The next most important area to look at now we own the business is the current assets. Both digital and physical. This is why you need to do an Asset Audit in the first 90 days of ownership. To be honest if you can, do it in due diligence. Here are my top categories to audit. You are looking to see what the company has but also where you can add/create new assets that add value. People Assets - Organisation Chart / Position Contracts / Appraisal Process / Recruitment & Onboarding System • Product Assets - Sales brochures / Quality Photos / • Marketing Assets - CRM System / Clear Customer Journey / Client Testimonials / Videos / Sales Funnels • Brand Assets - Brand Bible / Social Media Accounts / Endorsements / Books • Financial Assets - Balance Sheet / Financial Forecasts / Budgeting tools / Scorecards / Dashboards • IP Assets - Trademark Protections / Patents / Licensing Agreements As you look to scale the businesses these assets become critical to building the balance sheet value. Remember that cash follows the creation of the right kind of asset. Map out a 90 day plan to create critical missing assets. Documenting the current processes in the business is the next important step. There are some great software tools for this. Here is a link to a free 1hr Training on using systems to save 15hrs a week: https://www.paulavins.com/airmanualwebinar As AI starts to help us automate tasks, we need to look for opportunities to harness its power to save time and money. L = Leadership and Leverage
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