Value of Experience

Technology Today
May 28, 2019
Why Expertise Matters
June 11, 2019

Experience is typically obtained through investing via two means:

Time:      Performing the actions yourself

Money:   Paying others to bring the experience

By investing in experience via Time, one obtains the benefit of learning firsthand.  With that intimate experience comes some challenges:  muscling through it, making mistakes, and potentially having to retread paths, even starting over if needed – or at worst, having to scrap the effort.

By investing in experience via Money, one can still obtain the benefit of learning firsthand, while minimizing the pitfalls of trial and error.

In some cases, Time is the main way to invest in experience.  Parenting is the classic example!  Even then, it makes sense to invest via Money – perhaps through buying books, attend parenting classes, maybe even seeing a counselor if needed. At the very least, we ask others for advice, whether parents, friends, or others.  In summary, to go it alone isn’t in our natures – and it’s not the best way to be successful.

In business in particular, Money = Time.  The two are inseparable. If we decide to ‘go it alone’ and invest via Time, the question isn’t always whether we will complete something.  It’s whether or not we will get the result we desperately need in the timeframe in which we need it. With the current competitive landscape facing banks and financial institutions, one thing they don’t have is time.

Invest in partners that will help you realize your vision sooner, with the least amount of friction possible, and you will have the results you seek!

Investing money in experience saves time, the one commodity we can’t make more of. When has investing in experience saved you time (and money)?

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