It is not uncommon to hear some give you free advice and follow up by saying you get what you pay for. Sometimes that is true. Unfortunately, bad advice can cost a lot if you follow it. On the other hand, paying for advice does not guarantee its value either. It is important to consider the pros and cons of the source before taking action in any case.

Paid Advice is More Thoughtful

The biggest difference between these two types of advice is the time put into providing it. When you ask someone for their thoughts as you pass them in the hall, they will provide something off the top of their head. That is assuming you even get a response. If you pay someone for their advice then they will spend time considering your question, evaluating options, and crafting a response. Freely given opinions are rarely going to include any time spent crafting them. Even an expert may not give useful input when pressed to do so without proper consideration.

Seeking an Expert

The point of all of this is to consider bringing in expert help at times. Your team may have all the skills they need to make a decision or drive a project but maybe not. In a similar way, you might have the right decision made but maybe not. Sometimes the advice you are seeking is more of a confirmation of what you know instead of a new insight. There is a lot of value in this confirmation process as it helps provide confidence in a decision. Also, it can be a way to "check your math" when you have a big decision to make. Sometimes the help you seek is returned as the collective recommendation of an expert along with some second and third opinions for confirmation.

011 - Ethical Dilemmas Posed by COVID-19