My Venture's Assets (23A)

1.     Flexible scheduling – Me having a flexible schedule allows this business model to exist in the first place; somewhat rare in a college setting; externalities on other people’s schedule will limit this factor; hiring other people will make this less of an asset.

2.     Cheap labor – Brings down costs and increases profit; extremely rare because only I am willing to accept low pay; would require someone finding workers who are willing to accept low pay; higher prices would achieve the same results but would reduce the amount of quantity demanded.

3.     Niche market – Business model wouldn’t exist without lazy people lacking dishwashers; might not be that rare, but depends on the city; competitors share this asset; no this is fundamental to the business.

4.     Quick startup – I can start generating revenue as soon as possible; from a business perspective, this is very rare; very easy to copy; great marketing efforts may have customers paying for the service in advance.

5.     Low variable costs – the value stems from the high profit margins; from a business perspective, this is very rare; not difficult to copy, unless I start getting deals from vendors; high selling price.

6.     Social media following – back bone of the business model and also helps generate revenue; it is rare; hard to copy; there is no substitute to this strong marketing frontier.

7.     Manual labor – easy to learn how to do and requires little mental capital; not rare; not hard to imitate but people are very reluctant to take on manual labor; no substitute exists for this business.

8.     Customer service – Allows for customers to use the service again; not extremely rare; not too difficult to imitate; it can only be substituted with a resource that brings in new customers regularly, but since the market is limited we shouldn’t pursue it.

9.     Amicable personality – My likeable personality will make surely have customers using the service regularly; extremely rare; very difficult to imitate; can’t be substituted.

10.  No debt – I own all of the company and thus receive all of the profit; very rare amongst bigger businesses; can be imitated with enough initial capital; can be substituted but the business is better off without taking out debt.

My amicable personality is the most important part of the business. Not only does it drive the business’s social media presence increasing revenue, but it also equates to great customer service that will have customers continuing patronage. In essence, it brings in customers and makes them recur. It is also hard to imitate by my competitors.