Scott Ginsberg, a.k.a. “That Guy with the Nametag,” has some interesting things to say about offering free advice.
I used to allow people to “pick my brain.” For free. For hours at a time. For years. And what I began to notice was, after every session, people walked away excited, inspired and grateful for the time spent together. But then I never saw or heard from then again.
Why? Because they didn’t pay me. And when people don’t pay me, they don’t hear me. Lesson learned: There is a direct correlation between financial investment and probability of execution. Charge enough so people believe the value IN, listen TO and take action UPON what you tell them. What’s your two-hour consulting fee?
I’ll add that there is a time to dispense free advice. It’s called the courting period. And as all rain makers know the courting period can go on for years. Cost of doing business, yada yada yada…
The key is to strike a balance. People with good ideas and the ability to help implement them on the behalf of others deserve to be well compensated for their time.