10 reasons why you should (sometimes) work for free
Being generous with your time and knowledge can have its advantages.
“Free advice is worth what you pay for it.” You’ve heard that before. Ditto the doctor or lawyer who is always asked for free advice at a party. You are a professional. Your value is in knowledge and experience. Should you sometimes give it away for free? The answer is yes.
1. You are a good person. You give friends a lift to the airport. You lend out your tools. You can provide some free advice too.
Logic: You might need a ride to the airport yourself some day. From a business point of view, a friend of a friend might ask: “Who do you know…?” They will bring up your name and say you are a really good person. “If I ever needed (your expertise) this is who I would call.”
2. Those law firm ads on TV. You’ve seen the ads. Look beyond your natural discomfort that anything bad that happens to you is someone else’s fault. Ignore the wording that implies going to court with an accident claim is like winning the lottery.
Logic: The object is to get people to come in for a free consultation. Listening to someone’s problem might not ring the cash register that moment, but it might lead to business today or down the road.
3. Serving on a charity board. You’ve been spotted, sounded out and invited. It’s a big deal. There’s a substantial financial commitment. You aren’t paid, of course. You are cautioned about looking for business.
Logic: You are now in the circle of local movers and shakers. Although you can’t blatantly prospect for business, you will discover your fellow board members tend to do business with each other. You have a patron, the person who brought you in. Tactfully ask: “How can I raise my visibility?” They will understand.
4. Being a volunteer at a community organization. You aren’t on the board. You are a worker bee. This takes lots of time. The more you do, the more they ask you to do. Why am I doing this?
Logic: You are doing it because you are a good person. You are meeting many, many people. They “know what you do” because word gets around. They are getting to know you as a peer. People do business with people they like.
5. Unpaid speaking engagements. “Will you come and speak to our homeowner’s association?” You agree. “That’s great. One more thing. You can’t be selling anything.” They want an educational seminar.
Logic: You are getting positioned as a subject matter expert. There are plenty of ways to get “what you do” out there without blatantly selling. You have Compliance-approved topics. They likely have handouts, with your contact information on it. People might have questions.
6. Will you write something for us? The explosion of online publications, podcasts, blogs and videos Has created a demand for content. Most don’t want to pay. They feel it provides you with exposure.
Logic: You get exposure. You can likely link to the content you provided, allowing you to make use of it. Your Compliance people will need to give their approval.
7. My father has a problem. He’s not qualified to become a client, but he needs advice.
Logic: You are doing a favor for a client. This is a sign of respect. There’s plenty of general advice you can provide that has substantial value.
8. Would you talk to our class? Maybe your college has asked you to present. Those students need some motivating. It will probably be about your career path. No one is paying for anything.
Logic: It’s speaking experience. Hopefully your Compliance folks are OK with it, since you would be talking about your life experiences. Who knows where these students will end up down the road? More important, who knows what connections the professor has!
9. Community school classes. These are those no-college-credit classes offered after hours at your local school. They used to be called adult education classes. Maybe you’ve been asked to do one on the fundamentals of investing, budgeting or financial planning. Maybe you aren’t getting paid.
Logic: Again, you need Compliance approval, especially if you are getting paid! The audience of adults will pick up on what you do for a living. They will be impressed by your knowledge and get to like you as a person.
10. People who know people. Should you help someone just because they asked? Probably yes. What if that person is a local influencer, someone often asked for advice? You would say “Where do I sign?”
Logic: Many people can turn out to be influencers in their social circles. If you help them, they might feel they can help you in return by positioning you with their friends. This is done without asking.
Your knowledge and experience has value. You don’t want to give away everything, yet being generous with your time and knowledge can have its advantages.
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