Unfair Advantage
Resources:
1. I have an understanding of basic financial planning through personal investigation of the subject.
V: Yes this skill is valuable, this skill is essential to developing my main product.
R: No this skill is not rare, this skill can be achieved by anyone with time to consume appropriate teaching materials.
I: No this skill is not inimitable, anyone with time to pursue the skill can do so.
N: Yes this skill is non-substitutable, this specific skill set is essential and cannot be replaced with another similar skill set.
2. I have connections with a wealth management firm and its founder.
V: Yes, I can use this connection to model my product after existing financial planning systems.
R: Yes, few people have the direct connection I have to an industry expert.
I: No, if someone out in the work to find quality connections they could probably achieve a similar close connection.
N: No, this connection could probably be substituted by a connection to a well-known author on the subject.
3. I have developed an understanding of the consumer market of financial goods through interviewing various individuals in my area.
V: Yes, understanding who my primary consumers are is important to establishing consistent revenue.
R: No, anyone could replicate my interviews, they would simply need the time to do so and willing participants.
I: No, again someone could easily imitate my interviews, but it would take a while to get a similar picture to the one I have.
N: Yes, having an understanding of the demographics of the consumer base is essential and cannot be substituted.
4. I have connections with a university professor in the IT sector who can advise me on how to structure my online platform.
V: Yes, the information he provides is very valuable to establishing a sustained online presence.
R: Yes, his skill set makes him uniquely able to tackle this challenge, and the advice he gives would normally be expensive for businessmen to purchase.
I: No, you could get the information elsewhere with a different expert in the field.
N: Yes, having input from an IT expert is essential to running an online business, and usually cannot be replicated easily without direct input from a professional in the field.
5. I have conducted entrepreneurial ventures in the past, giving me experience in this area.
V: Yes, experience starting a business helps me be more efficient and effective with my resources when starting a new venture.
R: Yes, few people have actually started small businesses that they run by themselves.
I: No, someone with the willingness to do so could start a small business or two and gain experience.
N: Yes, the value I achieved from learning basic business set up cannot be replicated through other means.
6. I have always been a confident public speaker and have delivered a number of speeches throughout my life.
V: Yes, the ability to concisely state my ideas without being nervous is highly valuable in investor interactions.
R: Yes, public speaking skills are difficult to develop if you are not already unafraid of performing in front of large crowds, but can be developed over time.
I: No, many people have good public speaking skills.
N: Yes, the ability to convey my purpose and my belief in my product's success to investors and consumers is not susbstitutable.
7. My skills as a debater give me the chance to think of answers and solutions off the top of my head.
V: Yes, if an investor asks me an unusual question I can probably give a fluid response, showing me as knowledgeable on the subject.
R: No, skills at debate are very common, but often take practice to achieve.
I: No, anyone with the willingness to learn can become a good debater and think on their feet.
N: No, with enough knowledge about a subject, the need to think on your feet for an answer is diminished since you probably have an answer ready for the scenario in question.
8. As a younger person, I have a high familiarity with what is good website layout versus what is bad design.
V: Yes, I can structure my website to be more visually pleasing and appear more knowledgeable on the subject of financial planning.
R: No, many people are my age and innately know good web design over bad ones.
I: No, someone with the time to research the subject could learn to recognize good web design over poor ones.
N: Yes, ensuring that my website looks credible is essential to offering quality expert material to consumers.
9. My personal investment in the subject of financial planning helps me understand the current pricing market on such products.
V: Yes, I know how to price my products to be competitive in the current market.
R: No, someone could look up popular financial literacy resources and determine the average price.
I: No, someone could easily develop this skill over the course of a few days and with a reliable search engine.
N: Yes, knowing how to price my product is essential to forming a viable revenue model.
10. Additionally, my personal experience with financial literacy products helps me see where potential innovations in the subject exist.
V: Yes, if I can provide a product that is unique in this market I can achieve above average returns until copied.
R: Yes, few people have invested an equal amount of time in the subject to understand what material can be adapted for the modern age.
I: No, someone could develop the same sense of how to adapt the market for today's consumers, but it would take them a while.
N: Yes, knowing how to innovate in my product is essential to separate my product from existing, reliable materials within the field.
Top Resource: I think my top resource comes from my connection through my family to a professor in the IT field at UCF, because the advice he gave me on my idea and could continue to give me is invaluable to someone setting up an online business, and I could also use this connection to find prospective IT talent to hire for my business and make everything run smoothly on the logistics side. Having good financial resources is key, but ensuring that my website runs properly and can withstand a heavy consumer base is essential for scaling upward.
1. I have an understanding of basic financial planning through personal investigation of the subject.
V: Yes this skill is valuable, this skill is essential to developing my main product.
