My Venture's Unfair Advantage

What makes me so special?

Top 10 Resources in my venture

Followed by a VRIN Analysis on each resource

1) Motivation

This human capital resource is valuable because one must have the motivation to actually start a project and do the things necessary to carry their idea out. This trait isn't necessarily rare, because many people have motivation- but,will they actually use it? Motivation surfaces uniquely for each person as it is more ingrained in one's personality, so it is not imitable. There's not much you can substitute motivation for... its either you have the drive or you don't.

2) The ability to see from an outside perspective

This is valuable because I am constantly thinking about what the consumer wants and what they need. This trait is a little more rare because a lot of people starting a business are concerned with what they are doing and what their personal inputs are, and they forget the whole point of their project is to meet the unmet need of other people. This trait is somewhat imitable because all it takes is a perspective shift for people to start looking from the outside in. This is not substitute able because it is imperative you look at your business from an outside perspective.

3) Connections to various non-profit organizations

This is valuable because I want my company to be able to donate proceeds to non profit organizations, and also be involved with them to some capacity. This is not necessarily rare because anyone could technically form a relationship with a non profit business, however it is nice that I have already laid that foundation so it will be easier to partner with them in the future. This is not substitute able. There is no substitute for building a strong human connection with someone that could greatly benefit you in the future.

4) A group of people willing to invest in a start up

This is valuable because it is nearly impossible to start a business without any financial capital. This is not rare because a lot of startups have people ready to invest in them. This is imitable because other companies can request upon people to invest in their business. This could potentially be substituted by my own funding as opposed to having investors.

5) A(some what) prototype

This is valuable because I am able to more clearly able to demonstrate the product I am aiming to create. This is not really rare because many companies begin with a prototype. This is imitable because since the prototype is just temporary, there is no patent and anyone could take my idea at this stage. This could be substituted for a 3D model, or perhaps even the real thing.

6) Personal experience with the unmet need

This is valuable because I will be able to more specifically cater the project to the unmet need because I have dealt with the problem personally. This is somewhat rare because I feel that a lot of people with a business idea do it because they think it is something society needs, but not necessarily something they struggled with themselves. This is not imitable because no body can imitate my own personal experience. This is not substitute able because there is not anything tat can take the place of a personal experience.

7) Diligence

This is valuable because this is the human capital necessary to stick with a project and see it through. This is not rare because many business people have extreme diligent. This is not necessarily imitable because because one cannot copy the work ethic of another, although strategies may be imitable. You cannot substitute diligence with anything... work ethic is essential.

8) People Skills

This is valuable because you will not get anyone to connect with your product if you do not first connect with the consumer. This is not rare because a lot of people in business do have great interpersonal skills. This is not really imitable because it is difficult to copy someone else's human connection with another. This is not substitute able because there is no replacement for human connection.

9) Desire to do more than just make money

This is valuable because it adds another factor to your business in that it is really stewarding to the community more than focusing on profits. This is rare because most businesses aim primarily to make profit (which is important, duh. But you can't lose the community aspect!) This is not really imitable, but I suppose other companies could adopt this same philosophy. This is not substitute able because it is a rare perspective and could not be fulfilled by something else.

10) Eco friendly means

This is valuable because the sustainability of products and our planet is very important and consumers recognize that. This is semi-rare because a lot of companies have developed eco friendly methods, but many companies have not. This is imitable because any company could adopt the same sustainable practices. This is not substitute able because the alternative to being eco friendly is not being eco friendly.

The Top

I believe the most important resource I currently have is my desire to do something more than make money. Granted, this is a pretty loose human capital, it is enough to make a business successful. I believe this mind set will allow me to cater more to what the consumer's want. It will also allow me more time/incentive to invest in non profit organizations to benefit humanity and not just myself. Ironically, by not focusing solely on profit, this will in turn I believe bring in more profit! (hypocritical if nothing else haha).