23A - Your Venture's Unfair Advantage

A LIST OF MY TOP 10 RESOURCES

My knowledge of entrepreneurial success from my father and grandfather
Value - The knowledge I have acquired from the trial and error efforts of my father and grandfather holds a great amount of value when embarking on my own entrepreneurial business.
Rare - It is rare in the form that it can only come from those two men, however others have similar knowledge from their own family members.
Inimitable - The individual experiences of my father and grandfather cannot be replicated
Nonsubstitutable - I suppose this knowledge could be substituted by my own trial and error efforts, however with this knowledge I can skip steps and learn from their mistakes as to avoid making the same ones

The education I am receiving in business
Value - My education in business is very valuable in terms of creating a business from the bottom up.
Rare - Others can receive the same education, if not better, therefore it is not rare. The rarity comes from what I take away from the courses and which courses I decide to take.
Inimitable - It can be imitated at other institutions by other students.
Nonsubstitutable - While you can garner education from trial and error experiences and apprenticeships, there really is not exact substitute for education.

My experience in accounting and controlling
Value - My experiences in working within these two departments will be valuable in the financial and managerial aspects of my business.
Rare - Others have the same working experience, the rarity comes from the particular experience I have received by working at the specific organizations as opposed to others.
Inimitable - This type of work experience can be imitated at other organizations.
Nonsubstitutable - Technical work experience in these fields cannot be substituted, not even by the theoretical education of these fields.

Extrovert - Intuitive - Thinking - Judging
Value - These Myers-Brigg personality types are valuable to understand how my personality and who I am as a person will tackle this business venture.
Rare - There are many others who identify with the same personality types.
Inimitable - While others may have the same code as me, one cannot imitate the exact ratio in terms of each personality type. For instance, I could feel much more extroverted than another person.
Nonsubstitutable - There is no substitute for ones own personality.

Bridging the gap between technology and fashion 
Value - This resource is highly valuable to my business venture as I intend on using technology (virtual reality) to better online shopping experiences (fashion).
Rare - It is not all that rare as online shopping already exists, as does virtual reality.
Inimitable - This technology and app could be imitated by other businesses.
Nonsubstitutable - The substitute to this business would be to shop "the old fashioned way", in-store rather than online.

Improving the online shopping experience
Value - This resource is very valuable to my business opportunity, as well as online shopping in general.
Rare - I consider this resource somewhat rare in the manner that it intends to improve the experience.
Inimitable - Other business ventures could imitate the improvement of online shopping in other ways.
Nonsubstitutable - I don't believe this is substitutable as just less than half of all online shoppers are currently dissatisfied with online shopping today.

Creating a virtual shopping mall by partnering with different brands
Value - In terms of my business venture becoming successful, this resource is valuable. The more brands partnering with Virtual Shopping, the more attention and success it will receive.
Rare - As there is no current virtual shopping mall, this resource is rare.
Inimitable - Other businesses could imitate this resource.
Nonsubstitutable - There could be possibilities to substitute this resource. Perhaps a shopping mall is not necessary, but rather individual brands located on the app.

Keeping costs low with brand advertising and monthly subscription fees
Value - This resource is very valuable in terms of the financial aspect of my business. Keeping costs low will ensure a longer success rate in the beginning stages of the venture.
Rare - Other companies utilize this resource for their own businesses.
Inimitable - It has been imitated by other organizations for app services.
Nonsubstitutable - I'm sure there are other ways to keep costs low, not just brand advertising and subscription fees

A product for men and women
Value - This is valuable for my product because this ensures a large market and endless customers.
Rare - There are many other products and services that are offered for both men and women.
Inimitable - As it is not rare, it is imitable.
Nonsubstitutable - I don't believe it is substitutable, as making the product only for men or women would change the whole business venture.

User-friendly app for all ages 
Value - Being user-friendly is extremely valuable as many technological devices and advancements can be too difficult for certain age groups to catch on to. If my service is too technologically advanced for older demographics, those customers will not use my service.
Rare - This is not a rare resource, many other apps are user-friendly for all ages.
Inimitable - This resource has been imitated over and over.
Nonsubstitutable - If I substituted this resource, I would lose customers. Therefore, I believe it to be nonsubstitutable.

MY TOP RESOURCE

I believe my top resource to be my first, the knowledge on entrepreneurial practices I have learned from my father and grandfather. Both men have been entrepreneurs all their lives. By learning from their ups and downs, their mistakes, and their successes, I believe I have an advantage when it comes to my own entrepreneurial ventures. I have an insider look at how to really start and run your own business. I think this is my top resource because many people don't start their own business as they don't know what it's really like or where to even start. The knowledge passed down to me will be a resource I carry throughout my life.