R: No this skill is not rare, this skill can be achieved by anyone with time to consume appropriate teaching materials.
I: No this skill is not inimitable, anyone with time to pursue the skill can do so.
N: Yes this skill is non-substitutable, this specific skill set is essential and cannot be replaced with another similar skill set.
2. I have connections with a wealth management firm and its founder.
V: Yes, I can use this connection to model my product after existing financial planning systems.
R: Yes, few people have the direct connection I have to an industry expert.
I: No, if someone out in the work to find quality connections they could probably achieve a similar close connection.
N: No, this connection could probably be substituted by a connection to a well-known author on the subject.
3. I have developed an understanding of the consumer market of financial goods through interviewing various individuals in my area.
V: Yes, understanding who my primary consumers are is important to establishing consistent revenue.
R: No, anyone could replicate my interviews, they would simply need the time to do so and willing participants.
I: No, again someone could easily imitate my interviews, but it would take a while to get a similar picture to the one I have.
N: Yes, having an understanding of the demographics of the consumer base is essential and cannot be substituted.
4. I have connections with a university professor in the IT sector who can advise me on how to structure my online platform.
V: Yes, the information he provides is very valuable to establishing a sustained online presence.
R: Yes, his skill set makes him uniquely able to tackle this challenge, and the advice he gives would normally be expensive for businessmen to purchase.
I: No, you could get the information elsewhere with a different expert in the field.
N: Yes, having input from an IT expert is essential to running an online business, and usually cannot be replicated easily without direct input from a professional in the field.
5. I have conducted entrepreneurial ventures in the past, giving me experience in this area.
V: Yes, experience starting a business helps me be more efficient and effective with my resources when starting a new venture.
R: Yes, few people have actually started small businesses that they run by themselves.
I: No, someone with the willingness to do so could start a small business or two and gain experience.
N: Yes, the value I achieved from learning basic business set up cannot be replicated through other means.
6. I have always been a confident public speaker and have delivered a number of speeches throughout my life.
V: Yes, the ability to concisely state my ideas without being nervous is highly valuable in investor interactions.
R: Yes, public speaking skills are difficult to develop if you are not already unafraid of performing in front of large crowds, but can be developed over time.
I: No, many people have good public speaking skills.
N: Yes, the ability to convey my purpose and my belief in my product's success to investors and consumers is not susbstitutable.
7. My skills as a debater give me the chance to think of answers and solutions off the top of my head.
V: Yes, if an investor asks me an unusual question I can probably give a fluid response, showing me as knowledgeable on the subject.
R: No, skills at debate are very common, but often take practice to achieve.
I: No, anyone with the willingness to learn can become a good debater and think on their feet.
N: No, with enough knowledge about a subject, the need to think on your feet for an answer is diminished since you probably have an answer ready for the scenario in question.
8. As a younger person, I have a high familiarity with what is good website layout versus what is bad design.
V: Yes, I can structure my website to be more visually pleasing and appear more knowledgeable on the subject of financial planning.
R: No, many people are my age and innately know good web design over bad ones.
I: No, someone with the time to research the subject could learn to recognize good web design over poor ones.
N: Yes, ensuring that my website looks credible is essential to offering quality expert material to consumers.
9. My personal investment in the subject of financial planning helps me understand the current pricing market on such products.
V: Yes, I know how to price my products to be competitive in the current market.
R: No, someone could look up popular financial literacy resources and determine the average price.
I: No, someone could easily develop this skill over the course of a few days and with a reliable search engine.
N: Yes, knowing how to price my product is essential to forming a viable revenue model.
10. Additionally, my personal experience with financial literacy products helps me see where potential innovations in the subject exist.
V: Yes, if I can provide a product that is unique in this market I can achieve above average returns until copied.
R: Yes, few people have invested an equal amount of time in the subject to understand what material can be adapted for the modern age.
I: No, someone could develop the same sense of how to adapt the market for today's consumers, but it would take them a while.
N: Yes, knowing how to innovate in my product is essential to separate my product from existing, reliable materials within the field.
Top Resource: I think my top resource comes from my connection through my family to a professor in the IT field at UCF, because the advice he gave me on my idea and could continue to give me is invaluable to someone setting up an online business, and I could also use this connection to find prospective IT talent to hire for my business and make everything run smoothly on the logistics side. Having good financial resources is key, but ensuring that my website runs properly and can withstand a heavy consumer base is essential for scaling upward.
Hi John. It seems like you have quite a few advantageous resources. The skills and knowledge that you have acquired are great resources, and ones it is important to not overlook. I agree that your family connection to the professor is probably your top resource. However, you seem to have several great resources. Great post, John!
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