24 Assets

24 Assets Plot Summary

Introduction

In today's rapidly changing digital landscape, some businesses seem to effortlessly attract talented people, loyal customers, and make lots of money. They scale quickly with support from investors, partners, and media. Meanwhile, most entrepreneurs struggle despite working hard, making sacrifices, and striving tirelessly. The difference isn't luck or even pure hustle - it's something more fundamental. This fundamental difference lies in understanding how to transform your organization into something scalable, digital, fun, and capable of making an impact. By focusing on creating an ecosystem of valuable assets, you can build a business that becomes truly valuable - one that stands out, scales up, and eventually develops a life of its own. The time has come to move beyond just working harder to building something that thrives in our fast-changing world.

Chapter 1: Identify Your Core Assets

Every successful business stands on a foundation of core assets that give it unique strength and scalability. Core assets are the elements that would still be valuable without you - they're what make your business an actual asset rather than just a job you've created for yourself. Understanding which assets are most essential to your particular business model is the first critical step toward building something that truly thrives. Google's core assets, for example, are its intellectual property (particularly its algorithms) and its culture (its ability to attract brilliant people who continue innovating at warp speed). If everything else failed, Google could rebuild quickly with these two foundations intact. Similarly, Apple's core assets are its brand and its products. When these faltered in the 1990s, the company nearly died. When Steve Jobs revitalized them with innovative products and the powerful "Think Different" campaign, Apple roared back to become one of the world's most valuable companies. Your core assets might be completely different. For Mike Carter, CEO of BizEquity.com, his core assets were clear from day one: data and algorithms. Before developing other aspects of the business, he went all-in on acquiring 33 million records of data and collaborating with Harvard professors to construct bulletproof valuation algorithms. While his team was small and other business elements were in early stages, these core assets put his company leaps ahead of competitors. To identify your own core assets, ask your customers what matters most when they work with you or what initially drew them to your business. Listen carefully to their answers - they'll reveal what truly sets you apart. Then double down on at least two of these assets and develop them to world-class standards. All assets matter, but your core assets are the linchpins everything else hangs on. Remember that without strong core assets, no business strategy can save you. They're what allow you to meet customer needs in ways that are better, faster, cheaper, or emotionally more rewarding than competitors. The degree to which you can deliver on this is the degree to which your core assets are clearly valuable.

Chapter 2: Transform Intellectual Property into Value

In today's digital economy, intellectual property assets have become the foundation of fast-growth businesses. These assets include ideas formalized into legally protectable property: libraries of text, images, videos, audio files, code, algorithms, and methodologies. Mark Zuckerberg joined the world's richest people by age 30 because of his ideas on how people network online. His wealth came primarily from intangible assets - vast data, patents, algorithms, trademarks, and other digital assets that make up Facebook. Content is the first critical IP asset. When you write articles, record videos, capture images, or create diagrams, you're forced to clarify your thinking while creating scalable assets. Until recently, publishing required gatekeepers' approval, but today, your content can reach a global audience instantly. Google's research shows that people are more likely to buy from businesses that produce content. It's also shareable - when clients love what you do, they can easily recommend you by sharing your content. A remarkable example is Gabriella Rosa, who runs a fertility clinic specializing in couples who have been trying unsuccessfully to conceive for over two years. Her business was once geographically limited to Sydney, Australia. The breakthrough came when she shifted from searching for new marketing tools to creating powerful assets - developing video content, designing her 11-Pillars methodology, documenting client case studies, scripting customer service responses, and building unique systems. These assets attracted more clients, who discovered her through content posted on Facebook, YouTube, and information-rich emails. To transform your own IP into value, start by collecting all your existing content - blogs, articles, images, videos - into organized directories. Then produce a professional report showcasing your ideas, stories, and methods. Create shared folders for media assets your team can access. Register your intellectual property, including trademarks and domain names, even for social platforms you don't yet use. Finally, consult with an IP lawyer about what your business could potentially register and own. The value of intellectual property extends far beyond traditional business assets. As Clive Rich, a barrister who's handled over £10 billion in music and entertainment deals, notes: "Intellectual property is everywhere in your business and deserves to be discovered, valued and protected. Your intellectual property could one day be worth more to you than bricks and mortar."

