How well do I wanna sleep

By Mesh on February, 14 2024
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How well do I wanna sleep
Mesh
Mesh

Hear from Jeff Stone, Partner, Diamond ConstructionTo quantify the return on  investment, I first asked myself, how well do I wanna sleepAs a business owner and a person who goes through the ups and downs of recessions and surpluses, sleeping is a very important part of that business.  When you look at return on investment on that emotionally itself, this is a no-brainer

So I’m a second generation, general contractor.  My dad started our business 38 years ago.  And I’m also in construction and worked in the construction defect and litigation space as an attorney and I’m a real estate broker.  So we own our vertical between, all the way from acquisitions all the way through general construction.  And I’ve been working in the space personally since I was about 15 years old in different capacities and currently run multiple businesses in both the construction and the development space.  The potential liability is truly endless.  And, where I say that is if you sign a million-dollar general construction contract with a general contractor, and that general contractor doesn’t have a license and general liability or workman’s comp insurance and an accident occurs on their site.  What would happen is the homeowner would ultimately be sued as well as the general contractor for not doing their proper due diligence to make sure that anyone that was working on the site is properly insured and licensed.  The potential liability for a general contractor, hiring an unlicensed or a lapsed or lapsed insurance subcontractor is very real

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General contractors that are working with multiple subcontractors can sometimes take their eye off the ball.  And because the relationship has gone so far that they haven’t made sure that that person is still carrying the same license or the same insurance.  What could happen in that case is that the general contractor's general liability or work comp insurance might not be over, it might step in, in that case that one of their subcontractors performed work as an unlicensed contractor, because there’ll be some sort of exception into their own policy.  What that means is, that's personal liability to that individual depending on their, on their corporate structure.  To quantify the return on investment, I first asked myself, how well do I wanna sleepAs a business owner and a person who goes through the ups and downs of recessions and surpluses, sleeping is a very important part of that business.  When you look at the return on investment on that emotionally itself, this is a no-brainer.  And you layer in the cost of labor.  I live in the East Bay area of the San Francisco Bay, where labor is very expensive, where office staff can cost us upwards of $120,000 to $150,000 a person, the time that they would spend versus automating this approach and verifying it with them, not with a person in an office probably more likely to make a mistake in this element.  The return on investment from a financial standpoint makes all the sense in the world. Yeah.  As a business owner and a person who’s worked in the construction industry for 20 years from a legal development and construction background, I couldn’t be more excited about what Mesh is providing and where their outlook can go.  It’s the first tick and the thinking and the business leadership that is approaching this problem that will better and, more safely put homeowners, general contractors, and subcontractors in a position where they know they’re standing.  I couldn't be more appreciative and excited for the future of this business and where it goes.

 

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