“Why do you give away so much information and advice?”

That’s a question I hear a lot.  People say that I could be making a ton of money charging people as clients for a lot of the information I put in my blog or when I’m just just talking to someone casually.  The thing is, I really enjoy talking to people about their businesses and financial matters.  It gives me a sense of pride knowing that I can help a person to understand something that once confused them or give them ideas to improve their situation.

The question comes up a little bit more when people read my blog.  Actually, it may be the second most commonly asked question after “What is that blog-thing you do?”  But, to understand why I do what I do, people need to know the story behind my early professional experience.

An eye-opening experience

I started working at a small banking institution in order to get exposure to the banking and finance industry.  It was part of my master plan to combine my ongoing education toward an accounting degree with this banking experience in order to move up the corporate ladder and set myself up with a comfortable life.  I did gain a great deal of knowledge of how the consumer banking industry worked, but I also saw an absolutely ugly side as well.

I got to experience firsthand just how selfish and ruthless some people and businesses can be.  The branch I worked in was located near a pretty large retirement community, and most of the customers were elderly folks who were essentially left there and forgotten about by their families.  Many had lost their spouses, and to this day, I swear that a good number of them came in to the branch simply for the companionship.  Even if it was just for a few fleeting moments, they simply wanted to have someone who would pay them some attention, and the excuse could be as meaningless as having a passbook updated to get it.

I was never the greatest salesperson when it came to selling anything other than myself, so I had been in trouble with management for my lack of sales.  You see, banks make money by bringing in “new” funds so that they have more to lend out to other institutions (people as well) and the Fed Overnight Lending Rate you hear about is the interest the banks receive on the funds they lend to others.  So, if you sell a new account, the customer brings in money from another institution,  and that gave my employers more money to lend and earn interest on.  That’s why so many banks would give away things like toasters, Pyrex cooking sets, cash bonuses, and other goodies to get people to bank with them.

Like I said, I was often behind in my sales, and was reprimanded and warned quite a bit about raising my numbers, but I just couldn’t do it.  How could I consciously sell a second or third account to a person who never managed their own money before?  How could I, in good conscience, recommend another checking account when some of these people would come in for assistance in balancing their existing checkbook?  How could I take advantage of these people?

Well, I could, but I just chose not to.  I finally told the assistant branch manager that I had enough of that crap.  It was against my nature and morals to talk someone into doing things that not only weren’t in their best interest, but also potentially harmful as well.  I asked her what if one of those people I sold an extra account to was her grandmother and she subsequently lost track of the money and started bouncing checks, costing her overdraft fees and losing money that she couldn’t afford to lose?

The response was one of those standard management responses about having to do what we are instructed to do to keep our jobs.  My answer was that I wouldn’t do that and if they wanted to fire e because of it, I would understand but it would be more of a reflection on their own character than my abilities at this profession.

You know I left that meeting unemployed.

Finding myself

That’s where it all began.  I realized that making money doesn’t have to mean stepping on people to reach new heights.  From then on, I was determined not to be the one who takes advantage of people.  I didn’t want to be the one who charged clients for every single second spent on the phone.  I didn’t want to be the one who made every encounter with someone a sales pitch.  I didn’t want to be the one who advised people to buy or use a certain product just because of the commission or kickback I would receive.  I didn’t want to be the one who was responsible for inflicting financial harm.

That’s why on my business site, I don’t have any ads.  That’s why when I talk to someone I’ll give them my business card and simply say “Take this in case you ever have any other questions” rather than make a push for them to hire me on the spot.  I give advice and tips on the blog for the very reason I don’t do all of the other things I mentioned earlier.  I do it because I like helping others and educating them to help themselves.  It doesn’t always have to be about the money, and I was raised not to think that it is.

That is what blogging does for me.  It allows me to potentially reach a large number of people with advice and ideas for improving anything from their business operations to tax understanding to how what works for one person may not work for all.  It allows me to take my prior experiences in banking and a brief toe-dip into mortgage brokering, my current positions as tax accountant and business owner, and help others who may be where I have been.  It also helps me to challenge people and hopefully get them to think for themselves rather than take the things they hear, see, and read at face value without considering how well it could apply to them on an individual level.

More than words

That’s also why I like this group so much.  The motto “Selflessly Helping Others” is something that I can relate to and isn’t just lip service to me.  From the members who build websites for a living telling someone how to solve a technical problem, to the countless “competitors” for reader attention giving the newbie advice on how to be more engaging, this group truly represents this slogan and philosophy.  And that’s why I am so proud to be writing this member post and the newest inductee into the Network!

Sam’s note:  If there’s I can think of who you should hire to do your taxes or get tax advice from it is Eric!  Please visit Dollarversity and check out his tax business called GreenBridge Advisors!

Photo: The Windmills of Mykonos, 2011.  SD.