What’s Your Business’s most Valuable Asset?

by Shanker Bakshi on June 12, 2009

If you ask me for my business, I will say e-mail and RSS Subscribers base. For a blog like this nothing could be more valuable then having a huge rss subscriber base. You can always count on your RSS readers. It does not matter if they do not visit your blog and read it only through e-mail of through RSS reader’s software/client but I always value a RSS reader. The bigger your RSS Subscriber list is the more worthy your blog would be. As they say money is in the list.

It used to be that a business’s value was measured by its “tangible assets”, now “intangible assets” are usually even more valuable. Tangible assets are like real estate, your car, the cash in your bank, investments, your equipment, etc. They are considered things that you can sell if need be and turn into hard cash. But now, the most valuable asset that any practice, or business for that matter, has is their contact database.

For example, just yesterday I read that Facebook was valued at $10 billion. And the value comes from Facebook’s subscriber database and all their Joint Venture Relationships. You know all those fun and weird applications that are on facebook. Well those are all created by joint venture partners of Facebook. And Facebook profits whenever someone uses those. The point that I really want to to over-stress is this:

[1] Asset Is Your Client Database.

[2] Asset Is Your Business Partner Database.

This is something that cannot be emphasized enough. Usually the first thing we do when we work with our coaching client is evaluate how they are communicating and strengthening their relationship with their client list. And the second thing that is so valuable to assess is how your business contacts and colleagues can work together to get more success.

Here are a few ways that you can stay in touch with your client database to help keep your practice at top of mind:

Email newsletter
Direct mail newsletter
Birthday cards
Christmas cards
Phone calls
Email updates

Learn from mistakes

Better to learn from our own mistakes but the best thing is to learn from others mistakes. Today I’m giving you a chance to learn about how you can avoid 10 most deadly common mistakes that can ruin your business practice. You must know which the common mistakes that people do which devalue their business assets so that you should not repeat them.

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Tagged as: The Internet

{ 16 comments… read them below or add one }

Buy r4ds June 13, 2009 at 6:02 am

I think a customer is amost Valuable Asset to your business. It is the potential contribution of the customer to your business over a period of time. When you know the lifetime value of a customer, you have a benchmark for how much you would or should be willing to invest to acquire a customer.

Curious Little Person June 13, 2009 at 10:47 am

Very true and informative article, will download the report and read it when i get the time

Thanks a ton!

Cheers
Sandeep

Curious Little Person´s last blog post..Monetize your Blog the Right Way

Jacques Snyman | Website Design June 14, 2009 at 5:40 pm

Yup, you sure are right. The money is in the list. Of late the twitter list is also seeming to gain much more importance, with many blogs proudly displaying their twitter followers alongside their RSS reader membership.

Marlene June 14, 2009 at 10:18 pm

I completely agree with you that email and RSS subscriptions are the best tool to help promote your business. I should start creating Christmas and birthday cards to be added to my blog’s income.

Marlene´s last blog post..The Smell He Hates

Buy r4ds June 15, 2009 at 5:29 am: Your most valuable asset doesn’t show up on your balance sheet. Your most valuable asset is your ability or capacity to perform effectively, in a word: POWER!

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blinkky June 16, 2009 at 8:38 am

I think Email newsletter work best. I see many webmasters use this method.

blinkky´s last blog post..Instant Domain Search Sites

Mary Adams June 16, 2009 at 7:37 pm

If you are going to start thinking along these lines, the vocabulary and analytical of intellectual capital is helpful. The three components of IC are:

->Human capital
->Relationship capital
->Structural capital

Hope this post helps: http://www.i-capitaladvisors.com/2009/03/10/intangible-definitions/

Mary Adams´s last blog post..Smarter Companies Chosen for BlogBurst

Ruchi June 17, 2009 at 2:07 am

Customer is indeed the most valualabe asset for any buinsess, and combined with Email newsletter it works the best, will download the report and read it out.

Ruchi´s last blog post..Earn from your Hobby

Shanker Bakshi June 18, 2009 at 5:34 pm: Yes its very useful for Booming your practice.

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wilhb81 June 17, 2009 at 5:37 am

Without customers/clients, our business is going to be bankrupt soon or later. Hence, customers are one of the valuable assets of a long lasting business, Shanker!

wilhb81´s last blog post..Business one-liners 55

Buy r4ds June 17, 2009 at 6:08 am

I am on Wordpress version 2.5. I’ve installed version All in One SEO Pack. When I activate the plugin and visit my blog, I receive the following error:
“Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.” please help me. Thanks.

natural beads June 17, 2009 at 8:32 am

well of course the contact info.

Jacques Snyman | Website Design June 21, 2009 at 4:26 pm

And talking of lists, your 5000th twitter follower has just pushed the “follow” button. Congratulations on the milestone, and may your followers increase exponentially!

Creative Web Design June 22, 2009 at 8:20 pm