What is Speculative Work: 11 Pros And Cons To Explore

The term "freelance work on spec" refers to an agreement in which the client agrees to pay for your services before you begin working. If not done correctly, this can have serious consequences.

It is critical to recognize that your client is taking a risk by hiring you on spec. This means that they will usually expect something in return for their money, even if it is just a sample of your work, before agreeing to anything else.

So let's dive into this topic so you can be informed and protected when starting or expanding your freelance business.
What exactly is speculative work?

Speculative work, also known as "spec work," is any type of freelancing work completed by a designer prior to payment. If the client likes it, they will usually pay you. If not, we've just saved ourselves some time and effort, right?

Spec work is not the same as proceeding with a project without first signing a binding contract. It occurs when you agree to do something without being paid for it. If not done correctly, this can have serious consequences.
In short, spec work is any completed freelancing design that is not paid or even guaranteed. In general, the client appreciates your work and pays you after you've completed it.

What if they don't? You leave with nothing more than a rejected design. Designers, developers, writers, photographers, and videographers can be asked to do spec work.
This is done by consultants or professionals who are not employed by a company but are assisting you in growing your business through various services such as marketing, SEO, and so on.

However, keep in mind that it can be asked of anyone with experience in the freelancing industry. That means you have every right to request spec work as well.
When it comes to spec work, you should be aware that there are some advantages and disadvantages. Let's dive into this topic so you can be informed and protected as you grow your freelance business.
Speculative Work Types
Pitches that are innovative

Created Pitches are the most common type of speculative work because they are typically completed when a solo freelancer or agency competes for large-name clients.
It is not uncommon to present the client with details of what they will receive if their project proceeds before any agreement has been reached.
Of course, this is only possible if you have agreed on terms and given them your word that nothing is final until a contract is signed.
It can sometimes backfire if the client likes your idea and decides to implement it without compensation.

However, if you have created a detailed presentation or design for pitches, don't worry because they will not detract from your creativity but will instead assist them in their decision-making process.
Clients may prefer to see multiple options before deciding on a course of action.
Competitions

For business owners, creative contests are akin to a fictitious lottery. On the surface, it appears that both parties will benefit.
The company can test an idea without incurring overhead costs, and designers can have their work seen by potentially thousands of people who were previously unaware of their existence.
However, just like any lottery, this method of spec work has some significant drawbacks.

For starters, you never know what the client is looking for or who they want to hire. Perhaps their budget isn't large enough to cover your fee in the first place?
They may be getting designs from all over the world, but they still manage to find someone local who fits within their limited budget.
Second, there's no guarantee they'll hand over the prize money. It is not uncommon for a company to run an entire competition and then never contact the winner.

Third, there's no way of knowing what your work will be used for once you've signed over all rights.
It may appear to be acceptable if it is posted on their website or social media. Alternatively, if they are using it as part of a marketing campaign, that may be acceptable as well.
But what if you designed something for them only to discover that they used your work on a future item to sell?
What if someone else steals your design or idea without crediting you? It happens more frequently than you might think.

Job Opportunities

This is where spec work becomes a little more difficult to navigate, despite the fact that it is not technically considered speculative.
When someone offers you a job or a contract that requires previous experience before hiring you, it's time to take the offer seriously.
Even if they are offering to get you started with the company, it is never good news when someone refuses to hire without first seeing what you can do.
After all, spec work is used because companies have no other way of determining how well their design would fit into their business model or whether your services are even required.

If they are willing to take a chance on you, make sure the offer is worthwhile of your time and effort before entering into any kind of contract with them.
However, if this opportunity entails participating in something like an internship or mentorship programme with no monetary compensation other than food and travel expenses, it may be worth your time.

Advantages of Speculative Work

1. A Game-Changing Opportunity
   This is most likely the most obvious. It allows you to impress prospective clients with your work before they even pay for it.
   If you are struggling to find work, this could be a game changer or even a lifesaver.
   
