Free Favours

On occassion I’ve bought lunch for an entrepreneur or investor for in return for the opportunity to pick their brain. It is a fascinating and rewarding passtime. So when I read Philis Rockower’s latest Real Estate Investors Club of Los Angeles newsletter, I got a short sharp shock.

Many newbies always expect they can take a veteran investor out to lunch to learn the business. Most
veteran investors won’t do this, unless they are fairly certain you will bring them deals.

Philis went on to explain

I know this from personal experience, having taught dozens of newbies the business for FREE, thinking they would come bring me deals. At one point, I woke up to reality – people who don’t pay for their education RARELY USE IT!

Aha! Of course. Am I one those I use it people? I’ve noticed how successful networkers make things happen. More likely I establish my credibility first. If I haven’t got credibility, I had better have the only available lunch reservation this century at the city’s finest restaurant otherwise I’m not buying.

To do me a free favour they have to know that not only will I use it, but make them feel good about my using it.

Sadly too many people don’t value what they haven’t paid for. I went to a free talk last night on health and nutrition. The speaker told me that 75% of people who say they’ll show up don’t. That is the rough truth out there. Are you helping or hindering they cause?

What do you think? Any expamples? Click the comment link (email addresses are optional).

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