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Contenuto fornito da Benali, Khalil Benalioulhaj, and Martin Holland. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Benali, Khalil Benalioulhaj, and Martin Holland o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
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91 - Protecting What You Build with Eric Daffern

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Manage episode 302479171 series 2954305
Contenuto fornito da Benali, Khalil Benalioulhaj, and Martin Holland. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Benali, Khalil Benalioulhaj, and Martin Holland o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
  • Who is Eric Daffern? Why did he go into law? (1:50)
  • There are two main risks in real estate and contracting: the risk of getting sued, and the risk of not getting paid. (5:30)
  • Story of the Show — The perfect construction contract and project suddenly went wrong because of the pandemic. (12:20)
  • Why are systems so essential for contractors? (14:15)
  • Why don’t more contractors have relationships with an attorney? (17:20)
  • 99% of the time, everything’s gonna work out. How do you protect against that 1% where the bottom falls out? (20:27)
  • What’s the most important tool you can use to make sure you get paid and stay out of court? (22:00)
  • What’s a contract system? (22:40)
  • What’s a contract addendum, and how does it give subcontractors power in a negotiation? (24:40)
  • How do large GCs react to subs trying to negotiate? Do subcontractors even stand a chance against them? (27:30)
  • Do you need to pay an attorney to review every contract? (30:20)
  • What are some other systems contractors need? (33:15)
  • Can you still do work on a handshake? (35:50)
  • Systems add value ($$$) to your business. (40:00)
  • Mechanic lien systems — Don’t ignore your superpower! (40:45)
  • Why do you need HR systems? (46:30)
  • Your team can work closely together to make sure that your business is protected. (48:10)
  • How can early incident management systems protect you and your employees? (49:10)
  • How can you be a good consumer and choose the right attorney? (55:00)
  • Mount Rushmore — Lawyer Jokes edition (59:40) Listen to see which joke was Eric’s favorite!
  • Quote of the day — “Knowledge is power.” (1:02:40)
  • Something you can actually go do (1:06:10)
  • Closing the story — Remember that this was the PERFECT job. Everything went right, until the last payment. Luckily, we had already worked with the client to create a mechanic lien system. Unfortunately, we had to file a mechanic lien, but my client was able to get paid and still maintain a good relationship with his client. (1:09:50)
  • Intern Insights with Ethan — Can Ethan sum up in 60 seconds or less what it took the other guys over an hour to explain? (1:13:14)

Quotable Moments

  • “The earlier you find a problem, the cheaper the resolution is.” — M
  • “If you will focus on a team around you and invest in your team, then you can have that team help you make money as well. There’s no difference between having a screwdriver, a hammer, or whatever in your craft, and having a lawyer, an accountant, and a banker on the business side of it.” — Eric
  • “The number one reason people leave an employment position is unclear expectations ... Systems define the expectations against which people are measured so you can go and do those things.” — M
  • “You’re not going to be the expert in everything. You have to hire and trust other people. It’s going to make you better.” — K
  • “You have the choice of doing nothing or the choice of doing something.” — Eric

Mount Rushmore

  • Listen to our best lawyer jokes at 59:40!

Resources

More from Martin

More from Khalil

More from The Cashflow Contractor

  continue reading

202 episodi

Artwork
iconCondividi
 
Manage episode 302479171 series 2954305
Contenuto fornito da Benali, Khalil Benalioulhaj, and Martin Holland. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Benali, Khalil Benalioulhaj, and Martin Holland o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
  • Who is Eric Daffern? Why did he go into law? (1:50)
  • There are two main risks in real estate and contracting: the risk of getting sued, and the risk of not getting paid. (5:30)
  • Story of the Show — The perfect construction contract and project suddenly went wrong because of the pandemic. (12:20)
  • Why are systems so essential for contractors? (14:15)
  • Why don’t more contractors have relationships with an attorney? (17:20)
  • 99% of the time, everything’s gonna work out. How do you protect against that 1% where the bottom falls out? (20:27)
  • What’s the most important tool you can use to make sure you get paid and stay out of court? (22:00)
  • What’s a contract system? (22:40)
  • What’s a contract addendum, and how does it give subcontractors power in a negotiation? (24:40)
  • How do large GCs react to subs trying to negotiate? Do subcontractors even stand a chance against them? (27:30)
  • Do you need to pay an attorney to review every contract? (30:20)
  • What are some other systems contractors need? (33:15)
  • Can you still do work on a handshake? (35:50)
  • Systems add value ($$$) to your business. (40:00)
  • Mechanic lien systems — Don’t ignore your superpower! (40:45)
  • Why do you need HR systems? (46:30)
  • Your team can work closely together to make sure that your business is protected. (48:10)
  • How can early incident management systems protect you and your employees? (49:10)
  • How can you be a good consumer and choose the right attorney? (55:00)
  • Mount Rushmore — Lawyer Jokes edition (59:40) Listen to see which joke was Eric’s favorite!
  • Quote of the day — “Knowledge is power.” (1:02:40)
  • Something you can actually go do (1:06:10)
  • Closing the story — Remember that this was the PERFECT job. Everything went right, until the last payment. Luckily, we had already worked with the client to create a mechanic lien system. Unfortunately, we had to file a mechanic lien, but my client was able to get paid and still maintain a good relationship with his client. (1:09:50)
  • Intern Insights with Ethan — Can Ethan sum up in 60 seconds or less what it took the other guys over an hour to explain? (1:13:14)

Quotable Moments

  • “The earlier you find a problem, the cheaper the resolution is.” — M
  • “If you will focus on a team around you and invest in your team, then you can have that team help you make money as well. There’s no difference between having a screwdriver, a hammer, or whatever in your craft, and having a lawyer, an accountant, and a banker on the business side of it.” — Eric
  • “The number one reason people leave an employment position is unclear expectations ... Systems define the expectations against which people are measured so you can go and do those things.” — M
  • “You’re not going to be the expert in everything. You have to hire and trust other people. It’s going to make you better.” — K
  • “You have the choice of doing nothing or the choice of doing something.” — Eric

Mount Rushmore

  • Listen to our best lawyer jokes at 59:40!

Resources

More from Martin

More from Khalil

More from The Cashflow Contractor

  continue reading

202 episodi

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