This episode is a re-run. It was originally published in April 2023.

Most construction companies don’t go broke because they can’t build. They go broke because of the contracts they sign.

Risk gets pushed down the chain, and the smaller the contractor, the harder the hit when things go wrong. Relationships and good work are no longer enough when the paperwork decides who gets paid and who absorbs the loss.

The companies that survive are the ones who get contractually sharp before the job even starts.

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Timestamps:

(1:14) - Don't transfer the title until you get paid!

(3:00) - How to pass on the risk to someone else.

(5:00) - Your project managers manage your project as a side hustle only.

(8:13) - What to do when you get into a dispute.

(11:00) - Advice on how to properly manage contracts

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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