It was about a kind of “internal bleeding.”
“I could probably make a lot of money as a consultant,” Scott told me, “but I have trouble stopping myself from ‘giving away the farm’ when I talk to prospective clients.
“When they ask me business and marketing questions, I get so excited that I start blabbing away and giving them maybe an hour of free advice. They take the info home with them and I don’t make a penny!
“I know I’ve got to break myself from this habit, but I’m stumped about how to do that. Got any ideas?”
In fact, I understand the situation real well.
Way back when I started my own consulting biz, I thought a great way to get my foot in the door was to offer local business people a free 20-minute consultation.
I’d think, “Boy, when they get a little taste of what I’ve got to offer, they’ll put me on retainer for a couple grand a month and I’ll be on my way to Easy Street!”
So I’d meet with a retailer, get all wired up and spew my wisdom for 20 minutes (usually more), and they’d sit there with a pad and pencil and jot down every precious tip and technique I offered.
Then I’d never hear from them again.
My wife finally asked me WTF I was doing, giving all my best stuff away for nada.
I didn’t have a good answer.
But I figgered out a good solution to the problem.
During my free 20-minute consultations, I stopped “giving away the farm.” Instead, I started telling prospects what they should do, but I didn’t tell them how to do it.
Get the difference?
I stopped giving ’em free instruction. I just helped them identify their business problems, then suggested solutions — minus the “how-to.”
They had to pay me for the step-by-step “how-to” information or service.
It’s really a simple mental adjustment.