Assignment 23A - Your Venture’s Unfair Advantage

1. My Passion. I have a huge heart for dogs and being able to give someone else pet the care that they deserve is something that I would strive to do. I would want the dogs at my facility to be treated like they were my own pets.

·      Value: Dog owners want the best care for their pups

·      Rare: Most facilities are larger corporations that do not have the same passion.

·      Inimitable: There is a chance that someone else has passion for dogs and want to open the same type of facility, but I would say it is a small chance.

·      Non-Substitutable: There are other facilities in my area, but none offer the same amenities & care.

2. Social Capital. I have a good network of professionals in various fields and even two experts in the same field of pet resorts.  

·      Value: Yes, because I already have a solid network

·      Rare: Yes to have a network with experts in the exact fields.

·      Inimitable: Potentially.

·      Non-Substitutable: Cannot be substituted.

3. Location. I live in an area with a higher median income that has limited resources in terms of a dog resort that does not board the dogs in kennels.

·      Value: Disposable income

·      Rare: Does not have similar resorts nearby

·      Inimitable: Hard to replicate a location

·      Non-Substitutable: no other resources can provide the benefit of location

4. Expertise in the area of need.

·      Value: As a dog owner, I have a great understanding of what other dog owners are looking for in a resort/daycare facility.

·      Rare: No, many people own dogs and know what they want in terms of care for their pet.

·      Inimitable: Yes, can be replicated based on individuals experience.

·      Non-Substitutable: Sort of, one could do a market study/survey to understand the need.

5. Lack of Competitors in my area.

·      Value: Less competition

·      Rare: Yes, it is.

·      Inimitable: Cannot be imitated

·      Non-Substitutable: Cannot be substituted.

6. Personability.

·      Value: helps build relationships with customers and the community. Also helps with providing good customer service.

·      Rare: Yes, a lot of places do not have personable people that the customer service is subpar.

·      Inimitable: yes, one can pretend to be personable.

·      Non-Substitutable: cannot be substituted.

7. Education.

·      Value: adds value and helps in all areas of business ownership.

·      Rare: No, most people have education.

·      Inimitable: yes, others can have an education.

·      Non-Substitutable: can be substituted with experience

8. Understanding of Local Regulations for Placement of Facility. I know all the rules/regulations in my local county to prohibit/ or allow this type of facility, so I know which site characteristics to look for.

·      Value: knowledge that others do not have

·      Rare: Yes

·      Inimitable: Not easily understood

·      Non-Substitutable: could substitute by contracting someone to do due diligence.

9. Lower Start-up Costs.

·      Value: Save upfront costs and overhead

·      Rare: Sort of, there are many businesses that can have lower startup costs but not standard pet resorts

·      Inimitable: It is possible for others to start up with low costs

·      Non-Substitutable: Could be substituted for other things.

10. Organizational Skills.

·      Value: Organization skills add value.

·      Rare: Yes, not everyone is organized and I am sure no one’s skills are the exact same as mine.

·      Inimitable: Cannot replicate the exact same skills.

·      Non-Substitutable: Need organization to run a successful business.

I would say my passion is my top resource because it’s something that you either have or you don’t.