Internet Business Guide

For First-Class Progress

Sponsoring Contests

Written by

Marcus Hochstadt

in

,

I’m just too tired…

Do you consider asking me whether I would contribute or sponsor your upcoming contest? It may happen I am willed to do that, though please keep the following in mind before ever asking me. It could save us a lot of valuable time…

Just recently, the following happened. One guy approached me asking whether I would sponsor his contest and if so, what. I agreed since I like(d) his blog. I told him what I could contribute and the monetary value of it. He responded wondering why it would be “so high” (i.e., ‘expensive’.) He even tried changing my price by putting HIS price (i.e., value) over MINE.

That’s just bad, bad business practice.

Imagine you would ask one of the well-known “big names” in the Internet business world whether they would contribute. Would you question the monetary value of their time or contribution? Certainly not. So…

Stop questioning mine, or else I simply forget about your contest and maybe anything else about you. As simple as that.

My time is too valuable to be wasted.

Of course, feel free to ask any of those “cheeper” options. Just be aware that you may get something cheap in return…Thanks for reading.

—Marcus Hochstadt

Comments

8 responses to “Sponsoring Contests”

  1. PLAYTHERE.com Avatar
    PLAYTHERE.com

    Good article that I find fault. It is not unreasonable for anyone to question the value in the quote they receive, that is smart consumer shopping. There is of course a difference between questioning how someone got to the price they are charging and arguing the charge itself. For myself, if a merchant cannot reasonable justify the rate they charge, they are wasting my time as I feel they are trying to gouge me.

    In short, it is a fine line the goes BOTH WAYS!

    PLAYTHERE.com

    Reply
  2. Solomon Broad Avatar
    Solomon Broad

    Some folk (myself included) just don’t know when they’re well off.

    Reply
  3. Jay Avatar
    Jay

    Damn Marcus, my bad! You didn’t have to dedicate an entire post to lil’ old me lol!

    But I do apologize for questioning it and I definitely didn’t mean to offend you. The only reason why I brought it up is simply the fact that I charge $6 for my designs and I think my designs are pretty good. So, I’m almost questioning myself for charging so less!

    Also, you have to remember that people do have to question things like this because it not only effects the asker, it also effects the responder.

    But to answer your question, I would also question any “big names” in the internet business, but that’s just me. Just because they’re a big name, they may have never proved anything to be directly.

    So, I would still love for you to contribute as a sponsor for my contest, if you don’t want to, I’ll understand.

    Thanks and sorry about that man!

    Jay

    Reply
  4. Arohan Avatar
    Arohan

    I would almost alway question the price. Remember, a price is always set by supply and demand, between a buyer and a seller

    Reply
  5. Canucklehead Avatar
    Canucklehead

    oh Jay, how did I know?

    Reply
  6. Deimos Tel`Arin Avatar
    Deimos Tel`Arin

    LOL @ Marcus!

    So would you still sponsor the 888 EntreCredits you promised for the riddle contest hosted at GeekRiddles.Com? :p

    1 April 2008 is approaching soon it is time to announce the answer of the riddle and distribute EntreCredits to all those who participated. :)

    Reply
  7. Marcus Hochstadt Avatar
    Marcus Hochstadt

    Imagine a guy meets Anthony (Tony) Robbins, the motivation guru. He asks Tony whether he would contribute to his upcoming blog contest and if so, what. Tony happily agrees and offers to sponsor a personal 1:1 one-hour coaching session.

    Anthony Robbins’ daily rate is at $40,000. Considering he works up to 15 hours on such a day, his hourly rate would be a whopping $2,666, which makes it to the monetary value of his personal 1:1 one-hour coaching session he would be happy to sponsor for the guy’s blog contest to gain popularity.

    Let’s say the guy’s income level is at about $2,500/month, so he may start arguing like this…

    “Tony, please… I appreciate your knowledge, but one of my best friends is also an NLP expert. He usually charges only $50 per coaching hour. Frankly, NLP is NLP. Why on earth would someone pay $2,666 when they can get about the same experiences elsewhere for 50 bucks, or 50+ sessions instead of just one! Let’s set that down to a more reasonable $500 (five hundred), OK?”

    You think Tony would waste any other second with that guy?

    Reply
  8. John Avatar
    John

    Wow I was coming on here awhile back and dude I know you’ll delete this but it seems like you changed $ alot >No person’s time is more valuable then another’s.Everyone’s chasing a buck with this BS advice scams hey man get back to basics it’s NOT about the money or is it?I have seen that change in alot of people. Dont got there Brother

    Reply

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