Business Tip: #1 – Determine your Assets.

A brief introduction to this series…

We had an awesome friend in this last week. His name is Zach McNair, and he’s from Houston, Tx. He suggested that we take the time to share all of the information, knowledge, collaboration, dreams and inspiration that we’ve collected over the last decade of working within the wedding industry and working with photography and the arts.

So, as it comes – we’re going to be sharing some of the things that have helped us grow and have encouraged us on this journey called life.

We are not business experts, but we do own 4 small businesses, and we’ve been owning and operating them for 4-8 years. We hope that it will encourage you and that, we too, will learn new amazing things from you.

Zach McNair – Creative Director, Designer, Photographer

DETERMINE YOUR ASSETS

Think Outside the Box

1. The most important thing when considering your assets, is to think out side of the box. 

The first thing anyone ever says to me, when I ask them if they have assets, is “I have a lot of money…” or “I don’t have that much money.” While money is an asset, it is not the ONLY asset, nor is it always the more important asset. 

Money does give you freedom, but it doesn’t always determine your ability to be successful. *side note* – we will talk about money later.

THE BEST EXAMPLE I HAVE TO DATE:

You speak English and have a million dollars, but you’re in a foreign country with a dear friend who speaks both the native language, and in fact, lived there for 10 years and also speaks English. You get in a jam and need a doctor, or lawyer, or the police. You have to navigate the sticky waters of political agenda, the medical system and the law. 

In that moment, your friend with her ability to converse with ease and understand the culture is more powerful than you, even if you have more money, prestige, a nice car, home, job – whatever. There are different assets for different situations.

Here are a few other assets:

-Ability to write
-Ability to read
-Ability to critically analyze a situation
-Diverse background
-A gregarious personality
-The ability to listen well and absorb information
-The ability to hold your tongue
-The ability to speak up and challenge norms
-The ability to make friends easily
-The ability to process information quickly
-An understanding class systems
-Good etiquette  
-The ability to research and sift through relevant and irrelevant information. 

All of these are strange, and some of them we take for granted, but I am not a fast reader, and Lora will tell you that she has a really hard time holding her tongue. We don’t have all of these assets, but we know people who do, and some of these things make them very successful in navigating business well.

CONSIDER YOUR HISTORY

2. The second thing to is consider your history. Within that are 5 sub-categories – your experience over time, relationships,  jobs, education and family.

I have about 4 examples of this, but they’re very long… so if you want them, I’ll post them in the comment section!

Everyone has hidden assets. Most people do not even know how fabulously informed they are about certain things. 

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Personal project:

Write down all of the assets you have. Try to avoid ones like – I have a lot of money. I have a nice car. I have trust fund. I have lots of savings… etc. Think of some things outside of the box. There is NO WRONG ANSWER!

Think about your history and how it has shaped you, informed you, and how you can utilize those lessons to draw out excellence and wisdom from your life.

Love to hear from you, what some of your best assets are! What are some other things to consider when determining these things?? Leave a comment… : )

Warmly, 
Eric and Lora 

 

One thought on “Business Tip: #1 – Determine your Assets.

  1. Love the insight here. Really glad you guys are going for this!

    I think my biggest asset is my innate ability to network. From the time I was a kid ’til now, no person has been a stranger. If I know someone who needs help and a person to help them, I’ll connect them. I think this could be a very good asset to have in business when I feel weak in an area of my own business — I can call up another professional and ask for help.

    Probably one of the more influential moments in my business history was when my friends, Jeremy and Blaine, both told me to read a book called “Making Ideas Happen” by Scott Belsky. I learned to always be shipping — Even if my idea sucks, ship it. Some of my favorite work has come out of this.

    In grade-school English class, my teacher used to assign “free writing” sessions where we would be given 20 minutes to write down whatever came to our mind. After that 20 minutes, we had to turn it in. No editing could be done at all to a “free writing” session. Reflecting on that, as well, has helped me with the mindset of “Always be shipping”.

    Thanks for writing this, E+L!

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