation or know how to handle it.
• N - Without this experience it is very difficult to understand the problem facing seniors or creating innovative solutions for this problem.

3) Physical resource - Design plans for packaging

• V - I consider this a valuable resource. Efficient and organized packaging lessens the hassle and can lower costs,
• I - Copying this resource exactly will be extremely difficult
• R - This specific design is rare, but packaging as a whole is not.
• N - For my concept to work, packaging has little substitutes. I am avoiding an online presence because seniors are not always online. 

4) Automobile to deliver packaging

• V - Valuable for early stages of my business
• I - Other established companies may have a better and more efficient method of delivery
• R - I don't consider this resource rare.
• N - A bicycle and a delivery service are substitutes

5) Physical resource - Designs for structuring scam information for elderly to understand

• V - Valuable for the survivability and profitability of the business
• I - Other companies will have to do extensive R&D to copy or get similar results
• R - I consider this specific layout of information rare. No one has this as far as I know.
• N - There may be substitutes to make the information even more understandable, but as of now I do not know any substitutes. 

6) Human capital - programming: network and cybersecurity experience

• V - valuable for understanding how scammers operate and the methods used to combat them
• I - Many hi-tech established firms have teams of software and network engineers at disposal
• R - With rapidly advancing technology, this skill is being more common over time
• N - For the best results, this resource has no substitutes or alternatives

7) Financial and social capital - close family members work for Bank of America

• V - Valuable early on for funds needed to cover operation and other expenses. Also, for building relationships with a national bank. 
• I - Other companies may already have their financial needs met and established good relations with a national bank.
• R - Having good connections with a bank and its members may uncommon, however, since other competitors have established themselves already, I wouldn't consider this very rare. 
• N - Substitutes include building relationships with a local bank and scaling upward. It will take more time, however.

8) Operations strategy to deliver weekly

• V - Valuable for the business model and feasibility. 
• I - Other delivery services (competitors) can deliver daily
• R - More companies are moving toward same day delivery so its not uncommon. 
• N - I could move to bi-weekly or more times a week based on the demand of my service

9) Capabilities - knowledge in information systems and operations management

• V - Valuable in a sense that this knowledge can open more opportunities for innovation. 
• I - This knowledge can be learned and copied, but it may take time. 
• R - The knowledge is not rare. Classes and courses are being taught on the subject online everyday
• N - It can be substituted with a related technical degree or knowledge

10)Innovating products based on changes in scammer tactics

• V - Valuable for maintaining a competitive advantage long-term.
• I - Others may not consider adopting innovative solutions willingly or look for opportunities as I am. 
• R - I consider innovations based on changes in scammer tactics rare.
• N - Substitution - could be focusing on innovative opportunities based on consumer preferences.

My Top Resource

Based off my analysis of each resource, I believe that the designs of structuring scam information to make it more understandable will allow me to establish a substantial competitive advantage over my competitors. The reason this resource stands at the top above all the other current resources is because it lays the foundation of my business model. Without it, my target consumer would not be better off, the credibility of my business would fall, and there would be little separation between my business and competitors.