intellectual capital

Intellectual Capital as Your Sales Tool

intellectual property

So how does the wisdom inside your head become an asset?  How does your intellectual capital help advance your immediate sales and marketing needs?  You turn that wisdom of yours into a product.

For most of our clients WHAT they do from a 40,000 ft. view isn't so very different from anyone else.  But HOW they do it, and WHY they do it is TOTALLY unique and quite often is the "secret sauce" for all their success.  The genius of their business lives in the HOW and the WHY not the products or services themselves.  And if prodded, most of my clients will relate a very unique, hard-won perspective on the work the do, how to do it well, and how to create optimal results.  Sometimes they know it's powerful.  Sometimes they think it's common sense.

So let's agree that the wisdom, insight, and lessons learned in the trenches ARE the most important assets your company possess.  Want proof?  Try training a junior to do what you do without all the wisdom behind it and see how well they perform.  Well, if you can't scale since you can't train, then what you've built is a business that ends with you.

So don't stop selling the way you've been all these years to take on some new gimmick.  Instead, take what's working to a new level by naming it, explaining how it works with a graphic and outline how that unique worldview perspective you have (no matter what it is) communicates into a totally unique experience for clients.

The 6 Tips to Capturing Intellectual Capital Systems

When it comes to capturing your intellectual capital systems, nothing can give your organization better traction, scalability or a higher valuation when the time comes to sell. What’s not to like?

The problem?  Wondering where to get started.

With sexy new software like www.playbookit.com for creating robust multi-media operations manuals, the task is starting to look quite appealing.  Here are our top 6 tips to capturing your business systems and transforming them into intellectual capital revenue.

  1. Start with what’s working:  If you are wondering where to begin with systems to capture, consider building from the positives.  While it will be productive at some point to tackle the things that are broken, getting momentum and harvesting systems that work is best.
  2. Track Along Your Client Experience from Sale to Fulfilled:  Consider that the client “experience” is like a spinal column. Like vertebrae, those big steps from a sale to a happy customer are the main milestones in a client engagement and the sub-systems that attach are like your nervous system.
  3. Toggle Between Client Facing and Back-Office Perspectives:  Start by outlining what clients see, read, hear and experience and then build out all of the systems that support those efforts.
  4. Define the Transformation:  Capturing systems can lead you to defining “culture” if you get inside the WHY behind the WHATS.  Defining your client’s transformation from the beginning of an engagement to the end is a powerful way to define the essence of your value.
  5. Map It, Then Define It:  Lay out all the steps and map them like a flowchart.  Big things first, like “first client meeting” – then start layering all the sub-systems around it like, “create meeting agenda”, “tidy boardroom”, “send invite”,  etc. etc. until that single step is nailed.
  6. More Video And Tools – Fewer Lines of Text:  English majors be warned, the best way to build an operation's manual is with video, not text.  With simple two and three minute videos you can organize, communicate and express the details as well as the sprit of what you do and why.

If "intellectual capital" is defined as your intellectual property working for you, then building an operations manual of systems and procedures is one of the fastest routes to monetization.  Get started today and you’ll see the rewards of your efforts.

PS Below here is a link to a Wisdom Harvesting Tool - this is a great resource for defining your wisdom and how it serves others.

download the Wisdom Harvest Tool

The Intellectual Capital Revolution: Algorithms or Emotional Intelligence

Recently, at a WisdomNetwork event in Chicago a group of highly successful entrepreneurs gathered to talk about the future of business, communication and market positioning. This private forum for future-casting leveraging the intelligence, experience and wisdom of the group alighted upon a powerful concept that I wanted to share: The big shift for this century is the division between two pathways for value creation: Algorithms or Emotional Intelligence.

The world of algorithms is encroaching into every sector. Since the first calculator, we've borrowed the ladder of technology to simplify and streamline. Even service businesses are losing out to the power of the microchip to commoditize the contribution of people. Look at the big picture and you start seeing Artificial Intelligence everywhere. If it can become a algorithm it will. Insurance policy kiosks at the airport, Amazon sending drones to deliver your goods, Google filtering your news. It's here.

