Imagine this: you are at work and you receive a call from your company’s CEO telling you that they no longer have the budget to pay you and he or she goes on to tell you that they need you to work for free. If you’re anything like me, you would be thinking to yourself, “have they lost their mind!” “Why would anyone expect me to do something I’m extremely good at for free!” Now what would you say if I told you that every time you give your intellectual property away to someone, you’re showing up to work for free?
First, let me define intellectual property: Intellectual property is the unique factor that sets you apart. It is your expertise, your brilliance where your talents, passions, personality, and experiences collide. It’s that genius that flows from you effortlessly and the thing that everyone seeks you out for. Not only that, sharing this knowledge you’ve acquired is like second nature to you. So, when people ask you if they can pick your brain or tease something out with you, they are tapping into your intellectual property.
The good news is, we were all put on this earth with a special mix of DNA, what I identify as, your Distinct Natural Ability, that pre-wires you with certain gifts and talents. It’s almost like you were placed here on special assignment to be the answer to a group of people that need that gift in you. The bad news is however, not everyone steps forward to stand in the full power of what lies inside of you. I heard Steve Harvey share a quote at this Act Like a Success Conference that said, “95% of people die having only used 5% of their gifts and talents”
In my 20+ years of coaching entrepreneurs and corporate executives, I have watched the shock and “a-ha” moments happen repeatedly when people discover they’ve been only functioning in 5% of their gifts and that theyhave been giving away their intellectual property for free. They discount their know-how because it comes so naturally to them that they assume everyone knows how to do it. They fail to see that their intellectual property could very well be the answer to someone’s problem and that they could be packaging it in order to generate multiple streams of income. Sure, other people may have a similar gift but NO ONE can do it like YOU. There are also those who are well aware of their expertise, but rather than step forward into the spotlight, they shrink back into the shadows because they think no one will pay them for what they know. According to Entrepreneur.com there are about 120 million people employed full-time in the U.S., and about 84 million of them don’t really like their jobs. These are people who, rather than taking the chance and stepping fully into their genius, they settle for good enough, which looks like building someone else’s billion-dollar brand, and I wonder how many of them realize they are harboring a billion-dollar brand inside of them!
In my work on a daily basis, I work with corporate executives who seek to write their own paychecks, at the intersection where all of their talents, experiences, and passions converge so that they can bring forth their ideas with clarity, confidence, and to start to write their own pay check. What I have learned in this work is that there are three key things you must do to give yourself permission to get paid for what you know:
- Stop second guessing your brilliance & stand firm in it: If you are not clear on what your brilliance, your intellectual property is, ask 5 people who are normally asking to pick your brain or get your perspective on a matter. I guarantee you, there will be something common that they each share with you, which is the brilliance they see in you. So if they see it, it’s time for you to stop denying your DNA and get paid for it instead of giving it away for free!
- Don’t be afraid to step outside your comfort zone:One of the reasons so many people have gone to the graveyard with their hopes and dreams never realized is because they were afraid to step outside of their comfort zone. They possessed something inside of them that could have very well been what other people needed, but because their gifts would have required them to step outside of their comfort zone, they settled for good enough. Don’t ever hesitate to risk it all in order to gain it all. Step out there and just watch how others rise up to meet you at the next level!
- Hire a business coach: Before I started my own entrepreneurial journey, I was intellectually rich and financially poor. I was clear on what gifts were and that I wanted to get paid for what I know but I had no idea how to organize it all into making a profit. I was great at creating all of these successful programs for small businesses and corporations but to be honest, I was discounting my own greatness to do this same thing for myself. I was stuck! So, I hired a business coach and within months, I went from making $13,000 a year to $200,000 a year. My point is, don’t be too proud to enlist help. One thing that successful people do is keep people around them who know how to do what they don’t.
You’ve probably heard the saying, “find that thing you love to do that you’d do it for free.” Well, I’d like to change that just a little bit: find that thing you love to do and go do it! Making a difference for those who need it and making money while you do it.”
If you are ready to learn how to get paid for what you know, our summer cohort is open for our Fierce Factor group coaching program, learn more and apply for one of our remaining open slots by going to www.YourFierceFactor.com