In this article we answer 2 questions that arise often :
- What are the benefits of a one hour second opinion for a CEO or business leader?
- Why not hire a traditional consultant?
First of all it depends of the situation and context. Both types of external advisory is of use.
What are the benefits of a one hour second opinion by an Xpert for a CEO or business leader?
There are several benefits for a CEO or business leader to seek an external expert second opinion, and these benefits can ultimately help improve decision-making. Here are a few key advantages:
- Provides a fresh perspective: External Xperts can bring a different perspective, experience, and knowledge base to the table. This can help to see a problem or situation from a different angle, which can lead to new insights and solutions that may not have been apparent before.
- Offers specialized expertise: Depending on the nature of the decision, an external expert can offer specialized knowledge and expertise that the CEO or their team may not possess. For example, if the decision involves complex technical, organisational, financial analysis or legal matters, an external expert with that background can provide valuable insights and advice.
- Minimizes bias: There might be personal or organizational biases that can influence decision-making. An external expert can provide an objective and unbiased opinion, which can help mitigate the impact of biases on the reflection or decision-making process.
- Increases confidence in the decision: When a CEO has an external expert provide a second opinion, it can help increase their confidence in the decision they ultimately make. Knowing that an experienced and knowledgeable expert has reviewed the situation and agrees with the decision can help the CEO feel more comfortable with the choice they make.
- Reduces risk: By having an external expert review a decision, the risk of making a costly mistake can be reduced. The expert can identify potential risks and provide insights on how to mitigate those risks, which can help to make a more informed decision.
- It supports the CEO or business leader to be very crisp on the challenge and the thinking. It will help once the decision is made in the resulting communication challenge.
In summary, seeking an external expert second opinion can provide a CEO or business leader with a fresh perspective, specialized expertise, objectivity, increased confidence in the decision, and risk reduction. All of these benefits can ultimately improve the quality of the project or decision-making process and increase the chances of a successful outcome.
Why can this be better with an hour external discussion than hiring a consultant for a longer period?
Seeking a second opinion through an hour-long discussion has several advantages. It tailors to specific needs.
- An hour-long discussion is typically more focused and targeted than a longer consulting engagement. In a one-hour session, a specific problem or decision is brought to the expert, and they can provide insights and advice on that particular issue or support you in the scoping.
- An external expert second opinion can be more cost-effective than hiring a consultant for a longer period. Consultants typically charge per day or project, and their fees can add up quickly. By seeking an external expert second opinion through a one-hour discussion, the CEO can get valuable insights and advice without the long-term commitment.
- An hour-long external discussion can be more efficient and flexible. If the CEO or business leader needs quick advice or has a specific decision to make, an external expert second opinion can be scheduled and completed in a relatively short amount of time. This can be especially useful in situations where time is of the essence.
- It can provide a more personalized approach. The expert, through its expertise can tailor their advice and insights to the specific needs and concerns.
In summary, while hiring a consultant for a longer period can provide ongoing support and guidance, seeking an external expert second opinion through an hour-long discussion can be more focused, cost-effective, efficient, and personalized.