We believe a successful business is built on assets that increase the company’s value, operational efficiency, profits, impact, and joy.
- Assets allow you to focus on the key activities in your business while you grow it
- Assets allow you to take holidays and enjoy life with family and friends
- Assets allow you to scale without adding more work hours
- Assets allow you to add team members that deliver the same amazing service as you
- Assets increase the value of your company in case you’re looking to sell it at some point
- Assets make your operations seamless and work more fun
The different types of assets are
A product asset is anything that can be sold several times. This could be a packaged service, a platform, technology, tools, service that is easy to copy and multiply. This could also be your product line, innovation or one single product that can be multiplied. Sometimes a product asset is an intangible asset and sometimes considered tangible. If you hold a stock of goods, you have tangible assets that are visible in your balance sheet.
Brand assets are intangible assets, but carry a real value if you manage them right. Brand assets are your methodology, your intellectual property, your trademarks, licenses, and other related assets that can increase the value of your company. Your message, your visual elements, but also your personality, essence, values are considered important brand assets.
The audience is the people who know you exist. This audience can be build in several ways and can consist of several types of people, such as your customers and clients, but also your partners, referral networks, and connections that contribute to your growth. The central in building audience assets is that you try to maintain control of the access to your audience. This means, for example, that you build a database of prospects and keep creating value for them.
The client acquisition assets are the sales and marketing systems, processes, and tools that contribute to the revenue and profit growth of your business. Acquisition assets are closely related to the audience assets and technology assets, but we wanted to separate these since there are specific types of assets that every business needs to build to improve its sales and marketing performance.
Media assets are your blogs, your social media channels, magazine, podcast, or any other assets that you can use in your brand building, sales, and marketing. Your media assets are closely related to your acquisition and brand assets, and the goal with your media assets is to position you as the leading player in your industry.
People are key assets to your business. At the start, you and your potential co-founder are the only assets that your company has, but once you start growing, your people assets will also grow. People assets are your team members, your suppliers, and just like when building your audience assets – your strategic partners become people assets.
Capital assets are cash in the bank, accounts receivables, loans, check credits, and other financial instruments that you use to grow your business. Growth eats a lot of cash, so you should focus on building your cash reserves already at the start, hence our focus on sales already out of the gate.
These assets are standard operating procedures and processes to manage your business. These assets are usually something that becomes a necessity once you have gained some momentum, but there are also some assets in this category that you need to think about from the start.
Technology assets are the tools, systems, and technical infrastructure required to scale your business. These assets are a necessity regardless of how your business model looks like, what you sell, and how. In today’s environment, it’s impossible to neglect technology and this is sometimes something that causes a great deal of stress for non-tech founders and CEOs.