When you think of asset management the first thing that comes to mind is probably hard assets and cash.  Some examples of hard assets for a small business include inventory, machinery, buildings and property.  When we think of cash we usually think of accounts receivables and investments. Companies that are in a Business Development or Turnaround Management environment tend to focus on these hard assets.

Asset management can also reach other nontraditional, off balance sheet definitions.  Employees are one of the biggest off balance sheet asset most small business require.  Employees and their related compensation, benefits, work environments, tools and motivation all require proper management.  

What about your web site, marketing plans and search engine optimization plans? These all require an investment in asset management.  Simply having a web site or a store front is not proper asset management.  The internet is constantly changing and search engine criteria changes on a daily basis.  Having the proper tools to measure web site activity and identify how to target buying customers involves more than just publishing a web site.

How valuable is the business information you maintain on your network or computer system?  You may have the hardware and related software as an asset on your balance sheet but is there a debit on the balance sheet for the actual information?  What is the cost of a virus infection on your network, not having your data backed up, or not providing your sales force with the proper tools to close a deal?  Are these all costs that get expensed on a monthly basis or are these investments in information assets?  

From a traditional financial perspective, these off balance sheet assets are viewed of as expenses. A necessary cost for the company, and not an asset that provides opportunity for growth.  Yield Business Solutions has tailored its small business consulting services to focus on the”Yields” of nontraditional assets and not the cost of them.  YBS consults businesses to better manage their traditional and nontraditional assets, to produce future economic benefits and not merely to sustain a position.  

Organizations in a Business Development or Turn around Management position have similar needs with regard to asset management.  Whether it is for additional wealth accumulation for a new or existing business or retention of existing assets in a challenging business environment retaining control over business assets is extremely important.  Managing and utilizing these assets to produce maximum yields will translate into a much greater opportunity for success in any small business.