It’s hard enough to run a small business without the threat of asset-stripping leaving us exposed to the elements. Thankfully our partners at Asset.Guru have got us covered.
For small to medium business owners, no sleep and 25 hour days are par for the course. Getting in front of as many prospective customers, clients or partners as possible is vital and can chew up almost as much time from the day as delivering the service you set out to provide. (I’m actually typing this right now between clients as it’s possibly the only time I’ll have.)
The obvious goals for any business are to pay bills and hopefully make profit. But I’d say the biggest and most undiscussed aim is to create something which adds value to the lives of clients and customers alike, and provides an income in the process. Knowing your potential and using it to bring something of value to people’s lives is the single greatest way to cut through the noise of your competition.
Things being the way they are, essential tasks often get dropped down the list of importance out of necessity. For me, my taxes are done not as soon as they’re able to be but as late as they’re allowed to be. I’m often emailing people at midnight because by the time I’m finally free to make contact it’s usually too late an hour to call. And let’s face it – everybody knows it – admin sucks. Hours relegated to paperwork, digital spreadsheets, receipts and invoices, account-keeping… half of it is still unreliable anyway.
Chris Petersen, CEO of Asset.Guru, asserts that theirs is a service which offers “Freedom from spreadsheet hell” and I’m inclined to agree. “Most people still use Excel spreadsheets to track what they own in their business. However most businesses do not trust what those same spreadsheets contain,” he says. “If this is true, most businesses operate without the most important key data available: their net worth.”
It’s a fact of life that any small to medium business knows absolutely what their liabilities are, specially struggling businesses with debt collectors beating down their doors. These liabilities are bills which need paying, technology which needs updating, equipment which is malfunctioning. However most of these same businesses would have no knowledge of their assets. This is never prioritised as it should be, for the obvious reason that knowing our liabilities demands more immediate focus.
One can appreciate however that if it is our assets which drive our businesses, we can only suffer if they become outdated or aren’t functioning to their maximum potential. It’s when this happens that our liabilities become even more of a demand. They can become our greatest vulnerabilities and leave us exposed to great risk which could close us down. We may face the possibility of running too far into the red and even having our assets stripped, then sold off at a fraction of their value.
No matter your business, whether tech, manual, creative, small, medium or startup, understanding your value – in every sense of the word – is paramount. Asset.Guru distills the essence of the giants of the industry (such as SAP, IBM and Microsoft) to make them applicable and affordable to smaller companies. Their simple on-screen program analyses company assets and breaks down into simple terms which assets are working well, which are outdated, which need replacing, which need to be written off, and their worth, factoring in depreciation.
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For the biggest industry players, what a company is worth is determined by their value on the stock market. For small to medium and startups however, whether it’s for borrowing money, for profit or for possible takeover, Asset.Guru is the “next generation in fixed asset management”, helping companies know what our assets are worth and whether they are working for us in the best possible way.
With Asset.Guru working to break down small Australian businesses’ worth, we can focus on what’s important to us; we can push to make our services a unique part of our customers’ lives. And we can do so, knowing the value of our service and of our company, and knowing that Asset.Guru will minimise the risk of small business owners becoming indecently exposed through having their assets stripped away.
Asset.Guru captures all your existing asset data, allowing you to interrogate in real time. Try it for free here.