Sunday, July 17, 2016

My Unfair Advantage

1) Creative
V: Valuable in the sense that I can make my app different and interesting, while also being familiar and relatable to the users.  I come from a family of musicians and I myself compose on a daily basis.  Granted, creating music is different from creating an app for athletes to find other athletes, but the same inherent ability to think outside the box is still there.
I: Creativity can be copied in a sense.  It's called plagiarism, copyright infringement, etc.
R: Somewhat rare.  Some people are creative, and some aren't.
N: No substitute for being creative.

2) I know a guy
V: This is very valuable.  I have a couple friends that are familiar with app designing, which is precisely what my service is.
I: Can be copied if you know the same guy, I suppose.
R: I don't really know if this is rare or not.  You either know the right people, or don't.
N: I don't think there is any substitute for knowing the right people. Networking is everything.

3) Education
V: There is value in being educated. There better be, this degree is expensive.
I: This can be copied.  Many people go to college.
R: Not that rare.  40% of Americans are college graduates.
N: There is a substitute: self-education. 

4) Determined
V: Very valuable. Instilled during my time in the Marines. Don't stop until the job is done.
I: Can't copy determination exactly, but it can be easily confused and conflated with motivation.
R: Somewhat rare.  I see people quit on a lot of things too quickly.
N: No substitute for embracing the grind and doing what needs to be done via sheer will.

5) Cultured
V: I have lived in 10 different countries. Valuable in regards to international user compatibility.
I: You can't copy an understanding of the cultures and customs of a region.
R: Somewhat rare. Many apps are region specific.
N: There is no substitute for having a high sense of cultural awareness and perspective.

6) Computer/Technology savvy
V: Very valuable, considering my service is an app for Apple and Android devices.
I: This can't be copied, but learned. Although, I've spent my whole life around games, computers, and electronics so this is second-nature to me.
R: Somewhat rare, maybe.  I know plenty of people that still don't know how to drag files to their desktop, or even copy and paste.  Seriously.  Cntrl+C Cntrl+V.
N: The only substitute for this is if you have a partner going into the business that can handle all the techno stuff.  But if your idea is an app, you should be familiar computers, phones, internet, etc.

7) Original Idea?
V: I put the question mark because while there is no app on the market like mine, it can be said that no idea is truly original any more.  Originality can sometimes be valuable.  But original does not always mean good.
I: The idea can be copied.  Heck, I sort of got this idea from Tinder.  Just replace the local singles with athletes, and you have a new app.
R: If every idea is based upon someone else's idea, I'm not entirely sure how rare it is.
N: Your idea can't be substituted because that's what your business adventure is based on.  Without it, you couldn't move forward.  Unless, of course, you substitute it with a new idea entirely.

8) Financial Capital
V: Very valuable.  I have a grandfather that loves helping family that want to help themselves.  If I pitched him this idea and he thought it could be successful, he would fund it in a heartbeat.  I wonder how many great services or products never made it to the market because the entrepreneur didn't have the resources to get it started.
I: You can't copy money... I mean you can, but then the FBI would come after you.
R: Somewhat rare.  Everyone has money troubles in some form or another.
N: No substitute for access to financial resources.

9) Work well under stress
V: Extremely valuable.
I: It would be difficult to copy this behavior. You could, however, grow accustomed to it.
R: I think this is somewhat rare.  I witness too often people buckling under pressure.
N: I don't think there is a substitute for working well when s*** is hitting the fan.

10) Social Support
V: I have a family of very smart people: doctors, physicists, writers, etc. Sometimes just having smart people offer advice and support can be very valuable.
I: I suppose you could hire a group of advisors from various backgrounds, but there is no personal commitment there like there is with a family.
R: Who knows, every family is different.
N: Each individual is unique and offers their own unique perspective, so this isn't substitutable to me.


I think the most important resource I have is my grandfather's financial support.  So many great ideas can't even get out there because the originator doesn't have the funds to get it going.  I mean, I can be educated, cultured, and work well under stress all I want, but if I don't have the funds to kick-start this idea into motion, it simply isn't going to happen.



3 comments:

  1. I agree funding is something that is very rare, and the lack of it prevents several business ideas from being launched. It is also a strong skill to work well under stress. That strength bears nurturing and development. It is indeed rare and can get you ahead. International travel gives you a keen understanding and perspective of people and experiences as well.

    ReplyDelete
  2. You did a great job outlining this assignment and making it easy to see how you hit each point. I laughed pretty hard at your second point – “I know a guy,” though I get what you meant, haha. You sound like you have some good resources that can start your venture! Unlike you, I would put determination higher up on the list as I feel many people have great ideas, but lack the determination to do anything with it.

    ReplyDelete
  3. A lot of your ideas for "unfair adavantages" are relatively similar to mine, and I think that indicates we view things in the same way, at least in terms of what we find important in business and what it takes to be successful. I like that you mentioned the computer/tech savviness as an advantage, because your concept couldn't exist without that skill.

    ReplyDelete