Channeling advice
As a FracCFO, a founder, a finance educator, a podcaster, and an advisor…
I’m in a whole lot of group chats.
Someone in one of the channels was recently asking for some advice.
But their ask was quite nebulous, and folks in the group were struggling to be helpful.
It got me thinking about the differences between how we use group chats, expert advisory, books, podcasts…
When we have issues, these are the kinds of places we turn to.
But when we pick the wrong place for the wrong type of question, we can end up with some really unsatisfying guidance.
Group chats:
Great for: Very specific questions where you want a bunch of possible solutions pulled from anecdotal experience.
Downsides: The medium doesn’t lend itself to clarifying questions before answering. So you get a lot of noise that may not move you forward.
Peer check-ins:
Great for: Brainstorming and going deep with someone who can rubber-duck your problem, offer help from their own experience, or simply lend a sympathetic ear.
Downsides: Highly variable in quality. They’re not you and they’re not in your business. Often their advice reflects their world, not yours, so it can be off-base. Helpful for perspective; limited for precision.
Expert advisory:
Great for: Context-rich, situation-specific thinking. Advisors ask sharper questions, pressure-test assumptions, and give you frameworks and examples (not just anecdotes) to make better decisions.
Downsides: Expense and variability in quality. Bad advisors won't be any better (or may even be worse) than asking a peer. And if they suck, you not only wasted your time, but also your money.
Books:
Great for: Lessons that last - because you can turn to a great book again and again. Books can inspire, inform, and if one isn't helping, you can just put it down.
Downsides: Time. I always try to keep in mind that telling someone to read a book actually adds one more really big task to their list. If they're struggling with overwhelm, burnout, stress from too much going on, recommending a great book is sorta tone deaf advice.
Podcasts:
Great for: Passive learning, story-driven insight, and hearing how other operators navigate similar challenges. They spark ideas and show you there are many ways to win. Also, you can listen while commuting or doing the dishes.
Downsides: Not everyone is a "podcast person". And they take time to consume. Hard to know going in if they'll be relevant to your issue. Plus, they're hard to go back and reference if you're looking for step-wise, practical advice.
And then… there’s your own judgment.
The one tool you carry between every channel.
The filter that decides what you keep, what you discard, and what you try.
Choosing where to ask a question is almost as important as asking a good question in the first place.
So the next time you’re stuck, try asking yourself:
Do I need empathy?
Do I need specificity?
Do I need inspiration?
Do I need a framework?
Do I need pattern recognition?
Or do I need someone who can sit inside the problem with me?
Pick your place accordingly.
Enjoyed reading this article? Subscribe to receive more via email here.
Know a Founder or Entrepreneur who'd love this content? Please share it!
