24 Assets

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24 Assets

Create a digital, scalable, valuable and fun business that will thrive in a fast changing world

To produce maximum value, a firm requires an ecosystem of assets that collectively perform at an exceptional level. This is also what protects your company. Your competitors may be able to replicate one or two aspects of your firm, but replicating a full ecosystem is extremely difficult. Whether you want to sell your company or not, it's worthwhile to play the 'create a firm that someone might like to purchase' game. This game guarantees that you are establishing a solid, powerful firm that has potential and attracts the correct individuals. As per the writers, people like to acquire organizations that have a strong balance of assets in seven areas, with a total of 24 assets dispersed throughout the seven categories.

i. INTELLECTUAL PROPERTY ASSETS
Today's fast-growing enterprises rely on intellectual property assets: ideas that have been formalized into legally protectable property, such as libraries of text, photographs, videos, and audio files, as well as code, algorithms, and processes developed by the company. Because to his ideas on how people network online, Mark Zuckerberg became one of the world's top ten richest individuals by the age of 30. His assets are primarily intangible: massive amounts of data, patents, algorithms, trademarks, and registrations, as well as all of Facebook's other digital assets.

ii. BRAND ASSETS
Being known, liked and trusted follows assets. In a world when there are many options for every product and innumerable unscrupulous suppliers in every sector, a trustworthy brand is more vital than ever. When compared to an equally dependable generic version of the same product, the most well-known brand in a category can charge four to five times more for its product. Consumers search for signs that you are recognized, loved, and trusted, and they are willing to pay for that extra reliability, which helps you provide value. It provides scalability because if you've thought about your brand, you may appear all over the world as looking ready for business.

iii. MARKET ASSETS
Following assets is having a firm grip in your marketplace. Having a strong market position is a great way to build a robust business. As purchasers, we don't consider ourselves to be part of a market. We are individuals with unique requirements, desires, and purchasing criteria. Having market assets enables you to communicate, sell products, and spread ideas to the appropriate people faster, more effectively, and at a lesser cost than competitors in your business. Positioning, channels, and data are your most important market assets.

iv. PRODUCT ASSETS
Most people consider of a product as a collection of tangible goods packaged in some way, such as an iPhone in its box, a bottle of toothpaste at the store, a fancy pen in a particular leather case, or a fashionable piece of apparel in a branded shopping bag. This is a simple viewpoint that ignores the crucial aspects that contribute to a product's worth. Non-physical components have a lot to do with products - the brand identity, the material that the customer consumes before purchase, the positioning, the brand ambassadors, and the personalization they've felt.

V. SYSTEMS ASSETS
With system assets, you can manage your business in a way that is straightforward, repeatable, and predictable. Great companies do not unduly burden their staff with challenges and decisions. If there is already a method for attaining a result, use it again and again. Documents such as operations manuals, scripts, spreadsheets, or PowerPoint decks; checklists that reduce a large work into many tiny pieces; software that automates processes, and machines that move objects around are all examples of systems.

vi. CULTURE ASSETS
The actual litmus test for culture is your capacity to recruit, develop, and retain highly qualified workers while without overpaying  them. Someone is unlikely to leave a well-paying, stable career for a lower-paying position on your fledgling team unless there is something exceptional going on — flexible hours, a training or mentorship program, your team's flat structure and open dynamic, or your organization's goal and principles. All of these magical components comprise the culture, and in order to scale them, they must be meticulously documented.

vii. FUNDING ASSETS
Your funding assets are critical to your company's ability to receive funds to further develop its assets. It is simple to obtain funding if you have the necessary assets in place. If you're purchasing a property, the bank will want independently generated documentation such as paystubs from your employer, a construction inspection from a qualified builder, and a quantity surveyor's report. If you can demonstrate all of these paperwork to the bank, they will most likely grant you the money to buy the property. The same is true for other assets such as stocks, art, bonds, or property. Documentation proving the asset's worth, ownership structure, and serviceability is required by lenders and investors.

This book lays forth a strategy for growing a firm into a valued asset. It focuses on converting organization into something scalable, digital, enjoyable, and impactful. It's time to stand out, scale up, and create a firm with a mind of its own.

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