Today’s work has prompted me to wonder what came first the chicken or the egg, or in business terms what’s the most valuable asset for a business?
Is it intellectual capital, financial capital or technology?
I tend to feel that without the right personnel, capital and technology are not necessarily a business advantage.
How do business owners maximize profits without the right investments? Personally, I value my brain trust beyond compare. As useful as technology is, without the right advise at the right time, without the correct connections and the power of my intellect and my intellectual network bad decisions would have been the norm in this new endeavor.
I have had the pleasure of meeting many smart business people who know that without intellectual capital their money would not be a competitive edge. Knowing that people understand the business at hand and think critically allows businesses to make informed decisions.
So why do business get blinded by gadgets and gizmos? Shiny and new does not solve problems. Technology only maximizes the time and knowledge base. Without the right intellectual vetting how can you choose the right content management solution or invest in the most powerful hardware with a long shelf life?
While the chicken is necessary for the egg, the egg needs the chicken just as much. In business, the right people choose the right technology and make the best investments for financial capital. So invest in “key personnel” and get more bang with your assets.