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What do you think is the most important asset of a business?

  • MasterA Level 3
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    What do you think is the most important asset of a business?

    What do you think is the most important asset of a business?

    I think the most important asset of a business is its people. Every business is run by people and without the people who run it, a business cannot operate. I have seen a real life business put a lot of emphasis on hiring new talent for their business because they believe that people is the key to their business and I agree with this. You can have automated systems or machines that does the job but at the end of the day, machines cannot replace humans and humans are the ones who make the machines and systems.

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    EliteWriter

    EliteWriter

    I agree with what you said- the employees are of essence, and I go a step further - each and every one of them, no matter where they stand in the organization chart are important to the business. There are some who might argue that a manager is more important than a cleaner, but I feel that each and every employee has his or her unique value. The most important thing is to make sure that each employee is a good employee, in that he is properly motivated and efficient. As long as every employee does his job or role well, then a business can operate efficiently.
    10 years ago

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    armandolee

    armandolee

    I'll tell you what is most important. It's the purpose of the organisation,what the organisation stands for,what you value and how you communicate those values(which what I call Marketing) and how you inspire people.
    Look everybody have quality products,amazing service, low prices,a great history,skilled employees,genius management, is innovative..... Come on come on come on come ooooon!!.They shit ain't.It's the inspiration that you make in other people that counts.Even your uniqueness comes afterwards coz everybody's bring something different and new to the game.But if your product/brand lives in your customers' hearts,you are unbeatable.Trust me I'm an entrepreneur.
    10 years ago

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    ksp62562

    ksp62562

    The time you spend on it.
    10 years ago

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    idealmike

    idealmike

    Good question I agree - it's people that make a business a good business. And while some machines can be setup to automate the tasks of a human, they'll never have that human touch which people appreciate much more than some vending machine! Vending machines can't greet you with a smile and a handshake. They can't tell what mood you're in and can't go the extra mile like people can. They can't offer you a service that is custom tailored for you either which is one of the most biggest selling points for any business to do.

    That said, a good business is most certainly made up of good people. The right people with the right connections, skills and abilities. As well the right attitude and will to be 100% customer focused and orientated. All of these things together make a good business a great business. And keeping that business running smoothly is like looking after an engine in your car which needs different parts to make it run. Where the different people in that business represent the different parts of that engine to make the wheels go round and take you where you need to go!

    That same engine also needs fuel to run though. That fuel could be considered your own desire to become a great business. Because after all, what you put in, you get out. What do you think is the most important asset of a business?
    10 years ago

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    MusicMoguls

    MusicMoguls

    you guys both have some good points basing it off the people i can see exactly why you chose to say that, it makes sense with out people what is the business i mean it wont be able to run at all of course not but when you guys put it like that it is not just any people we are talking about but employees or the bosses who specifically makes the business go , i think that is what you guys should really keep in mind when thinking about it of course im only trying to improve on your points of views
    10 years ago

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    idealmike

    idealmike

    What do you mean that's exactly what I said lol. It's the people that make a good business a great one. The people at the bottom and the people at the top. Kind a like a well oiled machine.
    10 years ago

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    MusicMoguls

    MusicMoguls

    personally i believe the most important asset of a succesful business is organization and planning, you guys mentioned having a great team and i do agree with that some what, but i run my business alone and im doing great, so with that being said i have a different point of view, i feel i have to keep myself organized and on point my greatest asset is being responsible in everything i do as far as my busniness i make sure im well self managed and i dont allow myself to sleep which keeps things runnning as smooth as possible, i dont know just an opinion
    10 years ago

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    idealmike

    idealmike

    Everyone has to sleep jkeyz! If you keep running your business without sleep, your business could crash as hard as you will. At the end of the day, the business is only as good as the people running it. I agree organization and planning is vital. But if you've got the right set of people with the right outloook, and those people are getting a healthy 7 hours sleep each night, that's going to reflect in the business because those same employees wont be sluggish, grouchy and cranking with the customers. Not that I'm saying you're sluggish, grouchy and cranky! LOL Buy yeah, I agree but everyone needs to get enough sleep man that's just a facet of life and why there is a clocking in time and clocking out time. If you're self employed it doesn't count! What do you think is the most important asset of a business?
    10 years ago

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    Webguy2024

    Webguy2024

    The most important asset of a business is the employees. Without great employees the business suffers on all fronts. In my experience businesses that don't pay attention to good hiring practices lose in the long run. Hiring a new employee is more expensive that actually saying "Your Hired". It takes man power hours, to train a newly hired person, this costs money. If the new hire eventually does not work out you are essentially paying for low or poor productivity and a litany of other negatives. This can cost a business a loss in sales which will hurt the bottom line. Company moral suffers if a company has a high turnover or unhappy employees. In the end, if management has to terminate an employee the costs associate with a termination gets even higher and worse you have to begin the hiring process all over again.
    10 years ago

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    Cristian

    Cristian

    My best asset is the quality of my work and my desire to innovate and improve my working process. I'm also very keen to details along with the fact that I always give clients good constructive feedback, even if they're not asking for it, I just try to do my best to help them.

    I'm doing great at the moment. I have lots of clients for freelancing at home and I'm doing fine at my workplace. Pretty confident thing will improve further in the years to come.
    10 years ago

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    ajlancer

    ajlancer

    Yep! Cristian I like your comments as what is your main asset. I feel too. As a freelancer my asset also for quality work, do something new and exploring new things and ultimately make happy to clients. I like to work hard and I feel very happy myself as confidence freelancer. And confidence and exploring my real asset of my freelance business.

    Regards by Ajlancer
    10 years ago

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    ajlancer

    ajlancer

    Hi MasterA thanks for your nice question. Yes I agree with you, people are very importance asset for any business. And I think not only people, but also expert employees are the great asset of any kind of business. If you have expert employees, company productivity will be good quality and increase too. I think people is required but sometimes things may work more than human and it may depend on big business or small business. Some business only not relay on people. Sometimes robotic machine take over place on human. I watch discovery channel how to make things? And I saw machine very handy to make product in some reputed company like Toyota.
    Finally I believe that skill people mainly asset of any kind of business

    Regards by Ajlancer
    10 years ago

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    Lynne

    Lynne

    I agree, the people in the business are it's greatest asset. Cristian said quality of work is the greatest asset, which is totally true... but who does the work that is such great quality?

    If you have the right people doing the work it is your greatest asset.
    10 years ago

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    Pixie06

    Pixie06

    Your employees and customers are your greatest assets. You need both to survive. Good employees will work hard and will try to attract as many customers as possible. If the employees provide a good customer service this will help the company to retain existing customers and attract new customers. On the other side lazy or bad employees will ruin the image of your company which will in turn affect profitability.
    9 years ago

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    Corzhens

    Corzhens

    I agree that people is the best asset of a business because like in a car, the people is the engine and without the engine, a car is not a car. You can invest in real estate to gain a profit with the appreciation of the value later on. You can invest in equipment that can make the work easier and faster. But the best investment is with people. I always hear successful businessmen talk of their investment in people. When your employees are loyal to you then you have a good asset there especially if those loyal workers are concerned with the well-being of the business.
    8 years ago

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