Friday, April 22, 2011

In House

The world is so complex that there will always be limits to the knowledge we have, but there may be no limit to the knowledge we need.

I was interviewing the MD of an award winning internet / retail business that has doubled its High Street presence in the last couple of years.
http://www.youtube.com/watch?v=lJFC8_yu5hg

I asked about the advice he would give to the many people out there that are looking to set up a similar business model. He replied that he had chosen to take the necessary expertise in house; he has people on the payroll that know how to create, develop and run an internet business. The alternative he added is to use external support, but these people are not and can not be up to speed with what is actually going on, on a day to day basis. This means there is always expensive ‘catch up’ time to pay.

So what do we do? Well it depends on your business model, it depends on how often you need the expertise. I prefer to ‘pay as you go’ because there is no day to day requirement for support in our business.

We make a list of internet based things we would like advice on over a period of weeks and then have a day’s worth with our adviser.

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