Opportunities come with obligations

March was a slower month for me. Although I still had enough work to keep me occupied, I didn’t have the typical packed load, so I was telling myself to enjoy the more relaxed pace while it lasted.

And yep, April looks set to be a busier month as I’ve been exploring a few leads. But even as these doors potentially open to reveal new paths, I’ve been reminding myself that opportunities come with obligations.

That’s because while closing projects is exciting and all (hooray for incoming money!!), you actually have to deliver on what was agreed on after that.

So, this is when I start to consider:

Do I even want these obligations?

Apart from providing writing services, I also work on email marketing projects. And recently, a potential client inquired about having me migrate 60+ email automations from her current email platform to a new one. Because she found the migration work overwhelming and was keen to outsource it.

The thing is…after seeing the number, I also felt overwhelmed.

I quoted her a fair price for the work. Still, I couldn’t help thinking: did I really want to help migrate 60+ automations…? Even if I’d be paid a good amount for it…? 😅

The project ultimately didn’t go through for other reasons, but I can’t say I was too disappointed.

What’s in it for me to take up these obligations?

While money is definitely one thing, it isn’t the only thing.

Sometimes, I might agree to something even if it doesn’t pay well, because it comes with the chance to:

• Build my experience
• Connect with new, interesting people
• Do something fun

That said, exposure doesn’t pay the bills, so I don’t let these commitments take up the bulk of my time.

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One last thing. While it’s great to have lots of opportunities, don’t forget about opportunity cost:

While you spend time fulfilling your obligations for one project, you won’t be able to use that time on a different project. So, be selective with the opportunities you pursue—and the obligations you tie yourself down to.

Prioritise the ones that will bring you closer to the goals you’ve set for yourself and your freelance business.

More freelancer news

Self-employed tax-filing tips, courtesy of IRAS

Just sharing some IRAS resources you may find helpful if you’re new to filing taxes as a self-employed person!

• ​Common tax-filing mistakes that self-employed persons make (this is an Instagram post)
• ​Tax obligations of various self-employed professions (there are guides for e.g. freelance performers, platform workers, social media influencers)

More platform workers are taking loans to cover daily expenses

Over the years, many platform workers have found themselves having to work longer hours to earn the same pay. Their rising living costs have not helped either—and especially if they have to pay large, unexpected expenses from e.g. medical bills.

So, more of them have been taking personal loans (often four-digit sums) to cover their expenses.

But as platform workers don’t earn a steady income, lenders tend to see them as being more at risk of defaulting on loans. They may then extend platform workers loans on less favourable terms.

​Read more in this article.​