1.
Uniqueness of the Idea/Lack of Competition: My
idea is the first of its kind and will therefore face no exact competition.
·
Valuable: yes very
·
Rare: yes
·
Inimitable: yes but not I would have a head
start
·
Non-substitutable: no for now
2.
Social Capital: Dog Owners: I know a lot of dog
owners because I am one also.
·
Valuable: yes
·
Rare: somewhat
·
Inimitable: no one can match exact
relationships
·
Non-substitutable: yes, people could know other
individuals with dogs
3.
Business knowledge: I have taken many courses
relating to business throughout my time in college.
·
Valuable: yes
·
Rare: no, many people study business
·
Inimitable: yes somewhat
·
Non-substitutable: no, could substitute
education with work experience
4.
Customer Service: I plan to have excellent
customer service at my venture.
·
Valuable: yes
·
Rare: yes
·
Inimitable: yes but to the extent I plan to
provide
·
Non-substitutable: yes
5.
Prime Location: I plan to be located in a city
that has a large population of dog owners and also has a lot of bad weather,
Seattle.
·
Valuable: yes very
·
Rare: no, many ventures plan location carefully
·
Inimitable: yes but not I would have a head
start in that city
·
Non-substitutable: yes
6.
Passion: I love dogs and would put everything I
had into making my business successful so that it would be available to pet
owners.
·
Valuable: yes very
·
Rare: yes, to this extent
·
Inimitable: no
·
Non-substitutable: yes, no substitute for
passion
7.
Affordable Price: I want everyone to be able to
afford to use my facility so it will be affordable.
·
Valuable: yes
·
Rare: somewhat
·
Inimitable: yes, people can match prices
·
Non-substitutable: no, someone could make a
nicer product and charge more but then we wouldn't really be direct
competition/substitutes
8.
Dog Experience: I have a lot of experience
caring for dogs whether it was my own throughout my life or dog-sitting/walking
other's dogs.
·
Valuable: yes
·
Rare: no
·
Inimitable: no one can match exact experience
·
Non-substitutable: no
9.
Social Capital: Pet Industry Individuals: I
know many people within the pet industry.
·
Valuable: yes
·
Rare: somewhat
·
Inimitable: no one can match exact
relationships
·
Non-substitutable: yes, people could know other
individuals within the industry
10.
Extra Amenities: I will have food and drinks,
doggie daycare, and even boarding opportunities available in addition to just
access to the indoor dog park.
·
Valuable: yes
·
Rare: somewhat
·
Inimitable: yes
·
Non-substitutable: yes
Of course all of these resources are what give my venture an unfair advantage but I think the one that gives me the biggest would be my passion I have for my venture. Not only will I have passion to make sure the business succeeds so I can support my family, but I also will have passion to provide the product my customers need with the best customer service possible.
