Your Venture's Unfair Advantage

1.  Human Capital: Knowledge of business      
1.  Valuable: I already have experience with business, so it isn't something that I have to stop and learn before I can continue this start-up.
2.  Rare: This is not particularly rare since many people have business knowledge. 
3.  Inimitable: It can be duplicated. 
4.  Non-substitutable: However, there is not really a substitute for knowledge.
   
2.   Social Capital: Wide network of knowledgable people
1.  Valuable: Having a network is very valuable
2.  Rare: While it isn't rare to have a network, the combination of people that are in my network make it rare because there's a small chance of someone replicating my exact network of people.
3.  Inimitable: Even though other people can know the people I know, there is a small chance they will be able to 
4.  Non-substitutable: It is difficult to substitute a network.
   
3. Human Capital: A deep understanding of my own product and how it works
1. Valuable: It is incredibly important to understand your own product. Then, you are able to adapt to the market more easily. 
2. Rare: It isn't rare, but takes time to fully understand a product.
3. Inimitable: It can be imitated, but, again, that takes time.
4. Non-substitutable: There is no substitute for understanding your product.
   
4. Capability: Critical thinking
1. Valuable: Critical thinking is extremely valuable because it's important to be able to think on your feet and solve problems quickly. 
2. Rare: The skill itself is not rare, but this particular critical thinking process is unique to me. 
3. Inimitable: Plenty of people have critical thinking skills. However, not all critical thinking processes are equal. 
4. Non-substitutable: There is not really a substitute for critical thinking or problem solving. It is an important skill to have as a business owner.
   
5. Capability: Strong work ethic
1. Valuable: It is valuable to be willing to work hard to accomplish what you want because it sets you apart from those who won't work.
2. Rare: A strong work ethic is not rare because it is a capability that many people have. However, it is unique to every person.
3. Inimitable: Many people have a strong work ethic so any firm could have it.
4. Non-substitutable: A strong work ethic is not a necessary skill to succeed, although, it does help. There are substitutes for it. 
   
6.  Capability: Interpersonal skills
1.  Valuable: In a world where customer service is highly valued, it is very valuable to be able to work well with others. 
2.  Rare: Interpersonal skills are not rare, since may people work well with others. 
3.  Inimitable: Many people have this capability so it is indeed imitable. 
4.  Non-substitutable: There is not really a substitute for interpersonal skills. You either have it or don't.
   
7.  Capability: Communication
1. Valuable: It is very valuable to be an effective communicator. Otherwise, it is easy to create confusion and uncertainty.
2. Rare: It is not a rare skill.
3. Inimitable: It can easily replicated and learned.
4. Non-substitutable: There is no substitution for poor communication skills.
   
8.  Capability: Adaptability
1. Valuable: To be able to adapt quickly in a market that often changes is an important skill. 
2. Rare: Being able to adapt is not rare. 
3. Inimitable: Other companies can easily imitate this skill. 
4. Non-substitutable: There is no substitute for adaptability.
   
9.  Capability: Teamwork
1.  Valuable: Being able to work well with others is an important skill because it is close to impossible to try maintaining everything on your own.
2.  Rare: Working well in a team is not a rare skill.
3.  Inimitable: It is a skill that can be easily replicated and learned. 
4.  Non-substitutable: There isn't a substitute for being able to work well with others.
   
10.   Capability: Time Management
1.  Valuable: When running a business, time is limited and precious. It is important to be able to manage your time wisely. 
2.  Rare: Time management is not a rare skill. 
3.  Inimitable: Time management can easily be learned and imitated. 
4.  Non-substitutable: There is not substitute for this skill. 

     After conducting a VRIN analysis of all 10 of my resources, I have determined that my top resource is my network. A network that is specific to you is a rare resource and difficult for other companies to replicate. This makes it an incredibly valuable and important resource that needs to be cultivated.