Permanent Podcast: Real Talk About Private Equity and Buying, Selling, and Operating Small Businesses The Role of Advisors: The Larry Bird Strategy (EP.14)
Sep 23, 2019
Brent Beshore, a transaction strategies expert, and Emily Holdman, who specializes in building top-tier advisor teams, delve into the art of assembling a winning advisory team. They draw inspiration from Larry Bird's unique selection strategy, emphasizing humility and resourcefulness. The discussion highlights the balance between expertise and personal connections when choosing advisors, cautioning against over-reliance on recommendations alone. A must-listen for anyone looking to optimize their business transactions!
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Larry Bird's Agent Selection Letter
- Larry Bird mailed top agents asking for bios and references to appear professional.
- His real question asked who they'd recommend if not themselves, and he picked the consensus choice.
Use Third-Party Recommendations To Find Top Advisors
- Ask intermediaries which other advisor they'd choose instead of themselves to find the best people.
- Triangulate recommendations and focus your time on the few names that repeat.
Leverage Experts' Information Advantage
- The Larry Bird story balances humility with street smarts and reveals a simple hiring heuristic.
- Asking experts who they'd pick leverages others' information advantages to surface top talent.