[bradleyland]

I'm a business manager who knows how to code (poorly). Rather than pursue programming, I saw an opportunity for be to bridge the gap between programmer and customer, so I have a lot of experiencing guiding developers away from catastrophes like the one you suffered.

Two things to take away from this:

* If you provide a fixed price without a fixed spec, you had better be prepared to lose your shirt. Fixed work means fixed spec. Always. Any changes must be accompanied by a document (a change order) that spells out the impact to the bottom line, because that's what business managers care most about. The key is to make sure you clearly communicate the impact to the bottom line all the way up to the check signer.

* Never let a project get to 14 weeks without the check signer (not just your contact or stakeholders; the person who will sign the check) knowing that you're accruing billing. It doesn't matter how good your friend is, you don't want them in a position where they're having to act the odd-man-out in order for you to get paid. It may be the "right" thing to do, but you can prevent them from ever being in that position by setting up communication that reaches all the way to the person who pays the bills.