Rethink Your Business And Reimagine Your Future

Rethink Your Business And Reimagine Your Future

For the last few years, it’s been a common refrain that the pace of change has been accelerating. Then along comes something like Covid-19 and reminds us that there’s “change” and then there’s “CHANGE”. What we are facing now is REAL change. Change that will have long-lasting and deep implications for us all.

If we look specifically at the world we inhabit – business – the changes will be huge. Business models will be made and broken. Some companies will thrive, many will survive, and an unfortunate number will fail. The ability to respond to this change is going to be a key factor in determining which group you end up in. As the quote attributed to Darwin goes: “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”

Intangible assets enable a business to change more rapidly. They are by definition light, mobile and scalable. That’s what enables their a) flexibility and b) drives their growth. This flexibility allows you to survive the storm and the growth enables you to accelerate when we come out the other end of this dark tunnel.

Read also: Fight for Your Intangible Assets

As was outlined in our recent webinar, your intangible assets can enable you to take advantage of new opportunities and, by understanding the assets that you have, to mitigate risk.  The key take-outs we’d like you to remember to include: 

  • Leverage & diversify away from the physical:
    Now more than ever, it’s important to identify and leverage your intangible assets more effectively. If you can’t ship products or services, then why not ship intangible assets?

  • Get ready to scale when the lights come back on:
    When the world comes back online it will do so with a rush of pent up demand: physical assets simply cannot scale at the speed required but intangible asset-based businesses can. Are you ready to scale those assets?

  • Value is more than cashflow:
    Just because cashflow has collapsed doesn’t mean your technology or business is worth zero. If I had invented the cure for COVID-19 virus yesterday and hadn’t sold a single vial yet, would anyone really tell me it’s worth nothing? Your R&D, your innovations, your new product designs, your data, your software, your brand, and networks – that’s where the true value is. The statement ‘cash is King’ is true, but intangibles are the future.

  • There’s always value, even in a shipwreck:
    Don’t let the banks and accountants fool you: even if everything goes wrong and you end up on the rocks – if you’re careful, there is still value to salvage. In 2009 Nortel went bankrupt: all its physical assets were sold for $3.2B. The last assets to be sold were its patents, noted at $31M on the balance sheet. They were sold for $4.5B – more the entire rest of the company combined. There’s ALWAYS value there – you just need to find it.

In short, now is the time to rethink your business and re-imagine your future.

This article is written by EverEdge Global.

Read also: Patents and Trade Secrets: A Dual Strategy for Business Growth

IPOS International helps enterprises and industries use IP and intangible assets for business growth. To learn how you can leverage on your IP, book a complimentary chat session on your intangible assets with us today.

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Posted on: 4 June 2020