Chapter 3: Build Brand and Market Assets

In our world of endless choices and countless suppliers, a trusted brand has become more valuable than ever. Consider how brand impacts even commoditized products: a Victorinox Swiss Army knife retails around £50, while a comparable generic multi-tool sells for about £10. Calvin Klein underwear costs £25, while nearly identical unbranded versions sell for £6. The most recognized brand in any category can typically charge four to five times more than an equally reliable generic version. Behind every great brand is a distinctive philosophy that sets it apart. At Dent Global, the core values are "be brave, have fun, make a dent." These values appear throughout their websites, materials, and social media. They make videos about them and discuss what they mean with clients. During performance reviews, team members are scored on their levels of bravery, fun, and impact. This philosophy is so distinctive that Google searches for "be brave, have fun, make a dent" return pages of information about Dent Global. Paul Lindley built Ella's Kitchen into a £50+ million business in under seven years based on the brand values of "healthy, handy and fun." From day one, they approached Ella's Kitchen as a brand that needed building. Whether attracting customers, stockists, or staff, they wanted people to embrace their philosophy. They captured a large market share because of their brand, and though competitors tried to copy their products, none achieved a brand that was equally loved. To build your own powerful brand assets, start by documenting three unique philosophies about your industry and publishing them on your website. Develop consistent visual identity elements - remember that consistency beats cleverness when it comes to branding. Find ambassadors who embody your philosophy, whether through sponsorships, endorsements, or events. Rob Gardner sponsored university rowing teams at Oxford and Cambridge when Redington was still relatively small, gaining a steady stream of bright graduates, powerful marketing images, and alignment with values like teamwork, timing, and balance. Market assets allow you to communicate, sell products, and disseminate ideas to the right people quickly and powerfully. Position yourself through awards, accreditations, associations, and acknowledgments from authorities in your industry. Develop channels to market - both owned channels like your social media accounts and earned channels through partnerships. Finally, collect and leverage data that allows you to create personalized relationships with customers at scale, following British Airways' example of using customer preferences to create delightful, customized experiences.

Chapter 4: Develop Scalable Products and Systems

Most people think of products as physical items with packaging, but a more useful definition is "a replaceable and consistent way of achieving a desired outcome that your customer wants." Products have many non-physical elements - brand identity, content that buyers consume before purchase, positioning, ambassadors, and customization. When a service has a name, distinctive elements, a standardized delivery method, and a brochure describing it elegantly, it starts to function like a product and scale accordingly. The most successful businesses don't rely on a single product but develop a complete ecosystem with four types of products. First are gifts - completely free offerings that capture attention, such as reports, podcasts, or videos that highlight problems your business can solve. Second are products-for-prospects (P4P) - typically the first purchase a customer makes, building trust and offering quick wins while setting the scene for further engagement. Third is your core product - your main revenue source and what your business is known for. Finally, products-for-clients (P4C) extend the customer journey, addressing ongoing needs and often providing recurring revenue. Apple's transformation between 1998 and 2013 demonstrates this ecosystem perfectly. Steve Jobs gave away iTunes as a gift to PC users, made the iPod the ideal first Apple purchase (P4P), established computers and devices linked with iCloud as the core business, then generated highly profitable content and media sales (P4C). This ecosystem approach took Apple from near bankruptcy to becoming the world's most successful company. Systems assets make your business simple, repeatable, and predictable to run. Amazon exemplifies systems excellence with innovations like one-click purchasing, affiliate portals, and recommendation engines. Its warehouses operate with robotic efficiency, delighting customers when purchases arrive within 24 hours. Even small businesses can punch above their weight with carefully crafted systems that handle marketing, sales, management, administration, and operations. To develop your own systems assets, start by creating a highly targeted Facebook ad campaign that consistently produces quality leads at an acceptable price. Generate automatic monthly reports showing team performance. Systematize email sequences for new clients to make them feel valued. Remember that systems aren't meant to replace people but to make life easier for everyone involved - your team, your customers, and yourself.

