Never write a check that your ass can't cash...
If you don't take care of yourself and your own business first, it won't matter what good intentions you have, you won't be able to pay anyone else if your business goes under.
Personally, I put off projects until I have a guaranteed budget for them, rather than bet that I can pay people on the backend based soley on projections. That way everyone is always guaranteed of being paid what is owed to them on time.
It's a conservative approach, but it has served me well, and helped me build a good reputation as a person/company to do business with.
ADG