23A- Your Venture's Unfair Advantage

1. Resources in the venture and VRIN Analaysis

1. Me, the founder of the business, who is also within the target market

• Valuable- I am a valuable asset because I know my business better than anyone else does
• Rare- I am rare because there is no other person like me. We are all different so my expertise and experience will come a long way.
• Inimitable- Once again, every single person on the planet is different, so it is impossible for another business to have me as their founder and CEO unless I create it.
• Nonsubstitutable- There is no other way that I will offer myself up as the founder of another business, so no other business will have me

2. A great network of people who can help me promote my product

• Valuable- All of the people who I know have a unique insight into their personal experience with business which they can apply to my business
• Rare- The combination of all of these people into one network is very rare because I have built it up through many years of networking and meeting people
• Inimitable- It is very hard to imitate this exact network of people who I know into an exact group because everyone is so different and has such a unique experience
• Nonsubstitutable- You can't find these people anywhere. I have taken years to build this network and it is not something you can do in a few days or even months.

3. A loan from a bank so that I can begin my business

• Valuable- A loan is very valuable because it will allow me to initially start my business if I do not have the funds to do so myself.
• Rare- I would say that if someone has good credit, a loan is not very rare.
• Inimitable- Anyone who needs or would like a loan is welcome to apply for one if they need it, so this is not inimitable.
• Nonsubstitutable- This can be substituted because if someone has the funds to start their business, they can use money out of pocket rather than asking for a loan.

4. The product itself: A high demand product that does not yet exist- my reusable, retractable rubber straw

• Valuable- I believe there is value in introducing a brand new product into a market that has never been seen before and is in high demand.
• Rare- Since the product has never been seen and it is an original creation, I believe it is very rare.
• Inimitable- I would say that if someone else wanted to create the same product, it would not be very hard to do so. Thus, my product is not inimitable because truly anyone can do it.
• Nonsubstitutable- Another downside is that there are substitutes to it. People can easily create my product if necessary.

5. My product is environmentally friendly

• Valuable- This is an extremely valuable quality to have because it shows that our company truly cares about the planet, and thus about our customers.
• Rare- It is not all that rare for a company to be environmentally friendly
• Inimitable- This resource is fairly easy to imitate because if any other company wanted their products to be environmentally friendly, they can do so through organic and recycled material, and by creating something that is not using plastic.
• Nonsubstitutable- Unfortunately, there are a bunch of alternative products available for use that are equally as environmentally friendly as mine.

6. My product is very cheap to produce

• Valuable- This is very valuable regarding the internal aspect of my company. Being cheap to produce allows us to save money on production costs.
• Rare- It is not very rare for a product to be cheap to produce, especially if the company is skilled at what they produce and has found ways over the years to reduce costs.
• Inimitable- This is an easy thing to imitate because others can copy the production tactics that lower costs regardless of the product.
• Nonsubstitutable- I do not see too many other resources providing the same benefits besides just cutting down on various parts of production and using cheap material in order to lower costs.

7. My product will sell for a very low price

• Valuable- This, with regards to literally any product, is extremely valuable within a given market. It is crucial that we provide for less because it attracts more people
• Rare- Within this sort of market, it is pretty rare to find a product like this, made from environmentally friendly products, that is so cheap. Usually, things made like this tend to be expensive because of the materials that are used.
• Inimitable- Others can imitate this if they wanted to, but they may not profit off of it as much. Since we have low production costs, it is easier for us to lower retail prices.
• Nonsubstitutable- I believe that others can imitate this by offering services or products at low prices.

8. I will offer my product at a variety of retail stores, coffee shops, and online

• Valuable- This is very valuable because it offers place utility. We are offering our product at a wide variety of locations with extensive coverage. This makes it easier for the customer to buy our product because it is offered everywhere, even online. 
• Rare- I believe that this is rare for this type of industry. Typically, the things that offer good place utility tend to me essentials such as toiletries, candy, makeup, etc. People are not used to seeing reusable, retractable straws everywhere they go.
• Inimitable- Although it can be imitated, I see it being very costly for others to try to offer the same product coverage as we do.
• Nonsubstitutable- I see any sort of online retailer as offering the same benefit as our extensive coverage. Online would do the trick because it can be accessed and ordered by anyone anywhere.

9. I have experience in marketing and entrepreneurship to help get my business started

• Valuable- This personal experience is something that not everyone has, especially when I have come to interpret and transfer these skills in my own unique way. It is valuable because it can be applied to this business.
• Rare- I would say it is not too rare because within the business school, a good majority of people have taken courses that have given them this experience.
• Inimitable- This experience is truly not hard to imitate. I also do not think it would be costly for others to gain some of this experience.
• Nonsubstitutable- I think that other people can easily take other courses that will expose them to the same or similar experience. Thus, other resources can provide the same benefits.

10. I live in an area that is primarily dominated by my main target market, making it easy to promote

• Valuable- This is valuable because it will allow me to promote my product from the comfort of where I live, thus lowering company transportation costs.
• Rare- it is rare because typically, people do not create a product that is only aimed at the people who they tend to surround themselves with. I am in close geographic proximity to my market. 
• Inimitable- Although it can be imitated, it is not common. Typically, a business owner will not relocate in order to live somewhere where their product is a top seller.
• Nonsubstitutable- Yes, this is a resource that other resources can replace. For example, having workers located in various parts of the country in places that have a high volume of people you are trying to target with your product.

As far as my organizational culture goes, I hope to create a business with a very unique, laid back workplace culture. My philosophy is that my business will be able to welcome any type of person who is passionate about what we do. Most importantly, I want people who are always looking for ways to improve their performances and who strive to reach new goals every day. I hope to partake in environmentally friendly practices that I know will help reduce our carbon footprint, inspiring others to do the same.

2. My Top Resource

I have to say that I believe my top resource is the network of people who I have around me helping me with this. No one can create a business alone. Having a huge group of people who are great at what they do will allow me to gain unique insight on various aspects of my business. It will also allow me to reach out and ask questions whenever I am in doubt. I think that this is the best resource I have because you can't do it alone. Having this support system to help guide me through this will prove extremely helpful in the future.