When you are starting out in a new venture, you probably have a ton of questions about getting started. “How do I do this?” or “What happens when…”. You can spend lots of time searching for the answers that you need wasting countless hours of precious time or you can go talk to an expert.
Why do I need an expert?
For the same reason you should hire a plumber to fix a leaky pipe you should always hire an expert to help you build your business. While its great to be good at many things, its better to be an expert in working with subject matter experts towards a goal.
But experts are expensive!
The saying goes that it costs a lot of money to be cheap. What does this mean? It means that cutting corners, doing things you aren’t qualified to do, and making big mistakes can end up costing you lots of money. As an example, if you purchase a 40 unit apartment building without having a qualified inspector look it over you think you are saving a few hundred dollars. While you don’t have the proper skill or knowledge to look for all of the possible structural defects, you think you can save some money by doing it yourself. Then fast-forward a few months…after the first big rain shower. One of the walls of the building collapses. How much money is that going to cost to fix? How much is the inevitable lawsuit going to cost you? Add up all of these costs and you can easily see how much money it really costs to be cheap and cut corners.
How do I find an expert?
Finding experts isn’t near as difficult as you think. The best place to start is with your sphere of influence. The people that you know and talk to on a daily basis. Then move out to the farther reaches of your circle. Talk to your attorney, your accountant, or your doctor. Ask each of them if they know anyone who they would consider an expert in whatever field you are looking for. You’d be surprised at how many people know experts in many different areas. Sometimes, your doctor may play golf with an expert real estate attorney. If you are having trouble getting started, do an internet search for “experienced real estate attorney” and add in the town your are focusing on. That should return you lots of different names. Make a list of the names and start searching for each of them to see what others have said about them. You should be able to get enough information to narrow down your list and be able to interview the finalists to finally choose the expert you need.
From understanding why you need expert help to finding an expert to work with, all of these decisions are important for you to consider when you are starting your business. Have questions about how I hire experts to work with…let me know in the comments below.
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