My Venture Resources

1. Organizational Structure - One of my resources that allows me to keep costs low is the fact that I would have a virtual system, where I could do all of my work at one headquarters as all of the information is sent in online and we create our custom workouts online. This allows for all of the physicians and people who create the plan to be in one location, or even work from home and send it to them, so we can keep costs low and not have to have multiple facilities.

Valuable - It’s very valuable because low costs mean higher profit margins.

Rare - I would say its moderately rare. Big companies like Walmart, Sam’s, and others are able to keep costs low because of their economies of scale, but its not like everyone does it.

Imitable - Again, moderately imitable. Some companies all work online and it allows for low costs, but it is not very common

Non-Substitutable - There are other ways to create the same benefits, so it is somewhat substitutable.

2. Social Capital - I plan on hiring well trained physicians and experienced trainers, and the combination of the two would allow them to have a bigger advantage over just one personal trainer in the market. By working with a team rather than one just trainer, they can come up with more personalized and better workout plans that fit our consumers better.

Valuable - Valuable, as it will create better workout plans.

Rare - This is rare in the market, as most trainers dont have the ability of licensed physicians with them to create plans.

Imitable - Hard to imitate, as the algorithm we use will be based solely off of knowledge by experts in their field.

Non-Substitutable - There are other ways to get good workout plans, just not as fast and well done as ours, so hard to substitute.


3. Financial Capital - I have enough financial capital saved up from working that I can finance a significant chunk of my business, allowing me to start right away and have less investors to please and take the company my own direction.

Valuable - Valuable because I can control the company and remain private.

Rare - Rare because most people have to cater to investors, so its an advantage to be able to bring the company my own direction.

Imitable - Not hard to imitate, many rich people or any with lots of money can start up their company.

Non-Substitutable - Hard because you either get financial capital through yourself or through investors, so hard to imitate.

4. Availability of Product - The fact that we create all workout plans through an app and send it to them so they can have them whenever they need them gives my product a huge advantage. This takes out the long process of meeting with a trainer and determining what you want to workout and how you’ll get there.

Valuable - This is valuable because it allows consumers to have their plans at their fingertips whenever they need it.

Rare - This is rare because often times it takes an hour or two to meet with a trainer and have them give you a plan.

Imitable - Not easy to imitate because it requires the same business model as mine, which as to my knowledge has not necessarily been done.

Non-Substitutable - There are other ways to get the same benefit as always having your workout plan, yet none would be constantly updated without having to meet with a trainer as mine.

5. Human Capital - I have very good social skills and work well with other people, motivating them and also directing them in the right direction. I’m vice president of my fraternity and have attended various leadership workshop seminars.

Valuable - This is valuable because it allows me to promote teamwork and cooperation throughout my organization.

Rare - This is not rare at all, as many people have good social skills.

Imitable - Not hard to imitate

Non-Substitutable - There are also many ways to get the same benefits from social skills than just one.

6. Human Capital - I’ve worked extensively in the field of marketing, having an internship at a startup last summer, working on the marketing team for a charity this semester, as well as helping PR with a campaign. This gives me an advantage starting up our marketing department, which will be key separating ourselves from other workout apps.

Valuable - This is very valuable because it can help set me apart in the fitness industry.

Rare - Its not rare to have a good marketing department, most successful firms have to have one to do well.

Imitable - Its easy to imitate because many people can get marketing experience at our age, getting internships or having the right degree.

Non-Substitutable - There are very few other ways to get good marketing experience other than working directly in the field or studying it at school, so its hard to substitute.

7. Social Capital - I’ve built a lot of relationships at UF both related to working out and through the business school. As I spend more time here I plan on developing more which can help my business grow.

Valuable - This is valuable as I start to grow my company and look for relationships with other companies. They can help market my product and refer others to it as I do the same for theirs.

Rare - This not very rare as almost anyone who goes to UF and works in the business school will develop these relationships.

Imitable - Relatively easy to imitate, as anyone who graduates a large school will automatically be able to use that degree to their leverage.

Non-Substitutable - Hard to substitute, as there really is only one way to get the UF connections.

8. Public Speaking - I’ve had to give multiple speeches both in high school and for my organizations in college, sometimes in front of hundreds of people. This will help me motivate my employees and gives me more confidence being a face of a company.

Valuable - Valuable because it can help me serve as a figurehead of the company and lead others and motivate them.

Rare - Not a particularly rare skill as many people take classes or give speeches to gain this ability.

Imitable - Not hard to imitate as many people go through these courses and all top level executives and leaders must be comfortable speaking publicly.

Non-Substitutable - Hard to get the same benefits of public speaking than simply giving speeches, although some leaders can be the face of the company by simply doing actions rather than talking.

9. Relationships - I have a lot of people helping me with this product, which gives me a lot of different fresh perspectives on my product and allows me to see how different types of consumers would be interested.

Valuable - This is valuable as new perspectives on a product are always appreciated because it makes you consider all options for it.

Rare - Not very rare, most companies have a whole team of employees working on a single product.

Imitable - Not hard to imitate, just get multiple people working on the product at once.

Non-Substitutable - Easy way to get multiple perspectives on a product, just needs to be sent to multiple team members so it’s easily substitutable.

10. Adaptability - I’ve taken various leadership courses here at UF as well as been a leader in a Greek Fraternity when times are changing. I’ve had to make decisions that eliminate old traditions and keep us alive, which directly correlates to running organizations well.

There will be times I must eliminate old products or try a new one, and must be able to adapt.

Valuable - This is very valuable because, especially in a market with technology, a company must always be ready to change direction.

Rare - This is somewhat rare, as many companies get stuck in their own product and never really look at the long term.

Imitable - I believe adaptability is a relatively rare quality and hard to imitate, not many people have it. Jeff Bezos is only as wealthy as he is because he thought years in the future and changed to what the market will be.

Non-Substitutable - There are many ways to be able to adapt to certain products, so I would say its relatively substitutable.