Will you sleep hungry tonight?
There’s an ongoing debate on “low” rates.
I’ve been in so many groups and I’ve seen something interesting.
Someone asks this:
“I’m dying of hunger. Should I take this job paying $3 per 500 words?”
Another, probably rich writer, answers this:
“No, that’s slavery. Don’t take anything below $50 per 500 words!”
“Whoa! If you’re DYING of hunger, then take that $3 job!
“Do it and get something to eat.
“But don’t stick there. As you deliver pure gold to that low paying, $3 client, keep pitching for higher paying ones.
“Don’t sleep hungry because of advise you’re getting from a rich writer.
“The rich writer is probably eating his third slice of pizza right now.
“Even if he quits writing tonight, he probably will still have savings for 6 months.
“When you die of hunger, he will not even come to your funeral.
“You’re the one struggling. So you need to be wise about it.
“Start from where you are and keep growing. Get the $3 client, then a $10 client, then a $50 client and eventually you’ll get to the big $100+ clients!”
OK, you got me. I wouldn’t comment there that the rich writer is on his third slice of pizza :D. But you get the point, right?
Does this mean we should all go for low rates because we’re hungry? No!
We don’t have the same challenges. And some rates are just not viable. You’ll end up spending more on the internet and transaction costs than getting income.
In fact, when bidding or pitching, you set the rates. Never ever set low rates. Set the rate you want.
Low for me may not be low for you. When starting I just needed a way to make 30k per month. That was high for me then. it would sort out most of my needs then. It would pay my rent then.
30k per month may be so low for some right now, but that’s all I wanted. I did my math and actually got close to 30k, then 60k the next month!
I knew my own situation and wouldn’t sleep hungry because someone thinks 30k, or 60k is too little.
Go straight for the awesome clients and even if you miss the amazing, you may land on some good ones.
“Walter, what if I’m not sleeping hungry? What if I have another source of income?
Then my friend, DO NOT go for low rates at all. Do NOT take that low paying job.
It is false to think that low paying clients will give you good ratings or whatever. A good client is a good client and a bad client is a bad client, regardless of their pay.
The low paying client will get someone to work for them. There’s definitely a person somewhere who just needs 30k per month. And that client will be an angel for them!
“Great! Now, what if I’m stinking rich and I just love writing?”
Well, start a blog and monetize it. You can earn more from your own work, than from client work.
Over to you:
How do you set your rates?
Would you sleep hungry and turn down a low paying job?
If you’re earning zero, would you turn down 30k?
If you’re doing well and have some savings, would you take on a low paying job?
Let’s hear it in the comments…