Your Venture's Unfair Advantage

One of the most valuable resources or characteristics of my product would be the innovation factor is possesses. How is it something so simple can be so advanced in performance? In my opinion, this would be the most important resource we obtain. The next resource would be our human capital. This far into the business plan, I would be unsure of how to measure our human capital considering we don't have any employees at the moment. Our human capital would be based upon trust among everyone in the business. Another resource we would utilize to the best of our ability would be our social capital. One of the things that will separate us from the competition would be the contacts we have among the marine industry. From yacht salesman to owners of smaller bait shops, several locations in the Florida will initially be introduced to the product. Hopefully, expansions to the north and west part of the country will begin at that point.  Some of our capabilities that I would consider resources would be safety and efficiency. There are many more capabilities of my product than those two but those I would consider to be the most important. My product removes hassle and speeds up an annoying process. That is why I consider it efficient. My product organizes, keeps, deploys and retrieves the towing rope used in water sport activities. For the safety aspect of my product, there is constant tension on the rope to ensure there is no slack or tangle that causes the rope to go under water and get caught in the engine propeller. I believe this aspect of the product is the most convincing or attractive when consumers are contemplating shopping decisions. I would say that majority of my resources would fall under the category of capabilities because not a lot of factors of my business are ready for deployment. The organizational structure of our company would be constantly evolving as we grow and expand. To begin, our culture would consist of several different kinds of employees. I won't really discuss the manufacturing aspect of the product but at the beginning stages of the business that will most likely need to be outsourced by other manufacturing firms. After that we will have designated sales people in charger of different cities and areas. One of the last parts of the team would be the executive portion.

I consider all of my resources valuable and certain ones are unable to function without the presence of other ones. The innovation factor of my product is valuable because the industry has yet to witness a product like this that has its capabilities. That is the reason it is unique and hopefully the reason why it will change the marine industry forever. To make sure the product is protected but more specifically the technology, I would need to get a patent to make sure it cannot be copied. As of now, there is no substitute really other than the regular ropes that this product will beat advancement of. After conducting the VRIN analysis, I was able to determine that the most important or top resource is safety. The safety dynamic of this product surpasses all other resources because of all attributes that come along with it. It saves your boat possible damages, protects who you are responsible for behind your boat, and takes the stress out of which is usually an annoying process.