23A Your Ventures Unfair Advantage

1.     Social Capital: UF Greek Life

I have several close friends involved in Greek life, which is my main costumer pool, so being able to talk to them openly about the product puts me head of competitors

V: it’s very valuable because I will need to have an inside perspective

R: other people have friends in Greek life

I: other people can make friends in Greek life

N: friends are forever

2.     Lack of Competitors:

I’ve spent time in all the establishments in which I would advertise my product in and there are no other services or products like mine

V: Its very valuable to increase my own profits

R: it’s rare that there are no competitors in a field

I: condom vending machine is very easy to replicate

N: -

3.     Social Capital: Knowing the managers

I have made friends with several different bartenders, bouncers, and managers at local bars so I could pitch my product to them in a more casual setting

V: having an inside scoop and a relationship with manager is key to getting my product out in the public’s eye

R: Not many people are as close the managers as I am

I: Since our relationship is so rare it’s difficult to imitate

N: you can’t replace a relationship

4.     Public Speaking:

I’ve taken several public speaking classes in high and college, as well as preformed in front of the entire swamp during football games with the band so I am comfortable in front of crowds and individuals

V: Its valuable to be able to address larger crowds to convince them to buy my product

R: It’s easy to gain experience in public speaking

I: Other people can take similar classes or even the same classes that I have

N: If you don’t have experience then you can have an employee or partner speak for you

5.     Social Capital: relationship with business majors

Being a business major most of my friends are also in business fields, some of my closest friends are marketing and advertising majors that could help me to promote my brand

V: Again, having good relationships with people can help my business get off the ground quicker

R: Other people may also have friendship’s with business majors

I: Friendships can be similar

N: I could buy the services my friends offer me but it would cost me a lot more

6.     Publicity:

Informing the students in the rise of STD rates on campus may make them more willing to use my product

V: truth is the greatest weapon in marketing

R: all information is public knowledge not rare at all

I: there is only so much information about STD so it’s inimitable

N: you can’t substitute the truth unless you falsify information which is not good for your brand

7.     Convivence:

Easy to restore old vending machines to repurpose them for my product

V: saves lots of money to repurpose old machines and vintage can be good for the brand image

R: plenty of old machines at salvage yards

I: easy to copy a vending machine design

N: you can’t substitute a vending machine for anything else

8.     Production: Bulk Purchases

We can buy in bulk to supply all the machines cutting back on the cost to fill the machines

V: Saves lots of money to buy in bulk and can improve profits

R: everyone has access to buying in bulk

I: -

N: we could buy in smaller batches but it wouldn’t be as profitable

9.     Unique product: payable with student ID

What makes our product so different is that you can pay using your student ID so if you don’t have to pull out cash or a credit card to use the machine

V: makes our product unique and it makes it easier for students to purchase condoms while they are out

R: not one else has this capability

I: Other companies can add the ability to charge the price to a student account

N: could use regular form of payments but wouldn’t be as unique of a product

10.   Student Government:

Student government can be a huge asset to promote the use of condom vending machines, my sister's boyfriend is in student government and I’ve had classes with other members and could get their support on the matter

V: If we get the student government to back us then it will be easier to reach the student population

R: other companies can convince student governments to back them

I: -

N: we could network in other areas of the campus and get the backing of other clubs

The most valuable resource I have is all the human capital I have on campus. With the layers of trust I already have with so many people on campus it won’t be hard to convince them to back my product.