Friday, April 10, 2020

23 A


1) Fundraising capabilities: This ability will allow me to raise money, which will allow my company to survive. This is something that everyone can do. However, not everyone has the same great people skills that I have. You could just take a loan out from a bank if you do not have the people skills and are willing to take on additional debt.

2) Quality Customer Service: This feature of my business will increase retention rates in customers to ensure they will continue to make repeat purchases. Many firms have great customer service while others have bad customer service. If you have the proper people in customer service, then you can imitate this ability. You also could outsource your customer service overseas and get the same end result most of the time.

3) Affordability: This is a valuable power that my business is able to accomplish. This will allow customers to feel that they are taking less risk when they are purchasing my product. There are many products out there that are affordable. This is not that hard to copy if you move manufacturing overseas. 


4) Competent Employees: Great employees will provide great end results. This feature is rare in firms that are just starting and do not have a lot of money. However, as a firm gets bigger and bigger, it will able to afford to pay competent employees. Also, companies can automate parts of their production process in order to get the same results.

5) Durability: This element will allow my product to stand out because there are no toys like mine on the market that actually are indestructible. Additionally, it is hard to copy my product because of the secret recipe of the rubber used in my item. Competitors could try to find other materials to imitate what I have. Regular rubber could provide the same benefits.

6) Positive cash flow: This aspect of my business will allow me to pay my employees, pay my bills, and continue to grow the business. Many companies across the world have positive cash flows. If you have proper goals and have great employees, and have a popular product or service, then you should have a positive cash flow. There is not a good substitute for a positive cash flow.

7) High Market Share: This strength will allow my business to use the same market share to sell more products to. Also, as sales increase, production costs generally go down. Many companies have large market shares in their respective industries. If you want to increase your market share, you can use penetration pricing to attract more customers. Instead of having a high market share of the general population, companies can try to use a skimming approach in order to attract only a large section of high-income consumers and still get the same end result.

8) Connections with Competitors: Being able to call competitors that I know in New York and California will help me know ahead of time what people in the same industry are doing. This ability is not rare because everyone is connected to everyone somehow. Thus, it is not hard to copy this strength. You could always just call your competitor and ask what they are planning to release next. The worst they can say is that information is confidential.

9) Innovative: I have the ability to continuously make new and better products. As a result, I will be able to continue making sales and gaining market share. Innovation is something anyone can do. However, not everyone is great at this skill. Instead of being innovative as a company, you could always buy a smaller company and use the ideas, products, and people they have in order to stay ahead.

10) Connections to get the ingredients of the rubber cheap: Without these connections, I know that I would not be able to sell my product at this low price, which would have decreased my market share. As far as I know, I am the only person able to get each raw material at such a discounted price. Others could try to get the discounts I get. On the other hand, I large corporation could build factories and that just focus on generating the materials needed for the special rubber. 

Top resource: Connections to get the ingredients of the rubber cheap:
Since I am the only person who knows the recipe for the special rubber, no one else would know what resources to even attempt to get a discount for. Consequently, I will be the only one who can produce this product and be able to produce it at such a low price.

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