Consulting: Eliminating Uncertainty

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I wanted to bring to the attention of readers a really good article written by Nick Maggiulli, an analyst with Ritholtz Wealth Management. You can read the article via the link below.

In his article, Nick talks about becoming an “uncertainty killer,” someone who helps eliminate or minimize uncertainty for co-workers and employers, as a way of enhancing one’s career prospects and value to others in the workplace. His advice is excellent, in my opinion.

I think Nick’s advice is applicable far beyond career advice, though. The idea of being an “uncertainty killer” is highly applicable to real estate consulting and how consultants interact with their clients. In my observation, most clients—especially developers—are plagued by uncertainty about their projects and are looking for someone to help them reduce that uncertainty to a level they (and their lenders and investors) feel comfortable with and can accept. With millions of dollars at stake, developers need to know they’re not just rolling the dice with their projects.

It’s impossible for consultants to eliminate all uncertainty, however, so that’s why I’ve always felt that the best way for a consultant to respond to a client’s questions is to answer “We don’t know the answer right now, but we’ll study this in detail and find you the answer.”