WHY SHOULD YOU MONETIZE YOUR SKILLS?

By: Chiemeziem Wisdom Irondi

To "monetize" something  is to convert non-revenue generating assets into sources of revenue. In economic terms, monetize means to convert any event, object or transaction into a form of currency or something with transferable value.

There's certainly a lot of opinions on this topic and among many persons, Nigerians especially who have an unguided entitlement mentality, there is always a desire to have access to the services that people render with only a "Thank you" or a little pat on the shoulder. 

For many persons, they don't see anything wrong with you using your skills to 'help' them since no body knows tomorrow or simply because you're related to them either as a family member, a friend, a colleague, a class mate, or even church members. 

Question: Is it wrong to monetize your skills? 

Before learning a skill, you have to first define your aim. Why you learnt the skill or what you intend to achieve by learning that skill. 

Take for instance, you decide to learn graphics design. Do you want to be a professional graphics designer with the aim of making money from your skills or you want to be a graphics designer to 'help' anyone who needs any graphics work done for them without a reward? 

If you are able to get this sorted out, then you won't need to apologize to anyone if you don't render free services to them. 

WHY SHOULD YOU MONETIZE YOUR SKILLS?

1. You spent money to learn that skill: Every money spent to learn a skill is an investment and what is expected from every investment is Profit. No wise person will invest in a business that will not yield profit. This is how it works with skill acquisition as well. The money spent to learn the skill, the time spent, the data and other things that went into the acquisition of that skill cannot be wasted. If you spent money to learn the skill, you should monetize the skill when you become a professional. Don't feel bad about it. 

2. It shows your Value and Competence: The more you do free jobs for people, the more you loose your value. People appreciate you more when you charge them for a job. It shows you know what you're doing. Anything you do for free reduces your value because people are making money from the same thing you're doing for free. When mind blowing projects are demanded, they will go for professionals who place a price tag on their services.

3. It makes you stand Out: Monetizing your skill means you're not in the same class with those who aren't professionals. Take for example; There are many graphics designer in Nigeria, both online and offline. Majority of them are not professionals but they go all out telling people that they are. They accept free jobs as a way of bidding for more projects or a way of creating a first impression or whatsoever reason they have to do that. This doesn't make them the best. This only blinds the eyes of customers from those who can actually do the job. 

Placing a price tag on your skills makes you stand out and gives you a professional outlook. 

4. Monetizing your skills attracts the right customers to you: Businesses and individuals who needs a professional will not go for one who renders free services. Monetizing your skills attracts the right customers who wants value to you. The price tag on your skills means that you're confident and competent. If Microsoft needs a graphics design for an advert for example, who do you think they will go for? Obviously not a newbie who is trying to win the heart of customers by doing free jobs. They will go for a professional with a price tag. 

Also, monetizing your skills means that your customers are streamlined to those who are ready to pay. Those are not ready to pay will not come to you and this will help you focus on your customers and deliver value to them. 

There are other reasons you should monetize your skills. I will treat them in my next post. 

In conclusion, I think it's not outrightly wrong to do 'some' free jobs for people. It depends on you. I will not be able to tell you who to render free services to or who not to. That's solely your decision to make. 

If you don't feel too comfortable with rendering free services to family members or friends, you can simply do the following;

1. Refer them to another service provider: This will keep them away from you and they will have to deal with the other person instead of you. 

2. Give them a discount: This looks like a win-win situation for me. Because they are close to you and you'd not want to charge them the same amount you charge others who aren't close to you, you can decide to give them a discount. The discount rate should be determined by you alone. 

3. Provide the service at your own time and pace: You provide a service faster, more efficient and in time when you're being paid for it. So, if you're going to be rendering free services to someone, you can decide to do it when you have free time or when you're done with the customers who paid you. 

However, doing free jobs are not all wrong in themselves. You shouldn't do a job any how because you're not paid for it. You surely can't tell who will see that job or service rendered. Be professional in all that you do either paid jobs or free jobs. 

Read Also: The Advantages of doing free jobs

Use the comment section to tell me what you think about this post. 

©Chiemeziem Wisdom Irondi 2021

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