23A- Your Venture's Unfair Advantage

Resources:

1. There is already a huge movement to stop using plastic straws nationwide, so I already have support and need from the public for a product like mine.
VRIN: This resource is extremely valuable, it ensures that there is a market for my product. It is also rare because it is hard to come up with products that have such a huge movement behind them, they don’t come by often. Others could possibly use this same movement and come out with my product first, but you can’t just copy a movement and make people believe in any product you come up with like mine. Other resources are similar but cannot substitute.

2. Many cities are banning plastic straws so there are already businesses who need a product like mine.
VRIN: This is very valuable, it forces many businesses to find an alternative to plastic straws and the only options really are paper or my product. It is rare for a ban to benefit a product as well as this one. You can’t copy or substitute this resource.

3. I already know of grocery bags being made out of the hemp and corn materials I want to use for my straws, so I know that the material works in the same way plastic does, I can create this similar product going off of theirs.
VRIN: This resource is semi-valuable, it is great knowing that this material works for creating plastic-like products, but it will be hard learning how these companies make their products. This resource is rare because not many products are made of this material. I hopefully will be able to copy this resource by learning how it is made and apply the same materials but in the shape of a straw instead of a bag. I can substitute this resource if I just find someone who can come up with a way to make the straws out of hemp and corn without the grocery bag company’s help.

4. I have a past restaurant owner in my network, which is very helpful in order to know what restaurants (my primary target audience) think about when buying a new product.
VRIN: This is semi-valuable, this is only one person’s opinion and can’t speak for the whole restaurant industry. This is not a very rare resource, there are a lot of restaurant owners. I can copy this resource by just finding a different restaurant owner to learn from, making it a resource that is easy to substitute too.

5. I have a person in my network who works at a company that also sells supplies to restaurant owners, meaning I can learn tips and tricks on how to sell to my target audience.
VRIN: This is a valuable resource, it is hard to come by people who work in this industry who I personally know and will share information with me. This is a rare resource because I don’t know anyone else that works in the industry that supplies to restaurants. Others could copy this resource by finding someone else in this same industry through their own network. I can’t substitute this resource because I don’t know anyone else that would be a substitute.

6. I have a lot of personal skills that will set me apart from others and will make me successful in this startup. I am tenacious, passionate about the environment and business, and driven.
VRIN: I know myself and know that I will succeed at whatever I set my mind to, so I see myself as a very valuable resource. I think this is a rare resource because no one else is like me and has the same exact skills as I do. Others could copy this resource to an extent, there are many other people who are tenacious, passionate and dedicated as well. I could not substitute this resource because it is me.

7. I have a lot of people backing me and supporting me, they will be a huge part of pushing to make this product successful.
VRIN: This is a very valuable resource because without my support group I wouldn’t be able to be successful. It is not rare to have a great support group, a lot of others do as well. No one can copy my exact resource because they are unique and specific to me. I could not substitute this resource and find others who have known me for years and believe in me like my current friends and family do.

8. I have great resources in order to get into contact those who would be interested in financially backing this business idea.
VRIN: This is a valuable resource, I will need business loans to start my product design and business. It is not rare to find people who care about the environment and would want to possibly invest in my product idea. Others could copy this resource by finding their own financial support system. I could substitute this resource by getting bank loan instead or finding others to invest instead.

9. I will be frugal with my loans in starting up this product and focus on growing awareness of my product and the need of it without running through my finances quickly.
VRIN: This is a valuable resource, but only if I can stick to it and no unknown large expenses come up. It is semi-rare to be able to be financially smart with loans, many people spend money carelessly without thinking about the consequences. Others could copy this by also being financially smart. I could not substitute this resource.

10. I believe it will be easy to get free advertising and PR for this product because of its ability to create less plastic waste in our oceans, I believe many people will post on social media about it and spread the word without me spending a dime.
VRIN: This is an extremely valuable resource because advertising can be costly, so getting a lot of free PR is very helpful to a startup business. This is a rare resource because not every product has a good cause behind it that will get people talking about it for free word of mouth. Others can’t copy this resource unless they also have a product with a good environmental or social cause behind it. I can’t substitute this resource.


My top resource is my first one—how there is already a huge movement in America for people to stop using plastic straws in an effort to stop putting so much plastic into our environment. This is the most important resource over the others because it proves that there is a need for my product and people will be interested in buying it. There isn’t a great alternative on the market, so mine will shine through and hopefully will completely replace plastic straws in the future. This resource is my biggest asset because it is a sort of proof of concept and ensure that I have an audience for my product.