What do you think of rules?

You may be a rule-breaker, the type of person who scoffs at norms and wriggles out from under the sometimes suffocating demands of living life by engaging in standards set by faceless others. Or you might be one who delights in following rules. This way, you can better understand what lies ahead.

Certainly, in the asset management sector, rules apply. At AMspeak today, on World Asset Management Day, our virtual delegates were fascinated to see the presentation by Cardno staff, Aneurin Hughes and Stephen Walker, who outlined the 12 Rules for Successful Asset Management. If you missed it, here’s a brief rundown:

  1. The asset is a means to an end – are there other, non-asset solutions that could assist your overall asset management plan?
  2. Don’t forget to focus on the big picture – too often in asset management we look at the teeny details, meaning the big picture eludes us all.
  3. Leadership! Leadership! Leadership! – can’t be overstated. Asset management success lies with good, strong leadership.
  4. We are one – obvious, but when we work as one, we win.
  5. Be on the same wavelength – linked so closely with rule four
  6. Use the road less travelled – sometimes, doing what other businesses have done doesn’t work. Stand back, survey the lie of the land and seek guidance
  7. KISS – works every time! Keep It Simple, Stupid.
  8. No silver bullet – there are no shortcuts to asset management processes. Sure, there are solutions that can help you, but there’s no magician with a hat, shouting ‘abracadabra’.
  9. Opportunities are everywhere – keep on the lookout! You might be surprised where your next opportunity is hiding.
  10. Keep your finger on the pulse – disaster lurks if you stop paying attention.
  11. Perspective – perspective is everything! If you keep perspective on the details and the big picture, stand back, pause and reassess every so often, success is guaranteed.
  12. Heart over mind­ – it’s your people that make asset management work. Look for the best in your staff, celebrate achievements.

Make sure you’re tuning into AMspeak to hear more about asset management success stories, achievements, hurdles and opportunities.

Today is also World Asset Management Day, so give a virtual high-five to your business and employees.