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Thanks for the tips! > Assuming this works out, then you ideally do fixed price, not hourly. Latter can become scammy Can you elaborate? I'm assuming you mean
by seanwilson 8y ago
Thanks for the tips!
> Assuming this works out, then you ideally do fixed price, not hourly. Latter can become scammy
Can you elaborate? I'm assuming you mean if they work slower they earn more money? I prefer fixed price as well when working with clients; it has big advantages for both sides.
> For the fixed price, you will divide it into milestones so that the first set of costs isn't too much but also gives some kind of re-assurance to the dev that you're serious and can give money.
What do you do for payment if they don't reach the milestone or you're not happy with the quality?
> One Fintech developer claimed he was the main developer for wealthfront.com and betterment.com lol and had them as part of this portfolio. I soon found out it was an amazingly bold lie which I guess many folks do fall for.
How did you find this out?
> In my experience, they are ALWAYS late. I don't have a good way so far to control for that effectively.
I find the same with clients. You have to be very cautious agreeing to any deadline where you're dependent on other people and factors you cannot control, especially if you've never worked with someone before.
- nyrulez 8y ago- The costs become uncapped and always end up more, with no accountability. After a certain while, sunk cost factor kicks in and it's too late to back out when you realize this developer is slow or not so great. Good confident developers will be able to estimate costs for projects upfront. - You either lose the payment or ask for refund. I have done both. That's the risk. You can perhaps lower the risk by giving a much smaller initial milestone or negotiating first payment after some work. - With crazy claims, the suspicion is already high. I talked to him for a few mins and it was clear there was no sophistication present and the guy was trying to attract clients with little to no experience. Are you already working on a project or planning to?