Establishing and accessing resources
The venture planning process is likely to identify that a range of resources are required to enact the opportunity. Some of these may already be available, but unless you are very fortunate or are planning a venture of quite limited scale, other resources will be required. The types of resources were outlined in Chapter 4 and the networks through which they can be attracted or captured were considered in Chapter 5. Resources can come, for exam¬ple, from corporate organisations; public sector organisations, including regional develop¬ment agencies; research institutes; including universities; and investors, including business angels and venture capital funds. It makes sense to invest capital only in purchasing assets which are known to be of long-term and appreciating value to the business, and to aim to gain the use of other assets at least cost, for example by renting, leasing or borrowing. Large organisations, including corporates, public sector bodies and the military, often buy and then do not fully utilise capital assets, which may then be targeted by entrepreneurs to use on a 'pay as you go' basis. These can include premises, printing, payroll, manufac¬turing and distribution facilities.
The types of resources required may include, for example:
- Knowledge: specialist knowledge, expertise or information not held by the venture team which needs to be researched or bought-in.
-Human resources: skills, expertise and capability required in the venture.
- Finance: investment or lending for capital asset purchase or working capital.
- Technology: product or process technology which needs to be bought-in or licensed.
- Intellectual property: permissions or licences which need to be negotiated to provide the rights to use them.
Establishing and accessing resources
The venture planning process is likely to identify that a range of resources are required to enact the opportunity. Some of these may already be available, but unless you are very fortunate or are planning a venture of quite limited scale, other resources will be required. The types of resources were outlined in Chapter 4 and the networks through which they can be attracted or captured were considered in Chapter 5. Resources can come, for exam¬ple, from corporate organisations; public sector organisations, including regional develop¬ment agencies; research institutes; including universities; and investors, including business angels and venture capital funds. It makes sense to invest capital only in purchasing assets which are known to be of long-term and appreciating value to the business, and to aim to gain the use of other assets at least cost, for example by renting, leasing or borrowing. Large organisations, including corporates, public sector bodies and the military, often buy and then do not fully utilise capital assets, which may then be targeted by entrepreneurs to use on a 'pay as you go' basis. These can include premises, printing, payroll, manufac¬turing and distribution facilities.
The types of resources required may include, for example:
- Knowledge: specialist knowledge, expertise or information not held by the venture team which needs to be researched or bought-in.
-Human resources: skills, expertise and capability required in the venture.
- Finance: investment or lending for capital asset purchase or working capital.
- Technology: product or process technology which needs to be bought-in or licensed.
- Intellectual property: permissions or licences which need to be negotiated to provide the rights to use them.
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