Raise your hand if you’ve ever been in a place where there’s no cash coming in, none on the horizon, and you’re looking desperately for something – anything – that pays now or sooner. Ooo, that many?
Fact is we’ve all been there – some of us more than others. And what’s the first thing we do? We go straight to Craig’s List, Guru, or eLance and practically beg for work. If we score a gig, chances are mighty slim that it’s paying anything near what we are worth. “So what?” you say. “I’m able to pay the rent/pay the electric bill/buy groceries.” Yes you are – for now. And in the time it’s taking you to finish those low-paying projects, you could have scored at least one gig that paid competitive wages. Seriously.
Case in point – I saw last month that my February projects were slim. The temptation was to hit Craig’s List or the job boards and take a lower-paying job that paid much faster. Instead, I took the time to craft two magazine queries for two publications, one paying 75 cents a word and the other paying $1 a word. These are pubs I’ve worked for in the past, so I know the average time it takes to get a check. And now instead of staring at an empty bank account at the end of February despite having some quick-and-dirty projects completed, I’m looking at a really nice pay day and I’m feeling good about heading into March’s busy season with some financial cushion. Time invested – 2 hours of preliminary research and 8 hours interviewing/writing. Payoff – $4K. Let’s compare that to a blogging job I turned down recently that offered $5 a post for 5 posts a week. Assuming about 30 minutes to write and post a day…. yep. I made the right decision.
Don’t let your immediate desperation force you into taking something that’s beneath you. You’ll regret it, maybe not immediately, but when you realize what a few more minutes of concentrated effort could have accomplished instead. And you’ll be stuck in an endless cycle of working your tail off for peanuts because you’re overworked and underpaid and you’ve got no free time to spend looking for something better. If you’re truly stuck, get a temporary position outside the house and stick with it until you’re able to shore up the bank account or secure enough project work to get you back to the home office. Don’t settle for less than you’re worth. We’ve all done it at one point, but it’s no way to run a successful business.
What project did you take on for quick cash that you regret?
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