When to say no to money

A couple years ago I had a small gap in work, and a client appeared who seemed like “quick money” to me, until everything went downhill. I ignored the red flags and regretted taking on this project, and then it got even worse.

“Quick money” or even ”any money” isn’t always good money, and there are many ways to understand whether you should turn down a project for your own good. The cost of a bad project can be higher than its profit, and this newsletter is exactly about that.

So when should you actually say “no” to money?

When you spot one of the red flags

Oh, those red flags... we all know about them, but sometimes we don’t pay attention. Nevertheless, a good habit can be noticing them early on and declining a project before it becomes your problem. Of course, a couple of red flags might just mean there’s something unsaid and/or misunderstood, and here it’s important to discuss with the client and communicate. This is your job as a professional. But if you continue to see red flags – it’s worth thinking about whether to say “yes” to this project. Here are some common red flags:

• Scope creep specialists - clients who constantly expand the project without additional payment

• “Exposure” promises - when they offer low pay but “huge reach”

• Rush projects with normal pay - urgency should cost more

• Clients who don’t respect boundaries - texting on weekends, at night, expecting instant responses

• Projects outside your values - industries/brands you don’t want to be associated with

I have a long checklist of red flags that are definitely worth knowing. It’s available with my updated coaching session packages (more details on my website soon!), but let me know if you want to receive it – DM me or comment below, and I will share it with you.

When “profitable” is not enough

If you need money asap, then “profitable” is an option. But if you’re looking not just for money, but for good (really good) projects, here’s what you should know: if they’ll pay you well but take a lot of other things from you, this might be a reason to say “no” to the project. Here’s what that could be:

• Projects that take up a slot for a better client

• Work that pulls you in the wrong direction, not the one you want

• Clients who are emotionally draining

• Projects that hurt your portfolio

When your gut says no

Intuition is a powerful thing! Trust it after the first call with a client, and even after the first email conversation. There’s a big difference between “this feels off” and “I’m just scared” – the second is not a reason to not take the project, but rather stepping out of your comfort zone. Ask yourself these questions before agreeing to a project:

• Would I take this project if money wasn’t an issue?

• Will I be proud to show this work in my portfolio later?

• Would I be happy with this project even if other opportunities came up?

If you answered three “no’s” to yourself – maybe it’s a sign.

Building the muscle to say no

The best ways to always have the ability to say “no” to a project:

• Have a financial cushion. You’ll have freedom to be selective

• The rule of three Ps

• Your non-negotiables list - boundaries, minimum price, terms

Saying no to “wrong” money makes space for “right” money – you never know what the next project will be, but you definitely know that your resources and your time are limited. Just calculate for yourself, how much did that bad project really cost you? Your time, stress and mental health, other opportunities…

You and your time are very valuable, remember that!

Thanks for reading,