Leveraging on soft assets in the market

assets, Leverage, Marketing, possibility thinking, Riding the elephant

I have always spoken about “riding the elephant ” a philosophy which is extremely useful when you are a small player trying to get into a new market.

Sometimes you have a  reverse scenario.  You have something “deep ” in the market. It could be relationships withkey customers, some typically solutions which only you have, or a place in a specific location.

I remember there was a time about 20 years back, when the company I used to work for used to do trainings for internal staff. So there were multiple training rooms. These training rooms had servers, individual desktops etc.with individual network connectivity.

Many a times, these training rooms used to be vacant. Since we had already spent capital in setting up these class rooms, if left vacant, they were only getting wasted. At that time we were going through a crunch and had to figure out what other possibilities existed for making profits.

So we went about figuring out who else could need training rooms with the specifications that we had. Necessity is the mother of invention. To utilize the asset we had, we now needed to find a buyer who would use the asset only at times when we didn’t use it.

Jay Abraham is a master at building and utilizing these kind of assets. I used the strategies he lists in his book to figure out how we could leverage. We figured that companies could use these rooms, but not everyone needed the individual computers, so those companies were not willing to pay a worthwhile amount. Then we thought of software companies who need to get trainings done both for their staff and customers.

That was the master stroke. Once we could get a handle of who owned customer trainings in these companies, we showed them the rooms and to top it we offered to take care of 2 meals and tea/coffee during the sessions.

It became so good that some of the people who came for the training then asked us about our primary business and we ended up making some of them, our customers for the main business as well.

This was pure profit because the asset had already been paid for, so increasing the utilization only increased the profits.

Till next time then….leverage on what you have and count the gains

Carpe Diem!!!

Time – Money – Ideal state

assets, Financial Independence, passive income

Most of us end up selling time for money at a broad level. Except for people like authors, actors and people with some kind of intellectual property or investors, most of us, are generally selling time for money. Some might be selling it at a higher value than the others.

I was analysing various phases in my life and what my situation was. There was a time when I was overworked and with less income. We were always in an anxious state of mind. The ideal state where you have the freedom of time and freedom of money is the upper right corner in the picture.

Now I have not reached that situation of the blue box but I have at least moved from the bottom right hand corner box to the upper left. One of the reasons that could happen is because I started doing investments which started working for me in parallel to me selling time for money.

The earlier you can get involved in making investments – not savings (if you don’t know the difference, please see my my posts on financial freedom written in the earlier years) – the earlier you will reach this stage where you will not have to work at the same ratio. Obviously during this time as your experience grows your per hour rate at which you sell time could also grow.

The ideal situation is when you work once and you get paid multiple times over as in the case of movie actors and authors whose royalties keep coming. But for most of us who do not have any intellectual property to our credit – making investments in different types of assets is the only way to create a non linear relationship to time and money, such that your money works for you as hard as you work for the money.

Once your passive income grows to such a level where you don’t have to sell time for money that’s when you would reach the blue box area and have the freedom to do things of your choice. That’s the ideal place where I would like to eventually be, but lets see how it goes.

Reframing the assets that we have

Abundance, assets, constraints, creativity, Leverage, possibility thinking, problem solving, Uncategorized

Inspite of the fact that I write about marketing,  product management,  finance etc. The fact is that I am also learning every day.  While I  have some theories like “Riding the Elephant ” , I am actually a Work in Process.

So when I  come across something which I  have used earlier and I read a book in which a similar  idea is written,  then it becomes a validation of my ideas.

In marketing you will constantly come across constraints.  Actually in life itself,  you will constantly come across constraints.  But in case of marketing,  I have noticed that Murphy’s law decides to become applicable at the most inappropriate times.

At those times you have to be as resourceful as possible.  One of the ways of becoming resourceful is to first identify all the assets at your disposal.

Next see how the same asset can be utilized in a different way.

Third “who” could benefit from the reframed asset and last

How could you benefit from the assets that person  or organization has and then go about showcasing them, about how it could be of mutual benefit to both the concerned parties.

One thing which I  have used very effectively is the spare technical manpower in our company.  I have actually gone and spoken to partners to check if they’re facing technical problems in going to the market. 

We have been able to work with partners because of just this one asset that we have and they can’t afford.  Due to that they take us to the market,  we help them sell and give us all the services.

Sometimes it could be the internal setup or processes or messaging that you have built,  which could be repurchased for the other side, in return for something that they have.

In marketing you always need to keep looking with an abundant mindset of how you could reframe the assets you have to get what you want.

Till next time then.

Carpe Diem!!!