The Value of Having Many Advisors

By Robert J. Tamasy

Some time ago I received a phone call from a friend who told me about a new business venture he was planning. He asked if I, being a writer, could come up with a catchy, marketable title for the enterprise. My friends know me as the guy who is never at a loss for words.

Before starting to think of clever names for the business start-up, I asked my friend if he had done his due diligence in researching the pros and cons of this particular type of company. He said he had already done that, and was eager to get underway. I had no background in that type of business, but two of my friends had engaged in ventures like that in the past. So I urged my friend to contact them and ask for their feedback. My desire was not to discourage him or change his mind, but to ensure he had examined all aspects of the proposed business to avoid problems in the future.

Tags:  Value, Advisors