Contractor Success Forum

Contractor Success Forum
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Tips and advice to run a successful construction business from two long-term industry professionals: Wade Carpenter, a construction CPA, and Stephen Brown, a construction bond agent. Each host has unique, but complementary views and advice from each of their 30+ years in the contracting industry. Their goal is to promote healthy, thought-provoking discussions and tips for running a better, more profitable, and successful company. Subscribe for new insights and discussion every week. Visit ContractorSuccessForum.com to view all episodes and find out more. 

  1. The Data Center Boom: Contractor Secrets to Navigating New Risks & Rewards

    4D AGO

    The Data Center Boom: Contractor Secrets to Navigating New Risks & Rewards

    Send a text 🔗 LINKS Email Stephen to get his Data Center Job Risk Checklist Visit the episode page for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Data center construction is exploding with $3 trillion in global investment by 2030. Wade and Stephen break down the massive opportunities and serious risks contractors face in this booming sector.  From specialized labor shortages to complex insurance requirements, liquidated damages, and equipment delays, learn what you need to know before bidding on these high-stakes projects that could make or break your business. ⌚️ Key moments in this episode: 00:00 Why Construction Feels Different: The Data Center Boom Is Here00:24 Meet the Hosts + The ‘Infrastructure Supercycle’ Numbers01:38 What Makes Data Centers So Complex (Water, Power, MEP Trades)04:28 Contract & Bonding Landmines: Risk Before, During, and After07:08 Real-World Claims & Warranty Exposure08:55 How to Manage the Risk: Teams, Communication, and Long Lead Times12:21 Where the Growth Is + Power, Safety, and Community Pushback15:50 Contractor Playbook: Insurance, Bonding, and a Practical Risk Checklist21:32 Wrap-Up + Get the Checklist (Contact Info)The Contractor Profit Blueprint is a complete guide that breaks down exactly how to identify where your money's going and start keeping more of it. This isn't theory. It's the same framework I use with contractors I work with every single day. Head to profitfirstconstruction.com/blueprint to download your free copy.  Stop working for free. Let's get you keeping what you've earned. Join the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    24 min
  2. From Confusion to Clarity: Unlocking the Power of WIP Reports

    FEB 17

    From Confusion to Clarity: Unlocking the Power of WIP Reports

    Send a text 🔗 LINKS Get the free guide: The Contractor’s Guide to Work in Progress Reports Email Stephen to get his WIP schedule Visit the episode page for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Stop the confusion between your accountant saying you owe taxes on invisible money and your bonding company cutting your credit line.  Wade Carpenter and Stephen Brown reveal how proper Work in Progress (WIP) reports transform your construction business from reactive to proactive.  Learn the essential components, avoid common mistakes, and discover why monthly WIP reports are your secret weapon for maximizing profitability, securing bonding capacity, and making smarter business decisions. ⌚️ Key moments in this episode: 00:00 Accountant vs. Bonding Company: Why Your Numbers Don’t Match00:22 What a WIP Report Really Tells Underwriters (and You)02:58 WIP Must Tie to Financials: Software Limits & Data Quality04:43 Core WIP Inputs: Contract, Costs, Billings, Change Orders & Retainage07:11 Percentage of Completion 101: Earned Revenue vs. Billed Cash09:31 Overbillings vs. Underbillings: Balance Sheet Impact & Bonding Red Flags13:09 Loss Jobs, GAAP Loss Recognition & Avoiding Underwriter Surprises15:21 Stored Materials, Near-Completion Issues & Other GAAP Gotchas17:21 Warning Signs on a WIP: Rising Costs, Missing Change Orders & Patterns21:46 Common WIP Mistakes: Miscoded Costs, Unrecorded Invoices & Stale Estimates24:13 Monthly WIP Best Practices + Checklists, Forms & How Often to Run It30:20 Wrap-Up: Resources & Contact InfoThe Contractor Profit Blueprint is a complete guide that breaks down exactly how to identify where your money's going and start keeping more of it. This isn't theory. It's the same framework I use with contractors I work with every single day. Head to profitfirstconstruction.com/blueprint to download your free copy.  Stop working for free. Let's get you keeping what you've earned. Join the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    33 min
  3. Why Bigger Isn't Always Better: The Truth About Job Margins

