Your Venture's Unfair Advantage - Assignment 23A

Resources I Possess:

1. Organizational Skills

Being organized is a very valuable trait to have when starting your own product line. Not very many people who set out to develop their own company are very organized, instead they have to hire people to keep them organized and I do not, giving me a slight edge. However if the other entrepreneurs out there do hire someone who is just as organized, it can be inimitable. If you are not organized though, you are disorganized and that can be non-substitutional.

2. People Skills

Having people skills is also very valuable. If you cannot handle people well, it is hard to be successful at getting people on board with your product. It is usually not rare in running a business though, since profit and income are dependent on people. Having people skills can be copied, but is not easily substituted- you are either good with people or you are not.

3. Access to Finances

This is definitely valuable in starting your own product line, however money and finances are not rare. Everyone has it or can come by it, making it inimitable. Money is money and can be substituted by others.

4. Only Makeup Overcoat

Valuable and rare since my product is the only one out there that is a waterproof overcoat, not just waterproof mascara. In order to stay that way I would need to work on a patent that would make sure others could not imitate it. However my product could be substituted by waterproof mascara or regular mascara.

5. Mom With Connections

Having a mother who knows a lot of different people in different markets is definitely valuable. Not very rare though, because most moms are sociable and know a lot of different people. Other people could copy me by seeking out the connections their mothers have. However, they probably do not have the same connections.

6. Makeup-Expert Friends

I have multiple friends who are very up to date in the makeup world, making this a valuable resource to have. It might not be very rare though because makeup is a pretty popular thing right now. Others cannot copy me unless they have the same makeup-savvy friends. It may be substituted by their own makeup savvy friends though.

7. Potential Customers

Having customers already set up to buy my product is very valuable. It is not very rare since there are customers everywhere. Others cannot copy me since I already have them as my potential customers. They can be substituted by other customers who will buy it though.

8. Support System

Having a support system, both financially and mentally, is very valuable and rare. No one can copy my own personal support system that consists of my friends and family, but it can be substituted by other forms of support.

9. Makeup Suppliers

Those who will buy my product and sell them for the company they work for is also very valuable and rare. Since my product is unique, they will also be the only ones to carry my product to sell. This makes it hard for others to copy. It could be substituted by others who wish to sell my product in their stores.

10. Travel-size Option

This is valuable for my customer market, giving them options about the size of my product they can buy. This is rare because I do not think there is any kind of mascara that comes in travel size- waterproof or not. This can probably be copied, but only after my product is the first out there. Again, people could use normal sized mascara or waterproof mascara, but then they would face the possibility of wasting some.

Most Valuable:

My unique waterproof overcoat is probably my best resource, seeing as it is not on the market and it will be hard to copy if I get a patent on it. Most others can be copied or substituted, my human capital and the people I know. My best bet is to probably stick with my original product to stay ahead.