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Your Resources Well-Managed Trump More Resources Mismanaged

Your Resources Well-Managed Trump More Resources Mismanaged

Business human resources

Resource: A person, place or thing from which a benefit can be derived.

Have you ever Googled ‘wasted resources’? Food, energy, wealth, labor, technology… all have long histories of reported waste. I’ve always wished I could get my hands on just a smidgeon of the business resources I see wasted. How about you? What would you do with them?

Natural or man-made, resources are the source of all production and consumption. Just as our personal well-being is jeopardized when we lack resources, resources are at the root of all business successes and failures. Use of them affects their availability, and vice versa.

It is that catch-22 that makes it crucial for us to get creative with the resources we have. To achieve success in business, you need adequate and sustainable resources. That means achieving the balance of deriving maximum benefit from your existing resources, but not exhausting them – we need them to attain more.

Consider each of the following resources. Which combinations of them do you have, and which do you need? Are there any you have that you could get more benefit from? Are their creative ways to gain resources you might be lacking, such as resource-sharing opportunities, or free or underutilized resources?

Human Financial Psychological Physical
Self
Interns
Employees
Contractors
Vendors
Partners
Service Providers
Acquaintances
Friends
Family Members
Customers
Prospects
Market Influencers
Cash
Liquid Assets
Credit
Investors
Grants
Gifts
Crowd Funds
Trade Equity
Sales
Profit
Cash Flow
Experience
Knowledge
Skills
Opinions
Ideas
Relationships
Emotional Well-Being
Trust
Comfort
Desire
Motivation
Passion
Optimism
Control
Influence
Mindfulness
Self-efficacy
Confidence
Relevance
Food
Water
Air
Space (land, building)
Time
Equipment
Furnishings
Transportation
Software
Hardware
Raw Materials
Marketing Materials
Educational Materials
Physical Well-Being
Rules and Formulas
Plans and Procedures
Patents/Trademarks
Products
Services

Maybe you need Marketing Material and have an Intern with the Knowledge to create it currently using their Time on Food runs. Maybe you are meeting your Sales goals, but have an accounts receivable Employee spending more Time on balancing accounts than on collection, so are short on Cash Flow.

Whether you are just starting a business or have been running one for years, you continually need well-managed resources. Make it a regular habit to review resources you have, resources you need, and how you can attain and use them most effectively. Stay tuned for resource management planning, tips and tools.

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