My Unfair Advantage

Here are 10 resources my business idea has:

1. Established marketplace presence

The fact that almost every student at UF already knows what SNAP is gives my business idea a huge advantage. The name is engrained into the brains of anyone who has ever needed a ride at night. SNAP’s existing niche is therefore extremely valuable and will give my idea an advantage over start-ups. The existing system is rare due to its widespread outreach. It could be imitated or substituted but only with time for students to learn what the new service entails.

2. Pre-existing funding from UF

Considering that the SNAP service costs nothing extra to tuition-paying students, its funding resource is also extremely valuable. I doubt that UF would ever experiment with two different student transportation options simultaneously because that over complicated funding allocation. Therefore, the fact that UF already funds the SNAP program is also un-imitable, rare, and unable to be substituted without sufficient lobbying or advertising from ‘competing’ services.

3. Pre-existing physical assets

My business idea can be implemented fairly easily due to the fact that there are pre-existing physical assets. The multiple vans, drivers, radios, tablets, etc. that are used by SNAP drivers regularly wouldn’t have to be replaced, upgraded, or otherwise changed. Such a low implementation cost is the definition of a valuable, un-imitable, rare, and unable to be substituted idea.

4. Established application and functionality

Though my idea will require that the SNAP application (TapRide) be updated and polished, the disturbance to customers and effort required is minimal. The application is already downloaded by all of SNAP’s users, so it would only take a short update for my interface changes to occur. This idea of offering customers a product and continuously upgrading it isn’t particularly un-imitable, rare, or un-substitutable. Every application on mobile devices is able to completely re-haul their layout. However, since the application is already downloaded and used by so many students, this resource is still valuable.

5. Programmers

I have multiple close friends and one family member that are experienced in programming and coding mobile applications. These include Adam Tache at Duke, Kevin Cai at Boston College, and numerous UF students/fraternity brothers. They would be able to make the perfect SNAP application due to their amassed technological knowledge. Their guidance and skills are valuable, fairly rare, moderately tough to imitate (without years of experience), and substitutable only in the right places (such as other strong academic campuses).

6. Marketers

In addition, I have multiple connections with experienced, young marketers. Examples include Zack Kampf and Phil Barofsky, marketing directors for EnvoyNow and BoxJunkie respectively. These marketing geniuses know how to reach my target audience (students!) and enhance brand image. Similar to the programmers, their guidance and skills are valuable, fairly rare, tough to imitate without experience, and substitutable only in the right type of environment.

7. Student feedback loop

The student feedback I have gotten in regards to my idea has been helpful in guiding its maturity. My idea is all about fulfilling the needs of my fellow Gators for reliable, free transportation. For that reason, the application will include a feature in which users will be able to submit feedback about their ride experiences. This raw, direct feedback will continue to be valuable, un-imitable, rare, and un-substitutable.

8. Driver testimony

SNAP drivers and dispatchers are all UF students as well that quite literally keep the system moving. In addition to the user feedback system, drivers will also be able to input information about their experiences on the clock. This feature will ensure that the core working element of SNAP (the drivers) aren’t ignored. This direct feedback will be valuable, un-imitable, rare, and un-substitutable once received.

9. More satisfied students

Once the student feedback loop and driver testimonials accumulate, I will be able to make proper decisions regarding the future of the SNAP system. Students will respond positively to the reliability enhancements and achieve peace of mind when going out for the night. This increased confidence in the system will keep funding and demand high. There is nothing more valuable than happy customers and achieving this is tough to imitate, rare, and un-substitutable.

10. Motivated agents of change

None of these resources could be utilized and improved upon without motivated agents to influence change. There are numerous students such as myself and students I interviewed who actively avoid SNAP because they know they will be disappointed with the service. However, we acknowledge how awesome it would be if it was functional. As a result, there is a passionate group of people (probably larger than you might think) that would really push for my idea. This 20%, you might call it, is invaluable, un-imitable, rare, and un-substitutable.

It was tough to choose what resource was most valuable to my business but in the end I settled on number one, established marketplace presence. My idea would be tough to articulate and work out the details if I didn’t at least have a present benchmark (today’s SNAP) to compare it to. Not only that, but the demand already exists for the service and will only grow with improvements.