Book review, executive summary and the full list of 24 Assets.
Do you want to know what the 24 Assets are before buying the book?
Splento isn’t in the business of writing book reviews, but we loved Daniel Priestley’s book “24 Assets: Create a digital, scalable, valuable and fun business that will thrive in a fast changing world“ a lot and so we wanted to share the main learnings from it with our readers.
Of course, if you are not aware of all the assets your business already has and other assets it needs to develop, then you will not be able to effectively grow your business. Most entrepreneurs are building a businesses that aren’t worth much long-term – they make sales, they derive a regular income and they grow year upon year, but when they decide to take a long holiday or move on, they realise their business doesn’t have any value without them.
Furthermore, we’ve searched all over the internet for a simple summary with all the 24 Assets listed in it and couldn’t find anything. So to help you on your entrepreneurial journey here is the full list of 24 Assets:
FUNDING ASSETS: the business is able to raise capital or borrow money on better terms than its competitors.
- Business plan
- Valuation
- Structure
- Risk Mitigation
CULTURE ASSETS: the business is able to attract, retain, develop and manage great people at a lower cost than its competitors.
- Key People of Influence: Management & Admin
- Marketing & Sales
- Technicians
SYSTEMS ASSETS: the business has a set of systems and processes that allow it to run more efficiently than its rivals while still delivering the same or better quality.
- Marketing & Sales
- Management & Admin
- Operations
PRODUCT ASSETS: the business has created unique products and services that are either difficult to replicate or difficult to compete with.
- Gifts
- Product for Prospects (P4P)
- Core Product
- Products for Clients (P4C)
MARKET ASSETS: the business can sell products, disseminate ideas or be present to a large group of potential buyers faster and more cheaply than others in the same market.
- Position
- Channels
- Data
BRAND ASSETS: the business known, liked and trusted by a loyal group of fans who are unlikely to switch to a new brand.
- Philosophy
- Identity
- Ambassadors
IP ASSETS: the business lays claim to, or is known for, valuable ideas, methods or defensible intellectual property rights.
- Content
- Methodology
- Registered
Of course, we would highly recommend you read the entire book, but there are a few quotes from the book we wanted to bring to your attention that we think can wholeheartedly support:
Chapter 4: Change your thinking
“My instincts have now completely shifted. The old me would never have spent money on high-quality video production… unless I could see an immediate uplift in sales or decrease in cost. The new me is constantly looking for ways to or acquire a new asset that will add value for years. Rather than making a sales call, I will make a high quality video that trains people about our sales approach… Rather than negotiating hard for cheaper suppliers, I push to work with the best suppliers I can afford”.
Chapter 6: Intellectual property assets
“Content is King in today’s digital world – text, images and multi-media. The content you create differentiates you and allows people to get to know your business. Content clarifies your thinking – when you write an article, record a video/audio or capture an image or a diagram, you are forced to focus on what you want to share with your audience. Content is scalable… Content is cheap to produce… Research from Google shows that people.. are more likely to buy from businesses or individuals that produce content. It’s shareable – when you have a client who absolutely loves what you do, the easiest and most wide reaching way for them to recommend your business is to refer to your content.”
Chapter 10: Systems assets
“The important assets you’ll need to plug in are images, marketing copy, video, audio and the targeting criteria”.
Chapter 11: Culture assets
“Sales and marketing people leverage the other assets like content, data, branding and great products in order to succeed. Even the best people can’t sell a second rate product with a dull brand. Have great assets in your company – powerful ads, landing pages, videos, case studies – will attract top performers in the sales and marketing roles”.
Chapter 13: What are your core assets
“On the webpage is information about the family that owns and runs the farm, a video series about their farming philosophy…”
Chapter 14: Building assets
“Each month I go into a London studio and record 90 minutes of interview questions… This one activity produces dozens of video assets that we use for marketing, team training and adding value to clients”.
“If an entrepreneur is trying to save money by working with average suppliers, or worse, doing everything themselves, they are building a business that isn’t worth anything long-term. This is painful. It means they can sacrifice decades of their lives without payoff. When you work with great suppliers, you build more valuable assets faster.”
Chapter 17: Great waves
“Millions of people will flock to the certainty of a known, liked and trusted individual who can be accessed across platforms such as video, audio, blogs, books, profiles and updates – digital assets”.
Chapter 18: Surf or get dumped
“If you build a reputation with a few thousands people who watch your videos, read your blogs, and buy your products and services, you’ll feel solid in these remarkable times”.
Why have we listed all these quotes? Because Splento creates amazing videos all over the world for clients of different shapes and sizes and we would love to help you too! Drop us a line at splento(at)splento.com or give us a call (find you local office in the footer of our website).
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