Office 365 and Sandboxed Solutions:Exceeded the daily resource usage quota.

"The site collection containing this sandboxed solution has exceeded its daily resource usage quota.​"

While working with Sandboxed Solutions on Office 365, you might get this error when you try to activate your solution. I faced this error on the Small business version of Office 365 but it has been know to occur on the Enterprise version too.
There is a limited resource usage quota alloted to each SharePoint Online sitecollection. When this usage quota is exceeded (when you try to activate your solution) , this error occurs.
So far, I have found how to resolve this issue on the Enterprise Version of Office 365 only. I am afraid there is no setting on the Small Business Version (The P1 plan) to manage the allocated resources.
The solution for this issue (on the Enterprise Version) is pretty straightforward:

Go to:
Admin ->
SharePoint Online ->
Manage ->
Manage Sitecollections->
Select your Sitecollection ->
Select Resource Usage Quota -> (on the top of the page)
Enter the new value in MB of your Usage Quota in the resources textbox->
Click Save.

Done. That's all there is to it :)
Enjoy Office 365!