TRUST YOUR GUT: Chapter Nine, Protect Your Contract from Price Hikes and Delays
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TRUST YOUR GUT: Chapter Nine, Protect Your Contract from Price Hikes and Delays
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This episode is a reading from Karalynn's latest book, Trust Your Gut.
Roofer Danny inks a sweet roof gig in 2019. Then the pandemic hits, pushes start to 2021 with 30% material spikes and zero crew available.
No escape clauses?
As he tries to save his business, the homeowner slaps him with a fifty thousand dollar lawsuit. And a default judgment tanks the business.
Don't be Danny!
Add provisions for price hikes, weather, labor crunches, sickness, outages, disasters; and use change orders to shift timelines and costs. Set hard expectations upfront, add an escape hatch. Bottom line: Protect your biz before surprises bury you!
Grab Karalynn's new book Trust Your Gut here.
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Key Takeaways
1. Include clauses for price increases and delays
2. Materials labor weather hit projects hard
3. Change orders adjust terms when needed
4. Homeowner pays extras beyond control
5. No provision means you lose money or business
Timestamped Overview
0:25 Chapter 9 starts
2:15 Danny walks away
4:32 Contract clause need
7:02 Price increases detail
9:27 Example contract language