Importance of Subject Matter Experts

Dote Your I's: Why Deep Expertise Is Your Secret Weapon 🎯 Yep, that's not a typo. Dote, not just dot your I’s. I'm talking about those deep subject matter experts - the "I-shaped" leaders who might have an inch-wide aperture but make up for it with mile-deep expertise that keeps your company's gears turning. 👉The Oft Forgotten Pillars of Innovation We have praised T-shaped and M-shaped leaders. But here's the truth: your I-shaped experts are the bedrock of your product or service. They're not just important - they're the reason your company exists in the first place. So, doting on them isn’t just kind; it’s essential - especially as the loud voices from sales, finance, and marketing start to dominate the room. In HR’s 9-box Talent Grid, I-shaped leaders often sit in Box 3 (Expert Talent). But in my experience, they get way too little airtime in talent reviews. Everyone assumes they’re happily entrenched in their niche. Mistake. 👉Here's why: - Expertise isn't a fixed asset - it needs constant nurturing - Experts eventually retire or move on - Without proper mentoring, you'll face a expertise vacuum - Those "annoying" details they obsess over often lead to new upsell features or whole new products? 👉I’s are The Secret Sauce in Your Sales While your sales team might know how to open doors, it's your I-shaped experts who seal the deal—especially in B2B markets where buyers speak expert-to-expert. They're the ones turning skeptical technical buyers into true believers. 👉Real Tales from the Trenches Steven Weiler at American Express mastered the art and science of credit assessment. While the rest of us were swooning over statistical models, Steven created a template for the 5C's of credit that became the gold standard. He could turn an irate small business customer into a grateful one just by explaining the rationale behind their credit decision - now that's expertise with diplomacy! Kris Stewart, the regulatory compliance wizard at Wolters Kluwer, can make banking regulations sound as riveting as a thriller movie. Her encyclopedic knowledge didn't just impress clients - it birthed an entire product line. When Kris speaks, compliance officers lean in like they're getting tomorrow's lottery numbers. Kris keeps abreast with the evolving regulatory landscape by attending ABA conferences, reading a lot, and very importantly making it a point to write white papers. 👉The Leadership Imperative Keep your I's close, and build a culture where depth gets the spotlight it deserves. In a world obsessed with being well-rounded, remember that sometimes it's the pointy end of the stick that gets the job done. Your leadership challenge: How are you identifying and nurturing your I-shaped leaders? Are you giving them the time and resources to stay sharp and train the next generation? Or are you just assuming they're happy being the "go-to person" until they go to your competitor?

The hyper specialization of subject matter expertise in financial and professional services poses a significant and unique challenge for family offices. Market Trends: Increasing demand for niche expertise rather than generalist knowledge Rise of specialized boutique firms competing with traditional full-service institutions Growing complexity requiring deeper domain expertise Technology driving need for specialized skill sets Talent Implications: Career paths becoming more focused earlier Premium compensation for specialized expertise Challenge of maintaining broad business understanding while developing deep expertise Risk of over-specialization limiting career mobility Professional Development Challenges: Need to balance specialized training with core business skills Difficulty in cross-training across disciplines Challenge of developing future leaders from specialist tracks Growing importance of "T-shaped" professionals (deep expertise plus broad business acumen) Family offices often need the expert generalist or "athlete" that has experience across all of the vertical of wealth and asset management. Unfortunately, current market dynamics are making these profiles increasingly rare, driving up competition and compensation.

Emerging from a comprehensive discussion with experts in the Commercial Real Estate, Parking, and Facilities sectors, I find myself contemplating the richness of specialized knowledge. The occasion served as a timely reminder of the importance of industry-specific wisdom in an age increasingly dominated by broad-brush information and algorithm-driven insights. While it's possible to glean useful information from mainstream platforms like LinkedIn, Twitter, or Instagram, these venues often lack the nuance and depth provided by direct interactions with subject matter experts. One such conversation with Eileen McMorrow, an industry veteran, allowed me to appreciate the granular complexities and opportunities within these sectors. Specialists act as valuable navigational aids in a landscape dominated by generalized information. They offer insights that are not only detailed but also highly relevant to current industry challenges and opportunities. As we continue to engage in our respective fields, it's imperative that we seek out these deep wells of specialized knowledge to enrich our understanding and decision-making capabilities. In a world where information is abundant but wisdom is scarce, specialized knowledge is not merely a tool—it is a competitive advantage. #IndustryExperts #SpecializedKnowledge #CommercialRealEstate

Subject matter experts are gold. Physicians, nurses, and other clinical professionals reach out in private to share their stories. Many are seeking guidance and advice. None ask for clinical advice because I'm not a clinician. They do, however, reach out on occasion to learn my administrative perspective on hospital leadership and healthcare financial management because that is my background. As a lay MBA hospital administrator of nearly 30 years, I, too, seek out SME advice in areas new to me. Benefits plan design and direct-to-employer contracting are new to me. Where do I go to learn, receive guidance, and seek partnerships? I seek out the respected professionals doing the work with years of success. I rely on referrals from trusted sources well-known in the industry - SMEs with a national presence. The learning curve and competitive markets are hard enough without seeking advice from those who've never performed the job. I go directly to the source, both the expert advisor and the employer needing a partnership. I'm grateful for the shared expertise and partnerships of many to make a difference for patients. 🌟 #sme #dte #dpc #primarycare #benefitsconsultant #healthcareonlinkedin #accountability #transparency #caa #fiduciaryduty #digitaladoption

We were in a meeting last week. Tom Healy and I host multiple groups of smart business people each month here in the Phoenix Valley in our mentumm offices. Something was said by a brilliant guy who we really like named, Darren Wilson. Darren mentioned that a mentor (way back when), told him to, "get good, get busy and get expensive." We loved this! I got thinking...this is certainly sound advice, but it's almost NOT COMPLETE ENOUGH advice to offer someone who's getting started in their entrepreneurial 'craft' or 'sales' journey in TODAY'S world. So, with what we've learned, we'd slightly AMEND this sage sequence of advice--we'd ADD one component to the equation and we'd MODIFY one other. Let me take a stab at walking through this... Get GOOD: For sure. 100% And not only "good" at your craft, but you should want to become GREAT! Strive to LEARN something NEW each day. Make it an obsession to stay on the grow in regard to your skillsets and mindsets. Get BUSY: What this means to us is that you have a FULL calendar each and every day. And that calendar should be as full as possible with 'at bats' with people you believe to be QUALIFIED prospects. And while closing a deal is a good thing, the next best thing is what you LEARN--the feedback you get from your prospects and clients. This input is even more valuable to you than a single sale because it can help you REFINE your offerings, your message, your presentation, etc. Get NARROW: (The one we added) Okay...we added this one to the equation because we believe it's almost impossible to survive and thrive in business today if you are merely another "GENERALIST" out there in the crowded, noisy space you're in. We know that SPECIALISTS eat the lunch of generalist every day. So, you need to NARROW DOWN. You must become a subject matter expert (SME) in your chosen field, area, space, market, etc. So...it isn't ENOUGH anymore to just be "good" or "busy." You have to be those two things for sure, but you also most become viewed as a SME in order to truly scale! Get WEALTHY: (The one we modified) Darren's mentor said, "get expensive," but we like, "get WEALTHY" better because just CHARGING MORE for your time won't create SCALE for you. We'd like you to think about ways to develop multiple streams of income, and perhaps ones that are more passive, or require LESS of your time. How can this APPLY to your business? Anyway...just my 2 cents on a Saturday morning as I review all of my notes from this past week and drink my first cup of coffee. 😎