No, 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.
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I found that I was posting too much of my performance videos. always leave them wanting more.
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.
This was an excellent article. I am in the process of revamping all of this…thanks for the direction.
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. 🙂
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
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
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.
Thanks it definitely helpful and it reminds me the Newton 3rd law.
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