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!
03:47
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Quick takeaways
- 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.
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