Construction Secrets

Discover in this episode the winning approach in Construction Disputes.😎 Here's Part 2 with Seth Tandett in the Concrete Logic 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:

(2:48) - Once you understand how to interpret that contract honestly, most of the risk and understanding the risks that you're taking on goes away and you understand how to make more money in post-award

(3:17) - We win projects at a loss knowing that we have the contractual experience in the post-award phase on change orders to get our margin back and to make money

(8:52) - The key learning from the disputes is it's pretty simple. It's a race to see who loses the least amount of money

(9:44) - The key to a construction dispute and I know this sounds a bit painfully obvious, is to not get into a construction dispute

(12:28) - It's a lot easier when you're trying to work with everybody versus fight

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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The way to success has a lot of risks. Part 1 of my interview with Seth Tandett of the Concrete Logic Podcast, we talk about key insights on Risk Navigation in Construction for Subcontractors.

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:

(5:28) - The worst contract in the whole chain goes to the guy that hasn't got the resources to deal with

(5:44) - That is probably the systemic issue in the construction industry where so many subcontractors actually don't understand how to negotiate and they don't understand what to negotiate either

(8:15) - Successful companies in construction have a long-term view

(12:18) - You got to look at your local laws as far as payment terms and things like that because you can leverage those laws on your behalf

(14:28) - Whatever you prefer to put up as security, you want to make sure it's tied to your own specific contract and not to the head 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.

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The secret to winning negotiations? Listen to this Part 2 of my chat with Paul Heming in 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:

(4:17) - If you want to be seen as professional and you want to be respected and have a good reputation, you don't get that from rolling over and doing what you're told nonstop

(9:59) - If you're contractual, you will be more profitable

(15:37) - Being contractual in inverted commas for the listener is not something that you shouldn't do. It's something that you should do because it completely and utterly protects you

(16:04) - No main contractor is going to come to you and start attacking you for being contractual if you're delivering on your promises

(20:04) - It's better to get a bad document in than waiting to get a perfect document because you can always revise about documents

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 June 2022

As a professional contractor, you've probably bargained contracts with general contractors and clients before. But did you know that skillful negotiations for construction contracts can actually help you win more projects?

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:

(00:31) - How their view of construction changes, the more mature they get

(00:56) - As you get, you know, bigger as an organization and you start to grow, you start negotiating your contracts, you start becoming better commercially

(3:44) - You need to prepare, you need to look professional

(6:10) - When you try and negotiate your contracts with your client, you're going to look more professional

(7:37) - You need to do it earlier as possible as part of the tender

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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How to handle delays and cost disputes and get on your way to success?

Here is Part 1 of my conversation with Paul Heming from 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:

(5:46) - It's about getting an outcome, getting paid, getting stuff approved

(11:18) - The transaction of money more and more is bound by the contracts and less by handshakes

(11:46) - Too often subcontractors get the short end of the stick, and that's largely because their resource is not the resource of whoever they go after

(18:54) - The first thing in catching that fundamental problem is going into the contract and negotiating that out and saying, no, no, we're not doing that

(19:47) - When I'm talking about contract and I always say it's not just contractually it's about strategy

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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Time in business is a relentless force that can make or break your success. Here are tips on how to use it wisely.💡

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:

(4:45) - You want to know what the risks are that is very important to you

(4:57) - If you were to pay someone that day rate, what would you want them to be doing for you?

(5:16) - Your time is extremely valuable to you and your business

(5:33) - You are more valuable to the company

(5:37) - Time is very important particularly for a lot of construction leaders

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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Cash flow plays a crucial role in business. Here’s a genius hack on how to avoid late client payments.

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:

(2:48) - It's about the small things

(4:01) - You're due to be paid when you're due to be paid

(4:48) - Be on top of when you're not paid

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 May 2022.

Find out why construction offices KILL your business.

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) - If that wasn't there and would you actually be able to get more done?

(5:55) - Would you have nicer office space than you currently have?

(6:12) - Obviously you can increase your revenue, but the other side of the coin is obviously reducing your costs

(6:21) - Having external teams to do things are not your core focus

(6:33) - That's going to make a huge difference into making you a more flexible and durable construction company

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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AI Tools are now a big help not only in the digital industry but in the construction industry as well.

Here's part two of my informative podcast collaboration with The Building Talks Podcast with Martin Preece.⤵️

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:

(4:17) - It's a race to see who loses the least amount of money

(7:12) - The law is above the contract and the contract falls as part of that

(11:25) - Just control what you can control

(16:53) - Media is leverage

(18:39) - By using AI, you can deliver things quicker

(25:04) - If you can get that business to pay for itself, you're essentially getting relationships and leads for free

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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Effective communication with contractors is a crucial skill that construction companies need to acquire in order to establish better relationships. Here's Part 1 of my interview with The Building Talks Podcast with Martin Preece!

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:

(2:46) - I was seeing so many companies losing money and going out of business because they didn't understand the contract

(15:12) - Lowest price technically qualified doesn't mean you're going to have the lowest total cost of ownership

(16:28) - If you've got a reasonable margin, you can afford better people

(23:43) - The most successful ones tend to be family-run businesses like full-family businesses

(24:47) - Making a reasonable margin on a low-risk job is better than making a high margin in a high-risk job over time

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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