Thursday, April 21
Avoid the 'Giving Trap'
From Aussie consultant Robert Gerrish, on a common mistake made by consultants, coaches, and other entrepreneurs/business owners - the 'Giving Trap':
Good, strategic giving is when you add value without being asked. The giving trap is when you discount your services or weaken the perception of your value by going too far.
Scenario 1:
You give a free one-hour consultation as part of your business development strategy. You’re so keen to hook a client that you let one-hour turn into 90 minutes. You say nothing.
Scenario 2:
You give a free one-hour consultation as part of your business development strategy. At around 50 minutes you realise it’s likely to run over the hour. Assuming you’ve determined it’s beneficial to continue, you pause, make clear you are about to complete the hour and offer your client an extension of 30 minutes. You take the opportunity to fully explain your motivation for this action.
Spot the difference? In the first scenario you’re signaling a lack of respect for time AND creating a potentially damaging precedent in the eyes of a potential client.
In the second, you’re highlighting the value of your time AND adding value by giving more.
Good, strategic giving is when you add value without being asked. The giving trap is when you discount your services or weaken the perception of your value by going too far.
Scenario 1:
You give a free one-hour consultation as part of your business development strategy. You’re so keen to hook a client that you let one-hour turn into 90 minutes. You say nothing.
Scenario 2:
You give a free one-hour consultation as part of your business development strategy. At around 50 minutes you realise it’s likely to run over the hour. Assuming you’ve determined it’s beneficial to continue, you pause, make clear you are about to complete the hour and offer your client an extension of 30 minutes. You take the opportunity to fully explain your motivation for this action.
Spot the difference? In the first scenario you’re signaling a lack of respect for time AND creating a potentially damaging precedent in the eyes of a potential client.
In the second, you’re highlighting the value of your time AND adding value by giving more.
