More than a few years back, Lowell Williams became a partner at Pentagram and came back to his old stomping grounds in Houston to give a presentation about his experiences to the local AIGA chapter.

He opened his presentation with an idea that has since stuck in my mind. How do you decide if you should take on a new project? He had a very simple method.

To take on a new project, it must meet at least two of the following criteria:

Outrageous fees.
Compelling work.
Fun people.

That simple. Now let’s look at the logic.

You cannot have just one. No one is going to give you a bucket full of money and not expect something in return, like maybe doing a little work for them. Nor are there projects lying around on the ground just waiting for someone to bring them to life. And “fun people” are, well, generally called “friends”. So, at a minimum you have to have two.

The fees are straight-forward. If you’re not going to get paid, why bother. Wait a second … if the work is really interesting, there’s a chance to learn or grow, or the finished piece will look great in your book, maybe you’ll want to take the project on. And it the client is a fun and lively group that you’ll want to hang out with after the project wraps … alright, let’s do this! See, his method works.

Another angle: The project is super interesting, a real challenge that will stretch you, but the client is going to be equally challenging. Charge them out the wah-zoo. It’s amazing how a hefty check in your bank account can ease the pain of the 75th round of revisions at 3 o’clock in the morning.

On the flip side, the work isn’t all that interesting but you really like the client, use this as an opportunity to make a little money. There’s nothing wrong with that.

Of course, the Holy Grail is a project meeting all three criteria. In my career, I’ve been fortunate to have had a few such projects. They’re golden: the opportunity to do some amazing work that I am especially proud of, while making some new friends and money along the way.

Mr. Williams is right; a project must meet two points, but in my mind, strive for meeting all three.