Resource Sufficiency This topic pertains to an assessment of whether an entrepreneur has sufficient resources to launch the proposed venture. To test resource sufficiency, a Ice Cream Shop should list the 6 to 12 most critical nonfinancial resources that will be needed to move the business idea forward successfully? If critical resources are not available in certain areas, it may be impractical to proceed with the business idea. Examples of nonfinancial resources that may be critical to the successful launch of a new business - Affordable office space. - Lab space, manufacturing space, or space to launch a service business. - Availability of contract manufacturers or service providers. - Key management employees (now and in the future). - Key support personnel (now and in the future). - Ability to obtain intellectual property protection. - Ability to form favorable business partnerships.
Resource Sufficiency
This topic pertains to an assessment of whether an entrepreneur has sufficient resources to launch the proposed venture.
To test resource sufficiency, a Ice Cream Shop should list the 6 to 12 most critical nonfinancial resources that will be needed to move the business idea forward successfully?
If critical resources are not available in certain areas, it may be impractical to proceed with the business idea.
Examples of nonfinancial resources that may be critical to the successful launch of a new business
- Affordable office space.
- Lab space, manufacturing space, or space to launch a service business.
- Availability of contract manufacturers or service providers.
- Key management employees (now and in the future).
- Key support personnel (now and in the future).
- Ability to obtain intellectual property protection.
- Ability to form favorable business
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