In the IT world, there is a common concept known as the Network Audit which typically does a great job of assisting business owners with inventorying their technical assets. Often this includes a list of the hard assets like computers, servers, and networking equipment and the state they are in along with a list of some of the soft assets like software, user lists, and data. However, Measurable Genius believes that audits should be more holistic and cover a much larger array of business assets. This includes understanding the people and processes and online properties like websites and social media profiles.
A business owner had a dream that their business would eventually be self-sustainable but did not know there would be pitfalls and plateaus on their way to that goal. Owners that are partnered with specialists or other strategists who have done process mapping is frustrated with the fact that know one knows what they should be doing next and in what order. The business owner then ends up mediating between the specialists, which none of them are usually on the same page and takes up valuable time of the leader.
When buying a company, it’s about finding hidden value and making sure you are getting access to everything within the business. This includes intellectual property and all IT components. Do you have command of the physical and virtual assets? (Like domains, hosting, security, back up and disaster recovery, 3rd party vendors, offsite storage and many others, etc.)
When selling a business, it is about not giving away assets, or undervaluing their technology assets. Does the client need to hold back intellectual property that’s not a part of the sale? What about a transition and integration plan? How do the assets and services get transferred the most efficiently, who will do this for you and who will be accountable? Measurable Genius can build you a customizable product. Catering to the needs of the seller or buyer to deliver what is unique to each.
A technology audit allows your company to see where the improvements can be made and in what order that should take place. It’s a 3rd party, non-biased review of what assets you have and where you need to be.
The business owner needs a new metric. Measurable Genius’ objective is to reduce operating time in the business to 20%, which frees the owner to tackle on larger challenges or spend more time working on their business. Making your technology more efficient and not frustrating allows you the freedom to work in your business and move it forward.