Intellectual Assets Ten Ways to Create Intellectual Assets Data | Business-Accelerated®

Intellectual Assets

By ellenjharris | Blog

Sep 03
Intellectual Assets

10 ways to create Intellectual Asset data in business

Intellectual Assets expand your business portfolio. What techniques do you use in your business?

Do you add notes into your daily calendar?

Are you only using your proforma?

With a checklist, you can begin to create and extract better data from your business.

Set Expectations

1. What steps do you ask customers and clients to complete before beginning your program?

– When new customers or clients enter your business, you can increase their positive impressions of you when you have a system that everyone follows.

– Clients entering your business should follow your program. The process can be mandatory because, like an orientation, you want your program to set expectations.

– You want clients to know what to expect from you. You want people to know what you expect from them. Establish parameters early in the process so people know what to expect and when.

2. How many hours do you set aside to document the outcomes your clients achieve?

– Clients bring unique perspectives to what they will learn. How they learn what you are teaching is data you can document. Your structure should not change while your course is in progress. Document what needs to change for updates later. When your program ends modify your adjustment for the next set of clients.

– When your clients transition from one learning module to the next take a brief survey. The survey helps you measure client progression. You want your clients to achieve the transformation you promise.

– The outcomes your clients achieve is a set of Intellectual Assets. It is the social proof that your clients experience actual results. You measure your client progression as well as measuring your progression too.

3. When you complete a contract, do you debrief yourself and your team about what works, what needs to improve, what to include/exclude in the next program?

– You want to develop a habit of conducting debriefs as soon as possible. It is easy to forget if you try to debrief later. You do not want to risk forgetting details important to your overall process.

– When you take time to debrief you benchmark your program’s effectiveness. You create a side effect of more efficiency in the business.

– Your ability to help program participants achieve their goals sooner, quicker, faster increases dramatically. Your programs create easy to understand, easy to use systems that accelerate their learning.

Refine Results

4. Prospective clients want to see what tangible results are possible. Do you include your results in your marketing that potential customers can achieve?

– Tracking client outcomes help you discover unexpected results you did not document. It is easy to miss unexpected results if you do not ask. You know what helps people transform but individual actual transformations help you add more value to your program.

– Prospective clients read about your program’s results. They wonder whether your program is right for them. When past participants share individual results you immediately observe results are not the same for everyone. What a participant puts into the work determines how well your transformational program will help them.

– Most noteworthy, marketing can make it is easy to succumb to tactics to attract prospects into a program. The truth of what results look like is more effective when told in plain words. Adding extras is not necessary. When you keep to what actually occurs you mitigate the risk of having a prospect disbelieve your offer.

5. How often do you update your work?

– Your programs, products, and services portfolio should be current. Above all, they should reflect changes in how things are accomplished in the real world in real time.

– Industry shifts comparing what works today as opposed to yesterday adds contrast. Test your program’s viability. Update your program as often as is necessary to maintain freshness in your work.

– As you refresh your programs you will find it easier to re-value each segment. Value pricing adds effectiveness to your program. Your prices should demonstrate changes in value in your overall portfolio because it adds to the overall valuation of your business.

6. How do you quantify your results?

– Expressing a value for a particular segment of what you offer is effective when you are quantifying your results. The total picture of your results portfolio becomes your value-add to the intellectual asset.

– You can add quantities to support your expertise. Consider your length of time in business, the total number of people served with your business, how many of your clients achieved extraordinary results, how many accounts are still with your since you started. Adding a few of these statistics helps improve your conversions.

– It is important you express true metrics. Some of your numbers will show up in your marketing. When you are factual, you mitigate your risks in not being able to substantiate your claims.

Timely Programs

7. When do you include a client feedback or a quiz as a client moves through your program?

– First of all, these feedback elements do not have to be lengthy. Three questions at most can test the success of what you teach. A quiz reinforces learning. Try to include fun along the way. Remember you are not creating a final exam.

– Secondly, your feedback collection should be brief. One of your questions can include an open question so the answers are in free form. Survey Monkey gives you this option. You can limit the number of characters avoiding character overruns.

– Developing two well-designed questions and one open-ended question is enough for you to achieve your goals. An easy thought-provoking question in the context of your program will bring you the data you want. A side benefit is you will have the chance to evaluate your presentation. You will also increase your intellectual assets.

8. How often do you retire or re-release a program?

– Most professionals run a program for a season. When a season ends, so does an active program. As a result, the program returns with additional content or new content. There are a few reasons for using this technique. Use it to evaluate the existing programs for content, delivery, and efficiency.

– You can run a program for a limited time. For instance, reintroduce it again in 90 days. It does not help you to use this technique without acquiring the necessary data to evaluate what you are doing, how your programs perform and measure the results.

– You need a system that provides you with more details about what works for your business. Many experts build this technique into their program while they create. It is not hard to do. You want to insert the points where it makes sense to begin collecting relevant data.

Policies and Progress

9. When do you update your customer service policy?

– All your clients and customers teach you something about your business. You discover gaps in your delivery. You uncover areas you did not cover when you first defined your customer service.

– How you serve your clients is a high-value activity you want to document so when your future hires arrive they follow the same process as your existing hires. Each time you uncover something new update your customer service policy.

– Customer service is your opportunity to shine with your audience. Helping them feel connected and special. Consequently, feeling connected and special are core ingredients to repeat business. For that reason, you want to add to your Intellectual Assets. Better still, you can rationalize intellectual assets.

10. When do you document a client’s progress?

– Preparing a client progress report is a way of codifying how a client advances in the program from start to finish. It provides closure to the client. It reinforces for them that their investment is well spent.

– Progress reports maintain an ongoing relationship with a client who may be willing to refer you to those they know. Friends, family, and colleagues are more willing to consider their recommendation.

– If you use a quiz, include the results in your report. A quiz result quantifies the scale for the client. You reinforce for them how they performed in your program.

What are intellectual assets? Sometimes they are not easy to unpack and define. Certainly, add some of these methods to capture data.


About the Author

Ellen J Harris leads the Business-Accelerated Company. The firm is a C corporation specializing in Intellectual Property, Intellectual Capital and Intellectual Revenue Assets. Harris is a frequent guest on Blog Talk Radio, contributes to the NYU School of Entrepreneurship as a Business Consultant Coach in the $300K Entrepreneur Challenge and serves on the Advisory Board at the Lubin School of Business at Pace University. In her current portfolio, Harris leads three local U.S. Startups and one international startup launching in the second half of 2018. She serves small businesses in a variety of industries. Harris helps business owners maintain their compliance with federal requirements and most recently compliance with the European Union's General Data Protection Regulation.

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