156 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.

    How to Build a Solid Foundation for Your New Construction Company

    How to Build a Solid Foundation for Your New Construction Company

    Starting a construction business? Wanting to get off on the right foot? Getting the foundation right from the start can spell the difference between success and failure. Let's talk about how to successfully plan, launch, manage, and grow a new construction business.

    Topics we cover in this episode include:
    Starting a business with the right mindsetBe careful about business costs and debt when you're getting startedEstablish your financial board of directorsAvoid these common mistakes contractors make when launching a companyNaming your new construction businessKnow how to manage your business once it's launchedSales and growing your businessLINKS

    Visit the episode page at https://carpentercpas.com/launch 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
    How to Create a Rock Solid Bonding and Banking Relationship

    How to Create a Rock Solid Bonding and Banking Relationship

    In an industry where having solid financial backing and trust is crucial, getting these relationships right is not just a bonus, it's a necessity. This week, let's discuss how to build relationships that will last and support your business over the years.

    Topics we cover in this episode include:
    How to find the right partners for your businessBuild the relationship before you need the help of a bonding agent or bankerMake your banker and bond agent feel valuedIntroduce your banker and bond agent to your teamBe honest about your situation with your financial board of directorsLINKS

    Visit the episode page at https://carpentercpas.com/relationship 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
    How to Create a Construction Chart of Accounts

    How to Create a Construction Chart of Accounts

    The foundation of any robust construction accounting system lies in a well structured chart of accounts. But building one can be tricky. Let's walk through it.

    Topics we cover in this episode include:
    Walking through the Chart of AccountsHow to treat retainage properly in your Chart of AccountsCost of revenue categoriesLINKS

    Visit the episode page at https://carpentercpas.com/chartofaccounts 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
    Creating a Strategic Plan for Construction Contractors

    Creating a Strategic Plan for Construction Contractors

    It's winter right now, and if you're in construction, this may be a slower time of year for you. It's a great time to create a strategic plan for your company for the coming year. How do you do it? We'll walk you through it.

    Topics we cover in this episode include:
    Why now is a good time to think about your strategic planGround rules for your strategic planWhat should be included in your strategic plan?The importance of a good budgetAnalyze your riskHow to use KPIs for strategic planningNote the trends in your market Get input from your key business advisorsLINKS

    Visit the episode page at https://carpentercpas.com/strategicplan 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
    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

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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