MOBILISING RESOURCES

MOBILISING RESOURCES

Definitions:

• Resource: a tangible or intangible asset that is available and can be used for entrepreneurial purposes (Martínez-

Martínez & Ventura, 2020). • New resource skill: Ability to acquire and systematize the operating resources needed to start and grow an organization. (Baum & Locke, 2004). • Resource leveraging: skills at accessing resources one does not necessarily own or control to accomplish personal ends (13 Entrepreneurial Competences Model; Gianesini et al., 2018) • Resource deployment: Resource deployment can mean many things including, for example, how amassed resources are configured to enact the initiative, how current resources are mobilized or otherwise leveraged in support of the initiative, the timing of the resource allocation process, and the level and type of resources allocated in pursuit of the opportunity. (Kuratko et al., 2005). • Bootstrapping: development of methods to ensure the use of the resource at low or no cost. • Financial bootstrapping: refers to the strategies taken by the entrepreneur to overcome funding constraints without relying on formal debt from banks and equity financing from investors. Some of these forms can be: owner financing (e.g., withholding own salary, employing relatives), minimization of accounts receivable (e.g., speeding up invoicing, charging interest on overdue payment), joint utilization (e.g., owners share and borrow resources from each other), delayed payments (e.g., delaying payments to suppliers and leasing equipment), minimization of capital invested in stock (e.g., optimizing stock, minimizing inventory), and obtaining subsidies (e.g., from government or public organizations) (Winborg & Landstrom2001; cited in Frese & Gielnik, 2014). • Guerrilla Skills: the capacity to take advantage of one’s surroundings, employ unconventional, low-cost tactics not recognized by others, and do more with less. (Morris et al., 2013). • Quote: “Founders are able founders are able to “accurately conceptualise an opportunity and then commit the necessary resources in order to solve such a problem”. (Mitchelmore & Rowley, 2010). Hint: • Get and manage the resources you need.

Descriptors:

• Get and manage the material, non-material and digital resources needed to turn ideas into action. • Make the most of limited resources. • Get and manage the competences needed at any stage, including technical, legal, tax and digital competences (for example through suitable partnerships, networking, outsourcing and crowd-sourcing). Thread as in EntreComp

FOUNDATION

Discover – Explore Relying on support from others

INTERMEDIATE

Experiment-Dare Building independence

ADVANCED

Improve-Reinforce Taking responsibility

EXPERT

Expand-Transform Driving transformation, innovation and growth

Access

resources to extract value/Make the most of limited resources /Manage

resources

strategically Be aware of the limitation of resources in any new venture. Awareness that limited

resources are not necessarily an impediment to startup.

Access resources, even those that others own or control, by sharing resources or by other means.

Minimize the resources

requirements to develop the venture Optimize the existing resources to make the most of them.

Use techniques of bootstrapping, guerrilla skills. Creatively see what can be done with the resources one already has access.

Develop strategies of resource management considering the impact

on the environment.

Acquire

resources (material and non-material) Being aware of (ability to explain the importance) of different types of resources: financial capital, human capital, social capital, cultural capital, venture capital. Recombine and seek new ways of obtaining resources when these are limited. I can get together the

necessary resources

to develop my new venture. Effectively judge and make targeted recommendations on the key resources needed to support an innovative idea or opportunity to develop an existing business, launch a new venture, or initiate a social enterprise.

Make the most of your time. (Time management) Value time (mine and the others’) as a scarce and valuable resource.

Get support & build a network

Search for help (find support) when needed for my value-creating activity (for example, teachers, peers, mentors, advisor or consultancy services). Manage my time (and the others’) effectively using techniques and tools to be productive. Help others manage their time efficiently.

Identify public and

private services to support my value-

creating activity (for example, incubator, social enterprise advisors, startup angels, chamber of commerce). I can effectively delegate tasks to the right actors within and outside my organisation to make the most value (for example, outsourcing, partnering, acquisitions, crowdsourcing).

Develop effective time-management techniques that meet

the specific needs of value-creating activity.

I can develop a network

and mobilise a network of flexible and responsive providers

from outside the organisation who support my value-creating activity.