We've Got It Handled: The Value of an Outside Perspective
Over a decade ago, on a Friday afternoon, you put the finishing touches on your Articles of Organization and founded your company. You completed the online application, and you were in business. By Monday morning you had hit your first roadblock … you needed some advice. You reached out to a friend who suggested you hire an attorney to assist you. It seemed like the adult thing to do, so that is what you did.
With no clue how to vet an attorney for the quality of their work, expertise, or rate you just trusted it would all work out. The relationship was a struggle from Day 1. And by the time you had the answer you sought, you were frustrated and annoyed. Then you received the bill and fell out of your chair. I have been there myself and know exactly how you feel - completely taken advantage of and vowed to never make the same mistake twice. You wrote off professional advisers and became a do-it-yourselfer!
Fast forward to the present day: you’ve built an incredible and vastly complex business from your humble beginnings. You worked hard and allowed yourself to learn from every mistake. You’re a lot smarter about a lot of things ... But deep down you know your limits. You know you cannot be the expert in everything. You know you need some professional assistance, but you cannot forget how you got burned back in the day.
What Do You Do Now?
One option is to stick to the “we’ve got this” approach. You know this feeling. The one where you clench your fists a little tighter and dig your heels in. In my observation, this approach is employed by less successful businesses. The second option takes the opposite approach. It assumes that there is an expert out there who can get to the goal quicker and more efficiently, so there’s no need to “reinvent the wheel”.
If you choose to hire an outside professional for your business, you must make it incumbent upon them to clearly articulate why they’re worth hiring. In cases where they articulate a solid ROI rationale, I still recommend (where possible) to “crawl, walk, run” with your chosen adviser. Scope out a trial project. If that works, scope out something more meaningful.
Recommended Reading: What’s a Transactional CTO and Why You Might Want One
If you can set aside your past nightmares, embrace your need for some outside expertise, and adopt the “crawl, walk, run” approach, you may find engaging an outside adviser is one of the best decisions you make for your business.
At Doescher Group, we work with business owners looking to exit on their terms. A big part of our service offering is assuring our clients are represented only by professionals who conduct themselves with integrity and excellence. If you’re looking to upgrade or expand your professional team, reach out to Doescher Group today.
