Leverage Your Assets or You’re Leaving Money on the Table

Everyone makes the mistake of underutilizing assets they have.  I’ve done it in the past.  I’m doing it now.  It’s not feasible to maximize everything.

But sometimes we completely overlook stuff that’s right in front of our face, stuff we have access to that with just a little more attention could really pay dividends.  I’m primarily thinking about money but dividends could also be time saving, health benefits, enhanced quality of life, whatever.

Examples

1. I had a website that ranked decently in Google.  It was making some money from the traffic but it was a poorly designed website with outdated content.  The conversion and click through rate was bad but it still made money, something like $75 a month.

I overhauled the website with the best design I could conjure up.  I posted 5 fresh articles.  The revenue doubled.

Note that the website still isn’t optimized.  I didn’t have a custom design created but I did at least attempted to leverage the asset I had (great ranking) and it paid off.

2. I have at least 10 emails I use for different operations.  One is for marketing materials.  One is my personal email.  One is for domain names. One is for business purposes.  One is for The Bar is Easy.  Others are for individual websites.

It was a pain to keep up with them (Thunderbird was buggy and Microsoft Outlook emails would vanish) until I used my phone to aggregate all my emails.

I leveraged my iPhone to create an instantly updatable folder of all my emails.  Anytime I want to check my email, all I need to do is swipe my screen and I’ll be up to date.

I didn’t think I was buying my phone to use as an email aggregator but now that’s one of several ways I put it to work for me.

It saves me time.  It’s a convenience.  And it allows me to respond to offers/provide better customer service so it enhances my business operations.

3. I love when I see companies buy a premium domain name and really put it to work in their marketing efforts.  They’ll rebrand the company as their domain.  They’ll incorporate the domain into their logo and signage.  They’ll run it in TV ads and billboards.

This is why premium domains are premium domains, they’re extremely marketable.  If you own one, you should leverage it to the sky.  Your marketing dollars will go so much further because you have a great domain that nobody else has so you should make it your workhorse.

4. A few years ago my dad bought an F-150.  That purchase has paid off big time.  He uses that truck to haul everything.

He’s used it to move brush, move furniture, move appliances, haul junk, carry tools.  He drives it to work.  In short, that truck’s utility is harnessed.

Granted, driving to work isn’t an optimal use of the truck but all the other stuff is completely in the wheelhouse of the F-150.

Can you imagine the deficit if he didn’t have this truck as a resource?  He’d have to rent or borrow another truck.  He’d have to pay for delivery.  He’d have to skip other projects altogether.

What an extremely valuable asset.

5. A few months back, I received an email from Tim Ferriss.  He was writing everyone that had subscribed to his email list for the first time.  He had neglected to check his subscribers for years (because he didn’t like emails himself) but was urged to use email marketing and discovered he had nearly 300,000 subscribers!

Talk about leaving money on the table – that list is worth millions!

Now he sends out email on a fairly regular basis so while he missed out before, at least he’s taking advantage of this asset now.

Making Your Assets Work for You

The above bullet points are only five examples at the top of my head.  There are so many possibilities for things you can leverage.

When you have an asset, put it to work – even if you aren’t maximizing its capabilities.  After all, some benefit is better than none.

We get so focused on what we don’t have that it’s easy to forget or neglect what’s right in front of our face.

What assets are going to waste for you?

Name something that you could derive more benefit from but are underutilizing.

My Answers

Email is an extremely powerful mode of communication.  I feel like I’m not fully harnessing such a powerful, free technology.

I have some great books on my Kindle that I still have yet to read.  There are so many books with great information.  I love reading and listening to them but I feel like I’m still not leveraging so much cheap information.

I live right in the thick of the DFW Metroplex, one of the largest metropolitan areas in the US with a population of 7,000,000 people and all sorts of major companies, entrepreneurs, and small businesses.  I’m completely missing the boat on leveraging my proximity to so many great people and opportunities.

I am a licensed attorney.  I don’t practice law (nor do I want to) but there is so much credibility that goes along with being a lawyer.  I know there are opportunities (that I would be interested in) that I’m not seeking out.  Only 1 in every 300 people are lawyers.  There has to be a way I could leverage my legal background.

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