Knowing When to Call 'The Suit'

Most entrepreneurs and other small business owners don't have business degrees, but they have a lot of grit and passion for what they do. And those that do have backgrounds in finance or management often get so caught up in daily operations that it's easy to lose sight of the big picture.

Alan Newman, a self-described "classic entrepreneur" and the subject of the profile I wrote yesterday, is a good example of someone who struggled with this issue.

Many small business owners also grapple with whether or not to ask a management expert to join or examine their company to help it grow beyond the initial creative concept.

In this video, Asher Epstein, the managing director of the Dingman Center for Entrepreneurship at the University of Maryland, talks about when it benefits a small firm to bring in "the suit." He has worked for large corporations and startups as well.

By Sharon McLoone |  January 4, 2008; 8:15 AM ET Tools and Tips
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