My Venture's Unfair Advantage

3+ years experience in this field.

• Experience is the most valuable resource there is, in my opinion. It's value is high as it cannot be bought, only earned. It is not necessarily rare as there are plenty of sign shops and signage workers out there who have been around longer than I have. It can be imitated but only after three years. It cannot be substituted.

Technical knowledge of how to operate the necessary equipment.

• Technical skills have value no matter what industry you are in. It is somewhat rare I would say due to it being a specialized skill set that has no calling outside of this industry. It is difficult to imitate as the day to day skills needed to operate and troubleshoot the machines can't be learned from the manual (Mostly because it is written in VERY poorly translated English.) It can be substituted if someone has experience running different yet similar equipment and can adapt.

Technical knowledge of design work (What actually works on a sign, what doesn't)

• High value as it is something that will make or break a sign (not physically of course). It is rare as most people do not see the finer details that really tie a sign together. It is not difficult to imitate at my own skill level as I will freely admit I am not the greatest designer in the world. 

Experience with clients, knowing what they need.

• Understanding the customer's needs is very valuable especially when it leads to an up-sell. It is somewhat rare as it takes time and experience. It is difficult to imitate for the same reason as it is rare. There are no substitutions for this skill as without it you are relying entirely on the customers judgement, and when it comes to signage the customer is usually wrong simply due to ignorance.

Human Capital, a network of suppliers established in the industry who have been dealing with me for years.

• High value, having a relationship with all of the cogs that make the machine move is very beneficial, especially at start up. It is not rare as many people have good relationships with their suppliers. It can be imitated with enough time and money spent with a supplier. It can be substituted as all the suppliers I have networked with are more than happy to take on new business, but the sort of technical expertise I rely on them for would be hard to substitute with out the relationship we have.

Approximately $1000 to my name. (Will need financing)

• Its value is approximately $1000. This is only rare due to the fact that most people have more to their name. It can be easily imitated by working full time for low pay and having an apartment and utilities to pay for. It can be easily substituted for more money.

Extensive personal drive to be financially independent and to make my own way.

•  I consider this resource to have a high value because it is one of the main factors that sets entrepreneurs apart from the rest. It is a rare resource as most people I know are more than happy to draw a wage for the rest of their lives. It cannot be imitated because you either have this drive or you do not. It cannot be substituted because if independence isn't your motivation it is unlikely you will be able to see the enormous challenge of entrepreneurship through since drawing a wage is a lot less stressful in most circumstances.

Both of my parents were entrepreneurs at one point or another.

• I would say this is a valuable resource as it allowed me to grow up seeing the process of running a small business from the inside. It is rare because I don't know many other people with divorced parents who ran separate, independent businesses. This resource can't really be imitated as it's a situation you have to be born into. It can be substituted through other entrepreneurial experiences like internships, but even then it is doubtful to achieve the same level of immersion as a child growing up in this type of environment.

Extensive history of getting the needed results without adequate resources.

• Resourcefulness is very valuable, it has saved my bacon on many occasions. I don't think it is a rare trait although many people do not have it. It cannot be imitated as it requires thinking outside of the box, and some people are simply incapable of doing that. It can be substituted by always having the right tools and equipment for the job, but where is the fun in that?

Experience in web design and networking

• This is a valuable resource because my business is web based, and being able to do at least some of the work myself will save money. It is not a rare skill as most of my generation has at least some experience with computers. It can be imitated with a few courses in these subjects and some time spent practicing. It can be substituted by outsorcing the IT work to an appropriate firm, but that requires extra capital.

I would say the most important resource at my disposal is my experience. As I said before, experience cannot be bought, only earned. I suppose anyone could read up on the sign industry, buy themselves a printer and a plotter and go to town, but I doubt they will be successful. This industry, like any industry, requires experience to understand the ins and outs. You cannot afford to make rookie mistakes when you are running your own business.