There is a certain set of resources that set this venture apart from other efforts in the past. In this list are the:
Financial Resources: Money is scarce. Having this revenue and reducing start-up costs is valuable to the business and the future success of this venture.
Organizational Culture: Having low costs with a small team will provide useful when justifying expenditures. This can be copied and is on a daily basis, but is helpful to our company.
Social Capital: As a college student, working with other students and faculty, there is a wide audience through which we can cast our net. Especially considering the product targets towns similar to Gainesville and will start in Gainesville. Lots of other college students have this resource, but maybe not the willingness to utilize it.
Idea ingenuity: As far as I can tell, no one has come up with a biodegradable lid alternative that features both a sip lid option as well as a paper-straw friendly docking point. Because this is a unique design, it is hard to copy without infringing upon copyright laws.
Location: The people of Gainesville serve as the perfect product candidates considering Alachua County is a plastic-straw banned county and therefore needs a straw alternative. Soon, the deterioration of paper straws will inconvenience enough people that they seek alternatives (our product).
Environmental Compatibility: Being sustainable is a huge plus in today's market, which makes it unique. Lots of other products are environmentally friendly, but not many commercial drink lids.
I think the top resource is that our product is environmentally friendly. In essence, this product is a companion to another environmentally friendly product, the paper straw (however, not solely dependent because of the sip lid design). It's most important because it sets our product apart from other lids which do not work well with paper straws or are completely unsustainable
Financial Resources: Money is scarce. Having this revenue and reducing start-up costs is valuable to the business and the future success of this venture.
Organizational Culture: Having low costs with a small team will provide useful when justifying expenditures. This can be copied and is on a daily basis, but is helpful to our company.
Social Capital: As a college student, working with other students and faculty, there is a wide audience through which we can cast our net. Especially considering the product targets towns similar to Gainesville and will start in Gainesville. Lots of other college students have this resource, but maybe not the willingness to utilize it.
Idea ingenuity: As far as I can tell, no one has come up with a biodegradable lid alternative that features both a sip lid option as well as a paper-straw friendly docking point. Because this is a unique design, it is hard to copy without infringing upon copyright laws.
Location: The people of Gainesville serve as the perfect product candidates considering Alachua County is a plastic-straw banned county and therefore needs a straw alternative. Soon, the deterioration of paper straws will inconvenience enough people that they seek alternatives (our product).
Environmental Compatibility: Being sustainable is a huge plus in today's market, which makes it unique. Lots of other products are environmentally friendly, but not many commercial drink lids.
I think the top resource is that our product is environmentally friendly. In essence, this product is a companion to another environmentally friendly product, the paper straw (however, not solely dependent because of the sip lid design). It's most important because it sets our product apart from other lids which do not work well with paper straws or are completely unsustainable
Kelly,
ReplyDeleteSustainable and environmentally friendly products have become just part of our everyday life now. It is strange that we don't see more paper straws. This is a reason why I think that a product like yours would be a good idea, especially if it is biodegradable. If your unfair advantage is that the straw is environmentally friendly, then you will need to protect your materials or process.
Hey Kelly,
ReplyDeleteYour list of resources was interesting to read. I can see how you feel the most important is to be environmentally friendly. I think this is obviously a vital aspect to your product as well. I can also see how social connections can be important as well, to let companies adopt your product and being able to reach out and tell them about what you have created. Overall, great post!