If you are a service provider or your product is intangible (consultant, attorney, accountant, designer, etc.), you will have every “Joe” asking for free advice.
Free advice is rarely the best advice. If your prospects ask you for free advice, first evaluate them using the MAD-FU formula before wasting your time and money.
Here are five simple questions to ask yourself:
M – Money. Does this person have the money to purchase my services? Can he or she afford to purchase my services?
A – Authority. Does this person have the authority to hire me? Is he or she the decision maker?
D – Desire. Does the person wanting free advice have a strong enough desire to pay for the advice?
F – Fit. Is this person a fit for my business? If most of your clients are seasoned companies in the tech industry that understand what hiring a professional costs, trying to bring in a serial entrepreneur who is on a shoe-string budget is probably not the best idea.
U – Urgency. Does this person have an urgent need to purchase my services? Those who need the job done urgently will become clients the quickest. Accordingly, they are the ones to focus on to increase revenue. Rather avoid engaging someone who is merely curious.
Next time someone asks you for free advice, remember the MAD-FU