BONUS: Why You Should Still Be Charging for Your Products

The Double Win

Michael Hyatt

Education, Productivity, Influence, Teamleadership, Self-improvement, Selfdevelopment, Achievement, Business, Intentionality, Management, Personaldevelopment, Selfleadership, Leadership

4.8 • 1.5K Ratings

🗓️ 26 March 2020

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

You’ve probably noticed the trend in the last week of businesses offering products or services for free to help out during the COVID-19 crisis. I applaud the impulse, but there’s a fatal flaw in the logic—the economy depends on people creating value and other people recognizing that value and willingly paying for it. Now is the time to pivot, innovate, and leverage every ounce of your creativity to survive and thrive as a company. That’s good for your business, your customers, your employees, your community, and the economy at large. Today, we’re going to give you three solid reasons why you need to be charging for your products and services, especially now. In this episode, you’ll discover— The positives and negatives of giving away your products for free during times of crisis How you can help alleviate the negative impact of the COVID-19 pandemic on the economy Examples of times when generosity got in the way of transformation What giving things away won’t do for you How to provide lasting hope, recovery, and opportunity by pivoting and providing value for your customers See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This episode of Lead to Win is brought to you by The Vision Driven Leader,
0:04.4	Michael's new book on Why Vision Matters,
0:06.8	especially in Times of Crisis,
0:08.8	and how you can create one that's compelling, clear, practical, and inspiring.
0:14.2	Pre-order your copy today at vision-driven leader.
0:17.0	com.
0:18.0	Hi, I'm Michael Hyatt.
0:21.6	And I'm Megan Hyatt Miller.
0:23.0	And this is lead to win our weekly podcast to help you win at work and succeed at life.
0:28.0	Today we're going to clear up some confusion about a question that many business leaders are having right now, should I be
0:34.7	charging or should I continue to charge for my products or services during a time of
0:40.4	crisis? Yeah, this is something that increasingly is popping up on social media and just kind of
0:50.0	in the conversations that are happening in the world right now and that is so many
0:54.4	companies are offering free products and services. In a way it seems great because
0:59.4	one of the things that our country has suffered from for a long time is a lack of unity, right?
1:05.1	I mean, we have been so divided, not thinking about one another's needs, not caring for
1:10.8	one another, all that kind of stuff.
1:12.4	So the idea that we have a sense of a common enemy
1:15.9	that we're all in this together that we're trying to help each other through it is really a great
1:20.4	thing and I think a lot of business leaders and business owners feel like one of the ways
1:26.0	that they can contribute to the solution is to help alleviate the burden that people feel with
1:32.0	economic impacts of what's happening so they're
	...

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