Asset Cataloging

Asset management is about taking stock of:

• Things that you own or control that you might be able to leverage without spending a lot of money,
• Things that you have evaluated for quality and relevance and pass both tests.

The resource assessment is complementary to technology requirements. It puts flesh on the bones of processes and actors that are not technology related. Asset management is more about proof than potential. In terms of engaging a developer, it’s the resources you bring to the table that cut back on the cost incurred on the developer side. Every quality resource you are able to bring to the project saves you in consulting dollars.

What have you got?

You approach the inventory process from the perspective of your project plan – its aim, its components, its feedback loops and its expansion needs – as it applies to your time, talents, assets and liquid capital.

Always start with what you already have at your disposal - what do you not need to buy, learn or do because you’ve already done it before. All of this represents your owner equity – what value you are investing into the project, even if its concrete value is hard to state. Much of this stuff will be hard to put a dollar value on until you see how it fits into the grander scheme of your project.

At first glance, it can be attractive to start over fresh and leave the past behind, but it really is important to take stock of everything you’ve got. Usually the developer you work with can offer insight or ideas on how things you have misgivings about might still fit into the plan.

If you can gather your assets together in a categorized list, that’s a great first step. From a developer perspective, there are some pretty universal categories to catalog. A possible setup could be:

• Tech/Virtual Resources
  • Tools
    • Proprietary Software
    • Online Services
    • Social Media Accounts
  • Supplies
    • Computing Hardware
    • Digitizing Hardware
    • Virtual Assistants
    • Virtual Robots
    • Online Storage
    • Online Streaming
    • Content Delivery Networks
    • Advertising Channels
    • Business Treasury (Less Owner Equity)
  • Inventory
    • Design Files
    • Font Licenses
    • Product Images
    • Stock Images
    • Multimedia Files
    • Color Palettes
    • Digital Entity Claims
    • Domain Names
• Physical Resources
  • Tools
    • Workshop Tools
    • Transportation
  • Time/Talent
    • Family Members
    • Volunteers
    • Employees
  • Supplies
    • Raw Materials and Vendors
    • Freight Accounts and Supplies
    • Banking and Legal Forms
    • Local Licenses and Bonds
    • Internal Time Schedule
  • Inventory
    • Product Inventory
    • Support Staff Time
    • Client Facing Time

This is just a basic example. Depending on your industry you may need more or fewer categories than these.

The point to take away from this example is that a lot of these things are not just tangible property or things that you own. A lot of resources are things you already have for some other reason and might just repurpose.

What is the asset good for and is it being used?

With each of these items, you need to figure out how much of it you have control over, how accessible it is and how serviceable it is – either in the project you run now, or other older projects you are migrating from.

Next, with your plan in front of you, take note of any frustration, shortcomings or limitations you may have encountered when dealing with these resources in the past. It may be possible to work through those frustrations and consider alternatives that will accomplish the same thing, but at less cost or less headaches.

All the material context – the circumstances surrounding the business proposition you have – need to be gone over like picking through the garage sale of your past, bringing forward things that are inspirational, usable and/or good enough for now based on the vision you have for the future.

You will likely end up with items that have a percent utilization and a ready or not ready status in your list. Keep your master list and the breakaway lists of items that are not good fits for this project or not ready – they may be good for something later on.

In the meantime, armed with the list of virtual and physical warehouse of things you have at your disposal, it’s time to match that against your vision and work out the strategic blueprint that will tie those assets to your vision and give each one a job.

Last modified on Sep 3, 2023 (2 years ago)