Friday, April 5, 2019

23A- Your Venture's Unfair Advantage

List
-Experience: My venture is run by people who have extensive experience fishing. This is valuable, because it is important to have people who are familiar with the craft this product is designed for. It is rare, because it is not easy to find people who have years of fishing experience. I think this is fairly difficult for other companies to copy because of the years of experience it requires, and no other resources can provide the same benefit as real world experience.
-Business Scaling capability: My venture has the capacity to rapidly upscale and increase production if needed because of product simplicity. This is extremely valuable, because it is important for a business to be able to change quickly. This is rare, because many companies struggle to rapidly upscale or downscale operations. This is difficult to copy, because it takes a level of product simplicity, and it provides benefits no other resource can.
-Product Price Point: My venture has the capability to set our product price point extremely low. This is very valuable, because many customers look at price above all. This is difficult to copy, because products made of other materials will have problems decreasing price. Price point provides benefits that not many other resources can.
-financial capital: My venture has committed investors. This is valuable, because it allows us to quickly finance needed changes. This is moderately hard to copy, because not all companies have the financial capital available to do this, and this is a resource that cannot be substituted.
-Distribution: My venture will be able to distribute my product through multiple platforms. This is valuable, because I will be able to distribute via online or through retail stores. This is not extremely hard to copy today. This resource cannot be replaced by another.
-sustainability: My venture will practice sustainability. This is valuable because of how important sustainability is in today's world. This is difficult to copy, because this is something set up from the beginning of a company's lifespan. This resource cannot be replaced.
-Design: My venture has a product with a unique design. This is valuable, because my exact product is not currently on the market. This is very hard to copy, because design can take years to establish, and this resource cannot be replaced.
-Marketability: My product is extremely simple and easy to market. This is fairly valuable, because products cannot sell without marketing. This is somewhat hard to copy but not extremely difficult. This resource offers benefits that no other can replace.
 -Risk capability: My venture does not have a lot to lose which allows it to takes bigger risks than established companies. This is very valuable, because risks lead to breakthroughs. This is very difficult to copy, because established companies are not willing to take as many risks. This resource cannot be replaced.
-Organizational culture: My venture will set forward a culture of honesty, respect, and friendliness. We will strive to make the work environment stress-free and free flowing. I think this is very valuable, because employees will not be afraid to share opinions/ideas. This is moderately difficult to copy, but the benefits this resource provides cannot be copied.

I think my top resource is my human experience. Experience is something that cannot be replicated, and the years of fishing experience of my venture's team will be extremely valuable to the company as a whole. Since my team will be experienced with the craft my product is designed for, it will be easy for my company to measure my product's effectiveness. Having this experience also allows for my team to better gauge what my customers are looking for, since my customers will have similar interests to my team.

3 comments:

  1. Hi Brandon,
    Your resources, or unfair advantage, present an awesome opportunity for you to succeed as a business owner. Don't take these for granted, instead try to capitalize on them and set yourself even further apart from the competition. Your business idea has a real potential to not only survive, but thrive if you utilize these unfair advantages well throughout your career.

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  2. Hello Brandon, I believe that you did a fantastic job on this assignment. Each of your resources were detailed and helpful. Also with your top resource being your own human experience. As the creator of this company it is inevitable that you play an essential role in what goes on. Keep up the great work and I hope to see you succeed.

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  3. Hey Brandon, I think that you did a great job compiling your resources. It is good to have a very strong list of these characteristics because they are vital to knowing what can separate you from other potential companies. I also liked your top resource and think that that is a very important thing to have.

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