Lessons in Entrepreneurship, #2 of 5: The Hardest Lesson

And here it is: Carefully vet your vendors, then take their advice!

As entrepreneurs, we have learned to be resourceful and self-reliant. These are important qualities that are a key factor in our successes. Equally important is having the wisdom to trust the professionals we employ. That is, recognizing that we have expertise in our own areas, but we are not expert in everything. Due diligence is important in selecting the right vendors, but once they are chosen, we have to get out of the way and let them do the work we’ve hired them to do. It's the hardest lesson and is an extension of learning to effectively delegate, which is another tough one.

I readily admit that I am accustomed to being in control and to making the business decisions, so I sometimes struggle with this lesson. I’m not the only one. Working with our clients, there have certainly been times when we’ve encountered someone who insisted on using certain functionality or who made choices for his website that were completely against best practices (and of course, contrary to what we advised). It is extremely frustrating for the vendor and shortsighted on the part of the client.

Why would someone hire a professional and NOT take their advice or seek their guidance? There are only two reasons:

(1)    Lack of trust in the vendor’s expertise.
If you have selected a vendor and discover through your dealings with him that he lacks the expertise you originally thought he had—FIRE HIM. Hire someone you have confidence in, and then rely upon the professional to guide you.  If this happens twice, you may need to revisit your vetting process. If this happens three or more times, the problem is not the vendors—it is YOU. Remember that finding a good vendor does not mean finding a vendor who will tell you what you want to hear, but instead, a vendor who will tell you what you need to hear.

(2)    Overinflated opinion of oneself and one’s abilities.
If you are truly of the opinion that you know more than the full-time professional, perhaps you are in the wrong field, or you may be in for a “journey of discovery.” Yes, that is a polite way of saying you will spend more time and more money than you think and likely will end up with (at best) mediocre results. If you are determined to do it your way, you might as well save the vendor the frustration and you the vendor’s fees and go it on your own. Sometimes we all have to take a “journey of discovery” to fully appreciate the value and wisdom of consulting a pro.

The very most successful business owners are those who spend their time on the areas that truly require their expertise, and then hire out the remaining work to others. This is not only the best use of your valuable time but also ensures that those areas delegated to others are receiving the best advice and level of service possible.