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Torn between the lesson i’m learning and the product i’ll receive

Young entrepreneurs class
There are courses in entrepreneurial leadership. There is also a real life entrepreneurial course called “starting your own business”.

 

Torn between the lesson i’m learning and the product i’ll receive. As a small business entrepreneur, there are lessons in life that no book can teach because in life, the lesson is real, and it’s your lesson.

Paying a contractor by the hour versus by the project may not be the best choice. It is probably the best choice for a contractor, but for a customer (me), it may break the budget.

Time will tell, and i will accept what happens because i didn’t know enough before the agreement. i went on a hunch that everyone would end up being happy.

PS. Fast forward 100 days later to today…happy ending. i don’t contract with many people, and everyone i’ve contracted with has delivered exceptional quality. At the end of the day, you pay top dollar for great quality, whether it’s by the hour or a contracted price.

 

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By jeff noel

Retired Disney Institute Keynote Speaker and Prolific Blogger. Five daily, differently-themed personal blogs (about life's 5 big choices) on five different sites.

2 replies on “Torn between the lesson i’m learning and the product i’ll receive”

If the contractor is experienced and honest, I have to think that, ultimately, the cost SHOULD be in line for either option. But that does, of course, depend on how the quote was presented. It’s also not unacceptable to factor in extra money, for contingencies, up front. That’s just good business practice.
Now, if there is scope creep/change or an unusual process issue and both parties are forthcoming about it, there could be a possibility for renegotiating.
Not only is there the black and white of the work done and written agreement, there’s also the gray of what’s should be transparent and what should be exclusive knowledge to the contractor (i.e. their costs for materials), as well as the ethics of communicating things.
While I don’t contract myself out, at the moment, these are things that I’m seeing everyday as I deal with contracted work.
Of course, there’s learning for everyone.

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