    FEB 10

    Why Bigger Isn't Always Better: The Truth About Job Margins

    Send a text 🔗 LINKS Get the free guide: How to Improve the Profitability of Your Construction Company Visit the episode page for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Discover why that big, high-margin job might actually hurt your bottom line. Wade and Stephen break down the throughput method, analyzing profit per week instead of just profit margins. Learn how to evaluate job decisions based on speed of profit generation, cash flow timing, and operational constraints.  Plus real case studies showing when overtime, equipment investment, and hiring coordination staff actually increase profitability despite higher costs. ⌚️ Key moments in this episode: 00:00 Introduction: Choosing the Right Job Path00:36 Recap of Previous Episodes01:39 Profit Improvement Potential03:23 Understanding Throughput08:38 Case Studies and Practical Examples20:15 Final Thoughts and ResourcesThe Contractor Profit Blueprint is a complete guide that breaks down exactly how to identify where your money's going and start keeping more of it. This isn't theory. It's the same framework I use with contractors I work with every single day. Head to profitfirstconstruction.com/blueprint to download your free copy.  Stop working for free. Let's get you keeping what you've earned. Join the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    24 min
  4. Contractor Wake-Up Call: What's Draining Your Revenue?

    FEB 3

    Contractor Wake-Up Call: What's Draining Your Revenue?

    Send a text 🔗 LINKS Visit the episode page at for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE You can't fix what you can't see. Most contractors know their overall margin but have no idea which parts of their business actually make money.  Wade Carpenter and Stephen Brown break apart the 'green smoothie' of blended P&L statements to reveal hidden profit pockets.  Through real case studies, discover how segmentation helped contractors work fewer hours while increasing profit by $80,000-$137,000.  Learn why your proudest projects might be killing your business and how to identify your true profit makers. ⌚️ Key moments in this episode: 00:00 Introduction to Profit Visibility in Construction01:13 Recap of Previous Episodes03:15 Case Study: Commercial vs Residential Profit Margins06:14 Case Study: Electrical Contractor's Profit Analysis09:59 Case Study: Mechanical Contractor's Profit Breakdown14:50 Case Study: Remodeling Group's Financial Insights21:33 Conclusion and Next StepsJoin the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    26 min
  5. The Secret to Contractor Success: The Simple Math That Boosts Your Bottom Line

    JAN 27

    The Secret to Contractor Success: The Simple Math That Boosts Your Bottom Line

    Send a text 🔗 LINKS Visit the episode page at for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Ready for the construction-specific math that transforms your bottom line?  In part 2, Wade reveals how different job types, pricing strategies, and cash flow cycles impact your real profitability. Discover why collecting receivables just 1 day faster could put $186K more in your bank, how job segmentation reveals hidden profit centers, and the simple scenarios that help you stop growing broke.  This isn't theory, it's practical math every contractor can use. ⌚️ Key moments in this episode: 00:00 Introduction to Profit Improvement Potential00:01 Recap of the First Episode00:10 Understanding Construction Project Mix02:03 The Importance of Pricing Strategy06:15 Segmentation in Construction Business06:56 Analyzing Different Job Types14:24 Cash Flow and Profitability23:14 Conclusion and Final ThoughtsJoin the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    25 min
  6. Simple Math, Huge Results: What's Your Profit Improvement Potential?

    JAN 20

    Simple Math, Huge Results: What's Your Profit Improvement Potential?

