Identify your digital asset type

To find out if a business has a market-modified digital product outside the company, ask the product leader three questions.

  • Does the business have a clear improvement over what appears to be the current best practices?
  • Does the business offer tangible and measurable value?
  • Does a potential customer who knows the best of the moment consider this skill as an invention?

If the answer to all three questions is yes, then you have an innovative digital asset – widely known as an innovator and marketable. If the answer is no, you have a common digital asset – something that is not unique, i.e. other organizations are already working or can easily perform the task.

Creating foreign products that generate revenue from creative digital assets

Assuming you have innovative digital assets, ask your product manager if the asset is critical to expanding your customer base, increasing your value proposition, or reducing the cost of your work compared to your competitors.

If the answer is yes, digital assets are essential to the business model performance of your organization, and should remain internal. Going out makes you less able to identify. If not, explore further to convert digital assets into revenue-generating exports.

Evaluate the business opportunities of the product, your Go to Market Strategy, And potential partners. Make sure the product meets the requirements for desirability, feasibility and feasibility. Using cloud computing, you can bring the product to market without maintenance costs and get a competitive advantage from traditional software vendors (depending on the supplier’s overall offerings). Alternatively, you may be fully responsible for the innovations but work with vendors to implement or distribute them.

Creating foreign products from traditional digital assets

It is not advisable to carry out maintenance costs for common digital assets, as they do not generate significant revenue. Instead, consider these capabilities as maintenance and adding an existing product supply to a third-party provider. Cloud service Payments allow them to maintain and trade such capabilities on the basis of their customers.

However, relying on third-party suppliers to protect their internal business capabilities and do business is risky. Major industry players can be loyal customers of a particular supplier that offers unique products, allowing the supplier to establish a dominant marketplace. To avoid this risk, develop common digital assets with an open source license agreement, which makes it impossible for one party to control.

This is the first article by Brian Princes, an analyst for Gartner’s vice president. over here.

The comments and opinions expressed in this article are those of the author and do not necessarily reflect CDOTrends. Image credit iStockphoto / flyingv43