We’ve all heard the old adage “you get what you pay for” — it and similar such quotes have been around way longer than anyone who is reading this article has been alive. In our business, we have certainly found this to be true, and we’d like to offer you my thoughts and ideas on this topic. There are a number of factors to consider when hiring freelancers, and as you work toward meeting your business goals.
Some food for thought…
We believe this statement is valuable enough to reflect on its true meaning, and how this can become a guiding principle for your business. John Ruskin (1819-1900) is quoted as saying, “It’s unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money – that’s all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot – it can’t be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that, you will have enough to pay for something better.”
How does this apply to hiring freelancers for your business?
As the steward of your business finances, it is (of course), wise to take price into consideration as you look to hire freelancers for your projects. We recommend reviewing the “red flags” that you need to address when deciding whom to hire. We’ll also suggest some steps that we take in our own business to ensure that we have done our due diligence when hiring freelancers.