The unfair advantage of starting your own business has to be choosing something you believe in. Unfortunately this isn't the kind of post I can end with my simple, prophetic answer. I have to show my work.
THUS
Here's
a list of ten resources I have to put in to 1, 2, 3 Play:
1) Mother - Being a mother is not inherently rare, but I am the only one to give birth to my children and raise them in our unique circumstances. As such the experience is extremely valuable and inimitable. I don't like to think about a substitute; if I die, their lives will go on, but they will only ever have one mother.
2) Realtor - Again, the simple fact of being a Realtor isn't rare--there are 1,150,141 Realtors--but the service I offer my clients is unique to me. I am the only me with my own perspective and insights. Woot woot. Is it valuable? In terms of this venture, yes. Is it imitable? Maybe, if someone tried awfully hard. I can't refute substitutability. My clients could go out and find a passable agent that would get the job done.
3) Community connections - I like to wander into small businesses. I'm addicted to SoHo Juice, for example. My connections are authentic, or I like to think they are, and I know there are people with larger networks, but I don't think they're as in tune as I am. VRIN score = 0, Real life score = invaluable
4) Design knowledge - Valuable, yes, rare, no, inimitable, no, non-substitutable, no. I still view my design knowledge as a strong asset because I could save money on building and exhibit design costs, but other people, particularly those with more financial capital, could be on par or better than me with respect to sick design.
5) Education - I'm about to become repetitive. Yes, there are millions of other people out there with college educations. I guarantee you there aren't many people who have taken the path I have taken and have the Renaissance, inter-disciplinary background I have. My education is valuable--I've defended that time and again--it isn't rare or inimitable, though no one would want to traverse the rocky road I've left behind, and the jury is out as to whether it's non-substitutable. Many would argue there are substitutes for education, namely experience, but I'm not sure I agree.
6) Kids - Let me be clear, my kids have a perfect VRIN score. The service they would provide to 1, 2, 3 Play as testers does not. It is valuable to have my littles, and my friends' littles, to run around and provide feedback about what works and what doesn't, but there are thousands of other small children I could rally to try 1, 2, 3 Play so they aren't rare or inimitable or non-substitutable. What my boys say and do, however, is all of those things. Kids are awesome.
7) Organizational skills - My organizational skills are a product of military upbringing, teachers stressing planner use and my severe, Type A personality. I crave planning. Crossing chores/events/assignments off my list brings me great satisfaction. I bet one of you reading this is thinking, "me too!" Organizational skills are valuable but strike out on RIN.
8) Support system - I want to defend my support system; they're one-of-a-kind. One of the best things about them is something that may sound odd: they question EVERYTHING. They would not following me into a dark, murky swamp at two in the morning. They would collectively put a stop to my shenanigans until all inquiries are answered. Their feedback and support is valuable, rare, inimitable and non-substitutable. Our relationships wouldn't be what they are if we hadn't spent our formative years together.
9) Financial leverage - Any schmuck can come up with financial capital so is financial leverage valuable, sure, but it isn't rare, inimitable and non-substitutable unless I'm looking to argue semantics (and I'm not).
10) Common sense - I've been told recently that common sense is rare and valuable. It isn't an inimitable or non-substitutable resource, but there is something to be said for this underappreciated advantage.
1) Mother - Being a mother is not inherently rare, but I am the only one to give birth to my children and raise them in our unique circumstances. As such the experience is extremely valuable and inimitable. I don't like to think about a substitute; if I die, their lives will go on, but they will only ever have one mother.
2) Realtor - Again, the simple fact of being a Realtor isn't rare--there are 1,150,141 Realtors--but the service I offer my clients is unique to me. I am the only me with my own perspective and insights. Woot woot. Is it valuable? In terms of this venture, yes. Is it imitable? Maybe, if someone tried awfully hard. I can't refute substitutability. My clients could go out and find a passable agent that would get the job done.
3) Community connections - I like to wander into small businesses. I'm addicted to SoHo Juice, for example. My connections are authentic, or I like to think they are, and I know there are people with larger networks, but I don't think they're as in tune as I am. VRIN score = 0, Real life score = invaluable
4) Design knowledge - Valuable, yes, rare, no, inimitable, no, non-substitutable, no. I still view my design knowledge as a strong asset because I could save money on building and exhibit design costs, but other people, particularly those with more financial capital, could be on par or better than me with respect to sick design.
5) Education - I'm about to become repetitive. Yes, there are millions of other people out there with college educations. I guarantee you there aren't many people who have taken the path I have taken and have the Renaissance, inter-disciplinary background I have. My education is valuable--I've defended that time and again--it isn't rare or inimitable, though no one would want to traverse the rocky road I've left behind, and the jury is out as to whether it's non-substitutable. Many would argue there are substitutes for education, namely experience, but I'm not sure I agree.
6) Kids - Let me be clear, my kids have a perfect VRIN score. The service they would provide to 1, 2, 3 Play as testers does not. It is valuable to have my littles, and my friends' littles, to run around and provide feedback about what works and what doesn't, but there are thousands of other small children I could rally to try 1, 2, 3 Play so they aren't rare or inimitable or non-substitutable. What my boys say and do, however, is all of those things. Kids are awesome.
7) Organizational skills - My organizational skills are a product of military upbringing, teachers stressing planner use and my severe, Type A personality. I crave planning. Crossing chores/events/assignments off my list brings me great satisfaction. I bet one of you reading this is thinking, "me too!" Organizational skills are valuable but strike out on RIN.
8) Support system - I want to defend my support system; they're one-of-a-kind. One of the best things about them is something that may sound odd: they question EVERYTHING. They would not following me into a dark, murky swamp at two in the morning. They would collectively put a stop to my shenanigans until all inquiries are answered. Their feedback and support is valuable, rare, inimitable and non-substitutable. Our relationships wouldn't be what they are if we hadn't spent our formative years together.
9) Financial leverage - Any schmuck can come up with financial capital so is financial leverage valuable, sure, but it isn't rare, inimitable and non-substitutable unless I'm looking to argue semantics (and I'm not).
10) Common sense - I've been told recently that common sense is rare and valuable. It isn't an inimitable or non-substitutable resource, but there is something to be said for this underappreciated advantage.
My unfair advantage isn't one of the aforementioned resources, it's a lethal combination of all of them. I have the experience of being a mother with kids who can test 1, 2, 3 Play as well as a sister with kids who can test the facility and a mother who is a pediatric nurse with specific knowledge of childhood development and countless resources across the board in early childhood education, community resources and local government. I'm working on a degree in business and have that background but I also have the insight of a former liberal arts student who took courses in design and visual aesthetics.
As a Realtor, I not only have knowledge of local markets and prices, I have the network to consult. Although they seem silly to list, common sense and organizational skills help when building and creating from the ground up. I have collateral I could use to secure a business loan, and with the combination of business knowledge, experience, common sense and organization, I could also write the business plan to present to lenders
In short, it's the whole, not one individual part, that gives me an unfair advantage.
Hi,
ReplyDeleteI really like your idea and I admire how organized you were for this assignment and may I say you are a really great writer. I do have to say I was a little confused at first. It would have been easier for readers if you would have explained your entrepreneurship idea at the beginning. I had to go through some of your past work to understand what you were talking about. This is supposed to be your ventures unfair advantage, and from I got from it you are your ventures unfair advantage? Either way I loved your entrepreneurship idea and great job.
Here’s the link to my blog post if you want to check it out.
http://blogpostsbyalo.blogspot.com/2016/03/your-ventures-unfair-advantage.html