asset-lifecycleSome people play the stock market; buying and trading shares, but it’s a lot like gambling: you gotta know when to hold ‘em and know when to fold ‘em. One thing that’s often a sure-fire bet on success, however, is the property market.

The Asset of Bricks and Mortar

As an asset, a house is a wise investment; it’ll keep making you money for as long as you have it. You can also grow that asset by maintaining it so that it doesn’t deteriorate and subsequently depreciate and by making certain improvements and/or additions to it.

The Asset of a Business

Another good asset, also like property, is a business because for as long as you own it and take care of it, it’ll keep earning you money. As a business owner, you’re in control of your future; and your businesses future, for that matter.

The more you work at it, the more time and effort you invest in it and the more you grow your business’ brand (your reputation) — the bigger the return on that investment.

The key to this success, this growth and return on investment, is simple communication. By communicating with your clients and providing that excellent customer service people rarely expect to receive but very much appreciate when they do, you’re constantly growing your business; establishing your brand as one that’s trusted.

The Value of Trust

Trust is not something you can buy; it must be earned. If you act with integrity, a person will give you their trust. Once you have it, and so long as you don’t disrespect it, take it for granted or act irresponsibly with it, it’ll continue to pay dividends.

So for every annoying customer, whose email you delete or simply ignore, remember that by doing this you’re damaging your credibility and ultimately proving you’re not altogether trustworthy. (They can’t even be trusted to return a simple email.)

Remember your business is not just the thing you do that pays your bills. It’s your asset — in many cases it’s your biggest asset (the position usually reserved for a house) — so treat it well and it will reward you in return.