Educational Resources: Building a business requires a lot of knowledge and skills. So, gather as much as possible knowledge as you can. Learn about your industry, your competition, and your customer base. Before You must keep learning because the business world dynamic and unique, it’s always changing. you start your business, it is important to carry out comprehensive research on the type of business you want to start. The product or service you want to offer, and excellent understanding of your target audience. Research also helps you in producing a detailed and well-analyzed business plan that will not only be the foundation upon which your business will be built, it will also help your business survive turbulent seasons in the years to come. Adequate research provides you with enough resources in crafting a business plan that is firm and flexible in implementation. Technology, such as the internet, has made it possible to quickly find information. Exposing yourself to the right knowledge and expertise will minimize the risk of failure, resolve challenges and reduce losses. Research is like having the right education for your business success. And education, for an entrepreneur, is a lifelong responsibility to ensure that you stay on top of the current trends in a competitive in the market.

Financial Resources: Having just enough funds to run and manage your business venture is mandatory for your business to take off, survive and eventually become a success. You need funds to run your business for a while before it starts yielding returns. You will need funds for day-to-day operations. If you are lucky, it won’t be a bad idea to have to some reserve to cover contingencies and any other type of miscellaneous expenses. You can start the financing of your business through savings, investments, loans or lines of credit. The funds you need to successfully start and run your business depend on the type of the business and the size of the business. The best advice you can ever get is to start small with the available resources you have.

Human Resources: Human resources mean the people you employ in the process of establishing your business. They are the spine or engine of your business. You need people to run a successful business venture. You can’t do it alone, you need help in every way possible to build your business. You need the right set of people to succeed. You need the right people for every role and function in the organization. The easiest way to kill a business is to hire people who do not fit into the required roles. Don’t hire cheap. The quality of your product or service will be greatly affected and it may kill your brand. Hire skillful and competent people for each role, and you should respect and honour them too. They are not your slaves; they are your co-labourers. With this in mind, you will build a thriving business.

Technological Resources: As an entrepreneur in the 21st century, having a global digital presence is vital for the survival and success of your business. You cannot over emphasize the importance of this to the growth of your business. You must put effort and channel enough financial resources into having the right technology and tools in place. This means setting up your website and social media platforms, using cloud-based software or customer relationship management (CRM) tools, lead generation tools, building a mobile app for your business, and so on. You can also invest in more advanced technology like artificial intelligence and machine learning.

Emotional Support Resources: This is arguably the most important of the resources that you need to build and run a successful business. It is as important as the business itself. Without it, you will burn out and give up along the way. We all need a support system to help us in times of difficulties and pains. Building a business is hard; it is a complicated process with lots of obstacles. On the journey to success, there will be many downtimes. The only way to survive is to have a good support system. These include your immediate family and friends, partners and mentors.