Sharing Daily Discoveries About Personal Finance And Business Topics

Buying Experience With Money

I was having a discussion today with another person in regards to a company where when they first started they had absolutely no experience in the field and therefore everybody waived them off. They were going against some pretty established companies too. However, what they did have was success in other industries and a lot of money.

Interestingly enough, it seemed like ultimately that worked for them as with their money they were able to essentially buy companies and talent in order to compete. We were then talking about how while it makes a lot of sense most people would probably not do this as in many ways I think a lot of people would find it a little unethical if one business was essentially trying to poach talent from other companies.

I’m a little indifferent as ultimately I guess as for the company its bottom line is to simply make money and so in that sense I guess you could view this as simply an aggressive strategy. I am surprised at how a lot of people don’t even view this as a potentially good way to get started if you are starting from scratch. Even a good worker can usually bring a business a lot of customers just from their reputation. For example, it isn’t uncommon for a company to lose customers when an employee they are used to leaves for whatever reason. Therefore, spending money in getting experience people or other companies can be more than just logistical talent.

This of course may not be an option for like the solo entrepreneur. However, I think it can still hold true where you can either focus all your efforts in trying to build things from ground up or you can simply buy the experience to potentially give you the boost you need to be semi competitive. Example, spend $10,000 in advertising and developing talent or a guy that has been there and done that kind of situation.

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