Assignment 23A- Your Venture's Unfair Advantage

Organizational culture

            This resource is not rare or inimitable but is valuable and non-substitutable because               the culture I create within my company can be very unique and important and                         ensure that my employees enjoy producing my product and are just as passionate                 as me.

Creative

This resource is not rare or inimitable but it is non-substitutable and valuable because creative is what allowed me to come up with this product and can help me to create other products in the future to expand.

Outgoing

This resource is not rare or inimitable but it is non-substitutable and valuable. Being outgoing is a great resource to have because that means I’m willing to go out of my comfort zone to take chances or even just speak with people not in my social circle.

My relationships with possible investors

This resource is not rare but is valuable because I can use these relationships to my advantage when it comes time to jump start the production of my product. It is also inimitable and non-substitutable because my relationship with each investor can’t be replicated because of how unique it is.

Good at forming relationships

Although this quality may not be rare or inimitable it is valuable because building relationships is very important not only for my venture but as an entrepreneur. This resource also is non-substitutable because another resource can replace how unique this one is.

Personable

            This resource may not be rare or inimitable but it is valuable because being                             personable allows me to connect with more people and making people like e can                   lead them to like my product. However, this resource can be substituted by another               resource.

Passionate about my product

            I think this resource is rare and valuable because my passion for my product will                   show that I truly care and what I am producing and providing to my customers.                       However, this is not inimitable because anyone can have passion for a product. This             resource is also non-substitutable. 

Received feedback from people in my market

            This resource is not rare but it is inimitable, valuable and non-substitutable because              the feedback I received focused on my specific product and gave me insight on any              changes I might consider making but because anyone can get this same feedback                that is why it is not rare or inimitable.

I know many customers in my target demographic and I am in it

            This resource is rare and valuable because many people behind these vape                          products are older and don’t know or understand how young adults think and act                   when purchasing.However, it is not inimitable or non-substitutable because  I could                just recruit a young adults from this demographic I am targeting and use their                       feedback to understand what they look for in a product.

Open-minded

This resource is not rare or inimitable because anyone can posses this quality. But it is valuable because being open minded is important especially when receiving feedback and criticism. This quality also is non-substitutable because no other trait can take its place.

I think my top resource is my relationship with investors because this alone could help me get my product from just being an idea to actually being produced. Having a relationship with these investors also gives me the opportunity to solicit their help in producing my product.