Marshaling the Right Resources

Remember, that there are two kinds of knowledge you need to accumulate as you grow your company: the things you know you don’t know and the things you don’t know that you know. You can attack the first body of knowledge simply by asking questions. If you come across something you never heard of, ask someone who has. The second kind of knowledge comes to you by putting yourself in the right position. Become part of a peer group where regular discussions provide wisdom that you would not get otherwise. Further, begin to bring people into your business that have specialized knowledge in areas critical to the success of your business.

What are the right resources? Consider your knowledge in the areas of Finance, Human Resources, Information Technology and Marketing. In Finance, there are well qualified interim and part-time CFO’s that may work a day or two per week or month and their engagement fees cost a fraction of a full time CFO. There are also Human Resource experts available on interim and part-time bases and know how to get smaller business in shape to manage their people properly and develop their people plans for the future. All business owners need to have access to an Information Technology person with the qualifications to help the owner develop a technology plan that matches the business plan. Finally, look for an interim Chief Marketing Officer who understands the strategy of marketing and how to develop these strategies and get them communicated.

The important point here is to get the help your company needs on an appropriate basis in advance of your company’s ability to afford that expertise full time.