The Role of Advisors: The Larry Bird Strategy (EP.14)
Sep 23, 2019
auto_awesome
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!
Emulating Larry Bird's strategy in building an advisor team helps ensure you gather quality referrals from knowledgeable sources.
Carefully vetting recommendations from multiple professionals is crucial to avoid mediocrity and find the best fit for your business needs.
Deep dives
Finding Your Dream Team
Great helpers in business, such as lawyers and accountants, are rare and often difficult to find. To discover the right professionals, it is useful to emulate Larry Bird's strategy when he sought an agent; he reached out to top agents not only to gather their qualifications but to find out who they themselves would recommend. This approach allows individuals to obtain referrals from intermediaries who have extensive knowledge of the industry, ultimately helping to identify the most qualified candidates. By triangulating the responses from various professionals, one can save time and focus on a few exceptional individuals who are highly regarded in their field.
The Importance of Thorough Vetting
Choosing the right intermediary can significantly impact the success of business transactions, making it imperative to vet recommendations carefully. Many people tend to select advisors based simply on a recommendation from a single acquaintance, which can lead to mediocre results due to a lack of rigorous assessment. Relying solely on a friend's suggestion might not always yield the best fit, particularly if that person has a superficial relationship with the recommended advisor. A balanced approach is necessary, where one must ensure that the chosen intermediary not only possesses expertise but also understands the specific needs of their business.
Your advisor team is critical to the success of your transaction. But how can you build your own Dream Team? In this episode we lay out a clever strategy we learned from an original Dream Team member, Larry Bird. Discussion with Brent Beshore and Emily Holdman starts @ 1:23.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode