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Question about milestones

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Community Leader
Joshua T Member Since: Apr 18, 2016
11 of 16

@Kathy T wrote:

Also, in the future, if you do a similar job, and what you do on that 3rd milestone is very easy and very quick, then you assign only a small amount to be funded for that last milestone. Figure out, what it would cost to do just that last milestone and that's the amount to be funded. So instead of having $400 allocated for that milestone, you could have it funded for = let's say $100 or less. So  your milestone would be, #1 for $600 #2 for $500 and #3 for $100.


 I don't assign amounts to milestones, the client does. Obviously.

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Community Guru
Kathy T Member Since: Jul 17, 2015
12 of 16

You are correct in stating that the client assigns the milestones, but in the end, you are in charge. You can accept what the client assigns, IF that's agreeable to you. Likewise, you can discuss the terms, basically letting the client know what is acceptable to you. Example = Please set this job up for 3 milestone. The 1st deliverable will include XXXX and will be funded for $xxx. The 2nd deliverable will include XXX and be funded for the amount of $XX and the last milestone will include the deliverable and completed project and will be funded for $XXX. You can either fund them all and release them as the requirements are completed for each milestone or you can fund each one as they come up. As soon as the 1st milestone (or all) is funded I can begin working..

 

I'm sorry, and there might be a lot of replies here that say I'm wrong, but IMO I am the contractor. The client has a job that needs to be done and gives me a description or idea of what they want. I, as the contractor tell then what I will do, how long it will take, and the amount I charge. If that's agreeable to them, they HIRE me to do that job. I do not work as an employee, and they are not my employer simply because freelancing/contracting is MY business. I am the owner of my business.

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Community Guru
Jennifer M Member Since: May 17, 2015
13 of 16

You fell for the draft/revision scam. Never do that. Full escrow deposited or no deal.

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Active Member
David I Member Since: Jan 20, 2019
14 of 16

Hello Jennifer,

It seams clearer by the day, this is the way to go...

Unfortunately..

Thanks,

David

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Community Guru
Wendy C Member Since: Aug 24, 2015
15 of 16

When working Fixed Price jobs determine the number of milestones needed.  Lets say 3 as in the OP's case.

 

-  90% of the full quote should be divided equally between milestones 1 and 2.

-  The remaining 10% (or less) should be for edits and revisions.

 

This eliminates the scenario you went through.

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Community Guru
Tiffany S Member Since: Jan 15, 2016
16 of 16

It's also worth noting that there is no reason for separate milestones for the rough draft and final draft, since the milestone system is set up to allow the client 14 days to review the draft and request revisions if needed.

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