The Cost of Free: Economic Implications

You’ve probably noticed the trend in the last week of businesses offering products or services for free to help out during the COVID-19 crisis. I applaud the impulse, but there’s a fatal flaw in the logic—the economy depends on people creating value and other people recognizing that value and willingly paying for it.

Now is the time to pivot, innovate, and leverage every ounce of your creativity to survive and thrive as a company. That’s good for your business, your customers, your employees, your community, and the economy at large.

Today, we’re going to give you three solid reasons why you need to be charging for your products and services, especially now.

In this episode, you’ll discover—

• The positives and negatives of giving away your products for free during times of crisis
• How you can help alleviate the negative impact of the COVID-19 pandemic on the economy
• Examples of times when generosity got in the way of transformation
• What giving things away won’t do for you
• How to provide lasting hope, recovery, and opportunity by pivoting and providing value for your customers

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