Friday, July 20, 2018

23A

Resources

1.) Intellectual Capital
The first aspect which would make this venture different is the development of new intellectual property, specifically the code necessary to transfer currency into an online banking institution. So far this is a process has not been done before but more importantly it is something that cannot be easily duplicated as it takes an extensive knowledge in developing the necessary coding for cryptocurrency.

2.) Logistical Infrastructure

Much like the way Wal-Mart has taken over the grocery industry, my venture intends to develop the first logistical infrastructure for cryptobanking, by providing a well demanded service for customers, which will form a bridge between banking, crytpocurrencies, and more specifically the profits of our Marijuana Economy this will be the first mode of transfer and investments for many of these institutions. So far there is no resources that provides this service so far.

3.) The Social Capital/Experience
The number of individuals who are within my social capital bring a great deal of experience and in some cases provide many future customers. It is rare for a venture to be able to provide the individuals who are experienced not only in business but also in the health care industry, this will allow me to bridge the cap between two sectors of the economy, and by doing so greatly increase my customer profile and also add to the uniqueness of my venture.

4.) Research and Development

The key to building a great venture is the ability adapt to the changing times, my venture will seek to keep up R&D efforts by constantly updating the coding infrastructure  which provides the crytpocurrency with its security and versatility throughout the investment field. Each coder is unique, and the coding in this case will be a combination of how well the code can withstand utilization and different economic situations.

5.) Cross-Market Product

My product is marketed towards a wide-field personnel, meaning I intended to branch those who operate within the investment and banking center, and those who operate in the health care industry, this is unique to my venture and while others may be able to copy the format the product itself is unique to tailor the needs of my customers. This is a product and economic situation that cannot be easily copied.

6.) Cost Structure

Unlike a great deal of other ventures that require a great deal of capital and money to get off the ground. My venture is not that expensive as it mostly revolves around developing coding and computer infrastructure. The fixed and variable costs to operate my business will be far lower than most within my field, which offers me a unique and rare opportunity to provide profit and service to my customers.

7.) Organizational Culture

In my business there is no boss, the employees will work with me not for me. The idea is that each employee will be in the product that my company will be selling. My company will seek to bridge the gap between two booming markets and provide a clear cut solution to a growing problem. Focus on problem solving, creating a dynamic environment which individuals can foster healthy ideas, and institute a belief that people are always over profits.

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3 comments:

  1. Your first point was the best one on the list it is a rare inimitable and unsubstitutable because it makes your business secure tour R&D upkeep is also essential to keeping your business own the playing field as every good business knows and every failed business has learned. Its also great that your venture is nexpensive which means its a lot less of a financial risk and can be extremely profitable.

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  2. I really like your business idea that i've been following the whole semester. The fact that you listed intelectual capital is very important. Having knowledge in the area of your own business is always very important. Even though, the assignment was not fully completed, the resources you remarked were very important and you also threw bullet points. Overall great job!

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  3. Hey Olufemi

    What you posted was strong work that really allowed me to get a better idea about your product and your unfair advantages. Unfortunately, the assignment doesn't appear to be completed which is a shame because I would have really liked to have seen what else you could have added to your strong list of unfair advantages. Again, even though it wasn't complete, it was good work nonetheless.

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