Your Venture’s Unfair Advantage

1. The best solution compare to the alternative.
V: Extremely valuable as people want an easier way to find parking and that's what the service is for.
R: Rare because there are currently no new ways to find parking besides just driving around.
I: Would be easy for others to create a similar application with the right resources.
N: Non-substitutable as of now.

2. A wide range of targeted audience to sample the idea.
V: Valuable because getting feedbacks about the idea is crucial to improve and adjusts.
R: Not rare because others can access this same group as well.
I: Won't be hard for others to do the same thing and gain feedbacks from a targeted group.
N: Cannot be substituted because other groups of people would not have this need.

3. The reward system incentive.
V: Very valuable because it encourages users to follow the mechanism that allows the application to work smoothly.
R: Not rare because other applications and businesses have utilized this.
I: Won't be hard for businesses to do the same thing as long as they have connections with brands that can offer them the deals.
N: Can be substituted with other rewards.

4. Knowing people with programming capabilities.
V: Extremely valuable as the application itself need to be programmed for it to become a business and I can save cost
R: Not rare because others can program as well.
I: Won't be hard to imitate because programming is common.
N: Can't substitute the programming otherwise the app won't exist.

5. Having brand connections to provide the rewards.
V: Valuable because this will path an easier route to gain sponsorships for the app.
R: Not rare because most businesses look to gain sponsorships.
I: Inimitable because anyone can look to businesses for sponsorships.
N: Can't substitute the connection.

6. Customers that are already willing to buy the service.
V: Valuable because the application is user driven, having customers at an early stage of the app is crucial.
R: Rare because sometimes it is very difficult for an application to launch at the start.
I: Won't be able to copy the customers as each of them are individual and unique.
N: Can't substitute customers.

7. More and more people are having access to smart phones.
V: Valuable because as more people have access to smartphones, the likelihood of them being exposed to the application goes up.
R: Not rare because technology is moving at a fast pace and everyone is being exposed to technology.
I: Easy to intimidate as everyone has equal access to people with smartphones.
N: Can't substitute as the people with smartphones is an essential part of the application.

8. Enough start up capital to create the business.
V: Valuable because there are costs that is crucial for a business to start up and having the financial ability to cover that is important.
R: Not rare because every business requires money.
I: Other businesses can have the same ability or even more capable financially to start.
N: Can't substitute what is financially necessary for a business.

9. Ability to put in the time necessary to work on the idea.
V: Valuable because as a college student I have more time to put into the idea as compare to if I was older with a job/family and other obligations.
R: Rare because sometimes ideas fade because not enough attention was given.
I: Other businesses can achieve the same result by putting in equal amount of time or more.
N: Can't substitute the time and effort that is needed to put into a project.

10. Ways to promote the application on campus.
V: Valuable because exposure is very important for a start up business to gain momentum.
R: Not rare because others have the same platform.
I: Can be imitated due to the variety of ways to promote on campus.
N: Cannot replace the promotion and advertising part of business.

I believe my top resources are my social capital ones, all the connections I have that can help me make the idea more efficient and cohesive. Those are extremely important than others because it is very difficult to get a business started with just one person, with more people the idea's capability to expand and become successful increase exponentially.