Sometimes when I speak with business owners about assets, they seem to get it. But they don’t. Not really. They falsely believe that today their physical building, trucks, and licenses are assets.
My response? NO! As commerce moves from marketplace to marketspace, your physical assets now become liabilities and are the most dangerous threat to your business.
There is really good news around the corner and that is, you don’t need worry about trucks, you don’t need to worry buildings, and you don’t need to worry about licenses on the internet.
That today information assets are the future. This includes the expertise you have, to trademarks, to market intelligence, to generosity and the processes to corporate culture and identity.
Running an ad is an expense and a liability. Building a brand that people trust on the internet is an asset.
A great example of this would be Amazon. What are the assets of Amazon? Well, they do have a few warehouses each with hundreds of employees and a software development center, but they mainly have two: a brand that people trust, and information on customer buyer behavior which enables them to offer or recommend to an individual specific item, or bundles of items based upon preferences demonstrated through purchases or items visited.
Note: Information Management (IM) support Amazon’s business strategy.
The challenge in growing a business is in building and identifying the information assets daily. And making sure you’re doing it for less money than those assets end up being worth because those information assets should become products or services you sell in the future. Your expenses should generate assets.