intellectual property

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

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