Time And Materials Or Fixed Price Contract?
If you have already chosen a team to work with (read how here), here we help you to choose the working approach describing the way we use it in Mind Studios.
Price is what you pay. Value is what you get.
Warren Buffett, American business magnate
The fact you have probably heard these words a thousand times before does not actually make them less relevant to the whole buy & sell situation. If you are the one of the self-confessed serial entrepreneurs who have launched quite a few successful businesses then you know how important the right price and value combination is.
The same combination works for the IT business world as when trying to provide valuable mobile and web experiences to the customers. Therefore, one of the main questions is how large the check for the services is going to be. Respectively, price tag is directly connected to the company’s working scheme — on the time & materials or the fixed-price basis. Both of them have pros and cons, although customers tend to dislike the hourly basis a bit.
