While I make most of my strategic moves in the boardroom instead of on the field, the strategy is the same: seek the expertise of people with specialized knowledge.
As a Senior Financial Executive, I’m often asked to weigh in on a variety of strategic initiatives, all designed to solve a problem or help improve a process. The challenge? Many of these “solutions” require a significant investment in financial and human capital often over a period of a year or more and don’t guarantee the promised results.
With risk management as a priority, there are two considerations that can effectively help manage business risks. The first is to develop a process document that clearly defines your approach to evaluate and assess the current situation. It should include set expectations around resources, timetables and deliverables and require a review of multiple solution options. The second is to look for suppliers who have a reputation for successfully partnering with their clients to achieve the business objectives, and who are not tied to a single “solution.” Confirm that the partner you’ve chosen has a proven methodology to execute the solution.
This is where the question, “Who’s on your team?” gets answered. Having a team of trusted specialists behind you can really showcase the value you bring to the table. Continue to develop relationships creating a diverse network of colleagues in your profession – people you can seek advice and counsel from on a wide range of subjects, people you can solicit for candid feedback. Your growing network will strengthen your ability to provide insight in new areas and even in areas you’re familiar with. Having the personal guarantee of a proven, expert partner is the ultimate touchdown.
My pursuit of expert information is how I learned about the Meridian Healthcare team, part of Meridian Group International. The Meridian Healthcare team earned its strong reputation as an effective technology partner helping their clients by using a comprehensive four stage process.
The success I saw passing along my knowledge of these comprehensive healthcare experts to my network, led me to become a part of their board. As part of a board of professionals in various positions and specialties, I am able to offer my unique perspective in an entirely new way and in turn, gain insights from others into the unique challenges and initiatives facing leaders of hospitals and life sciences companies.
My advice: build yourself a team, share your knowledge and don’t hesitate when it comes to extending your reach. I’m now part of a team of healthcare experts that possesses the experience and agility to drive the healthcare industry forward; Meridian Healthcare.
Henderson Global Funds