23A- What's your unfair advantage

Studio Equipment

This is valuable because the equipment is usually quite expensive and some knowledge is needed in knowing what's the best equipment to get. It is rare because most people do not own the equipment necessary to professionally record. It can easily be imitated. It is not substitutable though.

Human Capital

This is valuable due to the diverse sets of skills on our team. It is rare to have a sound engineer, producer, and videographer in the same local business. It cannot be imitated, unless someone else also has all the skills in comparison, and it is substitutable with other people who have similar skills.

Experience

Experience is extremely valuable because it determines the quality of the work done. It is rare to have a team who is in their 20's and has more than 30 years of experience combined. This cannot be imitated or substituted. This is originality.

Marketing Campaign

The marketing campaign is valuable because it is what will be used to retain customers. It is rare to have producers and people who record your music give you free opportunities and we want to take advantage of that. This can be imitated and it can also be substituted.

Expansion Strategy

The expansion strategy is valuable because it lays out how the company can grow. It is not that rare to have a growth strategy, but it is rare when you have a unique version of one. This can be imitated and substituted as well, but it won't necessarily be exact.

Mentorship

Mentorship is extremely valuable because it provides guided help that often comes with a price if it is coming from elsewhere. It is quite rare and not everybody has it. It is imitable and substitutable, but just like a strategy, it will not be exactly the same.

Diverse Services

Diverse services are valuable because they usually compliment each other. They are rare, because oftentimes you have people who share the same skills, so less comes from it. They are not imitable and they are also not substitutable. They are one of a kind.

Refer-a-friend Program

The refer-a-friend program is valuable because it allows customers to get free items and services just for referring friends. This is somewhat rare in the music industry. It is definitely substitutable and imitable though.


Team Chemistry

Team chemistry is very important because it allows progress to flow much faster and more fluid. This is definitely rare, because some teams do not get along. This is substitutable and imitable though.

Financial Capital

Lastly, this is valuable because it allows a company to get off the ground. The reason it is rare is because not every business starts off with money, it takes years for most to make a profit. It is imitable and substitutable though.


My most important resource is the Studio Equipment. This is because it is a mix of financial capital, as well as experience too. This equipment is essential to starting the business and requires time to learn, master and therefore share with others. I am happy that I already invested in this equipment and I can now use it to help other people bring their music to life. This just has the most tangible value and it is the start to everything, besides the team.