The value of deep expertise

Imagine: company XYZ is launching an IT transformation project. Like so many. Their systems are outdated. They’re replacing it now for something future proof. Now, here’s what happens.

During their preparations, they talked to some external people and firms, but were shocked when they heard about their prices. So, they let that option go and tried to save money. They decide to hire just a couple of external people and appoint a relatively large team of internal people to lead the project. Their internal people have limited experience. The project turned out all together as a disappointment. They ended up three times over the allocated budget and two years over their initial planning. Reputations were hurt and leaving many disillusioned. This is not an exception. This happens again and again. These findings are supported by *scientific research. In hindsight they decided penny wise, but pound-foolish.

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Key message for companies

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If possible, don’t try to save too much on hiring people that have the proven track record and experience to finish a job when it comes to business-critical projects. Solution: don’t spread yourself (and your investment money) thin on too many priorities. Work on a small selection and allocate your (financial) resources there.

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Review projects that are ongoing and not delivering the expected value fast enough. By stopping some of these, money can be freed up to invest in other places.

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Key message for experienced individuals

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Don’t underestimate the value that you can bring to business projects. Whether you are on their payroll or not. You simply cannot fake experience. Artificial Intelligence will not be able to replace your deep expertise. You’ve lived through it. So, if you have 20 or more years of experience and a tangible track record in your line of business, what are some do’s and don’ts?

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Do’s

1. Know what the true value of your expertise is. Talk to people around you to update your understanding.
2. Connect your expertise to the value creation of the company. How are you making impact? Does it help them grow their revenue? Helps them to save costs? Helps to mitigate their risks? At the end of the day, it’s pretty straightforward: your contribution must move the needle on at least one of these three; or all three.
3. Keep your expertise up to date! If you talk to a company, you need to know what’s going on in their business. What keeps them awake at night. It’s not effective to come in with a toolbox from your university years from the eighties or nineties of the last century. Experience is not the value in itself: it’s how you make it available for their business.

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Don’ts

1. Never ever be arrogant or shy about your value. Your expertise is just a temporary asset. Make no mistake, everything moves forward and there will come a day again when your expertise becomes outdated. Stay humble.
2. Don’t undersell or oversell your expertise. Whether it’s on or off their payroll.

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Hope this inspires

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Paul Donkers

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“IT projects have a legendary reputation when it comes to going over budget and delivering lower than expected benefits. We know from science* that 18% of all the IT projects have above 50% cost overruns. And for these, the average cost overrun is as much as 447%! Your eyes are ok, no less then 447%!”

* How big projects get done by Bent Flyberg, isbn 978-0-593-23951-3

Paul P.J. Donkers is a sought-after global business coach and management consultant. More about his work and projects can be found via?www.tencompany.org?and via?www.ikigaicoachinginstitute.com

Paul and his partners work since decades with?leaders to?assist them create more value. If you want to have a confidential conversation, just reach out to us via?[email protected]