Understanding the Importance of Valuing Your Content
Written on
Chapter 1: The Lesson from a Sporting Icon
A few weeks ago, I was thrilled to connect with Kareem Abdul-Jabbar on LinkedIn. For those who may not know him, he is a basketball legend, having clinched an unprecedented six NBA MVP awards. Beyond sports, he's made appearances in films like Airplane and has established himself as a bestselling author and cultural commentator. To me, he embodies the ultimate triple threat: an athlete, an entertainer, and a writer.
While he may accept every connection request, I prefer to think that he noticed my content and thought, "This is someone worth connecting with."
As a new connection, I felt it was courteous to explore his writing more deeply, so I subscribed to his Substack. The posts have been both insightful and entertaining, but one recent entry particularly resonated with me and imparted a crucial lesson: Time is money.
I've received numerous emails asking why there’s a paid subscription option. Many seem to believe that because I was a successful basketball player decades ago, I should be offering this newsletter for free. Some might imagine me as Scrooge McDuck, swimming in a pool of cash, but if only I hadn’t poured all my finances into Blockbuster and 8-track tapes!
In his June 1 Substack post, Kareem addressed a question he frequently encounters: Why does he charge for his work? With his illustrious career, it's assumed he wouldn’t need to ask for payment. Why not just share his insights freely?
His response was compelling. He explained that he has been crafting books, articles, graphic novels, and scripts for television and film for years. This has been his primary profession since retiring from basketball. He has received seven journalism awards and an NAACP Image Award. By starting his Substack newsletter, he chose to stop writing for magazines and newspapers that paid him, opting instead to communicate directly with his audience.
Kareem articulates his reasons for charging with clarity, emphasizing his identity as a writer. While there's a hint of self-promotion, I can't fault him for that; he reinforces the notion that writers deserve compensation for their work.
This is a lesson that many of us overlook. Too often, we undervalue our skills and willingly provide content to anyone who asks—often for free.
No Value Equals No Value
My attempt at a sage quote here reflects a crucial truth: people often don't appreciate something that comes at no cost. Earlier this year, Kelly Eden and I launched a paid Writing Club, which was successful initially with full enrollments. However, we later decided to offer a weekly Zoom writing session for free. Despite our efforts, the turnout was minimal.
The general perception was that if we weren’t charging, there was little value in what we offered. Unsurprisingly, we discontinued the free sessions and reverted to the paid Writing Club.
The Freelancer’s Dilemma
Raise your hand if you've searched for freelance opportunities on platforms like Upwork or Fiverr. I can’t see you, but I assume many hands are up. These sites are often where we begin our journey to transition writing from a side gig to a full-time career.
Many freelancers feel pressured to set low rates to attract clients and establish themselves in a competitive field. Having been on both sides of the Upwork experience, I can share a secret: when I was seeking designers or writers, I often disregarded those with extremely low rates, assuming their quality would be subpar. This perception, while perhaps flawed, was my reality.
Properly pricing your services isn’t just relevant for content creators; it applies broadly. For instance, consider Peloton Bikes. Their CEO, John Foley, noted an interesting phenomenon: when they initially priced the Peloton bike at $1,200, potential customers speculated about its quality. However, when they raised the price to $2,000, sales increased, as people believed a higher price indicated better quality.
Valuing your work is essential.
An Alternative Approach
If you struggle with impostor syndrome and feel uneasy about charging for your work, know that you’re not alone. I’ve been there, too.
One alternative is the “pay what you want” model. Many creators use platforms like Gumroad to sell various products. Earlier this year, I launched a LinkedIn guide on Gumroad and received advice from a successful creator, Niharikaa Kaur Sodhi. She suggested allowing customers to choose their price, with the default set to $0, enabling them to access the product for free or pay what they feel is fair.
Initially, I was skeptical—surely charging even a small fee would yield better results—but I decided to trust her approach. In the first month, 40% of customers opted to pay for the guide, with a few exceeding $10 for something they could have obtained at no cost!
This model allowed me to build a list of customers for future paid offerings, creating a mini sales pipeline. It’s a gentle way to explore monetizing your content if you’re hesitant to set prices.
From Beginner to Kareem
If you’re just starting out, offering some free content is essential to building your audience. However, relying solely on this strategy isn’t sustainable for long-term success.
I’ve found that a balanced approach of free, paid, and “pay-what-you-want” content works best. Ultimately, people are willing to pay for value, regardless of whether you’re a newcomer to content creation or an NBA legend with numerous accolades.
You can check out my content on Gumroad or connect with me on LinkedIn—after all, that could bring you one degree closer to Kareem!
In sports and in life, it's not just about winning. This video discusses the broader lessons from sports that apply to all areas of life.
Explore the intersection of perspective, core values, and purpose with the 3 pillars of clarity. This video dives deep into the essentials of personal growth.