Running a business is…well and expensive business. You have to speculate to accumulate and investing in various assets from laptops to servers is essential in this day and age. You know what’s also important? Taking good care of those assets so that they bring you a decent return on your investment, and so that your business can function as optimally and efficiently as possible.

With that in mind, let’s take a look at a few things you can do to take better care of your assets starting today.

1. Treat Your Tools Right

Think of your business assets as the lifeblood of your operations. Without them, you’re stuck twiddling your thumbs (or worse, emailing endlessly). Regular maintenance is key. Clean your devices, update software, and ensure everything is running smoothly. It’s like giving your tools a spa day—minus the cucumber slices on their screens.

2. Hardware Asset Management

Ever heard of hardware asset management? No, it’s not a fancy term for organizing your desk drawers. It’s the systematic approach to tracking and managing your physical assets throughout their lifecycle. From procurement to disposal, having a solid hardware asset management system in place ensures you know exactly where your gear is, who’s using it, and when it’s time for an upgrade. Think of it as the ultimate inventory party planner for your business stuff.

3. Label It Like It’s Hot

If your office looks like a jungle of cables and gadgets, it’s time to get labeling. Use fun labels or colour-coded tags to keep everything organized. Not only does this make finding things easier, but it also adds a splash of personality to your workspace. Plus, if your intern accidentally unplugs the server, at least they’ll know exactly what goes where. Win-win!

4. Backup Your Backups

Data loss is the business equivalent of forgetting the punchline to a joke—you know it’s coming, and it’s never pretty. Regularly back up your digital assets to prevent catastrophic losses. Use cloud services, external hard drives, or even the old-fashioned way—writing things down on paper (just kidding, don’t do that). Having multiple backups ensures your data stays safe, no matter what.

5.Teach Your Team to Be Asset-Savvy

Your employees are the front-line defenders of your business assets. Provide them with training on how to use and care for the equipment properly. Simple things like shutting down computers correctly, avoiding spills on keyboards, and reporting issues promptly can extend the lifespan of your assets. Plus, it fosters a culture of responsibility and care within your team. Who knew asset management could also boost team spirit?

6. To Upgrade or Upgrade Not?

Deciding when to upgrade your assets can be tricky. Here’s a fun tip: set a reminder for every few years to assess your equipment’s performance. Is that laptop running slower than a snail on a sticky note? Time for an upgrade. Or maybe that printer is more paper jam than print. Make informed decisions based on usage and needs rather than just following the latest trends. Your wallet and productivity will thank you.

Your assets deserve some love, and your company bank balance will thank you for giving them it