My Unfair Advantage

1.     Human Capital

2.     Social Capital

3.     Financial Capital

4.     Community Support

5.     IT Support

6.     Advertising Knowledge

7.     Marketing Support

8.     Location Appeal

9.     Market Appeal

10. Student Support

V.R.I.N. (Valuable.Rare.Inimitable.Non-Substitutable)

1. Human Capital: My own human capital is important because with my tenacity, focus and positivity, I can move this idea into a community that will help students in their hungry times of need. I believe this opportunity is a rare one that can be utilized for students especially in a college campus. It is inimitable and non-substitutable because it allows for the sharing of ideas and gives helpful food support for students on campus that cannot access food while studying for their arduous classes.

2. Social Capital: My social capital has allowed me to meet up with IT specialists, marketing directors and overall influential people that can help propel the business forward. My own social capital is rare because, as told by many of my peers, I am very genuine, and my intentions reside within helping the community, rather than profiting off from others—although having a great return on investment would be remarkable. My social capital is inimitable and non-substitutable because I will be able to provide a genuine trust to my clients and partners; I will assure them that they are in good hands and vice versa.

3. Financial Capital: I am blessed with not only working in a lucrative side job as a student, but I am also supported by my parents. I believe in taking risks in life, and I know that with any business venture, if the reward is great enough, the risk is worth it.

4. Community Support: I am blessed to be a part of the Greek community, which is why I believe that they would play a supportive role in making the app a success. This is a rare opportunity because the Greek community is a huge portion of the student body on campus. Plus, word spreads if something is interesting, and I believe this app will be interesting enough for consumers to try because it is the first of its kind, and it incorporates more than just one restaurant where an individual can order from.

5. IT Support: With the help of my connection, I will be able to possibly utilize SEO (or Search Engine Optimization), create a website, etc. for my app idea. This is rare in the sense that I will be able to hit all the marks (website, app, etc.), and this would be able to create that “food community” feeling/vibe I was reaching for.

6. Advertising Knowledge: As advertising majors, we are trained to understand that researching our consumers/target audience is key to product success. I think this is rare because this skill combined with my entrepreneurial spirit makes me, if anything, an interesting candidate for a business partner.

7. Marketing Support: With the help of my connections, I will be able to partake in a marketing plan with my marketer. I believe this is rare because I will be able to provide valuable insight from an advertising perspective.

8. Location Appeal: Being in a college atmosphere, we are surrounded by students from all different backgrounds, but we all have one thing in common: we get hungry. If you drive down Archer, there’s a plethora of different restaurants attempting to appeal to the “college town.” I believe that this app would represent a unique opportunity for businesses in the area to increase their revenue and possibly even save revenue.

9. Market Appeal: The market appeal is there because students get hungry all the time.

10. Student Support: As a community based app, this would allow students to feel closer to their peers and interact with them through this way. Plus, it would greatly help studious individuals, especially if they’re studying their hearts out but no car to help their stomachs.

REFLECTION:

I believe all the components fit together, but I definitely think the social capital, IT support, Marketing support and overall logistical key items are the crucial components of this whole thing. In order for the app to be a success, one needs a good team of people.