2. Create a Portfolio While speculating will never be the same as being paid for your efforts, it can be a great way to build your portfolio and gain experience before diving into full-time freelancing.
   It's also a good idea if you plan on working for an agency or design firm in the future, as they usually require a certain number of spec pieces as part of the recruitment process.
   
3. Getting Paid to Play
   It may not be the ideal situation, but some clients will pay you for your time even if it is only an hour or two here and there, especially if they know it will help them with something bigger.
   If you don't have any other work, it can be a great way to make some money, and there's no harm in putting your name out there for potential opportunities.
   
4. It is an excellent opportunity to pitch for additional work.
   Nothing prevents you from pitching your spec work as a job proposal once you've completed it. If the company likes what you submit and how it fits into their business model, you may end up working with them again in the future.
   If they reject your idea, use another one of your ideas or a different approach to persuade them that this is something they should think about after all.
   
5. A Method to Gain Experience Without Investing Too Much Time and Money
   Let's face it: everyone needs industry experience, but not everyone has the time or money to invest in gaining that valuable element known as exposure.
   The calculation will cover both of those costs, and you will be able to include these specification samples in your resume if necessary.
   
6. The Opportunity to Work for Free with a Company
   If they intend to hire you or award you a contract after using your work, it could indicate that the company was sufficiently impressed by what you submitted.
   You might also get paid for this work soon if the pieces are good enough and they believe you can deliver more pieces like them. Of course, this is extremely unlikely, but it is still possible.
   
7. More opportunities in general at some point in your career
   When asked about speculative work, one freelancer replied: "In the current freelance climate, I don't think speculative work is any worse than unpaid internships. Both have advantages, and either can be a way into a company."
   It's no secret that many businesses use this method of hiring at some point in their business cycle, so if you're willing to put in the time for spec work, it could lead to better opportunities in future years when times are tough.
   
8. A Different Approach to Client Interaction
   When working full-time or part-time with clients on web design projects, graphic design work, and more, it's always good practise (and even recommended) to assess what they need first before anything else.
   This aids in avoiding team member conflict and communicating expectations so that everyone is on the same page.
   You can take this process to the next level by investigating what your client requires before they even realise it.
   This will set you apart from the majority of other freelancers out there, and it could be the key to your business's long-term success.
   
9. Sharpen Your Design Skills
   As most designers are already aware, web design work (and any type of design work for that matter) improves with practise; it's all part of growing as an artist in any capacity.
   Speculative work allows you to put your skills to use without worrying about getting paid or spending too much money on supplies because everything is done for free.
   
10. Strive to stretch your creative muscles.
    Because you are essentially working for free, there is no pressure to complete the task or project within a specific timeframe or budget, which may result in your work being subpar in comparison to other designers out there.
    Speculative work will assist you in gaining control of the situation by giving you complete control over what needs to be done, how long it should take, and even where to obtain any additional materials you require. This helps to keep everything under your roof, which can lead to more time (and money) later on if desired, because this type of work can be done almost anywhere, at any time, by almost anyone willing to give it their all!
    
11. Get on a new company's radar and land some paid work.
    When you first start out as a freelancer, it can be difficult to get your name out there. This is especially true if you are new to working with clients and do not have any previous work experience.
    For those looking for freelance work, speculative projects allow you to get paid without having to provide samples of your previous work or meet their expectations beforehand.
    Of course, there's always the possibility of non-profits or smaller businesses with fewer financial resources to offer, but it also gives you a good chance of landing a contract job with them down the road!
    The Drawbacks of Speculative Work
    
12. No Payment Guarantee
    Even after all of your hard work, it is possible that you will not be paid for this project and that your efforts will be in vain.
    If you need the money, this could seriously jeopardise any remaining financial stability, so it's critical to consider all options before accepting a speculative job offer.
    
13. You are unable to use your work for any other purpose.
    It makes no difference if they use your work on their website or social media; they still own the rights to it.
    If it's not in there, you can't use it for your portfolio or even show people what you've been working on.
    
