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Scarce Resources for Entrepreneur

The business person who needs assets frequently can’t generally clarify the reasons why he or she is, truth be told, asset poor. It’s really a “blind side” for them, and they regularly ascribe their rare assets to unavoidable occasions. In any case, the shortage of assets may just be the “substantial confirmation” that this specific business person has a constrained capacity to execute or play out the prerequisites of the “entrepreneurial achievement script” (the example for making progress in another business wander).

For instance, they might not have appropriately “collected” past business wanders (caught benefits or transformed value into monetary benefit), in this manner creating adequate assets to make conceivable future wandering. The business visionaries who need assets may likewise be “solitary wolves” who have not figured out how to prepare others. Or, on the other hand, they might not have perceived their range of unprecedented mastery (what they specialize in) and are “looking in the wrong place”.

Many venturing types who are either “Classic Expert Entrepreneurs” or “Institutional Experts”, have “done their time” in the area of lacking resources. Times of scarcity appear to be a natural part of the new venturing experience, and for this reason those who lack resources have a unique situation. Things such as raising venture capital or finding potential investors may appear to be far from their current state.

Therefore, within this group are opportunities waiting to be refined. And while their plans should be given serious consideration, they should also be thoroughly scrutinized.

What You Should Do

You might currently feel comfortable going it alone with your own limited resources or lending your venturing expertise to an established business opportunity where resources(such as cash, contacts, infrastructure, technology, etc.) are already in place.

But, if the entrepreneurs who lack resources intend to engage in or proceed with a new venture, they should seek help from other experts or from appropriate consultants. You probably need an expert advisory board. Essentially, your needs “appear” to be resources, and in fact they partly are. But they also include the need for close examination by experts other than yourself (venture capitalists, institutional experts within a bank or small business department of a university, or by expert venturers) to identify the more subtle reasons why resources are flowing slowly or not at all.

However, if you lack resources and are intent on undertaking a new venture, try to be humble, find an extra measure of patience, put yourself into a listening frame of mind, and start seeking detailed, specific input regarding the approach that you are taking to your venture. Most likely you will face the obstacle of being over-optimistic on your own part and will attempt to refute or challenge the advice you get (viewing it as being irrelevant or lacking in optimism). You really are dealing with a potential “blind spot” and are likely to misinterpret the information that you receive.