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The Subbies' Toolbox Podcast
The Subbies' Toolbox Podcast episodes
- Episode 56 - Neapolitan Ice Cream Theory
Ever thought about mixing friends, family, and business? If so, you might want to reconsider! Today we dive into what I like to call: "The Neapolitan Ice Cream Theory".
In this episode of the Tricks of your Trade Podcast, we unpack why “love jobs” can be the riskiest ventures for your business with the least reward. Discover how mixing family, friends, and business can lead to a whole lot of mess and learn the golden rule: never break the Neapolitan ice cream theory!
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
12 min - Episode 55 - "Better to have a gun and not need it..."
Have you ever heard the phrase, "It's better to have a gun and not need it than to need it and not have it"?
In this episode, I’m diving into how builders’ lawyers love throwing that around in contract negotiations— and why it’s not exactly great for building strong partnerships. I share some tricks for flipping the script, building better relationships on the job, and ultimately leading to better outcomes for both subbies and builders.
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
12 min - Episode 54 - the mathematical likelihood things go south
There is actually a mathematical equation that can be done to work out the likelihood you'll fall into dispute with your builder, based on the number of transactions you enter into and the number of other parties involved in the transaction. In this episode, I drill into what you can and can't control, and why you should care about the maths.
You can watch this Episode on the Youtube channel for video.
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
20 min - Episode 53 - Advantages of an in house contract review
In this episode, I discuss the benefits of reviewing your own contracts internally before seeking legal advice. I explain how understanding your trade and operations can help identify risks better than a lawyer alone.
Key takeaways include reading contracts like drawings, using a checklist tailored to your needs, and asking lawyers targeted questions.
Episode Highlights:- Read contracts by separating clauses instead of reading front to back
- Create a contract review checklist specific to your trade and risks
- Review contracts yourself first to understand operational impacts
- Provide lawyers context on your trade and ask targeted questions
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
20 min - Episode 52 - Good and bad things builders did before going broke
In this episode, we're observing things builders have done both positively and negatively when struggling financially or going into liquidation.
Episode highlights include: -- Going public with financial struggles can trigger preference payment scrutiny
- Bogus charges/liquidated damages impact subbie insurance coverage
- Dragging out non-payment strings subs along without work or pay
- Play it straight with certifying payment schedules and equipment access
- Well-documented variations protect subbie claims with principals
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
34 min - Episode 51 - Margin give back on negative variations
In this episode, I'm discussing the importance of understanding how negative variations are treated in your subcontracting agreements.
Many tradespeople are unaware that accepting large deletions of scope can eat into their profit margins if the contract allows builders to recoup money on cancelled work.
I'm also sharing real world examples and guidance on evaluating your contracts to avoid unexpected margin givebacks.
Episode takeaways:- Check your contract to understand how negative variations and credit calculations impact your profit
- Price each scope item to stand alone to avoid losing profitable work
- Factor in all your business overheads when negotiating your margin percentage
- Consult your accountant to determine your true overhead costs and margin needs
- Don't sign any contract without reviewing the negative variation and credit clauses
For more legal tips and expertise, visit https://www.tricksofyourtrade.com.au/
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
13 min - Episode 50 Pros and cons of bank guarantees
Today, I want to shed light on the world of bank guarantees.
They may seem like a cash flow saviour, but do they come with hidden risks? Join me as I explore the pros, cons, and the unexpected pitfalls of using bank guarantees in your trade contracts.
Whether you're a builder or a subcontractor, this episode will help you make informed decisions about your financial security.
Episode Takeaways:- Bank guarantees can be tempting for improving cash flow, but they come with risks.
- Bank guarantees can't be adjudicated; you may have to go to court to retrieve them.
- If your builder withholds cash and holds a bank guarantee, you can still lose money.
- Using bank guarantees means you must provide them upfront, while cash retention can be withheld later.
- Bank guarantees for unfixed goods may expose you to more risk than you realise.
- Understand the insurance implications and contract clauses when dealing with unfixed goods.
- Be cautious when accepting deposits in large sums near the end of the financial year.
- Don't be easily swayed by builders offering deposits; consider the fine print and potential ulterior motives.
- Always assess the cost of retrieving a bank guarantee, especially if they are for less than $25,000.
- If you have the assets and the subcontractor agrees, using bank guarantees for retention can be a viable option.
- When offered bank guarantees for reasons other than retention, scrutinize the terms, timing, and conditions carefully.
- Reach out for expert advice to make well-informed decisions about bank guarantees and contract administration.
