Why Should You Hire an Expert?

-by Dr. Kruti Lehenbauer

This week's posts centered heavily around the concept of Best Practices of Business Policy and focus around lowering costs strategically while still scaling the business and the role that experts can play in helping with all of these!

I am deliberately choosing to avoid talking about LinkedIn algorithms this week (short summary - they are wonky again!) but I am definitely thrilled to say that I am absolutely loving all the comments and interactions that I keep having with you folks on LinkedIn!!

ANNOUNCEMENT

On Tuesday, August 20th, I am participating in a Webinar with my dear friend and respected colleague, the RevenueChasers LLC's Michelle L. (Conkle) Page who is a GTM expert. We will also be joined by Fixant's CEO Lori Sloan who, in my opinion is the Queen of Copilot Prompts. (see her newsletter here: Tips for Microsoft Copilot)

I hope to see you there, if you can attend!!

This week brought out the next level of short-form video with embedding music and even AI voiceovers and closed-captions in some of the posts! It was a lot of fun to use a combination of Apple technology (iPhone camera) alongside Microsoft technology (Clipchamp) with good old-fashioned pen and paper (okay, Post-Its!) to create this week's posts.

Main topics covered in the past week Post-Its were:

1. We started the week by discovering 6 Best Practices for Business Policy that impacts AI, Data, and other departments and decisions.
2. Thereafter, we took a closer look at the Measurement of metrics aspect of the Policy Best Practice by discussing why the bigger picture is important for decision-making instead of focusing on just the metrics.
3. Following the importance of Data-Led versus a Data-Driven approach, we took a look at the concept of Cost Efficiency to learn that pursuing lowest cost options requires identifying various costs correctly first!
4. Thereafter, the costs of designing were discussed based upon whether a business was trying to do-it-all themselves or were considering hiring an expert. The key takeaway here was the ability to identify how much should one be willing to pay an expert for their help!
5. We concluded the week with a discussion of marginal costs which are crucial to consider before scaling the business and changing production.

I have started a hashtag called #PostItStatistics on LinkedIn, Instagram, Facebook, X, and YouTube to share my Post-It Statistics in a variety of formats in case you want to follow along the weekly Post-It videos on these as well.

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TLDR: Presenting the PERMIT model to enable decision-making and optimization with some key characteristics to consider for the policy. H/T Adam DeJans Jr. for the original idea!

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TLDR: Consider moving from "data-driven" to "data-led" decision-making and keep an eye on your vision!

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TLDR: Depends on what costs you want to consider when calculating the "lowest" one.

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TLDR: The differential between what it costs an expert to create a design and what it would cost you to create it for each level of supervision, advisory role, or help determines the appropriate price range. H/T: Mathew Schulz for inspiring this model!

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TLDR: Your Marginal Costs might be low but you might be ignoring your Average Total Costs, if you're not scaling correctly!

I also want to take a moment to personally thank Matchat for highlighting one of my Post-It related quotes so beautifully. If you're not already following them for great quotes and great content, you're missing out!!

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