Assessing Your Assets

Have you ever considered taking an inventory of your “business” at year-end?

What are your really valuable “assets” (not in the accounting sense) and what is the balance that you are carrying at year-end? You might want to prepare a list of such “assets” for assessing where you are, determining what you need to grow such assets, and monitoring progress throughout the year.

An Entrepreneur might consider certain goods and services, pertinent technology, engaged and high-performing employees, key clients, reliable suppliers, valuable advisors, and so on as core “assets” to run a successful business.

Taking inventory of these assets at year-end, and planning on how to increase them in the coming year could be a key component of your annual plan. Measuring your assets at the end of the next year would determine your performance in this area.

Do the Right Things!

Ravi Patel


Published in: on December 19, 2017 at 4:27 am  Leave a Comment  
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A New Beginning

As you take on 2015, it is time to take a “Balance Sheet Review” of your business; not the true accounting numbers kind, but philosophically similar.

Entrepreneurs should evaluate their “assets” in the business – products/services, people, customers, processes, etc. This should establish the strengths of your business to either build upon or further improve in 2015.

A determination of your “liabilities” will give you an idea of the weaknesses that need to be focused on in 2015. These “liabilities” need to be mitigated or converted to “assets” so that you can utilize them for success during the year.

By performing a “Balance Sheet Review,” Entrepreneurs can set their priorities and goals for 2015 – a new beginning!

Ravi Patel

Published in: on December 30, 2014 at 4:07 am  Leave a Comment  
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