How Small Decisions Can Have Massive Consequences
The EntreLeadership Podcast
Navigating Payment Delays in Construction Projects
The chapter delves into the intricacies of dealing with payment delays from large general contractors and construction management companies, highlighting challenges faced by subcontractors in receiving timely payments. It emphasizes the importance of transparency in pay applications, discusses payment terms such as the 120-day payment term, and advises on managing relationships with clients to ensure prompt payment. The chapter also stresses the significance of setting clear terms upfront, taking deposits from customers, and making smart business decisions to mitigate risks of non-payment.
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