Construction Secrets

In the world of construction, time is of the essence, and delays can have serious financial implications. Here's a podcast that can help you be aware of the dangers of time bars. 

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:

(0:51) - Construction subcontractors are the guys that do all the construction in the world

(2:55) - Time bars are crucial, they're critical

(4:22) - They want that information so they can accurately predict what's going to happen over the next few months

(6:07) - In a construction project, they divide it into four quarters

(7:56) - Whatever you need to do to comply with the time bars you need to get it happening in your business

(8:39) - Start submitting notices of delay where there's no cost or time impact

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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Here's a podcast that will help you understand the ins and outs of termination in Construction Contracts

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:

(1:33) - You can get a drawing from an architect or an engineer and you can interpret that drawing very very well

(3:21) - When you're playing decisions out in your head maybe the worst thing isn't that bad

(6:17) - If termination for convenience is in there you want to make sure that you're getting paid the right amount of money

(7:00) - The one thing that is actually a problem is a lot of these contracts won't have any way for you to terminate, for you to get out of the contract

(8:14) - Should I be spending money on people and equipment I'm leasing when they might not pay me next month?

(9:49) - Go to the termination clause, look at the termination for convenience if it's a concern for you

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

How will you deal when you encounter this kind of shenanigans while doing your construction business with clients?

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:

(1:30) - But for me, when it gets hot it's hard for me

(2:46) - Here's the contract I want you to sign, you can look at the contract and get back to me

(4:05) - You'll have all your liquidated damages in your contract but the head contract ones may prevail

(5:23) - You can never say to someone I'm not gonna pay you because I haven't been paid

(6:37) - Check to see if there's a head provision contract in there

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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As a construction subcontractor, you know that building relationships and trust with general contractors is crucial for winning bids and getting repeat business. But how can you effectively market your services without breaking the bank?

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:

(1:35) - The marketing approach that they typically take is very traditional, some don't market at all

(3:19) - The main thing that you need to do over a long period of time is producing a piece of cornerstone content

(5:09) - On your website, you need to have what is called a pixel

(7:18) - It is no longer social media, it is now just media

(8:37) - Now it's not about the people, it's about the interests

(11:18) - It's more branding than direct response marketing

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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Tendering can be one of those processes where we feel like we're going around in circles. Here's why it's often a vicious cycle.

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:

(1:13) - What is the vicious cycle of tendering or how do you get yourself into a vicious cycle?

(2:32) - You were asked to be part of a bid or a tender

(4:14) - That's how mistakes happen, obviously, these guys made a mistake as well

(6:01) - You want to have a different acquisition channel other than bidding or tendering for work

(6:56) - The virtuous cycle is you win a project with a high margin

(8:18) - The biggest and best construction companies will win bids at a loss but they know that they can make it up in the post-award phase

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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Find inspiration from people and businesses that are successful... Here are two business strategies that have proven to be successful.

From laying the groundwork to reaching new heights, this formula for construction company growth is the key to building a brighter future.

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) - It has made no tangible difference to anything that we do except allow us to make more revenue

(2:50) - A lot of them are working for family wealth, venture capital companies, or investment companies

(5:03) - In the meantime, its top-line revenue only

(6:18) - It's not doing more complex things, it's doing the simple things that are already given you results

(8:00) - Our sales didn't change but the value of our sales went up massively

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 May 2022

From laying the groundwork to reaching new heights, this formula for construction company growth is the key to building a brighter future.

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:

(0:53) - The formula for construction company growth

(1:39) - The company that knew what they were doing contractually and also delivering on projects, did fine

(2:41) - They got hit with all these liquidated damages

(3:20) - Delivering on-site and delivering contractually is just as important

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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It's great to do a good job, but there is something else that will ensure you stay in business. Watch and learn from this video 💯

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:

(1:51) - There are so many construction companies that have gone out of business

(3:04) - Delivering on your promise is one of four different departments that should be in your business

(5:38) - The real purpose of delivering your service is to deliver a world-class experience

(6:55) - From your projects, you're stimulating referrals and repeated work

(8:41) - The difference between the vicious cycle and the virtuous cycle

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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If you can avoid doing this then you'll save yourself a lot of headaches.

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:

(1:28) - You can analyze drawings, you can interpret construction drawings

(2:17) - If you agree to this particular clause, how does this impact your risk?

(5:07) - People think relationships are the most important thing

(7:05) - They'll open up the unpriced submission first to make sure that you are able actually to do the work

(9:14) - Can you do the work? Are you commercially savvy enough to handle all of this?

(11:00) - The whole project ran to a halt because of these snails

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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You may think that a contract is just a piece of paper, but the reality is that it can SAVE you a lot of money.

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:

(1:31) - Risk is a little bit different in what a win looks like

(3:34) - The perception of risk changes a lot but the actual risk doesn't change

(6:08) - The road to less stupid is doing less stupid things, making fewer downsides

(8:02) - As a construction person you can analyze and interpret construction drawings

(9:38) - That's why signing a better contract is better for you

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! ⤵️

Facebook | LinkedIn | YouTube | Instagram | TikTok | Twitter