13th
The above link is a definite must read for anyone who is out there dealing with the issues of the economic environment. The story is of a company Calliflower and the problems they ran into in hiring a 3rd party developer to build their iPhone app.
The problems center around Calliflowers need to stretch out payments to manage cash flow matched with a developers issues in getting the code done on time.
I think that today more then ever you need very clear and straightforward contracts with all of the people you work with. If Calliflower had a clean contract that had performance metrics, they would not be having the issues they are having today. Additionally if you are hiring contractors/vendors you better make sure that you have the cash to afford their services because it can become very hard to convince a 3rd party to stretch payments and in essence become your venture capitalist.
