Define the value of the gig for yourself: Are you taking it because it's a well-paying gig, because it's great exposure to your target audience (and there's a very good potential for gaining new fans), or because it's the kind of gig that you know you'll have a lot of fun doing. There's no wrong answer here unless the reason you're considering the gig doesn't line up with what you've defined as the value of the gig. David J. Hahn's blog post offers some great explanations of reasons to take or not take a gig.
For the purposes of this post here's an example of when it might be wrong to take a gig: You are offered a gig that is a great paying gig, in fact about 3 times the amount of pay of most of the gigs you have been doing. Certainly, you could use the extra cash. The only issue is that it's a corporate gig and your cover band typically plays covers of hard-core metal likely not suitable for even the coolest of corporate events. Also, the corporate event planner informs you that they want to hire mainly to if the band can play classic rock hits from the '70's.
Of course, your band can play classic rock hits from the '70's, even though that's not really what you're known for. Of course, the money for the gig is excellent and would be very welcomed by you and the rest of the band. Of course, the audience at the corporate event will likely love it because you're playing what they asked for. However, does this gig help you further the brand of you and your band? Likely, not if you're not playing the music you're typically known for. Is this gig going to offer the opportunity for your band to convert new fans into your loyal following? Perhaps, if you continue to be a classic rock cover band, which is what they would experience--but classic rock is not what you normally perform.
So do you pass on this gig? My answer would be yes, but even if you took the gig that's okay as long as you define what is valuable to you about taking the gig.
Posted by: Nick Venturella