What is resource planning?


Quick Answer

Resource planning is the step in writing a business plan that involves identifying the resources that a proposed business needs to succeed. This includes resources that the entrepreneur already has and those that still need to be acquired.

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Full Answer

Typical resources listed during the resource-planning stage include monetary resources, staff, essential equipment, and advisors or mentors. Resource planning takes into account the start-up needs of the business as well as expected needs as the business grows. During resource planning, the entrepreneur reviews the necessary resource list and makes plans on how and where to acquire each resource. Possible sources include bank loans, personal investors, professional organizations, friends and relatives.

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