The Business of Expertise: How Entrepreneurial Experts Convert Insight to Impact + Wealth

Values are the non-negotiables in our belief system that would never change regardless of the setting or external pressures. They are best discerned by observing our actions, which reflect our character. Values stem from who we are. They would

be vertical or horizontal. You simply cannot be an expert in everything.

I could point to one thing that drags people away from long-term relevance it is that they spend their best efforts on a single client instead of spending their best efforts on developing perspectives and processes for all of their clients.

The most meaningful way to differentiate your company from your competitors, the best way to put distance between you and the crowd, is to do an outstanding job with information. How you gather, manage and use information will determine whether you win or lose.

Second, vertical positioning benefits from decision makers who, when they change jobs, move to another position at a similar company, and when doing so will often take you with them.

Third, vertical positioning benefits from common venues that spread the word about your firm, like conferences,

Joan Didion noted, “I write entirely to find out what I’m thinking.”

There are certain business practices that stand as clear evidence of that lack of belief:

“What if we aren’t super busy at the moment and we could actually do a pretty good job with an opportunity that isn’t smack-dab in our wheel house?” The thing is, experts don’t think like that. They don’t look for opportunities to experiment on someone else’s dime.