Six Steps To Building BETTER BUSINESS ASSETS

In the journey of asset-building, solving good problems trumps battling bad ones. Dive into six essential steps for building and leveraging effective assets—the game-changer every entrepreneur needs

- ANAND TAMBOLI

On most occasions, when I interact with entrepreneurs and we discuss challenges at hand, the solution they often suggest involves throwing more people at a problem. Are your customers complaining more? Hire more people in the customer support team. Are your accounts not in order? Request a better CA look at the mess. Not making enough sales? Consider hiring more people or modifying incentive structures.

But the thing is, if we view these problems as mere symptoms that point to something critical not in place—our approach will change. In my experience, this missing piece is often an asset that can remove bottlenecks, expedite processes, or bring predictability to the operations.

Getting more people makes sense when you are capitalising on their work, not for a clean-up job, which is clearly an expense. People can only be as good as the systems and tools they use in your business. However, if things are in place, i.e., your business assets are in place, the business will scale in proportion to the number of people working those assets.

So now the key question is: What steps can you take to build those assets? Until the previous article, we discussed various assets, their importance, how they work and help you. But if you were to develop each of them from the ground up— how could you do that? What’s the process? Let’s talk about that...

Prioritise concepts or ideas

As always, all such things start with an idea or a concept. Ideas are fun and exciting, but anyone will tell you that they are worthless.