06.1 types of resources

The Science of StartTypes of Resources

paulshawsmithscientific business strategy

paulshawsmithscientific business strategy

What do you need tolearn this week??

paulshawsmithscientific business strategy

1What key resources does your business need to operate?

paulshawsmithscientific business strategy

2Can you acquire those key resources?

paulshawsmithscientific business strategy

3What are the costs and terms of acquiring your key resources?

paulshawsmithscientific business strategy

Physical Resources

(Things)

1

Buildings

Vehicles

Machines

Logistics Infrastructure

paulshawsmithscientific business strategy

? Make a list of physical resources your business needs?

paulshawsmithscientific business strategy

Intellectual Resources

(Knowledge)

2

Patents

Company Secrets

Copywrites

Brands

Databases

paulshawsmithscientific business strategy

? Make a list of intellectual resources your business needs?

paulshawsmithscientific business strategy

Human Resources

(People) 3

Experienced Employees

Skilled Employees

Expert Employees

paulshawsmithscientific business strategy

? Make a list of human resources your business needs?

paulshawsmithscientific business strategy

Financial Resources

(Money)4

Sources of financing

Source: FinScope (2011)

Banks

Equity Investors

Government loans or grants

Crowd Funding

paulshawsmithscientific business strategy

? What financial resources will your business need?

paulshawsmithscientific business strategy

Social Resources(Contacts)5

Key Contacts & Relationships

Political Connections

Source: Phillips (2002) and Audretch (1995)

Incubator average(3/20 fail)

Industry average(10/20 fail)

Support Network

Source: Watson (2007)

Advice from accountants 3< /yr (16/20 survived )

No advice from accountants(9/20 survived)

Key Advisors

Patrons or Champions

Thought Leaders

paulshawsmithscientific business strategy

? What social resources does your business need?

List your dream resources

*

**

*

In groups of 3 – 4:

For each person’s business create a dream list of

resources for your business Think: Things, knowledge, people, money

& contacts

What resources would get you making money next

week?What resources would get you acquiring

customers?

* What resources would get you delivering products and

services?