Charge Nothing

Many of us have a problem that is in many ways paralyzing — and that is that we're good at lots of different tasks and activities. But being good at many different things can be both a blessing and a curse, and unless you crack the code on dealing with the special gift that you've been given, you'll find yourself left out in the cold, at least as far as business and making money goes.

Several years ago, I made a prolific decision that would positively affect the way that I deal with this problem, as well as help me to resolve a lot of other business issues that had plagued me. I give this advice regularly to people, and although it's easy advice to understand, it's not so easy to implement. Although on its face, nothing could be simpler.

The advice goes like this:

For everything and every skill that you are absolutely fantastic at, charge a very high price, and for everything else, charge nothing.

The impact of this very significant philosophy is to specialize in what you're absolutely wonderful at. If you do that, you'll be paid handsomely for those skills, and you'll start to ignore those skills at which you're just mediocre. Consultants, for example, frequently will say the magic four words that I believe are the kiss of death in business. Those four words are "I can do that." People don't hire consultants, advisors, and professionals so that they can do something — they hire them because they are fantastic and they bring insight and value that's hard to find anywhere else.

Sure I can make the computer work, but I'm not good enough at it that I could charge anybody for my time. I can give advice on managing inventory, on how to fire and hire people and many other areas of business, but I'm not so great at any of these that I charge for these skills. On the other hand, when it comes to developing a plan for growth of a small or medium-sized business, when it comes to raising capital, and when it comes to selling products that have never been sold before, that's my sweet spot. That is where I'm truly an expert, so I charge a lot for those services and give all the rest away.

I hope that this advice will put you on the track to making incredible amounts of money, because you deserve it.

About Joel G. Block

Well known in the business community, Joel Block is a best selling author, speaker, and business strategist. Frequently a principal in his transactions, Joel has raised tens of millions of equity dollars for his ventures, which have included real estate syndications and privately held businesses.

Joel’s career is highlighted by the launch of a financial publishing company which he grew nationwide and later sold to the Los Angeles Times. More recently, Joel works with scientists, engineers, technologists and others to help them optimize their entrepreneurial opportunities. Would you like to get a private phone consultation with Joel? Visit www.joelblock.com/capital for details.

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