The Value of Knowledge

What is Intellectual Capital?

Intellectual capital is about knowledge and experience. It is what makes us good at what we do.

When I was the marketing and development coordinator for the National Railroad Museum, we wanted to pave around the Hood Junction depot in an authentic manner. We chose to pave with bricks, and added the twist that allowed patrons to have a brick engraved with a personal message for a donation to the project.

Where I realized the value of intellectual capital was when the brick layers from B&B started the installation. The surface was prepared and a starting point determined. Dave (one of the B's) started the process and quickly developed a pace that was interesting to watch as bricks began to spread. Then he stopped suddenly. Dave explained that the bricks were a different size than the ones he started with. What?

Taking out his tape measure, Dave found that there were two different widths to what appeared to be similar bricks. One batch was 1/8th of an inch wider. 1/8th! He said he needed to make an adjustment in the pattern, which he did and continued installing bricks. Three workers carrying hods of bricks were unable to keep up with the two installers, and the depot was paved in less than a day. If you visit the museum in Green Bay, the bricks will look very much like they did the day they were installed.

Dave's intellectual capital came from years of experience working with bricks, and his knowledge of the product he delivered in all kinds of situations. Dave's may not seem all that valuable to most of us, but when it comes to accomplishing a brick-laying project quickly, efficiently, and cost effectively, I would place great value in his intellectual capital.

Each of us has intellectual capital. At Fluidity, our more than 40 years of intellectual capital is valuable in helping our clients understand the viability of an endeavor through research and the interpretation of that research through feasibility studies. It is in assembling business and strategic marketing plans that are customer-centric and focused on profitability, and it comes in the form of implementation assistance. We want our customers to succeed and understand how to navigate the path to get there.

How Healthy Is Your Business?

Millions of people visit their doctor every year, regardless of how healthy they feel. It's a matter of knowing they're doing okay, even it they feel well. An ounce of prevention, they say, is worth a pound of cure. If something's wrong, most people want to know what it is right away so it can be addressed.

Business owners, likewise, need to know how healthy their business is. Rather than leave profitability to chance, it's important to have an assessment done every year, perhaps even quarterly. Fluidity has long known that owners of existing businesses need a check-up process, which is why we have made the comprehensive Fluidity Business Health Assessment program available.

We trust your business is doing well and turning a profit. It should be what you're in business to achieve. However, a slogan often attributed to President Ronald W. Reagan - Trust but Verify - has merit when it comes to your business. Fluidity comes in and works with you to conduct, among other things, a SWOT profile. SWOT analyzes your strengths, weaknesses (if you have any), opportunities for growth, and the threats from competition or within your business or industry.

We also have our Trusted Alliance Partners (TAP) who are business professionals in the fields of banking and investing, accounting, legal, and financial services (see the cube diagram designed to help business owners) who can verify you're doing the right thing. There's more information available at http://www.fluiditybpg.com/health_assessments.html and we've got a workshop coming up on March 2nd in Green Bay - http://www.fluiditybpg.com/business_smart.html - where you can get questions answered.

It's time for a check-up.