    Send a text 🔗 LINKS Visit the episode page at for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Discover the Profit Improvement Potential hiding in your construction business!  Wade reveals the simple math that shows why chasing revenue kills profits and how small 1% improvements across key areas can dramatically boost your bottom line.  Learn why lowering prices requires 50% more customers to break even, but raising prices 10% lets you lose 25% of customers and still profit more.  This CFO-level analysis will change how you think about pricing, customer acquisition, and business value forever. ⌚️ Key moments in this episode: 00:00 Introduction to Profit Improvement Potential00:58 Understanding Business Metrics02:41 Strategies to Increase Revenue08:25 Cost Management Techniques09:52 Valuing Your Business13:32 The Impact of Pricing on Profitability17:58 Conclusion and Next StepsJoin the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    22 min
  7. Backlog Doesn't Equal Growth: What Contractors Get Wrong About Risk Management

    JAN 13

    Backlog Doesn't Equal Growth: What Contractors Get Wrong About Risk Management

    Send a text 🔗 LINKS Visit the episode page at for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Every contractor thinks growth is about backlog, but it's actually about how much damage your business can take without folding.  Wade Carpenter and Stephen Brown reveal why insurance isn't just another cost, it's your growth engine.  Learn how proper risk management unlocks bonding capacity, protects cash flow, and turns insurance from a necessary evil into a competitive advantage.  Discover the critical mistakes that kill contractor growth and how to design your business around risk instead of avoiding it. ⌚️ Key moments in this episode: 00:00 Introduction to Contractor Growth and Risk Management00:28 The Role of Insurance in Managing Risk02:25 Starting with Basic Insurance Coverage03:52 Growth Challenges and Risk Mitigation06:02 Advanced Insurance Strategies for Contractors07:13 Insurance as a Tool for Market Access and Bonding08:59 The Importance of Proactive Risk Management17:36 Conclusion and Final ThoughtsJoin the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    19 min
  8. Why Most Construction M&A Deals Fail: Avoid These Common Pitfalls

    JAN 6

    Why Most Construction M&A Deals Fail: Avoid These Common Pitfalls

    Send a text 🔗 LINKS Visit the episode page at for more details and a transcript of the show. Get Profit First for Commercial Construction--OUT NOW! Subscribe to get notified as soon as new episodes go live. ℹ ABOUT THIS EPISODE Construction M&A deals often fail after closing due to unknown risks and misrepresented warranties.  Wade Carpenter and Stephen Brown reveal how Representations & Warranties Insurance, Lost Profit Insurance, and proper surety planning protect both buyers and sellers. Learn why insurance beats traditional escrow arrangements, how to maintain your bonding relationships through transitions, and essential due diligence steps that prevent costly surprises. Perfect for contractors considering buying, selling, or protecting their business value. ⌚️ Key moments in this episode: 00:00 Introduction to Construction M&A Challenges00:39 Understanding the Risks in Construction M&A02:11 Mitigating Risks in Construction M&A05:04 Insurance Solutions for M&A Deals09:47 The Role of Surety in M&A17:43 Final Thoughts and RecommendationsJoin the Profit First for Construction community! Find all episodes and related links at ContractorSuccessForum.com. Join the conversation on our LinkedIn page: https://www.linkedin.com/company/CarpenterCPAs FIND US ONLINE Wade Carpenter, CPA, CGMA | CarpenterCPAs.com Stephen Brown, Bonding Expert | SuretyAnswers.com

    21 min
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About

Tips and advice to run a successful construction business from two long-term industry professionals: Wade Carpenter, a construction CPA, and Stephen Brown, a construction bond agent. Each host has unique, but complementary views and advice from each of their 30+ years in the contracting industry. Their goal is to promote healthy, thought-provoking discussions and tips for running a better, more profitable, and successful company. Subscribe for new insights and discussion every week. Visit ContractorSuccessForum.com to view all episodes and find out more. 

Information

  • Creator
    Contractor Success Forum
  • Years Active
    2021 - 2026
  • Episodes
    257
  • Rating
    Clean
  • Copyright
    © 2026 Contractor Success Forum
  • Show Website
    Contractor Success Forum