I keep thinking about Dien's suggestion

Hi,

Said suggestion being that we be aware of under-utilized assets.

To me this seems like a crucial determinant of success or failure. I know I'm spending time and money aquiring new assets, while ignoring many of the valuable ones I already have.

Just my two cents.

best,

- Boyd

> Hi,

> Said suggestion being that we be aware of
> under-utilized assets.

> To me this seems like a crucial determinant
> of success or failure. I know I'm spending
> time and money aquiring new assets, while
> ignoring many of the valuable ones I already
> have.

> Just my two cents.

> best,

> - Boyd

Boyd,

How do you know they are assets? Pure and simple if it makes a net profit it is an asset. If it does not make a net profit (i.e. it costs you money) then it is a liability. I know you understand what assets are liabilities are...but the point I'm trying to make is that many of the things we consider to be assets are truly liabilities. Could they become assets with enough time/effort/monies? Possibly but you have to look at the rate of return for the investment.

For example say you have two ideas/concepts/skills that are 'pretend assets' in other words they could be contributing a net income to you--remember though, 'income' could be money, or any number of 'good' things but these apparent assets need additional work to create a net income. Asset #1 needs 5 hours of your time and it will generate 1 unit of net income. Asset #2 needs 2 hours of your time and it will generate 2 units of net income. Obviously #2 is the better investment. The problem being we don't always (make that usually) know how much of an investment is required to turn a pretend asset into a real asset. The other thing is that the ultimate net income of most assets is subject to influences beyond your control. And 80% of your assets will only kick in 20% of your returns. In other words you'll be wasting time and resources on assets that don't really carry their weight as compared to the 20% of the assets that kick butt when it comes to return on investment.

Personally I feel if an asset doesn't prove itself quickly and with no more than a minimum amount of resources there are other assets out there that would garner a better return. Remember you can literally kill yourself trying to create a net postive return on most assets. But only a few assets can lift you to a level of super success so it remains most critical to identify those assets that promise the largest return and then quite frankly ride that horse for as long as you can.

Take care,

Mike Winicki

The Art of Leverage... right after the story of what the Music Companies did... I draw your attention to: underutilised resources.

Mike raised an interesting point about the "cost" to get the word out about your underutilised resources vs the possible return you might get.

Granted, getting the word out could take up a fair bit of time and money for little reward, with some underutilised resources. But the same could be said of any business venture.

That's why we test, analyse the results, make a change, test some more, analyse the results, compare with the first test, make changes, test some more, analyse the results, compare with previous results, etc., etc., etc.

One thing you can try - which I have had profitable success with - is not to try and sell right off the bat, but plant the idea of FUTURE USE.


Dear Friend,

You're a busy person so I'll be brief and to the point.

My name is Michael Ross and I'm with BusinessName. We offer [what you offer - no benefits, just the facts of what you DO]

Should you require our services at any time... either now or in the future... please call. And to make it easier to find our number I've attached a business card to this letter. Please make sure you keep it in a safe place - just in case you need it.

Well, that's all I have to say. I merely wanted to introduce myself and our specialist service to you. To let you know there is a service available to [what you do] should you ever have the need.

Thanks for taking the time to read this.

Cordially,

Michael Ross.

Or you can do something like what Hugh did with his flyers.
http://www.sowpub.com/cgi-bin/forum/webbbs_config.pl?read=8242

The beauty of Hugh's method and my method is: calls come in long after the marketing has taken place.

Both methods are low-pressure. And neither mentions benefits. So those who call are super-qualified because they are able to turn the features into benefits in their own head.

Hope this helps,

Michael Ross.


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