Whether you are a large or small business, a solopreneurship, or a nonprofit entity, it is in your best interest to create a business assets inventory.
You may not realize it, but your business or organization undoubtedly has far more assets available to you than you know. Consider these categories:
1) Operational Assets
4) Intellectual Assets
5) Human Assets
6) Hidden Assets
You have assets in each of these categories, but until you make a business assets inventory, many of them will go unnoticed, and worse, unutilized.
Here is some clarification about what sorts of things can go under each category:
1. Operational assets
These are things related to your operation as an entity. Included are things like:
• Financial assets
• Raw materials
• Your physical plant (if you have multiple usable spaces, you can list
• Your social media presence(s)
• Your marketing tools and marketing collateral
• Your manufacturing equipment
• Your Mission and Vision Statement
• Your client/customer list
• Your contact list
• Blog content
• Business plan
• Association memberships
These are the services you provide now as part of your regular operation. List them separately.
These are the things you manufacture or sell. You can list them by category, or individually, depending on how many products you own.
4. Intellectual Assets
This may be your most powerful category. This is the collective expertise and intellectual capital that makes you competitive in the market. Include things such as:
• Industry data
• Analytical methods
• Market awareness
5. Human Assets
If you are a solopreneur like me, then you are chief cook and bottle washer. However, you can list things like the following:
• Your StrengthsFinder ™ strengths
• Your emotional intelligence scores, or Myers-Briggs profile
• Your professional certifications
• Your political persuasion
If you are a larger organization with employees, then you can list the roles you have in your organization, such as:
• Admin support
• HR specialist
• Sales professional
• Finance director
6. Hidden Assets
This category is the most fun for brainstorming. This is where you open the doors on creativity and free thinking, and bring out into the light skills and intellectual capacity your team members have that you never knew about. It does not matter if those skills and attributes have any obvious connection or application to your core business… list them anyway! I’m a business consultant, but in my list of hidden assets you’ll find things like the following:
• Banjo player
• German language proficiency
• Beer and winemaking
In order to present yourself to a potential SPARC partner in a favorable way, you will want to have full knowledge of all of your available assets. This will increase your chances of finding a partner who is a suitable match.
If you have a success story to tell about how you revealed hidden business assets and made the most of them, please add a comment to our blog.