23A- Your Venture's Unfair Advantage
1. Perseverance
VRIN: I'm dedicated and refuse to fail. I'm willing to work until everything gets done no matter what challenges I face along the way. Many people don't have this skill and they'd rather give up when it gets hard in order to be stress-free. This skill is inimitable because it comes down to the preexisting mentality of the individual.
2. Social skills
VRIN: I have been great at networking throughout my academic and professional life. People have told me that I'm very convincing. As a natural extrovert, I love having deep conversations with people. These skills will give me an advantage when trying to make deals with partnering companies.
Many people might take an office job over a sales job because they don't like the interaction with people.
3. Marketing skills
VRIN: I have past experience with marketing for a real estate company. I've done digital marketing on the company's website and have created customizable designs to be placed throughout the community. This is an advantage because I'll be able to do the marketing for my company if I want to decrease expenses by not hiring a marketer.
4. Honest
VRIN: I've been honest and trustworthy at every job I've worked. This is an important trait to have as a businessman because people will not want to do business with someone who's dishonest and can't be trusted. Having this trait will lead to more success with business deals. Although it's not a rare trait, you'd be surprised how many people aren't honest in business practices. This can lead to someone getting fired or failing in business, or even legal problems due to illegal activity.
5. Personality
VRIN: My personality allows me to make meaningful relationships that will translate to business. Everyone has had to work with someone who was difficult to work with because of their personality. I'm friendly, optimistic, and hardworking and this has allowed to be an easy-going person to work with. Although this isn't rare, it's important to have someone with a good personality to lead the business.
6. Robotic arm
VRIN: The robotic arm for my self-scanner makes my product differ from competitors. The robotic arm will bag the groceries for consumers which will help make the process of going to the store even easier for them. This is rare because no current self-scanners have this feature.
7. Market awareness
VRIN: I've looked into my target market and I'm aware of consumer needs. Retailers won't need to tell me that my scanner isn't favorable with consumers because I put myself in the position of customers when developing the product. Market awareness is important in an adapting industry.
8. Young CEO
VRIN: With a young CEO the leader makes up for his lack of experience with his drive and determination. Many older leaders will lack motivation as they have already made their money and achieved success. A young leader will make sure the company is innovative and keeping up with new practices in the industry. This isn't rare but many companies don't change their CEO for a younger leader until it's too late.
9. Team culture
VRIN: Although it's not a resource I have now, the culture I plan to implement for my organization will become a driving force in our success. The culture will be inclusive and based on hard work at the core. Team members will be encouraged to work together and try to feed off each other's ideas. Although this is imitable, many companies do a disservice to their employees by having a culture that leads to dissatisfaction across the organization.
10. Experience with sales
VRIN: From experience I was able to improve my selling skills. I can easily convince someone why they might need this product by highlighting the benefits it can bring to their company. This is not rare but it is probably the most important skill to have when you're searching for buyers for a new product.
Top resource : After conducting the analysis, the robotic arm feature for my product is my top resource. This is what will help my product most to differentiate from competitors in the industry. It's an innovative idea that will make lives easier for consumers everywhere. Soon enough, competitors will realize the demand retail customers have for a product like this and will try to imitate it. But by then we will be the leading company in the industry and it will be difficult for them to catch up.
VRIN: I'm dedicated and refuse to fail. I'm willing to work until everything gets done no matter what challenges I face along the way. Many people don't have this skill and they'd rather give up when it gets hard in order to be stress-free. This skill is inimitable because it comes down to the preexisting mentality of the individual.
2. Social skills
VRIN: I have been great at networking throughout my academic and professional life. People have told me that I'm very convincing. As a natural extrovert, I love having deep conversations with people. These skills will give me an advantage when trying to make deals with partnering companies.
Many people might take an office job over a sales job because they don't like the interaction with people.
3. Marketing skills
VRIN: I have past experience with marketing for a real estate company. I've done digital marketing on the company's website and have created customizable designs to be placed throughout the community. This is an advantage because I'll be able to do the marketing for my company if I want to decrease expenses by not hiring a marketer.
4. Honest
VRIN: I've been honest and trustworthy at every job I've worked. This is an important trait to have as a businessman because people will not want to do business with someone who's dishonest and can't be trusted. Having this trait will lead to more success with business deals. Although it's not a rare trait, you'd be surprised how many people aren't honest in business practices. This can lead to someone getting fired or failing in business, or even legal problems due to illegal activity.
5. Personality
VRIN: My personality allows me to make meaningful relationships that will translate to business. Everyone has had to work with someone who was difficult to work with because of their personality. I'm friendly, optimistic, and hardworking and this has allowed to be an easy-going person to work with. Although this isn't rare, it's important to have someone with a good personality to lead the business.
6. Robotic arm
VRIN: The robotic arm for my self-scanner makes my product differ from competitors. The robotic arm will bag the groceries for consumers which will help make the process of going to the store even easier for them. This is rare because no current self-scanners have this feature.
7. Market awareness
VRIN: I've looked into my target market and I'm aware of consumer needs. Retailers won't need to tell me that my scanner isn't favorable with consumers because I put myself in the position of customers when developing the product. Market awareness is important in an adapting industry.
8. Young CEO
VRIN: With a young CEO the leader makes up for his lack of experience with his drive and determination. Many older leaders will lack motivation as they have already made their money and achieved success. A young leader will make sure the company is innovative and keeping up with new practices in the industry. This isn't rare but many companies don't change their CEO for a younger leader until it's too late.
9. Team culture
VRIN: Although it's not a resource I have now, the culture I plan to implement for my organization will become a driving force in our success. The culture will be inclusive and based on hard work at the core. Team members will be encouraged to work together and try to feed off each other's ideas. Although this is imitable, many companies do a disservice to their employees by having a culture that leads to dissatisfaction across the organization.
10. Experience with sales
VRIN: From experience I was able to improve my selling skills. I can easily convince someone why they might need this product by highlighting the benefits it can bring to their company. This is not rare but it is probably the most important skill to have when you're searching for buyers for a new product.
Top resource : After conducting the analysis, the robotic arm feature for my product is my top resource. This is what will help my product most to differentiate from competitors in the industry. It's an innovative idea that will make lives easier for consumers everywhere. Soon enough, competitors will realize the demand retail customers have for a product like this and will try to imitate it. But by then we will be the leading company in the industry and it will be difficult for them to catch up.
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