Where are you getting your business advice
Asking business advice—it really matters who we ask what.
When we seek advice from peers or colleagues we are usually cognizant of the person’s expertise and ability to advise on the subject matter. For example, we know not to ask the newly divorced friend about the wonderful aspects of marriage, the financially independent person about the best place to purchase inexpensive items or the childless person about dealing with disciplinary problems. However, when small company owners seek business advice, I often see them forget this fundamental concept. When we search for business advice, we want to make sure the person has the experiences and insight into our particular situation. A “one size fits all” strategy does not apply to business problems.
Given the current economic conditions, there is an increased tendency to frantically search for advice. Frustrated and scared business owners, turn to friends, family and colleagues to whom they feel close and connected with, independent of that person’s business acumen. As a result, they make decisions based upon well-intended but often misdirected advice.
I am not suggesting that we only seek advice from those with direct application to our situation. To the contrary, we should seek the opinion from a variety of sources thereby gaining a well-rounded view. What I am suggesting is that we consider what questions we ask of whom.
As nervous business owners seek more advice during these troubled times, applying the right advice to the right situation can make or break the company. Be sure to consider the source and strive to align the appropriate question with the advisors background, experience and expertise.
When we seek advice from peers or colleagues we are usually cognizant of the person’s expertise and ability to advise on the subject matter. For example, we know not to ask the newly divorced friend about the wonderful aspects of marriage, the financially independent person about the best place to purchase inexpensive items or the childless person about dealing with disciplinary problems. However, when small company owners seek business advice, I often see them forget this fundamental concept. When we search for business advice, we want to make sure the person has the experiences and insight into our particular situation. A “one size fits all” strategy does not apply to business problems.
Given the current economic conditions, there is an increased tendency to frantically search for advice. Frustrated and scared business owners, turn to friends, family and colleagues to whom they feel close and connected with, independent of that person’s business acumen. As a result, they make decisions based upon well-intended but often misdirected advice.
I am not suggesting that we only seek advice from those with direct application to our situation. To the contrary, we should seek the opinion from a variety of sources thereby gaining a well-rounded view. What I am suggesting is that we consider what questions we ask of whom.
As nervous business owners seek more advice during these troubled times, applying the right advice to the right situation can make or break the company. Be sure to consider the source and strive to align the appropriate question with the advisors background, experience and expertise.
Posted by LW and Associates at 5/27/2010 7:54 AM 
Categories: Leadership
Tags: economic conditions; business owners; business advice
Categories: Leadership
Tags: economic conditions; business owners; business advice
The internet, despite being a wealth of knowledge can also be a bit dangerous for someone seeking advice for something as important as guidance for their business. In my experience the best advice can only come from experience. Funny, I stumbled upon this looking for start-up business info!
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I couldn't agree more--I am glad you found my site. Please also visit www.LWandAssociates.com for more business information. Lori Williams
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This is such a great resource that you are providing and you give it away for free. I love seeing websites that understand the value of providing a quality information. Thanks for sharing.
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Have you considered adding more videos to your blog to keep the visitors more entertained?
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This site is intersting - with a lot of up to date neat info.I enjoy your website theme where'd you get the layout?
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