Good Advice?

Elections make people do funny things don’t they?  The world of politics isn’t for everyone and there is good reason for that.  There surely has to be some sort of strategy to get elected or re-elected and in the big end of politics advisers abound.  But is their advice good advice?

Up front I will say I did not watch the 60 Minutes episode featuring the Prime Minister and his family.  I saw snippets of the episode and that was enough for me.  There has also been enough commentary to form the view that the interview may not have been the best choice.  Time will surely tell at election time if the interview plays any part in the outcome.

The question has to be asked though.  What did the Prime Minister want to achieve from the interview?  Was it his idea or his advisers idea?  Either way there should have been a discussion regarding the benefits of the interview and the possible ramifications.  What was the risk?

We take risks any time we receive advice from someone.  It could be professional advice or personal advice from a friend.  Personal advice is fraught with bias as the friend providing the advice is speaking from their situation and their experience.  The situation of the person receiving the advice may not be exactly the same and the advice provided may not be the best option for that person.  When we are receiving professional advice i.e., legal, financial, business, we expect the person providing the advice to be an expert in their field and that is why we remunerate them.

Yet, as we know, it is not always the case that we are receiving the best advice.  How much experience does the adviser have both theoretically and practically?  How do we know?  That will take some time and effort to research if you want to be sure.

Yet how often do you make the effort to ensure you are getting the best advice?  Do you care?  Is it about the cost and the perceived value?  Are you willing to take the risk?

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