14. Inadequate Quality Control
    The client may not have considered your deadlines or may have had another type of time constraint, so there is no guarantee that you will be able to produce the best quality work if they are rushing you.
    This can be extremely frustrating if you are attempting to build your portfolio in order to launch a new career.
    
15. There is no guarantee of future work.
    This is a catch-22 situation, especially if you need the money right away. If you say no, they may not offer you any more work, and there is always the possibility that they will recommend someone else to take your place on their next project, which would be extremely frustrating.
    
16. Postponing Your Career
    Depending on how much time you want to devote to speculative opportunities, it may jeopardise your chances of joining an actual company full-time rather than doing freelance work part-time or giving up entirely because you haven't produced anything worthwhile yet!
    This mindset can ruin anyone's career, so it's critical to consider all options before embarking on a new adventure.
    
17. You Must Understand When to Say No
    If you're in a good financial situation, it might be nice to take on some speculative projects to explore your creativity without having to worry about all of the extra stuff that goes into making that money back in the end, but there are times when you have to say no!
    No matter how much fun or easy something appears to be, if it isn't going anywhere or is simply hurting your chances of making more money in the future, it may be best for you and your clients if you pass on this opportunity. Isn't it not worth risking your entire career for one project?
    You should also think about working with others who have already gone through this process, as they may be able to offer some insight and help you learn from their mistakes!
    
18. The client may not be a good fit.
    The client may request the impossible, and there is no way you could ever meet those requirements, which means they will either ignore your work or cause even more problems down the road if they decide to hire someone else who has no idea what is going on with the project.
    
19. There is no guarantee of future work.
    Even if you're pleased with how everything turned out, that doesn't mean this client is, causing them to withhold payment or refuse cooperation entirely!
    You could spend days perfecting the outline and design only to have the client walk away, leaving you with nothing and no way of ever getting your money or completing your project.
    
20. It's possible that you'll be taken advantage of.
    There is always the possibility that this job is not worth what they are paying, and there is also the possibility that you will work for hours without being paid at all.
    This type of job may cause you to lose focus on anything else going on in your life, causing more harm than good!
    
21. It's Almost Impossible to Learn Anything New by Yourself
    It doesn't matter if someone teaches you how to make websites because there are manuals available online; however, if they want something more complicated or specific, teaching yourself becomes more difficult unless you have an extremely high IQ or someone to walk you through the process step by step.
    
22. You May Lack the Required Experience
    If you are new to this industry, it may be best not to waste your time on speculative work because most clients will not care about your prior experience. This means that they will expect you to know everything right away, which means that if you fail to deliver what is expected of you, they will simply move on, leaving you with nothing.
    This can be especially damaging if you lack real-world experience, so instead of hiring someone who has already done the job, consider internships or smaller companies that may value your input.
    
    How Should You React to a Speculative Work?
    Speculative work is a double-edged sword, and it will always come with some level of risk.
    Taking one step back to take two steps forward later on, on the other hand, may be worthwhile if the opportunity arises at just the right time.
    There are numerous benefits to speculative work, but make sure you are certain of your decision before accepting anything.
    It may not feel good to have done all of this work for nothing, but it does provide you with more experience and a stronger portfolio, both of which could be invaluable in the future if the right opportunity arises.
    It's critical to know when enough is enough, so don't take on any work that you can't complete.
    
    It would be a great opportunity for exposure, but it could also leave you with nothing to show for your efforts, so always put your career first, even if it means passing up this opportunity.
    Although speculative work is not the same as paid freelance work, it can still help you build your portfolio and gain valuable experience.
    
    Conclusion
    A speculative work opportunity may not be the ideal situation, but if you need to build your portfolio or start a new business, it can still be beneficial.
    It's similar to buying a lottery ticket and hoping for the best, but if you play smart and take advantage of your opportunity, it may still be worthwhile.
    Simply be cautious of what you're getting yourself into and avoid making any commitments that you can't realistically fulfil.
    
    Make sure that this will benefit both parties, and never accept work unless you are absolutely certain of what they want from you.