Are you giving away too much or not enough?

The lawyers I encounter on a daily basis in my consulting practice struggle with this question regularly. Since lawyers see knowledge as their value, it is sometimes difficult to determine how much to "give away." Should a lawyer provide a free consultation? Is it a good idea to write a blog and put all of your ideas and theories out in the open? Should you participate in CLE or other educational ventures where you are imparting your knowledge to other lawyers who might be your competitors?

I am told on a regular basis that I give too much information away for "free." Between this blog, my monthly Lawyer Meltdown newsletter and all of the speaking engagements and other article writing I do, I give away a lot of information.

Why give away so much information for free?

The truth is that there's an awful lot of information out there for free and readily available, particularly on the internet. What I speak and write about isn't necessarily 'new' information or information that couldn't be found elsewhere. But although the information is available, not everyone has the time (or the inclination) to ferret it out, to weed through the garbage and to find what is relevant to them. Even fewer know how to apply that information or to make it work for them. And only a tiny percentage of those actually get around to implementing or taking action - and that's the golden nugget of what I do. I help my clients take action - something most of them won't or can't do on their own.

As a lawyer, you may give away a lot of information. In fact, you may have to give away a lot of information in order to demonstrate your expertise and gain the trust of your clients. The question really is: Can your clients take action on that information effectively to obtain their desired result without you? The answer is probably no.

As Todd Youngblood of the Customer Think blog points out in his post, "The Insanity of Protecting Your So-Called Proprietary Knowledge":

Fact: The more valuable the knowledge you possess, the more valuable you are to your customers
Fact: As more customers and prospects realize you have valuable knowledge, the more they will seek your advice and the more they will buy from you
Fact: The more you share your knowledge, the more customers and prospects will recognize the fact that you possess valuable knowledge
Therefore: Aggressive sharing of all of your knowledge is an excellent strategy

While many will disagree with his conclusion, fearing that they will be giving away their secrets to their competitors and contributing to their own downfall, in practice, this rarely seems to occur, as long as you are continuing to expand your knowledge and serve your clients well. Giving away your information increases client appreciation and loyalty, which generally leads to more business and more referrals. And who knows - maybe even your competitors will come to see you as an expert and refer you business or request to collaborate with you.