The Top 5 Things to Consider Before Accepting a Free Consulting Engagement
Free consulting engagements can be a great opportunity to get in front of a new audience and expand your network, but not all engagements are created equal. Some may not be worth the investment of your time, effort, and expertise, but when you are just starting out in your business, it can feel counterintuitive to turn down any networking opportunity.
When it comes to this question, I always like to recommend an episode from the wonderful podcast Jesus and Jollof, which is hosted by Luvvie Ajayi and Yvonne Orji. In the episode ‘The Fine Print of Success’, they discuss a few questions you can ask yourself when contemplating whether or not to take the free engagement and I want to share those with you here.
Note, I believe that these questions are helpful when you’re considering whether or not to accept an opportunity regardless of the stage of your business, so even if you're starting out and it's a free engagement, and you're wondering whether or not you should accept it, or whether you are further along in your business and have to think really critically around your time and what you say yes to, I still believe these five questions will be meaningful.
Does It Pay My Fee?: If it’s a free engagement, it likely will not pay your regular fee, you’ll have to determine the answers to the following questions to decide whether or not the engagement itself is worth it for you and your business.
Will it Give Me Joy?: Will this opportunity give me joy, excite me and make me hop out of bed with a smile?
Is This Something New or Different Than What I Have Previously Done?: Is this going to provide you a new opportunity, a new way to exercise or build a skill, or get you your first bat at something?
Does This Elevate My Profile?: Will this take you to another level in terms of credentials, status or expertise? Does this position you in a different way because you will take on this opportunity?
Does This Put Me In Front of a Larger Audience?: Will this opportunity put you in front of a larger audience than any number of your paid opportunities will?
If you’ve answered yes to at least three of these questions you should definitely consider moving forward with the engagement. Luvvie and Yvonne use this technique not only to help them make a decision, but to also give them the chance to map out the benefits of the unpaid engagement.
So, those are the questions, and I’ll give you an example of how I’ve used the process in my life. About three years ago, I did a TEDx Talk, and that's not paid. But, when I asked myself the five questions.
Does It Pay My Fee?
No
Will it Give Me Joy?
Yes, I would enjoy doing a TEDx Talk
Is This Something New or Different Than What I Have Previously Done?
Yeah, being able to do a TEDx Talk was completely new and different.
Does This Elevate My Profile?
Yes, given the strong reputation of the TED Talk organization it would definitely elevate my profile by being able to say that I've done a TEDx Talk.
Does This Put Me In Front of a Larger Audience?
Well, there would be over 1,000 people in attendance, it would be recorded, it would be posted and shared. I would have the opportunity to be on the TED website, so it would put me in front of a larger audience.
So after answering those questions, I have four out of five yeses, and decided to say yes to that opportunity.
The key point underneath these five questions is that you want to be clear on your return on investment, or ROI. If you’re investing your time, expertise or knowledge, you need to know what you’re going to get out of it. Sometimes the return isn’t always money or immediately financial. Some ROI’s can be exposure or visibility, meaning the opportunity gives you a chance to get in front of a larger audience than you’re normally in front of. Another ROI can be experience in a new service, communication style, or developing your expertise.
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