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The Secret to Becoming Filthy Rich Overnight

by Ryan Rancatore on March 12, 2010

Last week, Chris Brogan sent the world into a brief tizzy by revealing his services are worth up to $22,000 per day.  If you are reading this, there is a pretty damn good chance that $22k represents a large chunk of your annual salary.

So, why aren’t you getting offers left and right for a paycheck worthy of armed guards and a Brinks truck?  Let’s go exploring for reasons.

Whether you love him, hate him, or are easily intrigued by unique facial hair, you probably know of Chris Brogan.  He is everywhere.  My Google Reader feed tells me that chrisbrogan.com averages 8.9 posts per week, all free for anyone to read.  In 2008, Chris produced this personal branding e-book, and charged a whopping $0 for it.  The guy sends out this newsletter full of information and charges….you guessed it, nothing.

The result of all this incredible content being pumped out for free?  A lot of folks salivating to take it all in.  48,000 blog subscribers and 126,000 Twitter followers soaking it up 140 characters at a time.  Essentially, Chris has been building brand equity over time, keystroke by keystroke.  Throughout the years, his authority and credibility have grown with every unique idea or person or company helped.

Today, it is easy to recognize Chris’ authority on new media marketing, and realize just how valuable it would be for a company to secure his uninterrupted focus.  Yes, even $22,000-for-a-single-day valuable.  So then…

The secret to becoming filthy rich starting “tomorrow”?

Give great stuff away for free today.  Offer even better stuff tomorrow, for a price.

Chris Brogan isn’t the only one to have perfected this art.  Gary Vaynerchuk’s Wine Library TV is on episode #827, and all 827 are available for less than a penny.  Guy Kawasaki has been giving away advice across platforms for years.  Problogger Darren Rowse essentially teaches a free course on professional blogging that is in session every single day.

But, if you want 1-on-1 time with one of these three for consulting or speaking – you might want to plan an extra trip to the ATM, it’s going to cost a pretty penny.

Now, on to you.  How do you compare?  What are you giving away for free today that will build a powerful (and lucrative) brand for tomorrow?  Are you…

  • Blogging regularly?
  • Making certain your tweets/articles/updates add value to your community?
  • Engaging in conversation?
  • Sharing the work of others as much as you promote your own?
  • Building relationships, not empty follower counts?

What about at work?  The same principles apply at the office too, in an even more concentrated way.  Are you…

Essentially, Chris Brogan’s $22,000 revelation is the world’s most effective case study on the positive effects of a strong personal brand (no, not a contrived brand built just for appearance’s sake, but an authentic brand built organically over time).

Compile every public tweet, blog post, guest article and keynote speech – and imagine that instead, Chris kept all that “valuable” information to himself.  He’d still be the same brilliant dude today.  But, who would know it?  Without established credibility, what company would want to shell out even $22 for his day of work, let alone $22,000?

No, you won’t really become filthy rich overnight because you gave away great insights and added value today.  Building a brand isn’t a sprint, and it isn’t even a marathon – to do it right, you are going to be running a long, long time.  And don’t expect the path to be paved with riches.  But the destination? It just might be.

What about you?  Are you “adding value for free”, or are you “keeping it for me”?  Either way – why?

Photo credit, Rodrigo Amorim and Koka Sexton.

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  • http://jakelacaze.com/ Jake LaCaze

    Damn good post, Ryan. I didn't realize that Brogan's time was worth THAT much. Great reminder that we should be looking at the long-term potential rather than short-term gains. Also, a reminder that social media and branding are investments, not get-rich-quick schemes. Thank you for reminding me of things I might not be doing so well.

  • http://personalbranding101.com/ Ryan Rancatore

    Thanks Jake. I see you working, and I can tell you're getting there. I'm
    happy you enjoyed the article.

  • http://marianlibrarian.com Marian Schembari

    I love this post, and I 100% agree with Chris about providing stuff for free. I'm an avid and open hater of the internship, especially for recent grads, but I think that giving lectures at local universities, guest blogging, consulting for friends and friends, etc etc can all be hugely helpful in terms of starting up a business and creating an awesome personal brand. Doing so gets you in front of more people than you might have otherwise, if gives you credibility, experience and references. Anyhoozey, excellent post Ryan, as per usual ;-)

  • http://personalbranding101.com/ Ryan Rancatore

    Marian,

    You are a tough critic and a sharp cookie, so I don't take kudos from you
    lightly. Interesting point about the internships (assuming unpaid). I will
    have to noodle on that a bit myself.

  • http://www.google.com/profiles/caldwdo Doug Caldwell

    If you want it, give it away. anonymous

    YouTube – Free: The Future of a Radical Price Oct 2009 http://bit.ly/a9MYOU

  • http://marianlibrarian.com Marian Schembari

    Okay, so I'm reading over my reply and it's completely and utterly unreadable. What I MEANT to say was that in terms of unpaid internships, I'm totally against working for free. But doing free services – like teaching at a college or consulting for someone in exchange for making a connection – can be hugely helpful.

    Sheesh. It's Friday and totally not my fault I'm inarticulate. Still, you always get my kudos!

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  • Sergio Santoyo

    I understand about giving first in other to receive, it is not the other way around. What I understand is: by giving info or tips of value, you create presence and followers. But how can this create impact in a level of building expectation for a future restaurant opening?

  • http://personalbranding101.com/ Ryan Rancatore

    Sergio – I'm no restaurant owner, so take this advice with a grain of salt (pun intended). You can apply this same principle in a completely different manner. Maybe a restaurant could give away free appetizers opening week. Or maybe the head chef could offer cooking lessons for free to future patrons in the week before the restaurant opens (sure, some would take the knowledge and cook at home, but most would simply come back to the restaurant more than ever). Or – you could host a weekly “TV show” on YouTube with cooking tips and feature new dishes available in the restaurant – even include/engage frequent customers. Maybe these ideas are good, maybe they are awful…but, you see where I am going with them?

    Best of luck!

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