Honor system, an age-old equation, newly reprised

The honor system is old as the hills. At the University of Virginia, it was infused into our lifestyle and formed a building block of our credo, even to this day. Wahoo wah.

In past years I have seen book boxes in neighborhoods where you take a book and give one back. No money, just a swap. Always well stocked, the honor system must be working.

Where there is no need for direct interpersonal interaction, smart ideas ensue in the pandemic. Recently, farm stands popped up: produce is available literally for the picking, and a bowl left for payment. No attendant. Just you, your honor, your conscience, the mother of invention. Listen to your mother.

When human interaction and money are limited, I am hearing about the recent "pay what you wish" model. Defined: agree to receive services or knowledge attuned to your needs, and at the end you determine how much you can afford, or believe the education was worth to you. The truth serum of interpersonal trust is injected at the end when you pay. It's about the value of services in equal exchange for money.

I wonder how both sides feel upon conclusion and compensation.

Payer

The payer is in control and assesses the value of the payee's services. Perhaps the value is not perceptible immediately but needs time to germinate and bear fruit. Perhaps the payer doesn't apply the new knowledge at all...after all, little ventured, little gained since we tend to make use of that which we paid up for.

Payee

But what of the equation wobbles? Topples? I wonder if the provider felt the time, energy, experience, and wisdom they gave offered made it, so they wish they were never paid what the receiver wished to pay.

In this new model, does the payee receive monetary and psychic compensation that he or she thinks is worthwhile? Or their worth? How about all the experience that comes along for the ride? See a mind-changing article I was introduced to years ago, a turning point for me on the topic of pay for service, literally head-on: 'You Can't Pick My Brain, It Costs Too Much."

Today I came across another quote by Brigette Hyacinth who said:

“If I do a job in 30 minutes, it’s because I spent 10 years learning how to do that in 30 minutes.

You owe me for the years, not the minutes.”

The tipping point?

I am suspect of "pay what you wish," though I admire those who have the stomach for offering it in exchange for their knowledge. I suppose they believe some income is better than none at all. IMHO, this dilutes your personal and company brands' worth, but I admit, I tend to be an obtuse curmudgeon. Perhaps I will someday change my opinion on this. Not yet.

However, I do still respect the honor system equation: in my case, when people say they hire me for multiple iterative LinkedIn coaching sessions, they can be expected to keep to the meeting schedule and ride out the full curriculum, one session building on the previous ones, within a short period to maintain momentum, all designed to reinforce their overall learning experience.

The old equation that has worked for me, now 10 years coaching and training on LinkedIn:

• honor and commitment
• client-centricity
• proposal, pricing, schedule
• my 51% (at least), their 49%.

Accordingly, no one has complained. Neither have I. In all cases, they get 110% of me. You can't barter or discount that.

BTW, if you did the math, the remaining 10% is on the house. On my honor. 

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About Marc W. Halpert, LinkedIn Trainer and Evangelist

I am a “multi-preneur,” (www.linkedin.com/in/marchalpert) having started 3 companies, all of which I continue to operate. My latest business, connect2collaborate, spreads my LinkedIn and networking evangelism worldwide to train and coach others to better explain their brand and positioning on their LinkedIn profile pages:

• as an “evangelist” to help nonprofits cultivate talent pool, volunteers, boards, and corporate sponsors.
• as a corporate trainer for departments needing to know how to optimize LinkedIn for their responsible areas.
• as a coach helping professional practitioners in all industries use LinkedIn to better achieve their goals.
• as a high-energy speaker at conferences.
• as a volunteer coaching and teaching underemployed baby boomers to master new better career objectives.

I blog daily on LinkedIn topics to encourage readers towards a more beneficial use of this amazing tool. I speak about LinkedIn at public events and private corporate sessions too.

Each year I “niche out” a population to teach LinkedIn best practices. In past years I have served lawyers and professional practitioners, and nonprofit professionals. I have authored two books on LinkedIn: the first one was published by the American Bar Association “LinkedIn Marketing Techniques for Law and Professional Practices” was released June 2017 and "You, Us, Them, LinkedIn Marketing Concepts for Nonprofit Professionals Who Really Want to Make A Difference" in June 2018. Both are on Amazon in paper and e-book. The second book also has a companion online e-course to complement it, available here.

Recently, and unfortunately well-needed in extreme unemployment in the USA, see my "LinkedIn for Baby Boomers and Other Encore Career Seekers" online e-course--it's available here!