My Unfair Advantage

• Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 

• Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?). 
• After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

1  Experience in the Field

VRIN:  This resource is valuable because it allows me to understand the consumer market.  It is rare because not many people understand the Recoil Device market.  This is hard to copy because it is truly unique experience that only I have. There is not any other resource that can provide the same benefits as this.

2  Prototypes

VRIN:  This resource is valuable because it helps me show buyers what the final product will look and feel like. This is rare because most entrepreneurs do not have prototypes early on in their startup.  This is hard to copy and also hard to reproduce the benefits.

3  Patent

VRIN:  This resource is incredibly valuable as it serves as protection for my idea.  It is rare because not many people have patents.  It is impossible to copy and cannot be reproduced for my idea.  This is my best resource.  This is the most important because it ensures that only I can produce my idea and that I have sole rights to it.

4  Knowledge of the competition

VRIN:  This resource is important because I know what else is out there.  It is common because most people know who they are competing against.  It is also unique so it isn't really easy to copy or reproduce for my specific situation.

5  Connections with investors

VRIN:  This resource is very important for moving my idea to the next phase.  It is uncommon for most entrepreneurs to know investors personally.  This is hard to reproduce and to find.

6  Patience

VRIN:  I think this is a valuable resource as patience is needed in this field.  It is uncommon for people to have patience now days and I feel like this will set apart the actual innovators.  It is easy to reproduce but, will it actually be done?

7  Persistance

VRIN:  I think this is a valuable resource because you need to be persistent to have your idea heard.  It is common for most inventors to be persistent which is why the competition is so high.  It is easy and normal to reproduce this through competition.

8  Knowledge of 3D printing

VRIN:  I think this is valuable as 3d printing is constantly being used to draft up prototypes.  It is common on universities as this type of printing can be free for students.  It is not common yet easy to duplicate.

9  Connections with auto CAD creators

VRIN:  This is valuable as the digital world is ever more important for advertising and drafting.  This is not common but is certainly a good resource.  It is not easy to produce as typical auto CAD producers need to take classes to use the software.

10  Experience presenting 

VRIN:  I think this is valuable because I am used to explaining my idea.  This is not common because most inventors may invent but not present their ideas to large groups.