My Unfair Advantage

week 11

1. Competitive Drive - It is valuable because it will drive me to always strive to improve sales and reach more customers. It is rare because many people are complacent with their businesses which causes them to be surpassed. It is inimitable because no two people really have the same sort of competitive drive.

2. Creativity - It is valuable because creativity is what makes a business stand out above the others. It is rare because out of the box marketing strategies help set trends in the marketplace. It is inimitable because if someone copies your creative strategy, the people will have already seen it before and not be impressed. It will have to be one upped.

3. Sense of Humor - It is valuable because it helps maintain a calm state of mind even in a hectic work environment. It is rare because people get so stressed out these days and need to know it is not the end of the world if things go awry. It will make for happier employees and no other resource can provide these benefits.

4. My mom - She is valuable social capital through her immense amount of connections throughout our community. As a personal trainer at the local YMCA who started a walking/biking club, and is a captain for organizing tennis teams, she knows just about everyone in the grocery store. So if I were to start a business, her trusted word of mouth would be the best and cheapest marketing I could get. Obviously she is inimitable and rare.

5. Location - This is valuable because it must be easy access for every beachgoer and person driving by to see and park at. It is not very rare considering many shops and restaurants are located on the beach.

6. Raising Capital - It is valuable because we need money for inventory and all the other sorts of costs that go into starting up a business. It is not rare but can be inimitable depending how creative we can get to raise money.

7. Friends and Family - They are extremely value via their support, spreading my business by word of mouth, investment and skills. For example, my uncle is a Chef and could help with the menu to write up some unique recipes. No two people are the same and my friends and family are definitely a rare and inimitable bunch.

8. Previous work experience - In my short life of 20 years, I have worked 8 different types of jobs from a car wash to a pizza place to receptionist to camp counselor to event planner to server and anywhere in between. These jobs have helped build the hard worker I am today as well as build great customer service skills, teamwork and leadership skills. I would definitely say it is rare for someone my age to have as much work experience as I do.

9. Passion - I am very passionate person when it comes to something I care about. I want to start my own business on the beach because it is my favorite place to be in the whole world. So if I am happy at work, my employees will be happy, and therefore my customers will be happy and life will be good. Unfortunately, I think it is rare that people love their jobs and are passionate about the work they are doing.

10. The Beach - It is inimitable because no two beaches are the same. It is valuable because this is where majority of customers will be coming from.

While my mom is the most important resource to me, I would have to say my venture's most important resource is to be passionate. I want my customers to feel as though they are at their vacation home. A happy business and its employees will result in happy and returning customers.