Contractor Success Forum podcast

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Are tech missteps costing your construction company millions? 20:49

for 5 dager siden20:49

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20:49

Send us a text In construction, failing to use the right technology can result in massive financial losses. Wade and Stephen delve into real-world examples where contractors lost big due to outdated project tracking, skipping BIM, and neglecting equipment maintenance. Learn essential lessons on how effective use of technology could have saved projects from costly overruns and preventable disasters. Discover the importance of cybersecurity, bid accuracy, material tracking, and contract management in preventing financial pitfalls. If you're on the fence about implementing new technology, this is a must-listen! Subscribe to get notified as soon as new episodes go live on YouTube: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics we cover in this episode include: 00:44 Real-World Case Studies: Technology Failures 02:47 The Importance of Cybersecurity 04:39 Avoiding Costly Bid Errors 07:32 Material Theft and Mismanagement 13:11 The Role of Telematics 16:55 Legal and Contractual Safeguards LINKS Visit the episode page at https://carpentercpas.com/techmisstep for more details and a transcript of the show. Take the FREE Construction Company Health Evaluation: https://profitfirstconstruction.com/free-resource-evaluate-your-accounting-system/ 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…

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How one contractor's cash flow wake-up call changed everything 23:30

for 12 dager siden23:30

23:30

Send us a text Most contractors believe that working harder and landing bigger jobs will solve their cash flow issues. But is that mindset holding them back? In this episode of the Contractor Success Forum, Wade and Stephen discuss the financial struggles of a seemingly successful contractor who had to fundamentally change their business approach. They delve into the reality check and lessons learned, emphasizing the importance of proper cash flow management, accurate job costing, and strategic debt management. Tune in to discover the epiphanies and strategies that can help contractors avoid similar pitfalls and move towards financial stability. Subscribe to get notified as soon as new episodes go live on YouTube: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics we cover in this episode include: 00:19 A Real Contractor's Wake-Up Call 00:35 Meet the Hosts: Wade and Stephen 01:12 The Case Study Begins 02:11 Financial Realities and Epiphanies 03:58 Implementing Profit First 05:40 The Cash Flow Projection 08:06 Aggressive Strategies and Tough Decisions 18:23 Lessons Learned and Final Thoughts LINKS Visit the episode page at https://carpentercpas.com/breakingpoint for more details and a transcript of the show. Take the FREE Construction Company Health Evaluation: https://profitfirstconstruction.com/free-resource-evaluate-your-accounting-system/ 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…

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The Future of Construction: How Tech is Changing the Industry 24:39

for 19 dager siden24:39

24:39

Send us a text Join Wade and Stephen as they explore how technology is revolutionizing the construction industry. Discover how innovations like BIM, drones, and automation are reducing costs, improving project management, and increasing profitability. Learn why so few contractors are adopting these tools and how they can overcome the barriers to implementing new technology. Packed with statistics and insights, this episode offers actionable advice for contractors looking to work smarter and more efficiently. Subscribe to get notified as soon as new episodes go live on YouTube: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics we cover in this episode include: 00:32 The Impact of Technology on Construction 01:00 Adoption Challenges and Benefits 02:56 Innovative Technologies in Construction 05:27 Real-World Examples and Case Studies 10:11 Future Trends and Predictions 19:45 Overcoming Barriers to Technology Adoption LINKS Visit the episode page at https://carpentercpas.com/tech2025 for more details and a transcript of the show. Take the FREE Construction Company Health Evaluation: https://profitfirstconstruction.com/free-resource-evaluate-your-accounting-system/ 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…

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Working Capital Strategies That ACTUALLY Work 24:02

for 25 dager siden24:02

24:02

Send us a text You ever feel like your projects are running smoothly, but your cash flow isn't? Join Wade and Stephen as they dive into the critical importance of working capital in the construction business. Discover how adequate working capital acts as the lifeblood of your company, helping you manage payroll, materials, and equipment costs. Learn key strategies to ensure you have the right amount of working capital, improve your financial stability, and avoid cash flow crises. With practical tips and real-life examples, this episode is a must-watch for any contractor aiming to build a healthy, sustainable business. Subscribe to get notified as soon as new episodes go live on YouTube: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics we cover in this episode include: 00:29 Importance of Working Capital 01:10 Bonding and Working Capital 02:26 Understanding Working Capital 03:27 Managing Cash Flow and Working Capital 05:43 Improving Working Capital 12:00 Employee Dishonesty and Working Capital 13:38 Debt and Working Capital LINKS Visit the episode page at https://carpentercpas.com/oil for more details and a transcript of the show. Take the FREE Construction Company Health Evaluation: https://profitfirstconstruction.com/free-resource-evaluate-your-accounting-system/ 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…

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How to gain a competitive edge using AI assistants 26:43

for 5 weeks siden26:43

26:43

Send us a text Imagine starting your day with AI already optimizing your schedule and handling complex tasks. Join Wade and Stephen as they dive into how AI assistants are transforming the construction industry. Discover the competitive edge gained by early adopters and explore examples of AI in action, from organizing historical bidding data to managing project schedules, predicting change orders, and improving cash flow. Learn about open vs. closed AI platforms and data privacy concerns as well. If you're in construction and want to stay ahead, this is a must-watch episode. Share your experiences and let us know how AI is helping your business in the comments below! Subscribe to get notified as soon as new episodes go live: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics we cover in this episode include: 00:50 Real-World Applications of AI 02:07 AI Assistants and Their Capabilities 02:46 Data Privacy and Security Concerns 04:38 AI in Financial Operations 12:53 AI in Project Management and Estimating 20:40 Future of AI in Construction LINKS Visit the episode page at https://carpentercpas.com/assistant for more details and a transcript of the show. Take the FREE Construction Company Health Evaluation: https://profitfirstconstruction.com/free-resource-evaluate-your-accounting-system/ 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…

