Welcome back to LLC. I'm David Wintzer, your host, and today we're addressing a critical issue that could define the success or failure of your construction endeavors: underbidding a project. I'm here to share a cautionary tale from our own experience, a sobering $300,000 miscalculation. In this episode, we'll examine the gravity of acknowledging when you've fallen short, the delicate art of communicating with clients, and the crucial steps necessary for rectifying an underbid. This is more than just a conversation; it's an opportunity to absorb a pivotal lesson that may prevent a similar scenario in your business. We will delve into the importance of meticulous attention to detail in the bidding process and the discipline required to ensure accuracy. We appreciate your support, and if this episode resonates with you, please consider leaving us a review.

EPISODE NOTES

00:00 Documenting construction, business, and life lessons daily.

05:35 Admit fault to deescalate tough business situations.

08:38 Admit mistakes quickly to avoid further scrutiny.

11:17 Slow down, ask all right questions in bidding.

13:23 Learn from mistakes, ask right questions. Never repeat.

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