Know More About Freelance Work
There’s plenty of work to go around but not all of the work is worth your time. Some jobs you should “just say no” to. On the other hand, most new business owners understand that bills have to be paid and the only way to grow a business is to take on work, and some of that work won’t be the highest quality clients at the beginning.
But even for the newest business, some jobs just aren’t the jobs you want.
Let’s Talk About Your Time
Time is in short supply for all business owners. If you could buy more of it at the store, you probably would, but your only option is to maximize what you have.
Maximizing your time means choosing your actions with great intention. Every choice impacts your time. Saying yes to one thing means saying no to something else. With that in mind, taking the wrong gigs may take you out of the running for the right gigs because you’re simply out of time. But what is a wrong gig?
1. The pay is too low
In your business, there are market rates that often come with a range based on education and experience. If you’re new in the business, you’ll be on the low side of the market rates but that doesn’t mean you should work for considerably less than the low end of the range.
Don’t forget, you have taxes, insurance, retirement, and other overhead to pay and they aren’t giving you a discount. Working at a loss holds very little benefit.
And most business owners will tell you that people who try to undercut on pricing are often difficult customers. Don’t commit your valuable time to people that don’t want to pay reasonable rates.
2. They want to pay you in “free advertising”
Bartering with other businesses can be beneficial, but typically, working in exchange for “free advertising” isn’t. If the New York Times calls and offers to exchange work for advertising, that might be an arrangement you’re willing to entertain. A small business, a website, or the side of some local organization’s trailer have no value to you as advertising space.
3. They want you to work for free or at a discount because “It’s for the kids”
Part of being a responsible business owner is giving back to your community and those in need. There’s absolutely no doubt that you should give of yourself, but set a reasonable percentage of your time to set aside for those endeavors. They might not even be connected to your business. For all of the other requests that come in, politely decline and wish them the best.
4. They tell you “I’ll give you equity in my company”
Again, you might be passionate about helping up and coming business owners like others helped you but as a form of payment, just say no. If they can’t afford to pay you, the equity in their company probably holds no value.