23A – Your Venture’s Unfair Advantage

My business idea: Implementing a wireless charging service in all UF libraries, classrooms, surrounding restaurants, etc. that would be compatible with any phone or computer device for a low charge of $3-$5 per hour.

List of my resources:
1) I plan to get funding through a campaign with many students who are passionate about technology. I know a lot of upset library students will pitch in financially to my business plan.
a. Valuable and inimitable, since we have a guaranteed source of money.

2) I have great credit and good standing with UF, so I can take out a loan from the bank or get a sponsorship from UF.
a. Valuable and rare, since we have more financial opportunities and credibility with UF.

3) I have a lot of experience in the tech and business field, from my bachelors/masters degree and previous work experience.
a. Inimitable, since it takes a lot of work and many years to replicate my experience

4) There is a huge market for this service around campus.
a. Non-substitutable because there have to be a large demand to fulfill our supply

5) We will have very experienced employees who know how to install and fix these chargers.
a. Valuable and inimitable because the experience of the workers would be hard to replicate.

6) I am a hard worker and very passionate about making a change and finding a better solution.
a. Valuable but not rare, because every business needs to have a passionate owner

7) I am very capable at collaboration with others to make the business better. This would also include succeeding in customer service if a charger suddenly stops working.
a. Valuable but not rare because it is an easy soft skill to acquire but definitely necessary in the success of any business.

8) This would be a very small cost to UF students and very convenient.
a. Valuable and rare because there are not that many alternatives to charging your devices that is very convenient.

9) The product would be very easy to use for students and beneficial to use, since students can have more time to study without distractions.
a. Valuable and inimitable because students get easily distracted and make a lot of excuses to studying so eliminating those distractions are extremely valuable.

10) The growth potential of this business is tremendous since we have the opportunity to expand it outside of the UF area.
a. Rare and non-substitutable because there are endless opportunities at how far this business can expand.

Top Resource:
- My top resource would be my knowledge about the industry and connections with professional staff at UF. I am getting my bachelor’s in marketing along with my master’s in information systems with a specialization in IT. With this classroom experience combined with my professional experience working at Citrix, a tech company, I am confident that I have a good understanding about the works of tech. I have connections to a lot of professional staff by working as a manager in the UF libraries as well as ambassador of the Department of Student Activities and Involvement and International Programs. By having a good relationship with UF staff, I think they will have my back on whatever business opportunity I take place in.