These days we spend many resources on #business digital platforms building up profiles, increasing our likes, generating #digital content, developing Apps/tools and improving our website ranking.
Have you stopped and asked yourself: "Am I building assets or piling up expenses?"
It is crucial for #entrepreneurs to get to grips with this. The difference between an asset and an expense is not always so clear. One clear difference however is in what comes after the initial spending. Assets bring in future returns to the business whilst expenses bring in nothing.
When we identify the future returns for the business and focus on the value created for the shareholders, we are building up digital assets. These assets should be accounted for and capitalised to your balance sheet just like any other tangible asset, making it visible for management to manage and assess return on investment (#ROI).
A shareholder can only sell what is visible, so let's make sure we show all our assets in our financial records.
At MyBI we specialise in assisting entrepreneurs to build a true reflection of their digital and other assets into their financial records to protect and enhance shareholder and future value.
