Feb 14 2025 49 mins
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Every construction project starts with a contract—but not all contracts are created equal. If you overlook critical details or skip negotiation, you could face unexpected liabilities, payment delays, and disputes that stall progress. Poor contract management can lead to financial setbacks, strained relationships, and missed opportunities for future projects.
So, how can you identify risks before signing?
What strategies help you negotiate fair terms?
And how can you protect your interests while keeping projects on track?
My guest today is Megan Shapiro. She is a Risk Management Strategist, Construction Attorney & Founder of Construction Contract Coach. After litigating construction disputes for nearly 15 years, Megan is now taking everything she's learned and teaching construction leaders how to Do It Like A Lawyer.
Through her workshops and coaching programs, Megan offers actionable strategies for negotiation, persuasion, contract review, and strategic communication. Drawing on her years of representing subcontractors, owners, GCs, and everything in between, she empowers construction leaders to win more projects, eliminate claims, and maximize profits—all while reducing risk and helping leaders adopt a lawyer’s mindset to succeed in business.
We discuss: (timestamps)
03:03 Contracts for construction and remodeling businesses
05:37 Key points for general contractors and subcontractors
08:36 Indemnity explained in simple terms
11:43 Managing contract defense costs
13:10 Remedies for breach of contract
14:32 Subcontractor liability for issues like water leaks
16:53 Risks in prime contracts for general contractors
17:16 When to consult your broker on contracts
21:37 Fixing non-compliant contracts in ongoing projects
22:51 Working with brokers on problematic contracts
23:59 Reasons insurance claims get denied
28:16 Negotiating contract terms as a subcontractor
31:04 Examples of subcontractors negotiating better terms
33:57 Defining late provisions and liquidated damages
35:31 Reducing contract risks for subcontractors
37:34 Preventing problems from poorly managed contracts
40:53 Addressing supply chain and labor shortage risks
42:20 Options for subcontractors in bad contracts
43:44 Actionable steps to take to improve your contracts
Resources:
Megan Shapiro, Risk Management Strategist, Construction Attorney & Founder, Construction Contract Coach
LinkedIn:
https://www.linkedin.com/in/constructioncontractcoach/
Free Negotiation Style Quiz:
https://meganshapiro.ck.page/81045b49f1
Free resources on Megan’s Website:
https://meganshapiro.com/free-resources
Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/
Blog post | Industry Deep Dive - Construction: Practical Strategies for Managing Construction Contracts
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