What we give away most of the time is our knowledge.  And since many would argue that we are in a knowledge-based economy, you can see how that might be a really big problem, not just for us but for our economy overall.  Let's face it, it's not like there is a cash register attached to our brains and lips.  There's no debit or credit card that needs to be used before we start giving away a lot of stuff for free.  But giving things away for free in our industry can be a really good thing too.  I'm just saying one should think about whether or not you want to give information away for free or you want to attach some value to them.  Many times that "value" is a part of building good relationships and is just good business.  But more often than not, all of the parties don't recognize the value.

 

So let's take a look at that word "free" for just a moment.  Why is it so powerful?  One of the reasons that the word free has the power that it does is because we act irrational much of the time.  Acting irrational actually makes good sense.  While many of you reading this might disagree, and believe being rational all the time is the only way to go, I beg to differ. Not much would get created and no new businesses would be started if everybody only thought and acted rationally.   And none of us would like that would we? So here's why you need to understand and carefully use "free". Its use plays on the fact that irrational behavior can be somewhat predicted. It's that predictability they give you clues as to how and when to use "free". Think about how you use websites like some of those that I'm going to talk about a bit later such as eBay, Freecycle, Amazon and even a new one I learned about as part of researching new company startups the other day, called LuckyChick.com.  

 

As an example of what I'm talking about - irrationality and why it makes the word "free" so powerful, is in the book, Predictably Irrational by psychologist Dan Ariely. He describes a now famous study that demonstrated that, just lowering the price of two products by one penny reversed the results of a rational choice.  He calls this the "hidden forces that change our decisions." Hidden. Gee, it'd be a lot easier if the forces were just out in the open, wouldn't it?  But I digress. In the study, people were asked to choose between a chocolate truffle valued at $1.00 and offered for only 15 cents or choose a chocolate kiss valued at 10 cents, discounted to 1 cent.  Most people chose the obvious best deal, the truffle.  However, when each choice was lowered in price by just one more penny, the results essentially reversed - most people chose the kiss.  Why?  Because even though the truffle was now an even better buy, the kiss won because it was FREE illustrating that free choice is "predictably irrational" and because as humans we prove over and over that, unconsciously we are wired to choose the "no-risk" choice.  In the case of Dr. Ariely's study (and in other similar research), people will choose "free" rather than "paying something" even if it's the best deal.  So back to the question you should be asking which is how do you sell yourself without giving yourself away for free?  It can certainly be done.  And it can be done in the technological side of your business as well as in your interpersonal relationships.  But in both areas, it takes a solid plan and the determination to adhere to the principles that make "free" work for everyone; you, your clients, and your prospects.  

 

There's not enough space in this column each week for me to do more than touch on various topics.  This one, the topic of "free", is certainly one I hope you'll do additional research on and see for yourself the impact it can have on you and your business.  Keep in mind, we all like FREE and the first thing we have to do is admit it and then admit to ourselves it's okay to be irrational sometimes (frankly, we can't stop our unconscious from acting that way anyhow). So here are some places to get free stuff you might not have thought about lately, even though you know the web is full of free stuff.  With the holiday season coming up this might be a good way to go.  One word of caution. The LuckyChick.com site is brand-new and not fully developed eventhough word on the street is they have over 1 million users.  They are a legitimate site, but they chose to launch it and start gaining users before all sections were built out.  

 

And as you enjoy a little something free, including what I've written here today and what I write each week, just do me a favor and don't ascribe to those common adages, "You never get anything for free" or "You get what you pay for"; that would just hurt my feelings!

 

Listia - A new kind of online auction site where you bid on other people's stuff using credits instead of real money. You give away stuff you don't need anymore and get stuff you want in return for free.

 

Freecycle - Since we all throw away perfectly useable things sometimes this site is all about finding those things new homes. You'll find local groups dedicated to keeping them out of landfills. That doesn't mean you'll find trash.

 

eBay Classifieds - You can buy just about anything you can think of on eBay. But did you know it had a classifieds site with a robust free section? You can also post "wanted" ads if you don't see what you want.

 

Freenapkin - Everything on this classified site must be free but you really need to stick to your local listings as most people are trying to get rid of something quickly and they don't want to ship anything. You never know what you'll find here. But I:ve heard of some amazing finds.

 

LuckyChick - This site has a gaming aspect to it including a "peek" option that is really intriguing.  But be forewarned, you must be a User to "peek".  All merchandise is brand new and is guaranteed to be the authentic luxury brand that it promises to be. The site/company is directly responsible for your customer satisfaction.