Alternatively, the world of EQ or Emotional Intelligence is the last bastion of opportunity for service-businesses that can grasp the importance of it fast enough. If everything left brain can become an algorithm then it's the world of the right brainer that will create value into the coming centuries. Creativity, empathy, passion, humor and non-linear thinking will become the prized human skills as AI encroaches into every other aspect.

Algorithms or EQ. Which side will you be on?

Let me know what you think!

download the Wisdom Harvest Tool

Your Intellectual Capital: 5 Sales You Have to Make

Your Intellectual Capital You’re an entrepreneur. Your job is to take an asset from one level of productivity to the next level. And when it comes to your Intellectual Capital, you need to monetize your wisdom by making five distinct sales.

Here's a simple way to tackle it, one sale at a time:

First Sale: Inside Your Head The first person that needs to see that what your company has is unique is you. Without that sort of clarity you have commoditized what you do, sell or offer. And with commodities there’s little left but a race to the pricing bottom. Find out what your intellectual assets are and define them.

The Second Sale: At The Kitchen Table This next sale is made with your team. Rebooting the system by allowing your people to see what the company is “really” about will enable you to preserve culture, attract talent, transform behavior, and migrate the team to create a brand experience clients enjoy.

Third Sale: In The Backyard: This next sale happens with your database: leads that didn’t convert and current or past clients. Why leads that didn’t convert? Because most of us give up too quickly with them and because a deeper insight about your wisdom is sometimes what they need to answer the question, “why you?”

When it comes to clients, educating them on your wisdom (beliefs, passion, unique capabilities, systems and methods) can sometimes inspire them to buy more (share of wallet) or refer others (share of relationship).

Fourth Sale: Around The Neighborhood: This sale aspect addresses the Center of Influence relationships you have and want to cultivate. Let’s make it happen here by getting a plan, defining the value proposition of connecting and building a reciprocity model for shared exposure.

Fifth Sale: Across The World This is sale that’s made with prospects. Let’s find them, nurture them and convert them using the unmistakable genius of your wisdom. Inbound Marketing at its purest form is an opportunity for you to package and communicate your ideas, values and worldview to attract and convert your Right-Fit audience. Your I.C. is the fuel.

To take on the fight against the destructive forces of commoditization, you have to be courageous, you have to be inventive, and you have to communicate with passion, conviction and clarity. Five audiences. Five sales. Go to it.

Looking to get started? Click the banner below to begin capturing your wisdom today!

download the Wisdom Harvest Tool

The 4 Intellectual Capital Graphics You Need Today

So, why graphics? When it comes to turning your intellectual property into more powerful intellectual capital - graphics rule. And in a world where most communication is growing increasingly truncated into sound-bites, we’ve found that graphics help the brain connect ideas faster. Graphics enable information to unfold in a format that provides simultaneous ingesting of information – from your firm’s quality to the content of your message to a hint at your ideal audience – all of that can be related to your audience in a graphic even before the first word is read. It’s really pretty impressive when you think of it that way. What I’ve experienced is that when graphics are thoughtfully constructed they can fast-track insight on a multi-tiered level all happening in the blink of an eye.

So which graphics to start with?  Here are the four essential intellectual capital graphics you need and why:

1. A “What You Believe” Graphic - Nail your world view and share the essence of your philosophy.

2. A “How You Transform Others” Graphic: Help explain STATE A (where people are when they meet with you) and then STATE B (how they are better off because of your solutions)

transformation graphic

 

3. A “Your Market Position” Graphic:  Explain where you are positioned against others. David versus Goliath is a good, classic structure, as is the "Third Space" idea that Steve Jobs positioned when he showcased the iPad. Consider that contrasts are good for your clients.

 

4. A “How You Deliver” Graphic:  Outline is a step by step fashion how you run the process of working with others. A narrative graphic here that walks clients through the steps of working with you alleviates confusion and informs your WHAT with WHY!

this is a classic "worldview" graphic with a process around it

Who you are and what you believe drives the way you create value. Graphics show it and allow others the chance to really peer beyond your product into the experience you create and the value that lives within your practice.

the wisdom Harvest

What to know how?  Start with your wisdom by downloading this free tool to help you define your wisdom and how it serves others:  http://www.thewisdomlink.com/wisdomharvest/wisdom_harvest_tool.php