Exploit your assets efficiently
In the case of revenue generating assets, invest on the back of a financial model which shows a return on assets that is significantly above your cost of capital.
Be aware of the advantages of leasing (as opposed to purchasing) new assets and the potential for selling and leasing back existing assets.
Understand your asset utilisation in order to optimise your return on capital.
Set KPIs to measure the progress of new asset investments – to establish evidence of failure, as well as success.
Maximise the residual value of your assets once their primary utilisation period is over.
Manage your intangible assets
Ensure that all the intellectual property or technology you need is under your ownership, or adequately protected by appropriate license agreements.
Ensure that all your intellectual property is appropriately registered (eg patents, trade marks etc).
Check regularly that your IP is not being used by third parties in an unauthorised way, and that all license agreements are periodically reviewed and their provisions enforced.
Make sure your talent management processes are up to scratch.
Don’t forget to manage and protect other non–IP intangibles, e.g. the value of contracts/customer relationships