Chapter 5: Create Culture and Funding Foundations

The true test of culture is your ability to attract, develop, and retain highly skilled employees without paying above market rates. People leave secure, well-paying positions for your company when something special is happening - flexible hours, exceptional training, an open team dynamic, or inspiring vision and values. To scale these elements, you need documented assets like job descriptions, accountability charts, and workplace contracts, alongside more advanced assets like videos explaining vision and values, onboarding programs, and performance review structures. Sir Richard Branson's ability to hire top CEOs to lead various Virgin Group divisions demonstrates the power of culture assets. Regularly, senior executives leave stable, high-paying positions to work with Branson, often taking pay cuts to do so. Businesses with strong Key People of Influence consistently outperform those without them. These leaders solve problems, attract A-players, and grow businesses faster than founders could alone. Julia Langkraehr, who built a retail business in over 1,000 locations across Europe before founding the consultancy Bold Clarity, emphasizes that high-performance culture goes beyond superficial perks: "Culture is often confused with having free food, beanbags and office dogs. High-performance culture has a lot more to do with the way the team interacts, the quality of people who stay, the quality of people who leave, and the clarity each person has for their role." Funding assets are equally crucial - they're how your business accesses money to develop further. Just as banks require independently produced documents when lending for home purchases, investors want professional documentation proving your business's value. Key funding assets include a professionally created Business Plan, an independent valuation, appropriate business structure, and risk mitigation strategies. Jeremy Harbour, who has bought and sold over 50 companies, notes that billions of investment dollars are seeking opportunities each year: "The problem is often that entrepreneurs fail to present their business as a suitable investment. Small companies appear risky, illiquid and unable to handle invested funds. When you can solve those problems, there's no shortage of funds available." To strengthen your funding foundation, get a professional business valuation, hire someone outside your company to write a Business Plan and forecast, consult with accountants and lawyers about improving your structure and legal agreements, and strengthen your Board of Directors by appointing experienced individuals with good reputations.

Chapter 6: Ride the Wave of Digital Transformation

We stand at a turning point in history, with five mega-trends converging to create unprecedented transformation. First, aging Baby Boomers are shifting from being economic drivers to requiring increased social welfare and healthcare. Second, Millennials are breaking traditional patterns - marrying later, prioritizing experiences over ownership, and embracing digital-first lifestyles. Third, technology unemployment is accelerating as artificial intelligence replaces not just manual labor but knowledge work. Fourth, governments face austerity challenges as digital companies easily move across borders. Fifth, ecological challenges demand urgent solutions. These converging trends create a massive wave transforming how the world lives, works, and shares wealth. Some businesses will surf this wave while others will be swept away. To ride it successfully, you need to position your business for the digital economy by developing all 24 assets to a remarkable level. You also need to become a Key Person of Influence - someone known, liked, and trusted in your industry. Tim Ferriss, Gary Vaynerchuk, and Michelle Mone exemplify this approach - they're recession-proof, disruption-proof trend surfers whose only real threats are self-inflicted errors. You don't need millions of followers to achieve this; building a reputation with a few thousand people who engage with your content and buy your products creates stability in these volatile times. To accelerate your business, become campaign-driven with weekly LAPS (leads, appointments, presentations, and sales), quarterly campaigns generating buzz, and annual big messages that differentiate you from competitors. As you run these campaigns, capture the assets they create and put them online. For several years, you might feel like you're constantly paddling hard, but keep going - as your assets build, you're closer than you think to catching the wave. The ultimate goal isn't just business success but solving meaningful problems. The United Nations has identified 17 Global Goals addressing environmental challenges, human rights, education, and more. Selecting one of these goals for your business to champion creates purpose beyond profit. Organizations like B1G1.org (Buy One, Give One) facilitate this by connecting businesses with projects worldwide, allowing you to factor giving into every sale. As your business grows, so does your impact, creating a virtuous cycle of success and contribution.

