Tuesday, November 26, 2013

Lesson 4: Put things in black and white

We asked a few people to give us a quote regarding the construction and though we settled on the cheapest one, our mistake was that we didn't define everything before we finalized everything.

He looked at the proposal and the space and made an estimate and gave us a price. The price sounded reasonable and we agreed to it. Problem cam mid-way through construction when there were some materials that needed to be bought or some person that needed to be paid. There were some proposals that were not on the original plan that were brought up.

To cut the long story short, we ended spending a little more than we planned to spend for construction which affected the rest of the budget.

If I would have to do it over again, I would define everything that needs to be done and I would declare that nothing should be done differently from what is agreed upon. Also, once the price is set, it should not be changed. Both parties have to agree and should abide.

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