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This episode is a re-run. It was originally published in June 2023.
Good subbies go out of business every day.
Not because they can't build. Because they didn't understand how much the contract mattered.
They figure if they do great work, the contract stuff sorts itself out. It doesn't. Paid late. Paid less. Change orders rejected. Made to look late on jobs that were never their fault.
The contractual game is being played whether you're playing it or not.
Learn to play it.
Timestamps:
(5:44) - In the last 5 to 10 years, standard contracts are few and far between
(6:09) - Cost plus is beneficial to the builder and it can be beneficial to the owner in a different circumstance
(9:56) - The concern is not the lowest price. The concern is I need to get that thing done and that's my number one priority
(10:54) - What costs a lot more money is the job not being done
(15:47) - You need to be looking at risk as a real factor in your business because eventually something will go wrong