Your Venture's Unfair Advantage- 23A

Resources

1. Knowledge of fitness activities
• Valuable- It is valuable in the context of my venture. Since my venture deals with fitness, having knowledge in fitness activities is necessary to create the app.
• Rare- This is not rare. Many individuals throughout the world have knowledge of fitness activities. They also probably have more knowledge than me. 
• Inimitable- This can easily be copied. Knowledge of fitness activities can be learned.
• Non-substituable- This is considered non-substitutable. Knowledge of fitness activities is crucial when creating a fitness app therefore nothing can replace it. 
2. I care for the world's well being
• Valuable- I believe this is very valuable because I will not try to exploit my customers. I want this app to become something that gets the world more active, not to make a lot of money from it. 
• Rare- I believe this is rare in the fitness industry. Most companies in the industry are exploiting their customers because they know their customers are willing to pay high amounts. Such as fitness clothing brands. 
• Inimitable- This can't be copied but someone else can feel the same way. Copying this feeling will make the individual a fraud. 
• Non-substituable- This is substitutable. Care for the world's well being can be taken out and the app can still function completely fine. The only difference is the pricing might differ based on who is in charge. 
3. I have a friend that can code an app
• Valuable- Knowing someone who can code an app or the ability to code an app is essential for this venture. Since the venture is an app this is a required ability to get the service out to the public. 
• Rare- This is not rare. With the emphasis on higher education many individuals have learned how to code apps through school. The ability to code an app can also be self taught using tools on the internet. 
• Inimitable- This can easily be copied. Another individual simply has to learn how to code an app or find someone who knows how and they can copy this. 
• Non-substituable- Knowing someone who has the ability to code an app is substitutable. If someone knows how to code an app they don't need someone else. However the ability of coding an app whether it be oneself or someone else is non-sustainable. 
4. Connections with individuals in fitness related fields throughout America
• Valuable- Having these connections are very valuable. Through these connections I can market my app to individuals across America for free. Also I can get feedback from people all over before launching my product. 
• Rare- Having these connections is considered rare because not that many people have these connections. But in the fitness industry it is not rare because a lot of individuals are connected. 
• Inimitable- This can be copied by someone however it will be hard for an average individual to do so. Making contact with individuals in the fitness industry is difficult because many will see you as a fan or follower and treat you as such. Also even though they make contact it is hard to form a relationship. 
• Non-substituabe- This resource is substitutable. There are other ways to market the app and receive feedback however they can cost money. This resource doesn't so it has an advantage.
5. Experience with fitness apps
• Valuable- Having experience with fitness apps is very valuable. By using them I can find different opportunities and then use my app to solve them. 
• Rare- This resource is not rare. With the age of smartphones many individuals have used fitness apps to supplement their training. 
• Inimitable- This can easily be copied by others. They can download a bunch of fitness apps and use them and figure out their own opportunities. 
• Non-substitutable- The same benefit can be achieved by surveying individuals who have used fitness apps and then forming opportunities from that. This is similar but requires a lot more effort than using your own experience.
6. First hand knowledge of the opportunity
• Valuable- This is valuable in that I can create a solution easier since I know what the opportunity is and why it occurs. 
• Rare- This is not rare. Many individuals in the gym will have experience of this opportunity. However they will most likely not see it as an opportunity. 
• Inimitable- This knowledge can be copied. Any individual can go to a gym and try to find someone to workout with. 
• Non-substituable- It is replaceable. Another person with no experience of the opportunity can also create the app. However they may not solve the opportunity fully if they do not know the reason for it. 
7. Connections with fitness product entrepreneurs
• Valuable- Very valuable resource. Having connections with entrepreneurs in the fitness industry allows me to gain knowledge about the target market and how to approach them and sell to them. 
• Rare- This is a rare resource. Most people do not have connections with entrepreneurs in the fitness industry. However in the fitness industry most of the individuals are connected with one another. 
• Inimitable- This is difficult to copy. Contacting entrepreneurs and forming a relationship is a little difficult. They are most likely busy with their business and do not have time to talk to "unknown" people. 
• Non-substitutable- This can be replaced by entrepreneurs in general. However that advice is not specific and may not always apply to the fitness industry. 
8. My powerlifting position
• Valuable- This resource is somewhat valuable. Since I am a powerlifter I regularly train at a gym and have met many individuals there. As a result I can spread information about the app at the gym. Also as a powerlifter I compete. At competitions I am also able to share information on about my app. 
• Rare- This is not rare. Many individuals go to the gym. Also many of those who create fitness apps probably go to the gym as well.
• Inimitable- This can easily be copied. Anyone can join a gym and meet people there. 
• Non-substituable- The same benefits can be achieved by marketing at a gym or competition. However that can be expensive and because it is an ad most people at the gym will brush it off. 
9. Experience as a brand ambassador
• Valuable- Experience as a brand ambassador is valuable. As a brand ambassador I promoted and represented a brand. From that I have learned marketing techniques as well as how to target individuals. 
• Rare- With the rise of fitness products in the recent years, brand ambassadors are not rare. Many brands use ambassadors to market their products cheaply. However it is still rare to find a brand ambassador in a crowd of people. 
• Inimitable- This experience can be copied. If someone becomes a brand ambassador or is already a brand ambassador they can have the same experiences. 
• Non-substitutable- This resource is substitutable. Experience working in sales can mimic the same benefit it just won't be as specific and targeted towards the fitness community. 
10. Lack of competition
• Valuable- Since there is no competition, this is valuable. Having no competition means that I have the monopoly at the moment. 
• Rare- Being that there is no competition. My venture is rare because I am the only one in the industry. 
• Inimitable- It can easily be copied if someone else enters my industry. However after so many individuals enter, the lack of competition disappears. 
• Non-substituable- Having a lack of competition is non-substitutable. The only thing that can substitute it is if I have a monopoly or a patent. 

I think that caring for the world's well being is my most important resource. I believe it will allow me to create a product that is beneficial to individuals and does not exploit them for their money. Also because I want to do this to make the world more fit instead of money, my culture will stay the same no matter what happens to the company. Therefore I will stay true to myself and hopefully I can keep loyal customers that way. Because change can recreate the business, resulting in a loss of customers. I believe this will keep me motivated and help me exploit the opportunity and create something that betters the world.