152 episodes

Tips and advice to run a successful construction business from three long-term industry professionals, Wade Carpenter, a construction CPA, Rob Williams, a profit strategist who owned and operated a large construction operation for many years, and Stephen Brown, a construction bond agent. All have 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.

Contractor Success Forum Contractor Success Forum

    • Business
    • 5.0 • 8 Ratings

Tips and advice to run a successful construction business from three long-term industry professionals, Wade Carpenter, a construction CPA, Rob Williams, a profit strategist who owned and operated a large construction operation for many years, and Stephen Brown, a construction bond agent. All have 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.

    Maximizing Margin by Full Kitting Your Construction Projects

    Maximizing Margin by Full Kitting Your Construction Projects

    Full-kitting is a term most often associated with manufacturing. What does it mean and how can we use that concept in construction to maximize our profits? Let's talk about it.

    Topics we cover in this episode include:
    Full Kitting from a Subcontractor StandpointCommunicate potential problems beforehandStart with project planning and pinpointing common delaysHow to implement full kitting LINKS

    Visit the episode page at https://carpentercpas.com/fullkit for more details and a transcript of the show.
    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

    • 16 min
    7 Ways to Stop Bleeding Profit From Your Jobs

    7 Ways to Stop Bleeding Profit From Your Jobs

    Many contractors aren't making what they should on their jobs. Even if you've got your bidding down, you may still be bleeding profits. What are the things to look for and what can we do about it? Find out on this week's episode.

    Topics we cover in this episode include:
    Don't get burned by change ordersMake sure you're billing everything you have the right to billDouble check the math on your bidsGet on top of your job costing and make it as real time as possible Streamline and actively manage your supply chainPut systems and workflows in place so critical steps are not missedAdopt lean construction principlesLINKS

    Visit the episode page at https://carpentercpas.com/bleed for more details and a transcript of the show.
    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
    Critical Considerations When Leasing or Buying Equipment

    Critical Considerations When Leasing or Buying Equipment

    Equipment is a major part of some contractors' job costs. Should you lease it, or should you buy it? Which is better for you? The answer is, it depends. We're helping you decipher the question and sharing some additional equipment considerations on this week's episode.

    Topics we cover in this episode include:
    Operating Lease vs. Capital LeaseConsider the costs associated with maintaining the equipment you ownInsurance costs and considerations for equipmentEquipment and vandalismHow to decide whether to purchase or lease a piece of equipmentBenefits and drawbacks of having a separate company to own your equipmentLINKS

    Visit the episode page at https://carpentercpas.com/equipment for more details and a transcript of the show.
    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

    • 18 min
    Life Insurance for Succession Planning

    Life Insurance for Succession Planning

    What happens to your company when you die? Making sure you have a continuity plan in place can ensure you have a smooth transition and ease the burden on your family. Life insurance can be a big part of that plan. Here's what you need to know when looking for a policy.

    Topics we cover in this episode include:
    Why you should start thinking about life insurance when you're youngTax considerations for key person life insuranceHow a buy-sell agreement can help pass the company onHow to keep your company operating as it was after something unexpected happensThe different types of life insuranceLINKS

    Visit the episode page at https://carpentercpas.com/succession for more details and a transcript of the show.


    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

    • 20 min
    Unconventional Tax Wisdom for Contractors

    Unconventional Tax Wisdom for Contractors

    We haven't met a contractor who likes to pay taxes, but many take avoiding taxes to the extreme. What are the true implications of making it your goal to pay no taxes every year? Let's talk about it.

    Topics we cover in this episode include:
    Four ways contractors can be taxedAn example of an extreme outcome of tax avoidanceThe purchases and tax choices that get many contractors in troubleHow Profit First can help you save enough for taxes and remain profitableLINKS

    Visit the episode page at https://carpentercpas.com/taxdeferral for more details and a transcript of the show.
    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

    • 20 min
    Is QuickBooks Desktop for Construction Contractors Being Discontinued?

    Is QuickBooks Desktop for Construction Contractors Being Discontinued?

    There have been rumors about QuickBooks Desktop being retired for many years, yet QuickBooks Online still isn't the same capability level as Intuit's older software for contractors. Some recent announcements from them give us more of a direction, and these announcements weren't given to the general public. We're sharing what you need to know this week.

    Topics we cover in this episode include:
    Recent announcements from Intuit on QuickBooks Online QuickBooks Desktop became a subscription model in 2022QuickBooks stopped selling the payroll subscription to the general publicOther accounting software optionsKey things to look for in bookkeeping softwareLINKS

    Visit the episode page at https://carpentercpas.com/quickbooksdesktop for more details and a transcript of the show.


    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

Customer Reviews

5.0 out of 5
8 Ratings

8 Ratings

Richierich72910 ,

Great podcast to become more profitable

These guys are the real deal and want you to be financially strong and free. Listen to them and your business will be better for it.

Jasbro60 ,

Great stuff for all Contractors

Here is what you need to know in order to grow your business!

RWilliamsiii ,

Great new bottom line podcast for contractors

I’m glad to see a good podcast for contractors to get some bottomline stories and info to help their business

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