Entrepreneurship

Wednesday, July 22, 2020

23- Unfair Advantage

  • Generate a list of all of the resources in your venture:

    ·       Financial capital

    ·       Valuable- A need when looking to produce and be able to market and make the products

    ·       Rare-Its something every business needs to survive

    ·       Inimitable- Others can also have financial capital

    ·       Non-substitutable- Others can also have financial capital

    ·       Quality

    ·       Valuable- Masks are quality and will last

    ·       Rare- Rare at a good price, quality usually means more money

    ·       Inimitable- Hand made and thick material

    ·       Non-substitutable- Others can have good quality, but at a higher price

    ·       Designs and colors

    ·       Valuable- Masks are different and customizable

    ·       Rare- Not many masks are available like this

    ·       Inimitable- Different designs are available, cloths and colors

    ·       Non-substitutable-will be hard for others to copy and keep quality

    ·       Fair prices

    ·       Valuable- For everyone who needs masks and works

    ·       Rare- Most masks are expensive, and prices have risen

    ·       Inimitable- Hard to keep high quality and price low

    ·       Non-substitutable- Handmade and safe, hard to copy

    ·       Different Sizing

    ·       Valuable- Masks are different and customizable for kids and others

    ·       Rare- Limited sizes (S,M,L) in normal masks, mine are different

    ·       Inimitable- My masks will be different and not easy to copy

    ·       Non-substitutable- Sizing options will be flexible because of handmade masks

    ·       Social capital

    ·       Valuable- People to sell to and connect

    ·       Rare-A large connection for first customers

    ·       Inimitable-My own connections that can share to their families

    ·       Non-substitutable- Others may have connections as well

    ·       Handmade

    ·       Valuable-More quality and easier to fix mistakes

    ·       Rare-More of a family business and shows dedication

    ·       Inimitable- Most masks are made in factories and have malfunctions

    ·       Non-substitutable-No masks are actually all hand made

    ·       Protective from virus

    ·       Valuable- Needed to access places with others to stay safe

    ·       Rare- Needed to go to restaurants, shopping, most places

    ·       Inimitable- Other masks protect as well

    ·       Non-substitutable- Other masks don’t have filters

    ·       Required in public places

    ·       Valuable-Needed to stay safe and not get the virus

    ·       Rare- everyone needs a mask now in public spaces

    ·       Inimitable-Other masks are available but not customizable

    ·       Non-substitutable-Other masks are available

    ·  At least a Year or two left of production

    ·       Valuable- This virus will be here for a while and people don’t have re-useable masks

    ·       Rare- Usually things are based on trends, this is more of a need

    ·       Inimitable-This is available but not as comfortable for users

    ·       Non-substitutable- Other masks are available but not quality and customizable

    My top resource is having a year or two of production left, which shows the business can prosper. Another top resource is the different sizing which is not inimitable and more comfortable for customers. This will be important for children and elders to be more comfortable and confident when wearing their masks.

Posted by Sophia Pineda at 8:21 AM
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Blog Archive

  • ▼  2020 (30)
    • ►  August (2)
    • ▼  July (12)
      • 28- Exit Strategy
      • 27- Reflection. 3
      • 26- Celebrating Failure
      • 25- whats next
      • 24-Venture Capital
      • 23- Unfair Advantage
      • 22-Pitch 3
      • 21- Reading Reflection
      • 20- Growing Social Capital
      • 17- Elevator Pitch 2
      • 19- Idea Napkin 2
      • 18- Custom Avatar
    • ►  June (9)
    • ►  May (7)
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