 Ventures require many different types of resources in order to be successful and to grow.  Some resources such as furniture, equipment, raw materials, parts, technology and inventory can be purchased.  Other resources, such as advice, expertise, and financing are more difficult to locate.

 Resources can be either fixed or variable in cost.  Fixed cost resources (always the same cost):  Salaries for staff, rent, equipment lease payments.  Variable cost resources (change every month):  Heat, electricity, and raw materials

 Material resources are materials a business needs to operate, and will vary depending on the venture.  For example, a manufacturing venture will need raw materials and parts to be purchased. However, a web-based business will only need office space and equipment.

 Material resources can be either consumable or fixed.  Consumable resources (expense goods), such as paper, oil, gas, phone service are used up in the process of doing business.  Fixed resources (capital goods) last a long time, but their value depreciates. Fox example, buildings, trucks, machinery, and office equipment.

 Most businesses require technological resources in order to be competitive in a digital and global world.  These resources include computers and a digital presence on the Web.  Unless you have web-designing skills, these services can cost a significant amount of money for it to be done properly and successfully.

 Financial resources are the funds required for the start-up and operation of the business.  Some of the money might include financial institutions such as banks, credit unions, or government agencies.  These institutions provide loans, grants, or people who invest in the venture.

 In order to obtain financing to start a new venture an entrepreneur will need to show carefully researched projections about potential revenues and costs.

 Human resources are the people who make a venture work.  Internal human resources are people who are part of the venture, such as entrepreneurs, partners, and employees.  External human resources are people outside the venture such as accountants, consultants, lawyers, marketing advisers, bankers, insurance agents, suppliers, and mentors.

 Following the following link and complete the outlined steps: tivities_ch09.html