Construction Secrets

Construction Legends, this is something to be proud of! Discover why the Construction Industry is one of the best to be in right now. Here is Part 2 of my interview with David Corson of the Commercial Construction Coffee Talk Podcast. Listen here!👂

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:

(2:34) - There's a lot of money to be made at leasing as well

(4:54) - I think everyone expected AI to replace blue-collar jobs. And it actually looks like AI is probably gonna replace white-collar jobs first

(6:32) - You've got to hold the reins tight on AI because it's a dicey concept

(8:43) - There's so many other things that you can do and if you wanna make a change, all you have to do is have a starting point and go for it

(9:22) - Once you're on the web, you're a global company, anybody can find you

(9:57) - Without the subs, You can't get the job done, and we don't want them going out of business

(10:39) - Construction is, as industries go, is probably one of the best to be in because even with AI, even with things like when you are still building things, You might have to innovate. But, we're always gonna be building things. We're always gonna be renovating things

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 on July 2022.

Simplified Client Attraction Strategies for the inexperienced and busy!😎 Listen here!

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:

(2:37) - Let me introduce you to the concept of cornerstone content

(3:31) - What did this to them was it made everyone go, well, they're the best straight away. They're the company that does that. They're the best company for what we need

(7:17) - You basically split your business up into two little businesses. Front-end business is this business that is gonna be training people. It's gonna be making you look like an expert

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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Insider Insights! Understand why Construction Companies fail and learn from their mistakes! Here’s Part 1 of my interview with David Corson of the Commercial Construction Coffee Talk.🔊

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:

(5:52) - Problem is, subcontractors don't have the expertise. They don't have the time to review the contracts, and so they end up just signing them as is, or just signing in, like not really understanding what they're getting into

(6:07) - The construction industry has the highest insolvency rate out of any industry. So 26% of all insolvencies come from the construction industry

(7:56) - The problem here in the States, is there's not enough labor

(9:46) - There was a labor shortage. People just didn't wanna work or you couldn't find a project manager. You couldn't find superintendents, you couldn't find estimators

(11:08) - You guys will borrow money to invest in education with the intention of getting a return on your investment down the line

(19:37) - Building things and you know that just at the end of the day, just like at the end of the game, if you know that, even if you lost, you learn a lot from losing, believe it or not

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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Covering aspects from scheduling to effective communication and problem-solving, this video episode is your guide to becoming an excellent Project Manager. Tune in to elevate your skills! 🏗️🎧

For more Construction Secrets videos, subscribe to our 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:

(2:01) - Experience does matter a lot particularly in construction because there are so many of the same things that happen over and over and over again

(4:21) - Logic, evidence, and utility

(6:11) - Internally in your own business you got to manage your bosses

(6:31) - Communication needs to be high. More communication that you give, the better because they’re more up-to-date

(8:19) - You want to lead with reward and not punishment

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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In this Part 2 of my interview with Andrew Denny in the Couture & Construction Podcast, we talk about the Construction Dispute Strategy, what Squeaky Bum Time means, and the 3 Company-enders that you should NEVER agree to! Find out here!🔊

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:

(2:53) - If you’re in a dispute, it’s a race to see which party loses the least amount of money and also attention and time

(4:23) - What are three company-enders that one should never agree to

(8:33) - With the consequential loss, you want to say no we don’t agree to consequential loss or loss of profit as a company in general

(12:21) - But the thing about risk is, risk is silent. You don’t feel it. Success is the thing not happening. It’s like insurance. The thing not happening is the win

(18:42) - What is there for clients? How do better construction contracts help the client?

(19:40) - You need to be sure it’s less about price and it’s more about can this company actually finish the job

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 on July 2022.

Believe it or not, there’s a reason why LESS is MORE even in Construction. Why? Listen here!🔊

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:

(1:32) - The most dangerous thing at the moment is taking on more work

(2:52) - The bigger tier one construction companies are actually just one big finance company

(4:06) - The ability to be able to actually get the people and the ability to get enough materials to be able to deliver what you're being asked to deliver is high, which means your risk is pretty high

(5:12) - The companies that do the best are more concerned about the downside rather than a huge upside

(5:26) - The key to a construction company really is, is longevity

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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Winning with 'NO': Explore the fascinating world of rejecting opportunities in construction to secure better outcomes. Learn why sometimes 'NO' is the ultimate 'YES' to your Construction Business goals!✅💡Here’s Part 1 of my interview with Andrew Denny of the Couture & Construction 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:

(3:43) - 26% of all bankruptcies are from the Construction Industry. Where does that stat come from and what’s going on?

(4:39) - Construction had the highest insolvency rate at any industry

(5:22) - Typically GCs don’t do any work at all

(5:30) - As you move down that contractual chain the contracts get more and more aggressive

(11:00) - But the reality is the subcontractors need to get more educated

(11:41) - The getting paid for it part is all about contracts

(16:10) - How can I move away from being a commodity into being an offer that is just me?

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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Looking to take your construction business from nothing to everything? Learn about the practical tips for turning your startup into a thriving construction company.💡

For more Construction Secrets videos, subscribe to our 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:

(3:15) - It’s not how hard you row, it’s what type of boat you’re in

(3:25) - What type of construction company are you going to have?

(3:29) - What is your business money model? How are you going to charge for work?

(4:41) - As a company, you’re only worth what was like your goodwill, and what projects you have in the pipeline

(6:02) - Which of the subcontracting businesses have the highest margin?

(7:31) - The worst possible business model you could have is I’ll do all this stuff for free for a period of time. It can be 30, 60, 90, or 120 days and then you pay me after

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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Unlocking Construction's AI Potential🔓 Explore how AI is reshaping the construction landscape, optimizing workflows, and increasing efficiency in this Part 2 of my interview with Adrian Smith. Listen here!👂

You can visit the following links to connect with Adrian Smith and his AI tool:

- Adrian Smith's LinkedIn

- RunGopher.ai

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:

(2:28) - How could your average person in a construction business… How would they start using not just ChatGPT but AI generally? How would they approach in their businesses?

(3:56) - Write down the repetitive tasks and then go Google or go into ChatGPT whatever it might be. What tools are available enter repetitive tasks

(4:48) - The research says and research predicts that 8 billion dollars is gonna be invested into the sector up until 2031 for AI specifically in the construction building industry

(7:03) - The trend now is that people are trying to decipher what is here to stay and what’s actually gonna fail

(8:04) - The next stage is actually how do we apply this to our business

(14:51) - A lot of the problems that you’re already solving you’re solving by hiring more people. You might not have to do that anymore basically

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 on July 2022.

The key to construction project success: Stay dedicated, finish strong, and never abandon the job halfway.👊

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:

(2:03) - Whatever has happened on a project, if you walk off the job, you’re going to default on your contract. So, you’re gonna default on your obligation to perform the work

(2:56) - You can’t walk off the job. You need to do what the contract says and set yourself up with the series of events so that you can walk off the job

(5:28) - Your contract is your friend. Comply with the contract. Build a story, build a body of evidence as you're going through the project

(5:37) - Submit notice of delays. Submit even if you’re not claiming for anything

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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