In talking to some newspapers recently, I’ve started challenging people to think about what their real asset is.
As information becomes more and more commoditised, and price is no longer the differentiator it once was, rethinking what a business’ real asset is has become critical. More often than not, the real asset is the thing that you can’t take away.
For newspapers: If a newspaper thinks its asset is the delivery of news, what happens when someone can deliver it faster, sooner, more individualised? The real asset is the ability to gather the news. A local newspaper knows its local community like few others do.
For restaurants: AJ Bombers had 161 people check in on Foursquare simultaneously – not for the food, but to unlock a badge. The asset was a geographical location where people can connect.
For retailers: Threadless sells limited crowd-sourced T-shirts. Over $30 million later, is their asset T-shirts, or their ability to crowd-source from their community?
For brands: Google is no longer just about search. Facebook is no longer just about friends. The asset is the integration of their products’ experience into everyday life.
For Like Minds: Is our asset a conference? Or is it a community? Long after the conference is over, the community is our asset that other conferences can’t compete on.
What is your real asset? What is the thing that stays when everything else is taken away?