TRICKS

Today’s post by Paul Fisher that highlights conflicting headlines on what is likely to happen to inflation in coming months, by journalists at the FT and BBC, got me thinking about ‘experts’.

I agree with Paul’s assessment that, “the only consistent theme is that no-one really knows what’s going on”, but have to confess to being disappointed by the reality of it. After all, we put a lot of faith in our nation’s political and intellectual leaders to both steer us away from and, when necessary, get us out of, trouble. It would appear this trust could well be misplaced.

Which brings me back on topic.

It is very easy, when running your own business, to defer to business advisors. You admire their wealth, confidence, connections and wise owl glint and when they stand up in front of a lot of people, they talk with conviction.

CAUTION.

“You should do this…” is a statement that costs an ‘expert’ nothing but could cost you everything.

Be very wary of making important business decisions off the back of ‘advice’ from ‘experts’. They do not know your business as well as you. You are the most knowledgeable person on the planet on that topic.