Your Venture’s Unfair Advantage

1)      Access to an MLS system. This is valuable because it provides access to real estate prices. It is rare because not everyone has access to it, and you must pay to use it. It is very hard to copy by others and while there are other ways of getting this information an MLS system is the best way.

2)      Market Experience. This is valuable because it provides the basis for the business and service I am trying to provide. While it is not rare and substitutable, it is still very valuable which outweighs the others.

3)      Real Estate experience. This is valuable because it is required to be successful in the real estate market. While it is not rare and can be copied it is not very substitutable. This value provides an edge and knowledge over those that are uneducated in real estate.

4)      Networks. This is extremely valuable and can be rare. This is hard to copy by others and there are few benefits that can make up for a strong network. This is an extremely valuable resource to have since there are many advantages to having a big social and business network.

5)      Formal Education. This is very valuable because it provides knowledge that can’t be obtained elsewhere. It is also rare, inimitable and non-substitutable.

6)      Real Estate License. This is very valuable because it allows one to buy/sell real estate as an agent and access to a MLS system. It is somewhat rare but not that hard to copy as anyone that is 18 can get one. This is a very non-substitutable resource because there any not many other licenses that allow you to do this.

7)      Building Experience. This is very valuable but not rare or hard to copy. But it is very hard to substitute. This value greatly enhances my ability to be successful in my venture idea since it is predicated around building and selling and a knowledge in building.

8)      Business Experience. This is valuable because it provides knowledge with the business side of my venture. However, it is not hard to copy, rare, but it is hard to substitute for something equally as important.

9)      Business Contacts. This is very valuable because I have owners of companies, I can contact that will provide me information or be able to advise me on work. This is not a necessarily rare or hard to copy resource however there is not good substitute for it.

10)   Perseverance. This is probably one of the most valuable attributes to have in entrepreneurship. This is a trait that other people can have but they don’t necessarily possess ion their own. There are not many other things that substitutes true perseverance.

I believe that my top resource is my network that I have. Between business owners, entrepreneurs, and business professionals I have a full circle of resources that can provide me with information at every stage of my business venture and is the key to being successful.