Over the past two G-FORCE Mastermind sessions, we’ve covered 2 of the3 main responsibilities of an entrepreneur. In this session, we will cover the 3rd responsibility.
There are 4 types of resources that are critical for your business to function properly; physical, human, intellectual and financial.
When thinking about each type of resource, ask yourself, “would the job be more difficult or impossible without it?”
Physical resources are the tangible things the organization uses to create value. This can be the software your employees use, your buildings or offices, product inventory or the manufacturing plant required to create your products.
Human Resources are your employees and customers. Never underestimate people. Your job is to put together a puzzle of people. You must put the pieces together and decide who reports to who, who collaborates with who, who your organization is for and how many people your organization needs.
Intellectual Resources are non-physical or intangible by nature, like your mindset. You must invest in your mindset and the mindset of your team. Company culture is a big part of that as well as information, training, support, onboarding systems, data, partnerships and customer/employee knowledge.
Financial Resources are company cash, employee compensation and department budgets. If you think holistically about money, it can be the easiest to attain if everything else is in alignment. You can also get creative with funding. Financial resources include equity, debt, revenue, customers being investors, pre-sales and partnerships.
When making decisions regarding financial investments, ask yourself the following questions,
“Do I have enough runway for my employees to think clearly?”
“Do I have a plan that supports my goals?
“Is my employee compensation supporting their goals?”
Create processes! You will often discover the need for new processes through little challenges that present themselves. When you find a process that addresses a specific need, make sure to also give your team access to the process.
Do the Math! Ask yourself important questions,
“What good happens if I do?”
“What bad happens if I don’t?”
“What could I do instead?”
Stay On-Brand! Do everything you do, YOUR WAY! You have to be on-brand every time or you will begin to steer away from your mission and vision of your company.
Britnie Turner, Founder & CEO of Aerial and creator of G-FORCE Mastermind, shares different tools with the G-FORCE Mastermind community that help keep the entire team aligned with the mission of elevating people and places. The tool she recommends force-for-good entrepreneurs to use is called, Align. Align provides strategic alignment and collaboration for your entire team.
We can’t talk about resources without talking about the “success snowball”. The success snowball means that, if you’re crushing responsibilities 1 and 2, you will find that your exceptionally talented employees are resourceful on their own.
Exceptional talent takes what they have and does incredible things with it. The more resourcefulness your team exhibits, the less pressure there is on the resources. If the resources part is stressing you out, then you should revisit 1 and 2 to make 3 easier.
No matter what happens, take responsibility for everything in your life. If something or someone is struggling, don’t focus on what they are doing wrong, look at what YOU can do better. The point is to positively identify things you can actually do to improve the outcome because, YOU CAN.
“The day I stop pushing you is the day I stop believing in you.” -Britnie Turner
The world makes way for those who know where they are going. Finding the tools you need to help drive your ship is why G-FORCE Mastermind was created. If you’re an entrepreneur passionate about making a larger impact in your community, visit www.gforcemastermind.com to apply and learn about our plans to end world issues together!