- Global Experiences: V- This is valuable because I can make important connections and understand global marketplaces. R- This is rare because I am the only person who possesses these exact experiences. I- Extremely hard to copy because nobody has walked in my shoes. N- Only building close relationships with important people around the world can substitute for the experiences.
- Relationships with people in my church: V- This is valuable because I can learn a lot by this group of people and find connections. R- This is rare because not everyone has a place where they can feel free and gain help from other people. I- This is hard to copy by others because not everyone shares the same religion and in this case denomination. N- The only substitutes are joining associations and build good relationships with people that you can trust.
- Cousin: V- This is valuable because he is part of my social capital and is willing help me out whenever I need it. R- Only I have that exact family member. I- This is hard to copy because only my cousin has his set of skills and experiences. N- There are no substitutes for my cousin.
- Communication skills: V- This is valuable because I can use this to build relationships and promote my product. R- This is rare because many people lack sufficient communication skills which could really harm their product placement. I- This is hard to copy because it is built by experiences and learning. N- Nothing can completely replace good relationship skills.
- Being a Finance Major: V- Valuable because I can use my knowledge in this field to help out with my venture's finances. R- Not everyone is a finance major. I- Hard to copy because it requires to take multiple difficult classes and do well in them. N- Reading and learning about finance can be a reasonable alternative.
- Work Ethic: V- This is valuable because having a strong work ethic is one of the most important traits regarding doing pretty much anything effectively and efficiently. R- This is rare because some people lack strong work ethic which derails them from achieving their full potential. I- This is almost impossible to copy because it is something that a someone is born with or really worked on mentally. N- There cannot be a straight substitute for a hard work ethic but some other attributes can yield similar benefits like knowledge on the concept.
- Empathy: V- This is very important when dealing with customers, business partners, suppliers, and employees. R- This is somewhat rare because some people do not have the ability to always be empathetic and they allow minor speed bumps bother them. I- This can be copied by trying to put your relationships before yourself. N- A substitute that yields similar benefits can be by providing exceptional service.
- Financial Stability: V- This is valuable because being financially stable can make way for risk taking which is an important measure when developing a new product. R- There are people out there that struggle to build upon ideas due to the fact that they simply cannot afford to. I- Qualifying to take out a bank loan. N- Having important relationships that can invest in your ideas.
- Social Media: V- Being present on social media is valuable to make connections and promote product. R- This is not very rare but some people do not know how to use social media properly. I- This can be copied by learning how important companies use social media for communication and product placement. N- A substitute can be using the telephone, tv, or newspaper to market.
- Good With Technology: V- This is valuable to have because technology is growing at an alarming rate. R- This is rare because many people have modern technology but do not know how to use it to its full capacity. I- It is hard to copy by others because it requires learning about the certain devices and how to use them. N- A substitute that can yield similar benefits is hiring IT personnel.
I think the most important resource is having a strong work ethic. I believe that having a strong work ethic is the backbone of doing anything.
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