Do 2nd Opinions Really Pay Off?

I was told by an experienced CEO that our generation (35-50 year olds) are weak decision makers because we seek 2nd opinions.

I don’t agree. Ironically, that same CEO has spent millions of dollars on a project that will never earn back the money invested – all because he didn’t reach outside of his tight network for a 2nd opinion.

I am a business owner and I hire experts to provide 2nd opinions on marketing, IT, insurance, staffing, and other solutions to improve my business. And here is why:

Time is Money

They accelerate my decision-making process so I can implement and experience the benefits of the improvement sooner.

They pay me back 10x. My time spent on other business items, while the expert researches and provides the 2nd opinion, produces a bigger return of revenue than the money paid to the 2nd opinion expert.

They uncover and remove my bias. Sometimes I am caught in the weeds of the problem and can’t rise above to think clearly and objectively. Thus, I don’t ask the tough questions.

They provide lessons learned by other businesses so I can avoid time and money wasters.

They are researched and produce a more permanent solution. The mad-dash approach to fixing a problem is a band aid. We all know band aids peel away and a permanent solution is better.

So whatever you do to improve your business –

Do not ponder too long

Time is money and objective solutions bring clarity and time to focus on your business, staff, and clients.

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