Intangible assets – or things that aren’t physical assets – fall into two broad categories:
Legal assets are things like trademarks, brand names, patents and copyrights. They can be highly valuable, but complex to assign financial value to.
Competitive assets are more abstract, like:
They’re even harder to assign a dollar value to, but you can see they’re arguably more valuable than legal assets.
The cool part? We’ve all got competitive assets.
To put this another way: You can buy legal assets, but you either must earn or are simply born with competitive ones.
Both types are important, but as soloists we’re less likely to lean on legal assets, at least for a while. Our competitive ones are with us from day 1.
And your unique combination of them is basically non-replicable… lean all the way into these when creating your products – it’s where your untouchable advantage lies.
For self-employed creatives, normal business traps are easy to fall into and overcomplicate things - but they’re totally avoidable when flying solo.
Learn how to keep things simple, enjoyable, and climate-smart in around 2 minutes a day by joining The Climate Soloist.