Are You Sitting On Your Assets?
March 4, 2009
I went to go buy a pair of new boots the other day and was slightly frustrated that I could not find any. The saleslady was very sweet and offered to call around to see if she could find me a pair at another store. I thought about it for a second and then declined the offer. I remembered that I had several pairs of perfectly good black shoes at home I had never worn.
So this is where sitting on your assets comes in. We all have tons of STUFF sitting around our homes that we either never use or just don’t need. On some level this stuff has a value and we are wasting it by not using the items. While I do not believe in shrinking or pulling back from starting a business at this time I do believe in being smarter about your finances. All that stuff you are sitting on could be used by you, sold and or given to someone that really needs it. But if it just stays tucked away in a closet it’s worthless and actually costs you money in what we call opportunity costs.
Something that you probably have not thought about are the mental assets that you are sitting on. There are skills, abilities and knowledge that you possess that can benefit another person. If you were to put your mental assets into a product you could capitalize on your inherent abilities. Information products are some of the easiest to turn into a workable cash flow stream. They usually do not require the same infrastructure as a durable good to produce.
Think about the different talents that you have, the things that people commonly ask you questions on, and the subjects that you studied in school or have become highly efficient at in your career. Can you put that information together into a usable form? Jot down your ideas and start to organize your material. Make a commitment to yourself to work on the product for a set period of time each day or week.
In a short period of time you will have been able to take one of your mental assets and use it to better your situation. Regardless of what the economy is doing there are always possibilities and there is always room in the marketplace for people who fill a definite need with a superior service or product. Just remember to get started right away and not put it on your “I’ll do it tomorrow list.” Do it now.
Christina Helwig
www.GlobalSuccessILG.com
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