My Venture's Unfair Advantage

Resources in my venture:

- Kitchen space (space to prepare meal kits)

Valuable: Yes, this resource is valuable as it would be impossible to work without a space to do so and would be an expensive start up cost to have to rent right away. 

Rare: No, many people could reproduce this in any space.

Inimitable: No, others could model their work space after ours and customers would not notice.

Non-Substitutable: No, many kitchen areas would work just the same.

- Extensive equipment to prepare meals (Stand Mixers, full knife set, cutting boards, oven, sink etc.)

Valuable: Yes, this resource provides an advantage for work because I could avoid purchasing most equipment up front and this would decrease start up costs.

Rare: No, most equipment is standard for a kitchen, or at least a commercial kitchen space.

Inimitable: No, others could purchase the exact equipment I have access to. 

Non-Substitutable: No, much equipment would work the very same.

- A spare refrigerator to maintain freshness in food

Valuable: Yes, this resource is necessary to house food during preparation as well as before distribution. It would allow food preparation that is perishable (and thus worth more to customers)

Rare: No, plenty of people could purchase fridges.

Inimitable: No, a competition could purchase the exact model I have.

Non-Substitutable: No, most fridges work the exact same. 

- A few thousand dollars to begin the investment

Valuable: Yes, this would cover some start up costs before involving investors or loan repayment.

Rare: No, cash is not rare

Inimitable: No, cash is easily replaceable

Non-Substitutable: No, cash can be substituted very easily. 

- Relationship to my local Costco Warehouse bulk order coordinator (from previous assignment, Jason Miller)

Valuable: Yes, a relationship with a supplier for my industry would allow awareness of any upcoming deals or good times to purchase supplies. 

Rare: Yes, not everyone would have this relationship prior to placing orders.

Inimitable: No, people could work to build a contact for this purpose. 

Non-Substitutable: No, plenty of businesses could work to strengthen these relationships and thus make it a worthwhile business decision.

- A family friend who works as a Registered Dietician

Valuable: Yes, this contact She will be incredibly helpful in organizing menus that reflect dietary guidelines and restrictions as well as communicating this information to customers in the way of nutrition information.

Rare: Yes, this contact is usually something that would need to be paid for as a consultant, and likely go through a company with higher fees. My personal  relationship would keep this cost low, although eventually I would hire her as an independent contractor for her work. 

Inimitable: Yes, her expertise could be exclusive to my company if we were able to hire her full time. 

Non-Substitutable: No, there are other dietitians that could be hired to do similar work with similar training for another organization.

- My mother’s experience in catering and her ServSafe certification

Valuable: Yes, this certification is both necessary for business but practical. Her existing knowledge gives us a head start on safe kitchen practices. 

Rare: Yes, most people do not have this certification and knowledge. It requires extensive training and a course. 

Inimitable: No, competing business owners could register for this course on their own merit. 

Non-Substitutable: No, in other states there may be similar courses or a competing business could hire someone else with this certification. 

- Multiple personal friends who are experienced in food preparation and would work with me

Valuable: Yes, I feel that I have a group of people to work with that have strong cooking skills which would allow me to delegate efficiently and avoid extensive training.

Rare: Yes, 

Inimitable: Yes, many of my friends have worked in restaurants and have specific knowledge that is unable to be replicated

Non-Substitutable: No, likely someone else could hire staff with food preparation experience.

- A team of strong individuals that handle customer service with grace and professionalism. A group that overwhelmingly impresses customers with great service.

Valuable: Yes, this service encourages customers to purchase with us.

Rare: Yes, plenty of restaurants or food service businesses have mediocre or poor service.

Inimitable: Yes, once personal relationships are established with customers competitors will be hard pressed to undermine them.

Non-Substitutable: Yes, customers that have a personal relationship with us will want to continue out of loyalty to our organization.

- Relationships with farmers at my local farmers market who could provide fresh, mostly organic, ingredients and support local businesses

Valuable: Yes, this connection to the community will encourage customers to purchase with us because of the quality they can expect from our organization.

Rare: Yes, it is uncommon for businesses to prioritize local produce because it is often more expensive.

Inimitable: Yes, it would be difficult for a competition to undermine the relationship that I have with specific farmers. 

Non-Substitutable: No, it would be absolutely possible for another business to do something similar and prioritize local suppliers to support with their business. 

- I drive a large SUV that could be used for deliveries before needing to upgrade to commercial vehicles

Valuable: Yes, avoiding this expense right away would allow me to turn profit while the business is very much growing. 

Rare: No, many drivers own large cap vehicles. 

Inimitable: No, someone could purchase my exact SUV to use. 

Non-Substitutable: No, many large cars would serve this exact purpose. 

- I previously worked in a large office building of professionals (my ideal demographic). I have many contacts in the building and likely could encourage my marketing with these resources. 

Valuable: Yes, this connection offers me a unique marketing opportunity as I understand their current habits and tendencies. 

Rare: Yes, I have specific office complexes in mind that a limited number of people have worked at. 

Inimitable: No, others in the building could also form contacts to capitalize on this market. 

Non-Substitutable: No, others could utilize this tactic and replicate it with their own contacts. 

My top resource appears to be my focus on creating a culture of exceptional service. This model has been successful with organizations such as Chick Fil A, who provide good food but with exceptional service. This model seems to serve organizations by building a loyalty that will withstand a competitors attempts at replication. Many of my resources, specifically physical resources, seem to be an advantage in that I could avoid many start up costs associated with my business. These resources eventually would be out grown and would be easily imitable by others, it would simply be expensive for someone to purchase all of these things outright.