Chapter 7: Construct Your Asset Creation Cycle

Asset creation follows a predictable cycle to become truly remarkable, and each of your 24 assets must go through this process. While ideas receive much attention, they're essentially worthless until taken through a long, arduous journey of development. Microsoft had the concept for the iPad long before Apple but didn't execute the asset creation cycle as effectively. The first step is generating concepts and ideas. James Altucher, author of Choose Yourself, suggests that "if you can't come up with 10 ideas, you should come up with 20." Remove pressure and generate volume before judging quality. Next, construct a detailed briefing document for suppliers - include examples of work you admire, screen recordings of websites you like, and slides about your target audience. When selecting suppliers, don't try to build everything yourself - it rarely works. Present your briefing document and be open to their input. Working with suppliers slightly beyond your current league helps elevate your standards. Great suppliers also make it easier to secure funding, as investors are reassured by wise partner choices. Despite your best efforts, the first outcome - the beta version - will likely be underwhelming. This is normal and expected. The iPhone's first 2007 release had numerous flaws, including short battery life and software bugs. The purpose of a beta version is to gather market feedback quickly and implement improvements. Return to the briefing phase, list needed changes, and work with suppliers on a revised version. After this reinvention, you'll reach the commercial version - one that works as promised and begins paying for itself. However, the temptation at this point is to stop and move to new ideas. Resist this urge. Continue refining until you reach the remarkable version that truly stands out. Today's iPhone is regarded as history's most successful product - a pocket supercomputer with hundreds of thousands of apps, seamless cloud integration, and stunning design. When you create truly remarkable assets, word-of-mouth marketing reduces your costs while increasing profits. To build a remarkable business, all 24 assets must go through this cycle. Conduct quarterly inspections looking for anything less than remarkable. Become a connoisseur of remarkable businesses, studying what makes them special. When seeking inspiration, look to industries unlike your own - when Daniel Priestley created his Key Person of Influence Accelerator, he studied Cirque du Soleil and Les Misérables to understand how to run consistent experiences across multiple cities with different cast members. Building a truly valuable business is challenging, which is precisely why successful companies sell for large sums - if it were easy, buyers would simply create their own. Find people who can help you, as success depends less on individual talent and more on the environment that brings out your best. As you implement these ideas, resist the urge to constantly seek new information. Instead, go deep with this approach, immersing yourself fully in the process of building your asset ecosystem.

Summary

Revenue, profit, scale, valuation, fun, and freedom all follow assets. Imagine having all 24 assets functioning at a remarkable level - professional videos driving sales every week, brand guidelines ensuring perfect messaging, talented people competing for positions on your team, and a business plan and valuation allowing you to raise capital without losing control. This is what a business built on digital assets feels like - as solid as a house, as predictable as rental property, as flexible as owning shares, and as scalable as a website. The desire for a smooth road makes people feel every little bump. Once you accept that building a valuable business takes time and effort, the journey suddenly seems more manageable - especially with a good map. As Daniel Priestley writes, "In all the valuable areas of life there are strategies that work, best practices to follow and philosophies to learn from, but ultimately it takes effort, creativity and commitment to get rewards." The 24 Assets approach gives you the framework to focus your energy across the key areas that truly build value in today's digital economy. Now is the time to begin building your ecosystem of digital assets that will scale, add value, and create stability. Start by identifying your core assets, then systematically develop the others. Remember that you're not just building a business - you're creating something that can impact the world. As the book concludes: "Be brave. Have fun. Make a dent."

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