Two recent experiences have prompted me to look at my businesses more closely in terms of the intellectual property and business assets being generated.
Over the past month, I have been setting up a new business with a colleague, which is based on some unique discoveries we have made about how to be productively creative and creatively productive in a supercharged kind of way. Even in these very early stages of the business, we have been considering what business assets need to be created as if we are to sell it in the future.
The second impetus for my business asset review was running a masterclass on the Mojo of Flow at a conference. In hearing the preceding speaker fail to answer the audience’s questions effectively, and in responding to the audience’s many questions during my class, I realised that my solutions are very different to what most speakers and trainers offer. And that I can pretty much answer any question on this topic – no matter how challenging!
In both situations, the response from people was overwhelmingly positive and encouraging. The feedback is showing up as lots of aha moments and transformational possibilities in ways people didn’t think possible. So, I know I have something of value here!
I can honestly admit that until now, I really haven’t valued that difference that I offer. I am so focused on working with what I know that I rarely put my head up to see how different it is to the normal stuff that is out there. And that is a mistake if we want to develop business assets that set us apart.
Unless you have set up your business as a pretty basic copy of another business idea, you too will have more possibilities than you think when it comes to developing business assets and intellectual property.
Are you growing and protecting your business assets or are you too busy doing the daily basics?
Your business assets include tangible and intangible items such as:
- Databases and social media followers.
- Your website / domain names / business names.
- Confidentiality agreements, patents, trademarks and design copyright.
- Physical assets e.g. stock, property and equipment.
- Sale, franchising or licensing of intellectual property, such as a product, service or business methodology that is unique to your company. (e.g. software)
What else could you create with the assets you have lying about? Your intellectual property can be used in marketing, capital raising, research and development or business development, as well as for sale of your business.
If you are looking to expand or sell your business, is it time to do an intellectual property audit? You may uncover some surprising possibilities!
