Finance

Contracts for Contractors with Nisreen Hasib – [The Tim Faller Show] S4 E19

April 3, 2023 Finance 00:44:22

Today on the Tim Faller Show, Nisreen Hasib joins the show to discuss contracts for contractors. Nisreen discusses the importance of having contracts and some of the important items to put into those contracts.  She also gives examples of some bad and good contracts that she has seen over the years and how they impacted the project. Nisreen also talks about revisiting contracts to stay up to date with state and national regulations.

Nisreen Hasib is the founder and CEO of Basil. Basil makes it easy for builders, remodelers, and general contractors to generate the documents they need at the click of a button. She is based out of New York. Prior to starting Basil, Nisreen was a labor and employment attorney and an executive at different venture backed companies based in New York. Nisreen started Basil in 2022, after finishing her first remodeling project in the Catskills. She saw that a lot of contractors were using out of date contracts, or contracts that had not been appropriately drafted, leaving them vulnerable to legal liability.

Nisreen, Tim, and Steve talk more about…

  • Do the contracts get more complex the more expensive the project is?
  • Reframing contracts
  • And more…

Ep.177: The Secret to Successful Bonuses and Incentives with Eddie Casanave

January 10, 2022 Finance, Management, Production 00:36:47

This is PART 2 of a 4-part series focused on Bonuses and Incentives. 

Eddie Casanave, Owner of Distinctive Remodeling in Raleigh, NC joins Tim and Steve to talk about the bonus and incentive program he and his team use.

In business 1987, Eddie has seen and tried many different bonus plans, and they seemed to all have limited life.

The current plan he uses seems to have the elements to make it long lasting.

Tim, Steve and Eddie talk more about:

  • Financial bonuses vs. incentives
  • The origin of the bonus program and how has it developed over time
  • Which part makes it appealing to their team
  • Customer Satisfaction issues
  • And More


4-Part Series on Bonuses and Incentives:

Ep.176: Bonuses and Incentives with Andrew Kerr

December 20, 2021 Finance, Management, Operations, The Tim Faller Show 00:31:59

This is PART 1 of a 4-part series focused on Bonuses and Incentives. 

Financial incentives and bonuses are often how many companies attract and retain great talent.  Guest Andrew Kerr of Landis Construction is here to share how bonus structures can potentially lead to increased motivation and involvement within a company.

Andrew has been with Landis since 2001, and as their COO he now oversees the company’s architecture, estimating, construction, and process management departments.  Prior to joining the company, Andrew held a position as a PM at Centex Homes, managing construction for new homes, and also worked at the White House for the National Security Council.

Tim, Steve and Andrew talk more about:

  • Unfulfilled bonus promises
  • Bonus structures and customer satisfaction
  • Financial bonuses vs. incentives
  • And more…


4-Part Series on Bonuses and Incentives:

Get Your Production Team Focused on Profit!

Keep your production team sharp and focused on profit throughout the new year with our weekly Production Team Training Masterclass, starting up on January 10th.

Instructor Tim Faller covers 6 hot topics that have proven to be game-changers for companies all over the country and will definitely raise the bar in your world.

This course is geared to your production staff and at the end of each session, Tim will assign homework that the team can use to reinforce the topic and implement the new ideas.

More Information + Registration
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Ep.106: Running a Debt-free Company with Wally Staples

June 8, 2020 Finance, Hiring, Management, Operations, The Tim Faller Show 00:42:13

We usually focus on production issues like getting good help, working with trade contractors, change orders, etc. In this episode, we change things up and tackle a more general business topic, running debt-free.

We are fortunate enough to have a returning guest join us for this discussion. Wally Staples was on Episode 72, talking about how he recruits employees. For this episode, however, Wally goes into detail about how he has established and run his company, Wally J Staples Builders, as a debt-free business.

Wally started his company in 1993 and worked in the field building new homes and completing renovations until 2001, when he then focused on growing and making the company better. Wally J Staples Builders has some employees that have been with the company for 10-20 years and has never laid anyone off in 25 + years for lack of work, one of the main benefits to running a debt-free company.

Tim, Steve and Wally start with how and why he established his business this way and went on cover more topics:

  • How and why he established his company this way
  • Clarification on what he considers a debt-free scenario
  • Benefits of the cash environment
  • Involving your team in the process
  • How an existing business transforms to debt-free

Tim wraps up the episode with his thoughts and experience in working with debt-free businesses, including his own, over the past 20+ years.