The Only Way Some People take action is when they have Skin in the Game

24/03/2023 10 min Episodio 196
The Only Way Some People take action is when they have Skin in the Game

Listen "The Only Way Some People take action is when they have Skin in the Game"

Episode Synopsis

In this episode, Shane explores the concept of "value for value" and how it affects our decision-making processes. Discover the importance of creating urgency around products and services, and why paid advice is more valuable than seeking confirmation bias. Hear personal anecdotes on how paying for services leads to accountability and action. Join us for insights on human nature, motivation, and consumer behavior.   [00:01 - 04:54] Why Charging for Your Services Can Lead to Better Results People tend to take free things for granted and may not place much value on them Giving away something for free can lead to less urgency and action on the part of the recipient Shane struggled with finding the balance between giving content away for free and charging for it Giving a course away for free did not motivate the recipient to take action Paying for a service can create a sense of accountability and impact how people prioritize their time    [04:55 - 10:56] Why Paying for Services Can Lead to Better Results and Accountability Personal experience taught the author the value of accountability and taking action when he borrowed workout CDs Shane pays his business partner for pre-construction work to ensure accountability and engagement People are more likely to value and take action when they pay for something Shane found that people who received free consultations only wanted confirmation, whereas paid clients sought honest advice Providing honest advice to paid clients can be more impactful and potentially save them millions      You can connect with me on LinkedIn, follow me on Twitter, and watch my videos on YouTube. If you want to go even deeper into the world of commercial real estate, head over to Shane Melanson, a roadmap to investing in commercial real estate! Get my book Club Syndication - How The Wealthy Invest Their Money     LEAVE A REVIEW + help someone invest in commercial real estate with confidence by sharing this episode or clicking here to listen to our previous episodes.         Follow The Investing Podcast on all Streaming platforms. Deezer, Apple Podcasts, Google Podcasts, Spotify, or visit our YouTube Channel.         Tweetable Quote:   “The difference between paying for it and giving it away for free is just how people respond.” - Shane Melanson