Email: Password: Remember Me | Create Account (Free)

Back to Subject List

Old thread has been locked -- no new posts accepted in this thread
???
03/30/05 08:26
Read: times


 
#90661 - Engineers are rarely businessmen
Responding to: ???'s previous message

I'd like to echo this sentiment also. All the money I've been screwed for has made me a little smarter in regards to business.

1/ GTFC - get the F**** cash! That's the whole reason of doing business! Most contracts have 50% up front - this actually covers your costs, the extra 50% is your profit. If the customer doesn't pay the last 50% at least you've covered your bills - and they've lost any support.

2/ State what the transaction is up front - you do this for $X, the customer gets Y......... Be sure to state who will own the intellectual property - this is normally the case for an hourly based service. In the case of intellectual property - what are the deliverables? Program as source code and binary, pcb as pcb file, schematic as paper & file ........ Most arguments over payment normally revolve around some issue that was expected but not actually stated. Keep notes of phone conversations and copies of emails - evidence helps when you have to get legal.

3/ Be aware of company and commercial law - In Australia, if an insolvent company is trading and writes you a cheque - the cheque can be recalled by the administrator and you don't get your stuff back. This is an evil gotcha. You have to prove that you were not aware that the company was insolvent etc. Unfortunately most of us learn about the ins and outs of law the hard way.

Many companies just string you out for payment because they can - so try to see if the company is reputable by finding out who else deals with them and try to get some feedback. If the customer doesn't want to sign off on work done or tries to squeeze you too much on price - you don't need them as a customer. Reputable people normally will know what is a fair price for your service and not try to cut your throat. Everyone in business needs to make a margin - this margin is negotiable but always make sure you make a profit!



List of 29 messages in thread
TopicAuthorDate
Recovering Stuck Money.            01/01/70 00:00      
   tread softly            01/01/70 00:00      
      Re: Treat Softly.            01/01/70 00:00      
      Tread Softly            01/01/70 00:00      
         legality            01/01/70 00:00      
            Result            01/01/70 00:00      
               time boming            01/01/70 00:00      
   I implemented something similar...            01/01/70 00:00      
      RE: 'I Implemented something simillar.            01/01/70 00:00      
         Copy serial EEPROM not possible            01/01/70 00:00      
            Got the point.            01/01/70 00:00      
      I need to clarify,.....            01/01/70 00:00      
         One more clarification....            01/01/70 00:00      
   Didn't work for me            01/01/70 00:00      
      Did you store keycodes in SEEPROM.            01/01/70 00:00      
         1kb Add-Only Memory            01/01/70 00:00      
         RE:Did you store keycodes in SEEPROM            01/01/70 00:00      
      Also Tried and failed but..            01/01/70 00:00      
   Sounds familiar            01/01/70 00:00      
   It's all in the Money            01/01/70 00:00      
   Time Bomb Collecting            01/01/70 00:00      
   Challenge/response            01/01/70 00:00      
   engineers are rarely businessmen            01/01/70 00:00      
      Engineers are rarely businessmen            01/01/70 00:00      
   Time Bombing the product.            01/01/70 00:00      
      Money looks like Monkey            01/01/70 00:00      
         Monkey            01/01/70 00:00      
      Legal battles            01/01/70 00:00      
   Custom Project Payment            01/01/70 00:00      

Back to Subject List