There’s an axiom that goes like this: “There are three ways that any task can get done. It can be done quickly, it can be done well, or it can be done inexpensively.” The adage goes on to say, “And it’s possible to have any two of the three.”

So, for example, a job that gets done quickly, and done well, isn’t going to be inexpensive. And a job that’s accomplished inexpensively will be done either well or quickly, but not both.

Whether you’re writing, editing, teaching, or marketing your work, this adage makes a lot of sense. It has practical applications. Say you’re a freelance writer who’s been assigned a story with a quick turnaround time. Of course, you’ll do the job to the best of your ability. But because the editor wants the story quickly you’re perfectly within your rights to ask for more money than you otherwise might have.

Or if you’re an editor you’re justified in negotiating a delayed deadline if the writer doesn’t want to pay you much.

The flip side—you’re hiring someone instead of working for someone—is also true, of course. If you hire an editor or someone to market your work, you’ll need to decide which two of the three ideals you want. Obviously, you expect anyone you’re hiring to do the job well. So it may come down to a choice of speed or money. If the editor is wise she’ll say, “I can do a rush job, but it will cost more money” or “With the price we agreed on I won’t be able to get this done quickly.”

If you’re an editor or a marketing specialist, in rare cases a client may insist on both a short deadline and yet not be willing to pay you much. Although there’s no doubt you want to do the job well, it’s not feasible to get the work done quickly, yet superbly, for little money. Something has to go, and in those uncommon cases, it may have to be quality. That’s unfortunate because we always want to do our best, and a less-than-perfect job may hinder chances of getting more work from that client, but we have to be realistic. We can’t do all three; life doesn’t work that way.

This situation happened to me: I had an editing client who paid poorly and wanted me to edit extensively (“bloody it up with lots of red ink,” he used to say). But he asked for unrealistic deadlines. He once called me at 6 p.m. and wanted me to edit a book . . . with a deadline of 10 a.m. the next day. I turned that job down and eventually had to tell the man I wouldn’t be doing any more editing for him. I don’t miss his work because at the rate he paid the money wasn’t much. And my life is less stressful because I’m not futilely trying to attain all three ideals.

Remember that just about everything is negotiable, whether you’re handing money over to someone or on the receiving end. Be upfront with the person you’re dealing with and decide together which two of the three ideals are going to get done.