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Oct 08

You can’t trust advice from a bloke at the pub…

My recent post with this opening comment attracted more than average attention, perhaps because it rings true with many.  It was prompted by that the following ironic scenario.

I was referred to talk to a couple of entrepreneurial young guys, eager to start a business together.  They were full of enthusiasm, which is always great to see.  They had identified the ideal unit for their business and wanted our advice and guidance on negotiating the terms of the lease with the agent acts for the landlord.

However, as their story unfolded and they identified the building; and as they set out their business model to me, there was a flaw in the story they were telling me, so clear that I could not allow the conversation to go forward without explaining to them, the basis and context of my concern.

Thankfully, after initial surprise about what I was telling them, they could see exactly what I was saying and why.  They understood the concern I had about their ability to succeed in their plan, with this issue unresolved.  My view is that it won’t be worth the time and cost to overcome.

I have suggested how they can ‘bottom out’ the matter and make a judgement about whether the object of my concern was truly fatal to their strategy.

cc-pubThe point of the story is this: whilst it had already been recognised that there was an issue, they had been told by more than one person “no, that won’t be a problem at all”, which in their enthusiasm, they had willingly accepted.  Where had that advice been given?  Well, in the pub of course and clearly by people who lacked the professional understanding of the issues and the experience to advise!

The irony that struck me as I was explaining the reality and magnitude of the challenge, was that we too, were sitting in a pub.  Hence the conclusion of the tale is…

“…unless the bloke happens to have 32 years’ experience doing exactly what you’ve asked about!”