Construction Secrets

Why settle for average contract negotiations when you can negotiate like a pro? In this podcast, we share the expert techniques and strategies that pros use to negotiate effectively while minimizing risks. If you're in the construction business, this is a must-listen. Here’s Part 2 of my recent interview with Paul Heming of the Own the Build Podcast.

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(2:56) - This concept of liquidated damages, which is a pre-agreed amount of what it would cost if you delayed them

(7:13) - We want to cap the liquidated damages, which is the cost to reimburse the clients for them being late in construction

(9:34) - They're expecting you to negotiate. That's the game

(12:12) - Whatever that number is in the main contracts just gets lifted and shifted 100% into the subcontracts, even though the subcontract is 5% of the overall or ten or whatever

(15:06) - Your final account, your last couple of invoices, payment applications are where it all goes down

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

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Respect isn't just a nice-to-have in construction; it's a must-have. In this podcast, we explore why respect plays a vital role in the industry and how it can lead to more fruitful partnerships and projects. Don't underestimate its power. Here's Part 1 of my recent interview with Paul Heming, CEO of C-Link and host of the Own the Build Podcast.

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(5:06) - Is that true about PWC, Deloitte, Ernst & Young going to these bigger companies and talking about if you want to be more successful, push the risk down the chain?

(7:10) - Why did you want to talk about the word respect?

(9:38) - Why is it you think there is something inside which makes contractors saying, I'd like to feel that I am considered easy to deal with? What is it that makes them feel like that?

(12:45) - How do you prepare for a meeting that I've just described which, you know, is going to be pretty savage?

(19:15) - You're trying to influence the outcome ultimately, and it's about being the reasonable man.

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

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This episode is a re-run. It was originally published in September 2022.

Uncover the secrets to outshine your competitors in this important conversation about contract administrators in construction. Don’t miss out!

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(2:14) - Contract administrators are very important and it depends on where you are in the world where you live from

(3:53) - If you deliver on-site, you're going to get a good reputation for getting the work done and you're going to get referred work

(4:28) - A contracts administrator is someone who understands a contract inside out

(5:52) - What are the chances in the work that we're doing that something is going to happen in between, say, month 12 and month 24?

(11:18) - If you're looking to hire someone, make sure that they have the commercial acumen

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Learn about the money side of construction and watch your business grow! Tune in!

For more videos, subscribe to my youtube channel using this link: https://quantumcs.co/CSYouTube

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(1:34) - What we actually want is to receive a lot of money upfront before we do any work

(2:38) - The worst case is you are the same as everybody else

(3:40) - A lot of construction companies don't do good marketing

(5:48) - If you're looking to be around for a long time, how likely is your current business model?

(6:37) - They've essentially used construction to change an entire economy

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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This episode is a re-run. It was originally published in September 2022.

Contracts often state unnecessary complexities, but fear not, as we're here to help you! Tune in!

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(2:40) - While they are construction companies that have construction expertise, they're actually finance companies

(4:02) - It is in their best interest as a risk arbitrage to make the contracts down the way more aggressive than the one that they've signed

(5:40) - The construction industry has the highest insolvency rate out of any industry

(6:15) - Their goal is to push the risk down onto you

(7:51) - Even though it looks like a standard contract, it isn't necessarily going to be a standard contract

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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What is your business famous for? How do you establish your construction business in a way that it stands out from everyone else? Listen here and get all the valuable tips from my interview with Allan Dib! 🔊

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(1:08) - It's content, but sometimes it can be an experience or sometimes it can be a tool

(2:14) - What's something that you're known or famous for within your target market that kind of acts as a magnet?

(4:41) - We want to demonstrate that we can help the prospect by actually helping them in advance

(5:07) - Goodwill translates to brand equity and translates to, you know, cash

(6:26) - That little arm of your business doesn't need to make lots of money

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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This episode is a re-run. It was originally published in September 2022.

Most individuals dedicate around 220 workdays annually, and while it might appear substantial, excessive unnecessary tasks and administrative chores call for a smarter approach. Discover essential tips to reclaim your time, ultimately preventing long-term financial losses in this episode. Listen up! 🔊

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(1:27) - By signing a better contract at the end of the day, it reduces your downside

(2:08) - Lots of different ways in the contracts so that you can make more profit or lose less money

(4:24) - How much earning potential you have on a day

(5:09) - Your time is extremely valuable to you and your business

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Find out how to win big in construction even in today’s tough financial climate. Listen up!🔊

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(2:11) - Who are they? What type of revenue do they have? How many employees do they have? What type of company do they have?

(3:00) - The right type of clients are going to pay you more

(3:14) - If you get on top of this, you'll have an advantage on everyone. It doesn't even have to be expensive

(4:39) - You're just not competing with other people on price. You want to be offering different things

(6:34) - So many countries in the world are pushing towards green construction

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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AI meets drones: the incredible duo taking the construction world by storm! Get the inside scoop here!

AI in Construction Playlist: https://quantumcs.co/AIinConstruction

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(3:24) - In the case of disasters or big big issues drones can be used to locate and rescue injured workers

(4:07) - The biggest one is costs

(4:44) - With real-time accurate data you're going to be able to make a lot better more informed decisions

(5:29) - It's actually replacing quite a lot of jobs very very quickly

(6:11) - But they still have a step where they get a proper engineer to review that particular step in the process

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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Do you believe that negotiating contracts in construction pushes projects away? Think again because in this podcast we are debunking this myth! Listen up! 🔊

Construction Companies doing $5M+, watch this FREE Case Study on how Quantum has helped 8 Construction Companies sign lower risk contracts and boost cashflow & margin: ⁠⁠⁠⁠⁠https://quantumcs.co/casestudy-podcast⁠⁠⁠⁠⁠

If your business is making less than $5M, YOU are why I make all my materials FREE. Get more FREE Training & goodies here: https://constructionsecrets.io

Timestamps:

(1:46) - I think if we try to negotiate our client is going to award us the work

(2:42) - The biggest construction companies, the most successful companies negotiate like absolute crazy

(4:03) - Do you think that works in your favor or against you? Do they think you're easier to deal with or are they thinking you don't really know what you're doing?

(5:25) - Limiting the downside is more important than looking for this huge upside

(5:58) - Everything can be negotiated

DISCLAIMER: The content of this podcast does not constitute legal advice, is not intended to be a substitute for legal advice, and can not be relied upon as such. You should seek legal advice or other professional advice in relation to any matters you or your business may have.

Follow our Socials and let's get connected! ⤵️

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