If it's a reasonably well defined project that I feel comfortable scoping, I'll typically charge 1/2 to 1/3 of the total project cost up front (before any work

If it's a reasonably well defined project that I feel comfortable scoping, I'll typically charge 1/2 to 1/3 of the total project cost up front (before any work has begun) depending on the total project size. The second 1/2 or 2/3 is usually then contingent on me completing the work to the satisfaction of the client. I've found that this provides good incentives for both me and the client to both participate fully, do a great job and hopefully get paid promptly at the end. When I'm working on an ongoing project where the requirements are evolving, I simply track hours and usually bill twice a month. Using Freshbooks it's easy to do this and keep track of everything and get the invoices sent in a professional manner. I create an invoice, and date it for either the 15th or 30th and then just add to it until that date, then send it. I've found that most clients do prefer detailed records of what it is that they're paying for, so over time I've just made it my habit to record this carefully for them. I would also stay away from stock options unless you LOVE and BELIEVE in the company and their leadership. Keep in mind, you cannot pay your rent or buy food with stock options, so that is a very speculative way to accept compensation.