I bore a 5-digit loss at C4E last week
We recently worked on a brand identity and design project for a startup that one of our long-time friends is building. And I did not raise the invoice for 50% of the project fee.
Why did I say no to the money?
When we take up a project, we make a promise to our clients – we will work with them as partners and not as contractors.
And that means, we would do WHATEVER it takes to ensure that they are happy. And we will NOT rest till they ask us to stop. It’s our promise.
In this case, after many attempts, and for many reasons, we were not able to reach a mutual liking. Even though we were working with our friend and at a deeply discounted price.
Design is subjective.
Startups are agile.
Stakeholders are many.
Now, money aside, a lot of time went into this. Not just from our side, but our friend’s as well. And so, while we couldn’t have gotten time back, we were able to cut 50% of their financial loss.
I wanted to return the advance as well, but I didn’t. Apart from the fact that it would’ve been too much effort, it might’ve changed the tone of the relationship.
This was perhaps an easy decision because with this project and many others that come our way, our primary objective is not to make money.
Yes, money is the grease that helps the machine run. But, we are here to play, to learn, to do things that we’ll be proud to put out in the world. And if we make money out of some of these, that’s cool.
From a different note, here’s some perspective on what variables matter to us –
We want “work” to be at least two of these – mazza, revenue and / or brand. Lemme elaborate. There are three things…
1/ What we do must allow for mental orgasm – once we’re done with a project, we must feel great about how we pulled it off!
2/ Revenue – we are not the cheapest and I am sure we are not the only ones offering promises of reliability, access, accountability, never-say-die and standing by your side.
3/ Build brand C4E – one of the projects we did (for a leading insurance company) was drab but it allowed us to say that we work with them. This nomenclature itself made us sit in rooms that we would otherwise not be able to get to!
[If I can have you read one more thing, let it be this – https://x.com/saurabh/status/1868327454420693104]
What about the collaborators who worked on it?
Each collaborator (strategist, writer, designer) got paid the full amount for the work they did. The loss was C4E’s.
One of the most noticeable things about C4E from day 0 has been the relationship with our collaborators. I’ve seen it since the very beginning. I didn’t question it then. And over time, I saw the value.
As a collective, our strength comes from our relationships with the partners. And thus, when it came to this project, it was important to hold our end of the bargain. Like any other time.
The afterthought?
It’s a question, actually. Is this how businesses are run?
One of our closest friends asked me why I chose to do this. They had a fair argument. Businesses aren’t run on emotions. And if you want to build a successful one, you don’t leave money on the table.
At the time, I had no response except to say that this is what I’ve seen, ingrained, and believed to be right. Maybe it comes from that place.
I also remembered another thing a client told us. In any business transaction, he hopes to never have to turn around and walk away when bumping into someone.
Muh firaake nahi jaana hai.
And I think that is accurate. Because when I think of this as a super long term game, I want to think of value first, money second. I want to keep the door open, and our heads held high.
A reaffirmation, or rather, a parting thought…
The reasons I decided to write this was because it is one of the first tough decisions I had to make independently.
When I went to Saurabh with it, his only response was ‘okay’.
No questions asked.
In fact, I had to convince him that I want him to know the reason as well.
He heard me out. And told me that it didn’t matter anyway.
When I say I have had the opportunity to fall and learn WITH a safety net at C4E, this is what I mean.
Until the next lesson,
Chandni