TCF367: Get Yourself a Contract with Karalynn Cromeens

Contracts can make or break a business and you must not only have one, but also know what’s in it so you can protect yourself from lawsuits, litigation and lost revenue. Tom’s guest today is Karalynn Cromeens, owner and managing partner for the Cromeens Law Firm, creator of the Subcontractor Institute, and author of the new book Quit Getting Screwed. Listen in and learn how to play defense for your business by really understanding what’s in your contract so you don’t have to learn the hard way!   About Karalynn: The Subcontract Institute was created by Karalynn Cromeens, Owner & Managing Partner of The Cromeens Law Firm. In the sixteen years she has practiced construction, real estate, and business law, she has reviewed and explained thousands of subcontracts. For years, she has tried saving companies that have signed problematic subcontracts. Unfortunately, by the time they came to her it was too late; there was nothing she could do to help.  As hard as she fought, she could not get them out of the poisonous, one-sided subcontract they had signed. She hated seeing clients lose money- sometimes their entire business- over language they did not understand. Seeing these situations play out day after day was the driving force behind her book, Quit Getting Screwed, Understanding and Negotiating the Subcontract, and the creation of The Subcontractor Institute.    In this episode, we talk about… Different areas to negotiate as a subcontractor and contractor  Understanding the difference between scope vs. bid   Litigation is never a win for anybody—having something in writing is better than nothing Be clear and specific on your expectations, payment schedule, and know what’s in your contract Document everything to cover your ass! Don’t do any favors: Submit change requests and get paid for the work you do Why you shouldn’t sign a personal guarantee and how to recognize them in contracts Details about the Subcontractor Institute Remember there’s no set of rules to protect you once you sign a contract  Advice for how long your contract should be    Links to resources: Subcontractor Institute Cromeens Law Firm Quit Getting Screwed Book Quit Getting Screwed Podcast The $100k Contractor is designed to get you to at least $100k a year in personal income. It’s time we quit stealing from our families and get that time back! Learn how to market like a pro in our Marketing Boot Camp!  Schedule A Contractor Sales Academy Demo Order Your Fight Planner The Contractor Fight Facebook Group The Contractor Fight Night The Bridge The Contractor Fight TV The Contractor Sales Academy Podcast   Want to stop sucking the life out of your contracting business? Join the Contractor Sales Academy and take command of your entire sales process! CSA is a game-changer for your business. Read more at http://strongpreneur.libsyn.com/#vyWRWfcf0VRHIKyQ.99