Remember, your financial security is paramount in your trade business, so make educated choices when it comes to bank guarantees. Stay tuned for more insightful episodes on the "Tricks of Your Trade" podcast!
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
21 min - Episode 49 - How to change your builder's contract without starting a war
Welcome to the Tricks of Your Trade podcast, where we delve into the ins and outs of the trade business world to help you navigate it successfully. Today, I want to revisit the crucial topic of negotiating contracts with builders, a subject that's vital for all you LLC subbies out there. With the surge in contract signings, it's more important than ever to ensure you're getting the terms you need without jeopardising your working relationships. In this episode, I'll share my insights on making contract negotiations a win-win experience.
Episode Takeaways:
Know What You Need: Before entering contract negotiations, have a clear understanding of what terms and conditions are essential for your job. This includes hourly rates, variations, margins, and more. Don't leave room for ambiguity.
Preserve the Person: Maintain a positive relationship with your builder during negotiations by offering them some wins. Don't get stuck on minor issues; instead, focus on key points that matter to both parties. Remember, it's about finding a balance that benefits everyone.
Strategic Departure Scheduling: Organise your departure schedule logically, grouping related clauses together. This not only streamlines the negotiation process but also allows you to make trade-offs effectively. By addressing issues as a package, you can achieve a more favourable overall contract.
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
34 min - Episode 48 - Using Logic-Based Assurances in Negotiation
In this episode, let's dive into a crucial topic: harnessing logic-based assurances to transform your builder's contract without igniting conflicts. With my experience as a construction adjudicator, lawyer, and director of Tricks of Your Trade, I'll guide you through effective negotiation strategies including:
- Exploring the delicate art of changing builder's contracts amid industry uncertainties.
- Unveiling the potency of logic and industry standards in securing contract changes while nurturing relationships.
- Embracing practical reasoning and common sense to foster productive discussions free from legal jargon.
- Mastering the art of demonstrating impossibility or misalignment with your trade's needs for reasonable changes.
- Elevating negotiations through collaborative approaches that build trust and value for both parties.
- Focusing on crafting relevant contracts that proactively address potential challenges.
- Teasing upcoming episodes that delve deeper into advanced negotiation tactics.
Exciting news: "Negotiation School" is set to launch, offering invaluable skills for 2023. Secure your spot on the waitlist at www.tricksofyourtrade.com.au.
Join me in the quest to master negotiation, bridge gaps, and achieve triumphant outcomes in the dynamic construction industry.-----------------------------------------------------------------------------------
Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
19 min - Episode 47 - What your average Contract Sum tells you about your risk profile
Today, we're going to delve into the intriguing world of subcontracting within the Australian construction industry. Specifically, we'll be exploring how the contract sum can reveal important insights about your risk profile as a subcontractor. Join me as we unravel the mysteries behind contract sums and gain a deeper understanding of how they can impact your risk profile as a subcontractor. Whether you're a small and nimble subcontractor or operating in the big leagues of multi-million dollar projects, this episode has something valuable in store for you.
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Download Michelle's Freebies!
- 10 Changes to Make to Your Builders Contract; A Guide For Subcontractors
Explore ways to get more of Michelle in your world
- Book a Free Scoping Call with Michelle
- Want to negotiate better contract terms? Explore Negotiation School (4 Week Course)
- Tired of builders pushing you around? Arm yourself with the Subbies Toolbox
Get Your fix on Social Media
- Follow Michelle on Linked In - https://www.linkedin.com/in/michellecirson/
- Follow Michelle on Instagram - https://www.instagram.com/tricksofyourtrade
Follow Michelle on Facebook - https://www.facebook.com/tricksofyourtradeShare the love
- If you like what you’re hearing on The Tricks of Your Trade Podcast, support the show by taking a few seconds to leave a rating and/or comment on ApplePodcast, or Spotify Thanks!
23 min
About The Subbies' Toolbox Podcast
From the publisher's feed
The Subbies Toolbox Podcast is for Australian commercial subcontractors who want to understand the real rules of construction and stop being worn down by outdated systems and one-sided contracts.
Hosted by Michelle Cirson, a construction lawyer, adjudicator and former builder contracts administrator, this podcast calls out industry norms that no longer make sense and explains how subcontractors can navigate them with clarity and confidence. Michelle explores topics like contract risk, power imbalances, commercial leverage and smarter ways to work within the system while pushing for better outcomes across the industry.
Season 2 marks the evolution of the podcast from Tricks of Your Trade into The Subbies Toolbox, with a sharper focus on education, systems, and advocacy that help subcontractors stay out of disputes and in control of their businesses.
New episodes are released weekly.
www.subbiestoolbox.com.au