Where’s the money?

Despite the world financial problems, I am still seeing the same number of companies approaching me with mobile development opportunities. However, what’s changed is that not all of them have any money. A greater proportion are offering shares, a share of profits or other displacement earnings schemes to try to get developers on board. This is a great strategy if you have an idea with no funding but unfortunately, I need the income so I have to turn these people away.

Therein lies one of my top tips if you want to survive as a mobile developer. When talking with potential leads, work out from where the money is coming and assess the risk. The next tip is to exercise tight financial credit control. Make it clear, preferably in a contract, at what point you expect to get paid and at what point you will stop work if not paid. Even with these controls, I recently got stung effectively giving credit to a company that was running out of money. However, with tight control I was able to limit the financial damage.