Local government self-sufficiency is unlocked using 'soft assets'

What Are Soft Assets?

A key element of achieving local government self-sufficiency is to make the most of the existing assets in the organisation. Soft assets are human resources – people, skills and knowledge – and intangible assets such as information, trust and reputation. Most Councils are teeming with soft assets, although they’re very hard to value. Archemys can help you find and unlock the value in those assets, then build them into a commercial venture.

Local government self-sufficiency drivers include:

People

Most Councils have competent managers and, because of the diverse functions they support, a range of abilities. What they tend to be short on are entrepreneurial mindset and perspective, plus the right tools and techniques.

Customer Relationships

Allied to customer data, this is the buried treasure of most councils but one that is too often under-valued or, in many cases, neglected entirely.

Trust & Credibility

Trust in a brand is extremely valuable, particularly in online commerce and social sharing. Few new brands benefit from the pre-existing levels of trust a council has.

Working Capital

Many startups fail because they ‘run out of petrol’ before they can refuel. Local authorities can initially ‘cash-flow’ a venture, quickly recouping working capital – plus interest – from surplus revenue. The venture is lower risk due to not being under capitalised.

Brand Values

Councils are perceived as being stable, ethical, responsible and there to serve the people. Recognition and acceptance of such brand values are the core of a great business

Turnaround Opportunities

One of the biggest turnarounds in business history is Apple under Steve Jobs. We regularly see many turnaround opportunities within a single authority. This ‘success headroom’ can legitimately be viewed as a soft asset.

Information

Councils are expert at keeping records and accurate customer data is the Holy Grail for online enterprise. One of your core strengths positions you perfectly to transact with customers. Data is vital for local government self-sufficiency initiatives.

Ineffective Processes & Structures

We work with many flavours of local authority – Districts, Unitaries, Mets and County. Despite differences, there are common themes. Recognising what needs to be changed and then changing it is the core of evolution and growth.