23A

WHAT MAKES ME SPECIAL: MY VENTURE'S UNFAIR ADVANTAGE

10 Resources

1. Leadership Experience: Since middle school, I have served as president of two organizations. I was the president of Palm Beach County's National Achievers Society and now I am the president for the University of Florida's first National Black Public Relations Student Society.
Valuable- This can help me as I am building my own business on campus. I have tested myself and seen that I am capable of leading a team.
Rare- I have both experiences and dealing with high school students and college students.
Inimitable- Building my products gives me an advantage because generation Zers who I am closer too, can understand my perspective through the launch of my product.
Non-substitutable- I can understand how exactly to communicate with this audience.

2. Personal Relationships with frequent travelers: At UF's college of journalism and communications, I am surrounded by frequent travelers including professors who constantly win awards and conduct speaking engagements nationwide, and students who do the same.
Valuable- The people I have relationships with and meet each day can help me as in the pre-stages of figuring out how frequent certain age groups travel and why they travel.
Rare- I can figure out the value through conducting a survey before launching the product.
Inimitable- I can do this right in the heart of my college.
Non-substitutable- Everyone has a different story so all findings will not be the same.

3. Public Speaking Experience: In high school, I was chosen to host my school's communications showcase and multicultural show. I always shined bright when it came to public speaking.
Valuable- I will be able to use this when it comes to pitching my product.
Rare- I consider myself an introvert but when it comes to giving a formal speech I am very extroverted.
Inimitable- I will be able to craft a message like no other about why my FlyFrenzy app is the best resource to use when traveling.
Non-substitutable- I can use public speaking as a means of communication when it comes to speaking with my future team.

4. Creativity Skills: Currently as a side hustle, I use Instagram as a platform to showcase my graphic designing and I recently started a youtube channel called The Thrive Guide! (GO SUBSCRIBE)
Valuable- I know how to record and edit videos and I also know how to design graphics.
Rare- Many business owners have to hire people to use digital platforms.
Inimitable- I am a business owner with many traits. Being creative sets me apart from any possible competitor.
Non-substitutable- My skill differs from any general graphic designer or video editor.

5. Social Contact: Airlines Executive: Just this past week,  I met the American Airlines Communications Officer Ms. Lakesha Brown.
Valuable- Lakesha now serves as a mentor for me.
Rare- People usually do not know or meet executives in the airline industry, an industry that is truly male-dominated.
Inimitable- She has been able to explain to me what it's like dealing with customers worldwide and the importance of understanding cultures worldwide.
Non-substitutable- This drives me to learn about cultures if my product launches globally.

6. Fundraising Experience: As an organization's president, I have fundraised for products like shirts and stickers.
Valuable- Fundraising is needed at the beginning of launching my product. It will not be cheap to launch my app.
Rare- I understand the long process it takes to fundraise or find donors.
Inimitable- This skill can not be learned quickly. It took me years.
Non-substitutable- This can be substituted by a treasurer.

7. Publicity: I have contacts with media personnel.
Valuable- As a major in communications, I love having access to people who thrive in media.
Rare- Many people do not work in the media.
Inimitable- People can have contacts with news channels or media executives.
Non-substitutable- This could be substituted by online sources and compiling a list of media contacts. It takes time to build media relationships.

8. Lack of Competitors: There is currently not a product similar to mine.
Valuable- Many airports do not have time clocks or ways to know about TSA times.
Rare- Usually people do not think about TSA times holding them back from missing flights.
Inimitable- While my product is unique now, there can be future competitors.
Non-substitutable- For now there are no competitors and the app can be put together by AI.

9. Personal Relationships with fellow entrepreneurs: I have several ways I can contact entrepreneurs. I currently live with a hairstylist and I have a friend who runs an online podcast where he interviews people who deal with daily issues.
Valuable- I can ask the entrepreneurs I know to use their resources to promote my service.
Rare- Many entrepreneurs are willing to work with additional entrepreneurs. I am looking to help people I know and vice versa.
Inimitable- This can work if people know others who own businesses.
Non-substitutable- This can be substituted with anyone who owns an app already.

10. Social Capital: Student Travelers: I currently live with roommates who own their own businesses and tend to travel often across the world for fun.
Valuable- I can use the people I know as spokespeople who can advocate for my product.
Rare- The people I know are very private when it comes to traveling but they are willing to speak to me.
Inimitable- I can get to learn about the perspectives of others.
Non-substitutable- I can try coming up with additional ideas of how student travelors can help me get my product out to more customers.

After completing this assignment, I realized that my top resource is leadership experience. With years of experience as a leader, I know the value of being understanding, planning and setting goals. I can use these same practices when it comes to leading a team and building my app with a team. Since I am not skilled in building an entire app, this will help me when it comes to communicating what exactly I want throughout my FlyFrenzy app.