The Baby Boomer Entrepreneur
  • Home
  • About
  • Blog
  • Contact
  • Coaching
  • Training

Why Buy the Cow if the Milk Is Free

Posted on April 8, 2011
by Andrea J. Stenberg
Spread the love

Why buy the cow if the milk is freeNo, this post isn’t a maternal rant on premarital sex. I just read a great article on Forbes.com called No, You Can’t Pick My Brain. It Costs Too Much.

The gist of the article is you need to avoid getting sucked into giving away your expertise without getting paid. You worked hard for that knowledge and it’s worth good money.

If you’re a consultant or some other knowledge-based entrepreneur, this article is a must-read. In fact, I think I’m going to print a copy and post it next to my desk.

I’ve fallen into that trap before. In the name of “being helpful” I give away too much free advice so that person doesn’t need to pay me. They got it all for free.

Now I’m not saying I don’t give anything away for free. Hello?!? Have you read this blog? All free.

However, I need to make sure when I’m meeting with someone, I give just enough information to prove I know what I’m talking about but be clear that after that I’m on the clock. In the article, Adrienne Graham suggests having a fee schedule. That way if you’re squeamish about talking prices, you can always hand someone your fee schedule.

Fee Schedule + Law of Attraction = Results

Having a fee schedule has another benefit. I apologize if I found airy fairy here, but having a written fee schedule activates the Law of Attraction. When you write down what you expect to be paid for certain services, it tells the universe you’re serious about your business and voila, suddenly people who can and will pay for your services will appear.

Getting serious about getting paid doesn’t mean you can’t give it away for free … just make sure you are getting something of equal value in return. For example, I have a graphic designer colleague who I trade services with. When she needs help with some copywriting, she’ll send it over for me to look at. Likewise, when I have some graphics that need tweaking, she’ll fix it for me. However, when we have larger jobs, we charge. In the end, we get equal value out of the relationship.

So, look at your business relationships. Are you giving away too much by letting friends “pick your brain”? If so, maybe it’s time to do something about it. After all, you wouldn’t expect your friend the car dealer to just give you a car to drive just because you’re a nice person.

Andrea J. Stenberg

What do you think? Do you give away too much knowledge for free? Or have you found a way to stop giving away too much? Leave a comment and share your thoughts.

And don’t forget to pick up your free copy of Internet Marketing 101: Discover Three Simple Things You Can Do Now to Grow Your Business Online. It will help you jump start your online marketing. Get the free ebook at http://29daystogrowingabusiness.com

Law of Attraction, Motivation
← Newer Post
Older Post →

Comments

  1. Stuart Nager says:
    April 8, 2011 at 8:35 pm

    I found that I was posting too much of my performance videos. always leave them wanting more.

  2. Reba Charleston says:
    April 8, 2011 at 10:56 pm

    Great advice, especially when to newbies that may not feel completely confident charging because they don’t have a lot of experience. Know your value, and others will value you too.

  3. Amy L Harden says:
    April 8, 2011 at 10:58 pm

    This was an excellent article. I am in the process of revamping all of this…thanks for the direction.

  4. Krissy Brady, Writer says:
    April 10, 2011 at 3:24 am

    Excellent post! I have fallen into the trap of offering too much free information several times, and this is something that I have completely shut myself off from doing. When I actually sat down and looked over the time I have spent on free tips and advice, it’s quite sickening. I like the idea of offering a fee schedule, and will definitely be creating one–thanks! Boundaries are key, and need to be constantly worked on. 🙂

  5. Tracey Rissik says:
    April 10, 2011 at 3:12 pm

    Hi Andrea,

    great topic – and one I’m sure many of us can identify with, as I most definitely did!

    An offshoot of giving too much away for free (for me anyway) is being pressured to cut my prices. A woman recently asked me what I charge, and then asked if I could reduce the cost… having just met me!! She obviously didn’t know me (or the huge value I already give), and she seemed a bit put out that I said no, it’s my policy to not do things “cheap” as it devalues my work.

    I remember falling for this approach once or twice when I was just starting out – so just remember that if you offer good value, you do not need to drop prices to bring in business – as Andrea says, believing you’re worth something sets the Law of Attraction in motion 🙂

    thanks for the article!
    Tracey

  6. Adrienne Graham says:
    April 17, 2011 at 6:07 pm

    Andrea thank you so much for reading my article and commenting. I’m so glad you (and the others) have enjoyed it. I didn’t even think about what I said about fee schedules fitting in with Law of Attraction. Thanks for giving me another vantage point to this argument. I never stop learning!

    And to all of you who commented, thank you so much. I’m glad you found value (and in some cases strength) in my words. I’ll be talking about this subject on my radio show this Friday. Hope you tune in.

    Adrienne Graham

  7. Joe Proo says:
    May 30, 2011 at 2:17 am

    Responding to Tracey’s post-When someone has a price objection really that is an unanswered question in their mind regarding your value to them if a service and quality question if a product. One of my reflex answers – “If someone has to reduce their price in order to make the phone ring then they are obviously providing a low value service or product” Customers don’t really have any new objections when you deal with them. So what i do is memorize my answers to each objection so that i am calmly ready for them when they occur.

  8. Removal Companies says:
    June 7, 2012 at 7:25 am

    Thanks it definitely helpful and it reminds me the Newton 3rd law.

  9. GalaxyNote Hack says:
    June 23, 2012 at 7:01 pm

    Just wanna remark on few common points, The website style is perfect, the topic matter is rattling great

  10. Aura nightclub says:
    April 19, 2013 at 8:26 pm

    The reason I adhere to this website is due to the fact I’m sure you do commonly offer a fairly unique leaning on issues to numerous alternative sites so high 5 bro! ! !

Low Cost Online Video Toolkit
Schedule your consultation now

Search This Site

Recent Blog Posts

  • Inspirational Quotes For Women Entrepreneurs
  • What Are Hashtags and Why Are They Important On Instagram?
  • Coaches & Healers – Do You Know Your Legal Liabilities
  • Catching Your Audience’s Attention And What to Do Once You’ve Got It
  • 7 Reasons to Start Video Marketing Today
4 Ways to Quickly Get Clients with Social Media

Andrea Recommends:

Finish Strong - 100 Day Challenge

The Ultimate Guide to Personalized Video 2019

WordPress Membership Plugin

LongTailPro

ConvertKit

PopupAlly

Follow me on Social Media

The Baby Boomer Entrepreneur | Copyright © 2021 All Rights Reserved
iThemes Builder by iThemes | Powered by WordPress
Yes, I want the FREE Report!
4 Ways to Quickly Get Clients From Social Media
4 Ways to Quickly Get New Clients from Social Media
"I bet you're missing at least 2 of them"
FREE Report:
Stop Being Scared of Online Video Marketing
Download Your Free Copy of The Low Cost Online Video Toolkit