Is it really an opportunity cost?

Edric Mendoza, the host of the cable TV program called On the Money, interviewed me on his TV program last year. The main subject of the episode centered on “giving”. Perhaps, it was an appropriate topic as the holiday season was all about giving gifts, or because it was a subject matter that wasn’t commonly discussed in a money show.

How important is giving? How does it contribute to business success?

When we talk about giving, we quickly think about corporate foundations, donations, philanthropy – then we dismiss it and tell ourselves: “Ah, this giving business is not for me. I don’t have billions of dollars so this topic does not concern me.”

What many people do not know is that giving is very pertinent to ordinary people like you and me.

Adam Grant, the author of the book Give and Take, says, “Success is increasingly dependent on how we interact with others. It turns out that at work, most people operate as takers, matchers, or givers. Whereas takers strive to get as much as possible from others and matchers aim to trade evenly, givers are the rare breed of people who contribute to others without expecting anything in return.”

“Quid pro quo.”

“I scratch your back, you scratch my back.”

“I owe you one.”

All these words simply mean that life and business involve giving. Here is the key, giving reaps profit and even though it may not be immediate, the returns will eventually come.

Let me share my personal experience with you.

There have been times when good hearted and well-meaning organizers invest in events. But due to inexperience or poor marketing, or some other conditions beyond their control, they lose money in the process.

I don’t like the prospect of getting paid while others lose money. There were numerous occasions when I waived my fees so they could recoup their losses. In one instance, the mother of the organizer was in tears and said that she was so “ashamed” at what happened.

My reply was simple, “This is business. Sometimes you win, sometimes you break even and sometimes you lose money. You are honest and humble about it; there is absolutely no reason to be ashamed.”

I may not have received my pay, but I really felt good and that feeling cannot be assigned a price tag. This organizer grew her business. She recommends me to her clients for their learning events. She is now one of the many zealous sales evangelists and would account for many invitations that come my way. I did not lose money when I waived my fees many years ago, I have actually invested in the creation of a passionate press-agent and PR person who can do things many times more than what advertisements and press releases can do for me.

Today, I still do parenting talks, seminars and values talk for students and educators. I refuse to be paid and politely decline honorarium.

This is my personal mission: to spread the good word and teach values to those willing to listen.

Accountants call it “Opportunity Cost”. 

If I spent all my time and effort doing paid talks, then I would have made more money. These “PRO-BONO” talks do not yield a single cent for me. The question is this: did I lose money in terms of opportunity costs? I don’t think so.  I was unwittingly creating opportunities which I enjoy today.

By giving, you never lose. Let me explain the process.

When I provide keynotes or seminars for my corporate clients, they pay me well and bring food for my family. I am grateful for the opportunity. But when I do “PRO-BONO” talks for parents, teachers and students, I get inspired. And this makes me a better trainer when I get to speak in paid corporate settings. I don’t think I lost money. And this is just half of the equation. Since I have been doing this for years, many young people who listened to me when they were still in school became successful professionals and entrepreneurs working in different industries today. These people invite me to their companies to provide talks and trainings. This is the power of giving.

Continuous giving is the secret. Direct your time, talent and resources to the right way. This is what I am called to do and this is what gives me meaning in life.

A principal once asked me a very penetrating question, “Why do you continue to do PRO-BONO talks and seem to enjoy it so much?”

Then I replied, “Perhaps, it is because I look at it as PRO-DEO.”

Spend two life-transforming days with Francis Kong learning leadership and life skills as he present Level Up Leadership on March 17-18 at EDSA Shangri-La Hotel. For further inquiries, contact Inspire at 09158055910 or call 632-6310912 for details.