A

All Projects

A project pipeline other studios have added you to in addition to projects you've created. Think of it as an aggregate of all of your projects.

Automated Clearing House (ACH)

ACH is an electronic network of processing transactions between participating financial institutions. Clients are able to pay your invoices with an ACH transfer and this incurs a 1% transfer fee.


B

Backstop Date

The last date in which work for the project can be carried out.

Brand

Or "Studio Brand" is the visual representation of your business reflected in your studio and scope through your logo, brand name, colors, and text.


C

Client Goals

A space to add notes to your scope including the goals and purpose of the project.

Collaborator

A person you're connected with or would like to connect with to build your network or a project team. You can add collaborators to Your Collaborators and invite them to Wethos by simply adding their name, email, title, and URL on the Organize page.

Custom Service

The product or offering your studio sells customized to fit your business needs. Each service includes a name, quantity, price, description, and role.

My Collaborators

A space to add your go-to teammates to organize your network or to discover new teammates by searching and filtering the community.

My Clients

A client pipeline that shows all of the clients and accompanying projects you create.


D

Deliverable

A deliverable is a set of work that results in the delivery of a tangible asset or value to clients, for which clients pay money. For example, a website project might consist of deliverables such as "Assemble mood boards" (Role: Brand Designer; Unit: 1 mood board; Price: 2 points), "Layout website pages" (Role: Graphic Designer, Unit: 5 pages; Price: 2 points), and "Implement on-site SEO optimizations" (Role: Web Developer; Unit: 1 website; Price: 6 points).

Deposit

To add money from your linked bank account into your Wethos Payments Account.

Discover

Find new collaborators to add to your network or form the perfect team for a project. Search and filter by keywords and tags within the My Collaborators page, allowing you to narrow in on the right collaborators to save or reach out to.

Discoverable Profile

A Wethos profile that can be viewed by all Wethos users on the Discover page.


E

Expenses

The money you spend on something. Expenses will appear as line items in your Transactions tab and you can designate additional expenses when creating an invoice for your client.

Expiration Date

The date in which the contract will expire if not signed.


F

Feature

A specific piece of functionality that has a corresponding benefit or set of benefits for the user.

Feedback Rounds

A set number of sessions with the client to discuss any changes or assess the progress of the project. This is an opportunity to prevent scope creep from your client.


G

General Terms

Legal contract language that can be added to your scope to define and govern any specifics of doing business together. You can provide your own contract language or leverage this reference from Wethos.

Groups

A way of organizing your contacts and collaborators so you can quickly and easily find the right teammate from your network to fill an open role. Groups are private and you can organize them however you see fit (industry, specialty, where you met them, etc.).


H


I

Invoice Schedule

A plan for sending out your invoices to clients to set clear expectations for when payments are due.


JK


L

Linked Account

An external bank account that is linked to your Wethos Payments Account for the purpose of transferring money by deposit or withdrawal.


M

Manage

A feature to track your project’s progress, specifically which teammates are responsible for which deliverables, their due dates, how much each teammate is earning, and when payouts are due. Mark services as complete to automatically update the budget and timeline.

My Money

Your Wethos Payments Account home to allocate expenses to specific projects, check your balance, and deposit or withdraw money. Click here to visit My Money.


N


O

Open Roles

The roles within your project that have yet to be filled by teammates.

Organize

A way to arrange your network of studio members, go-to collaborators, or new connections within the My Collaborators page. Keep track of who you know and who you want to reach out to by creating groups and organizing your network.


P

Pay

The tab specific to each project that shows all expenses, transactions, and payouts. You can invoice clients and payout teammates from this tab.

Phase

A distinct stage of services in a scope that marks a series of events, time, or a process of development. Examples of phases are in time (April, May), events (Phase I, Phase II), process (Research, Strategy, Execution), etc.

Profile

A profile is a collection of your work experience and expertise, packaged up to share with other Wethos collaborators. Your profile includes work samples that you showcase, a profile picture and social links, and information used to help other studios discover you - your industries, services, tools, causes, and languages.

My Projects

A project pipeline private to you where all of the projects you create will appear. Similarly, "All Projects" is a project pipeline other studios have added you to in addition to projects you've created. Think of it as an aggregate of all of your projects.

Project Status

The dynamic state of a project defined as either a lead (initial interest state), won (scope signed and closed), lost (scope declined or rejected), in progress (project underway), or complete (project complete).


Q


R

Role

A title assigned to a service as a way of categorizing the type of teammate or expertise needed to execute on the service.


S

Scope

A detailed outline of a project, identifying the services to be executed, the cost of the services, and the designated roles that will execute on those services. A scope is organized by phase and may include due dates, client goals, general terms, and an invoicing schedule.

Scope Creep

The common occurrence of the scope, services, or features on a project expanding from what was originally set, without being accounted for in additional time or budget.

Scope Template

A group of pre-set, adjustable services that act as an example of what a project could consist of. Wethos includes native templates from Wethos' former agency, peer-priced templates from the community, and your own templates. The scopes that you create become your own set of templates that can be accessed for an even quicker scoping experience. Also known as "Template."

Services

The product or offering your studio sells. Each service includes a name, quantity, price, description, and role. All services can be edited to fit a client or project need.

Service Library

A collection of custom services or peer-priced services that can be used to scope projects quickly.

Signer

The client-side contact who will sign the scope or contract.

Studio Brand

Or "brand" is the visual representation of your business reflected in your studio and scope through your logo, brand name, colors, and text.


T

Tags

A label that helps identify certain aspects of the platform. Tags can be added to your profile to help the community search for you or they can be added to your scope to help you quickly search for it and reuse components of it.

Teammates

The collaborators who are working on a project with you.

Template

A group of pre-set, adjustable services that act as an example of what a project could consist of. Wethos includes native templates from Wethos' former agency, peer-priced templates from the community, and your own templates. The scopes that you create become your own set of templates that can be accessed for an even quicker scoping experience. Also known as "Scope Template."

Timeline

A list of events that is automatically generated when you create a scope that includes due dates. Timelines can be used to track the progress of your project, team, and budget.

Transactions

Any movement of money within your Wethos Payments Account is listed as a transaction, including expenses or payments for a project. It's also the tab where this information is listed. Go to your transactions.

Transfer

Move money from one account to another.


U


V

Virtual Studio

A virtual studio is your space to scope projects, team up, and pay your collaborators all in one place. Studios have services that are sold to clients, a brand that makes them unique, collaborators as part of a network, and scopes that bring all of the moving parts together.


W

Wethos

Wethos is a first-of-its-kind platform that enables creative studios to instantly scope work, staff projects, and manage budgets all in one place.

Wethos Services Library

The entire suite of data-backed, peer-priced services available to be saved to your Services Library. Access to this library is a premium add-on after your trial period on the platform.

Withdrawal

The removal of money from your Wethos Payments Account into a linked bank account.


XYZ

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