23A Your Venture's Unfair Advantage

10 Resources in My Venture/VRIN Analyses

1. Financial Capital (gov't aid)
1. Valuable - Money to buy needed goods
2. Rare - Money is not rare, according to Professor Pryor!
3. Inimitable - Most other businesses are not government funded
4. Non-substitutable - can only be substituted with money donations
2. Fundraising Power
1. Valuable - special team of fundraisers that will reach out to collect donations
2. Rare - People can only donate to so many charities before reaching their limit
3. Inimitable - people will want to support a good-doing business
4. Non-substitutable - my fundraisers can only work for one business at a time
3. Corporate Social Responsibility
1. Valuable - We are helping the community
2. Rare - Most businesses are not solely dedicated to helping the homeless
3. Inimitable - the organization will continue to have the same mission statement
4. Non-substitutable - there are not many organizations that focus on this single cause.
4. Donation resources
1. Valuable - every donated item counts
2. Rare - not everyone is willing to donate, so we must have recurring donors
3. Inimitable - only certain items will be taken/used
4. Non-substitutable - it helps to be located near a college campus where there are many people able to donate old items
5. Social capital (volunteers)
1. Valuable - people are the core of my business idea
2. Rare - every person who volunteers/works for Homeward Bound will bring a unique skill
3. Inimitable - see above reason.
4. Non-substitutable - each person is unique and cannot be substituted easily
6. Clear mission statement
1. Valuable - people must know what our organization stands for
2. Rare - with a good mission statement, we will be distinct
3. Inimitable - people cannot copy us if we become distinct enough from others
4. Non-substitutable - a strong organization is not easily copied
7. Growth/expansion plan
1. Valuable - Having a clear plan for growth means longevity for a business
2. Rare - My business could expand virtually anywhere due to the nature of its services
3. Inimitable - not many businesses can expand so easily
4. Non-substitutable - Once you have a good growth plan, you won't need to substitute it with anything else
8. Steady need for business
1. Valuable - a business has a good chance of survival if there is a steady need for it
2. Rare - not many businesses can survive throughout financial crises
3. Inimitable - your business will always survive if people keep needing it
4. Non-substitutable - it's nonsubstitutable 
9. Social contacts
1. Valuable - having good social contacts can make starting a business easier
2. Rare - not everyone has a good social network
3. Inimitable - get people on your side that can help you make the business work
4. Non-substitutable - create a loyalty to your business
10. Good management of finances
1. Valuable - making sure money is not unaccounted for or lost
2. Rare - Money is not rare, but good bookkeeping can be helpful
3. Inimitable - fraud will be easily spotted if there is good accounting of money and resources
4. Non-substitutable - making sure money is accounted for makes for better spending habits in a business

My Top Resource

My top resource is a steady need for business.  Due to the nature of the business (helping homeless people get back on their feet), there will always be a need in the community.  Whether the economy is doing well or poorly, there will always be people who need a helping hand.  Due to this inevitable fact, there will always be a reason for my business to exist.