Brief summary

24 Assets by Daniel Priestley describes how companies grow and become less dependent on individuals by building intangible, scalable, and repeatable assets.

General ideas

• Instead of focusing solely on operational aspects, entrepreneurs should create structures that generate value even without themselves.

• Definition of an asset:

  An asset is anything that remains valuable to the company even if the founder or team is not actively working on it. This includes structures, systems, brands, data, or rights that continue to generate value.

• Revenue per employee: A strong company can be recognized by its high revenue per employee. Companies like Apple or Microsoft generate several million dollars in revenue per employee because they possess a high degree of scalable assets.

• 90-Day Yachting Test : If a company functions stably for 90 days without the active presence of the owner, it has solid assets.

Contents

The seven categories of assets

1. Financial Assets

Financial assets determine how well a company can raise capital, attract investors, or obtain loans. They ensure financial stability and enable growth.

A professionally designed financial system includes:

• Business Plan: A detailed document that describes the vision, financial plan, investment conditions, and capital requirements. It specifies how much money is needed, what it will be used for, and when investors can expect a return on investment.

• Valuation: A report that shows the current market value of a company, often by comparison with similar companies. Prepared by an external source.

• Structure: The legal and organizational architecture of the company. A solid structure builds trust with investors.

• Risk mitigation: Measures to minimize risks that could deter investors. These include insurance, legal safeguards, guarantees, and contractual arrangements for events such as disputes, key personnel losses, or cyberattacks.

The goal is a company that exudes financial strength and remains attractive to investors.

2. Cultural Assets

Cultural assets describe a company's inner strength – its values, working methods, and the quality of its team. They create stability, motivation, and trust.

A company with strong cultural assets has:

• Documented roles and responsibilities so that everyone knows what they are responsible for.

• A structured onboarding system that efficiently integrates new employees.

• A manual and clear guidelines to enable consistency and freedom of choice.

• Performance reviews and feedback systems to promote growth

• Training programs for development, further education and motivation

• Transparent compensation systems and fair reward and complaint structures

Within this culture, there are four key roles:

• Key People of Influence (KPI) are leaders who represent the company, enable partnerships, drive innovation, and embody the brand.

• Sales staff divided into “Hunters” (active acquisition of new customers) and “Farmers” (relationship building and existing customer care).

• Management and administration : People who translate strategies into measurable tasks, monitor performance, and structure internal processes.

• Specialists/ experts who perform the operational work and ensure the quality of the product or service.

3. Systemic Assets

System assets enable scalability, efficiency, and reproducibility. They replace individual dependencies with clearly documented processes.

Typical system forms are:

• Process manuals and operating instructions

• Scripts, checklists, templates, spreadsheets and presentations

• Software solutions and automation

Systems can be divided into three main areas:

• Marketing and sales systems : These systems systematically deliver messages, products, and content to potential customers. The goal is a constant flow of qualified leads. They combine data, branding, and content to create predictable customer flows.

  
  

• Management and administration systems : They collect data, generate reports and forecasts, and enable planning and control. The focus is on management and transparency, not bureaucracy.

  
  

• Operations systems ensure consistent quality in service delivery. They standardize customer experiences to achieve a reliable result every time.

A strong systems asset ensures that the company remains scalable, reliable, and efficient.

4. Product-related assets

Product assets are the tangible or digital offerings through which a company delivers value. They constitute the core of value creation.

A good product ecosystem is clearly structured and built in four stages:

1. Gifts: Free offers that generate attention and build trust. Examples include free reports, podcasts, videos, events, or welcome packages.

2. Products for Prospects (Entry Products): Small, paid offers that facilitate the first purchase. For example, workshops, books, or webinars. They lower the barrier to entry and convert prospects into customers.

3. Core Products: The company's main product range, offering the highest value to the customer. It represents the brand and should strive for "world-class" quality.

4. Product Extensions are follow-up offerings that secure long-term customer benefits, such as maintenance contracts, subscriptions, or exclusive additional services.

A strong product asset is clearly named, repeatable, visually documented (e.g., with brochures or websites), and delivers consistent value.

5. Market and distribution assets

Market assets describe how the company is perceived in the market, how it reaches customers, and what data it uses to create personalized experiences.

This category consists of three parts:

• Positioning: The mental image that customers associate with the brand. Strong positionings include, for example, "best quality," "most affordable provider," "highest trustworthiness," "greatest convenience," or "most pleasant experience." Positioning is strengthened through awards, accreditations, partnerships, and media presence.

• Channels are communication and sales channels through which a company reaches its customers. Examples include YouTube, Instagram, podcasts, blogs, events, or physical stores. Companies can build these channels themselves or utilize them through partnerships.

• Data is information that enables a personalized customer experience. When used correctly, data helps to make products more individual, faster, and more relevant.

The goal is a strong, measurable market presence with direct access to the target group.

6. Brand Assets

Brand assets embody the emotional, visual, and philosophical identity of a company. They determine how the brand is perceived and how consistently it communicates.

Three key components:

• Philosophy: A clearly defined and documented mission that describes the brand's core values. A strong philosophy is simply formulated, clearly differentiates itself from the competition, and forms the basis for all decisions. It consists of a few, distinct characteristics that describe the brand.

• Identity: A consistent visual appearance in typography, color, tone, imagery, and design. Consistency in communication creates trust and recognition.

• Brand ambassadors are people who credibly represent the brand. These can be founders, employees, influencers, or customers who are connected to the brand.

A consistent brand asset builds trust, awareness, and loyalty. The foundation for long-term customer loyalty.

7. Intellectual Property

Intellectual property (IP) assets are the documented, protected, and systematized knowledge assets of a company. They make it possible to scale, reproduce, and monetize knowledge.

• Content is knowledge and information in the form of text, images, video, or audio. Content creates visibility, builds trust, and influences purchasing decisions.

• Methodology: Specific procedures used to achieve a particular result. These include models, diagrams, SOPs (Standard Operating Procedures), lists, or algorithms. These methodologies are repeatable and can be taught or licensed.

• Registered property: Legally protected rights that safeguard the company: •

  • patents

  • Brands

  • Logos and symbols

  • Copyright protects creative works

  • Trade secrets

  • Design rights protect the external form of a product.

  • Domain names secure digital presence

These assets ensure long-term independence, protect against imitation, and increase the company's value.

Building assets

Building strong assets is an ongoing, active process. It requires systematic work, feedback, and continuous optimization.

Steps to asset creation:

1. Focus on two core assets and develop exceptional quality in them.

2. Conduct customer interviews to understand what is truly important to them.

3. Work with professional partners and create detailed briefings (text, video, audio) to optimize collaboration.

4. Gather feedback regularly and integrate it systematically.

5. Revise your systems multiple times (often 10 to 20 cycles) until they run smoothly.

6. Establish structures of responsibility and external control mechanisms.

7. Create environments where excellence and success are the norm.

8. A company with strong assets is scalable, independent, resilient, and ready for sustainable growth. Without the founder's direct presence.