My Unfair Advantage

Resources My Venture Possesses 

 

1. The surf industry is huge industry and has ample opportunity.

• VRIN - highly valuable, could result in huge financial profits. fairly rare as the surf industry is somewhat still a niche in the large scheme of things. imitatable - this could definitely be copied in other industries. no other industry could really provide benefits for the surf industry outside of it.

2.  A unique approach to fitness with an aesthetically pleasing atmosphere. 

• VRIN - extremely valuable, this new wave of fitness could outperform all current forms of exercise and be the catalyst for many other similar spin offs. That's what makes this resource so valuable is that it is so rare. Assuming I could get a patent on the surf balance training device, this would be very difficult to imitate. The health and fitness industry is huge and I still think that are holes that need to be filled in the demand for various types of exercises. This service could have competition, but I only think that will drive our profits.

3.  A patented pending exercise device.

• VRIN - extremely valuable, this would keep control on the market and allow us to corner a segment of the fitness industry. The patent would keep our class rare as there would be no class just like it. If it was patented, it would be illegal for someone to imitate the product. It would also be non substituteable.

4.  A team of experienced surfers that understand how to transfer the skills over into workout routines.

• VRIN - extremely valuable, this would be key to the success of our idea. Rare, if we partnered with the top athletes in the surf industry. It would not be very easy to copy by others because there are only so many extremely talented surfers.

5. Knowledgeable and skilled yoga instructors.

• VRIN - slightly valuable, not the main focus of the class but an added asset. Not very rare as the yoga industry is so large and rapidly growing. Definitely imitateable and subsitutable. However, out class would aim to implement yoga in a unique way.

6. I live in Newport Beach, CA so am in the hub of the surf industry.

• VRIN - highly valuable, would allow me to get connected to the right people. Rent is pretty damn high so you could say this is rare.

7. I surf daily so know a ton of other surfers that could help spread the word.

• VRIN - valuable, connections are key as well as marketing and advertising. Nothing better than word of mouth and social media.

8. I have access to potential investors through other people who are interested in pursuing this idea as well.

• VRIN - highly valuable, good partners are always important to have. It is rare to have people who are interested and surfing, and have money to invest (more time spent in water than earning for most). 

9. These people not only bring financial benefits, but also athletic knowledge in surfing, yoga, and fitness as well as many connections in the surf industry.

• VRIN - valuable, another added asset to the team. It isn't too rare to have people interested in this combination of activities, so it is fairly easy to put together a solid team.

10. No other exercise class currently uses projections of waves. sandy floors, and surf balance trainers to create an all encompassing experience.

• VRIN - extremely valuable, this is our competitive advantage and is how we want to transcend the fitness industry. This idea is definitely rare as there is nothing like it currently on the market. If we get the proper patents and implement a unique highly enjoyable experience, I don't think people will be able to compete. 

I would definitely say that Resource #10 is most important resource to my venture. It will separate me from everything else currently on the market, and may allow me to start a trend of new fitness products and services.