Hiring For Expertise

As many of you may have seen, I sold my dear Crosby Street (to a loving new mom who happens to be in my barn!) and started leasing a new girl, Elluminate aka Lulu. 

Now, leasing is a bit controversial in the horse world. Similar to leasing a car or renting a house, the concern for ‘equity’ always pops up. And I totally get it. We want to spend money on things that ultimately have value based on the money we’re spending. 

But at certain points, the value of leasing a horse far outweighs the value of owning. And of course, I tie this back to business. 

Here’s my reasoning:

EXPERTISE - I am looking for a horse with a particular set of skills that can help me with my longer term investments. Donny is my forever horse and it is my goal to get my riding to a place where we can be the best partners to each other. Crosby just didn’t have that. Lulu does - I need her to develop a very particular set of skills in the near term. 

BUDGET - Eventually, I want to have enough in the bank to have all the horses. I’m not there yet. My budget to buy could have afforded me another green horse. But since I am working on developing more advanced skills, I’m priced out of purchasing. Making a lease a great option. 

FLEXIBILITY - My life is bonkers right now and changing at such a rapid pace that who knows where I will be in a year? Also, if I gain the skills I am looking for, chances are I might need a different partner to keep growing. So right now, it’s best for me to keep my options open. 

So how does this tie to business?

Well you can think about this in a similar way for hiring in your business.

When you have a role to fill or feel like you need more hands to round out your team you can think along the same lines.

Expertise: Often as you grow, you need someone with a particular skill to help move the needle. These are things like copywriting, marketing, paid advertising, etc. Getting an expert means you can get where you want to be faster. 

Budget: Bringing on someone full time is expensive. The cost of hiring is also expensive. Bringing in a contractor with a specific skillset for a particular amount of time can ease budget budents for your business. 

Flexibility: Hiring a contractor means you can add or subtract them whenever you need to in the business. You have the flexibility to change out resources as the need for experts and budgets allow. 

So, there you have it! Leasing Lulu isn't just about having a new horse to ride—it's a strategic move that's helping me develop specific skills without the long-term commitment or financial strain. Just like in business, sometimes the best choice is to bring in the right expertise for a particular period, manage costs wisely, and maintain the flexibility to pivot as needed.

Whether you're in the saddle or the boardroom, it's all about making smart decisions that align with your current goals and resources. Remember, it's not always about owning; it's about leveraging what you have to get where you want to be. So, don't be afraid to lease your own 'Lulu' in life or business and watch how much further you can go! Happy riding, and here's to making savvy choices that lead to success, both on and off the horse! 🐴✨