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Real Strategies to Maximize Workforce Potential 24:21

for 6 weeks siden24:21

24:21

Send us a text Do you wish your people could do more for you? Discover how to get the most out of your workforce on the Contractor Success Forum with hosts Wade Carpenter and Stephen Brown. This episode dives into leveraging individual strengths in your team, the importance of aligning roles with personal skills and passions, and the challenges of managing family members and technological obsolescence in construction businesses. Tune in for tips on optimizing team dynamics, promoting a team mentality, and building a legacy of success. Don't miss this insightful discussion! Subscribe to get notified as soon as new episodes go live: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover include: 00:45 Understanding Different Personalities in the Workforce 02:24 Aligning Skills and Job Roles 06:51 The Importance of Passion in Job Performance 12:46 Team Dynamics and Leadership 19:36 Generational Differences and Cultural Fit LINKS Visit the episode page at https://carpentercpas.com/workforce for more details and a transcript of the show. 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…

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Mastering Construction: Financial Health Check 21:03

for 7 weeks siden21:03

21:03

Send us a text We've reached 200 episodes of the Contractor Success Forum! Join Wade Carpenter and Stephen Brown as they reflect on their journey, discuss the value of contractor education, and unveil a special 85-question quiz designed to help construction contractors assess and improve their business practices. Discover insights on financial health, systems, operations, and project control tailored specifically for the construction industry. Don't miss this milestone episode filled with valuable advice and a deep dive into key topics that can elevate your construction accounting game! Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover on this episode: 00:41 Reflections and Lessons Learned 01:27 The Importance of Contractor Education 02:24 Adapting to New Technologies 04:05 Introducing the Contractor Success Quiz 06:08 Details of the Quiz and Its Benefits 08:38 Encouraging Listener Participation 15:31 Looking Ahead: Future Plans and Projects LINKS Visit the episode page at https://carpentercpas.com/evaluation for more details and a transcript of the show. 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…

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Maximizing Profit Margins through Client Collaboration in Construction 25:47

for 8 weeks siden25:47

25:47

Send us a text This week, Wade Carpenter and Stephen Brown discuss the critical role of client collaboration in construction projects. The episode explores strategies for effective collaboration, from pre-project planning to managing supply chain challenges, labor shortages, and inflation. Drawing insights from a recent report from Liberty Mutual and Dodge, they highlight how top contractors are navigating industry challenges by working closely with clients, subcontractors, and surety companies. Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover on this episode: 01:01 The Importance of Collaboration Culture 02:26 Technological and System Challenges 03:18 Impact of External Factors on Projects 04:33 Effective Risk Management Strategies 05:42 Contract Negotiations and Material Costs 07:19 Collaboration with Subcontractors 12:29 The Role of Technology in Collaboration 20:02 Collaboration with Surety Companies LINKS Visit the episode page at https://carpentercpas.com/collaboration for more details and a transcript of the show. 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…

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Productivity hacks for contractors to work smarter, not harder in 2025 28:37

for 9 weeks siden28:37

28:37

Send us a text Do you feel overwhelmed by the daily grind of managing your construction business? In our first podcast of 2025, Wade Carpenter and Stephen Brown share essential productivity hacks tailored for contractors. Learn how to leverage tools like the Elgato Stream Deck, Superhuman for email management, AI, and low code automation systems to work smarter, not harder. Discover strategies for optimizing your workflow, creating effective templates, and using keyboard shortcuts. Save time and increase efficiency with these practical tips. Join us on the Contractor Success Forum and make 2025 your most productive year yet! Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover on this episode: 02:06 The Elgato Stream Deck: A Game Changer 08:25 Superhuman Email Management 13:57 Voice Dictation and AI Integration 19:52 The Power of Templates 22:34 Automation Tools for Contractors LINKS Visit the episode page at https://carpentercpas.com/2025hacks for more details and a transcript of the show. 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…

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A Year of Contractor Success: Your 5 Favorite Episodes From 2024 22:07

for 10 weeks siden22:07

22:07

Send us a text Join Wade and Stephen as they share the 5 most popular episodes from 2024 that helped contractors boost profits and improve cash flow. From smart job costing to unconventional tax strategies that work, these proven tips helped hundreds of contractors succeed. Listen now to learn what worked best for your fellow builders! Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover on this episode: 01:26 - Strategic Planning Discussion 04:53 - Preventing Profit Loss 08:55 - Entity Structure Considerations 10:49 - Job Costing Labor 14:15 - Keys to Construction Success 18:19 - Tax Strategy Discussion LINKS Visit the episode page at https://carpentercpas.com/2024 for more details and a transcript of the show. 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…

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Bonding Pitfalls and How to Avoid Them – Real Case Studies 16:29

for 11 weeks siden16:29

16:29

Send us a text Getting bonded as a contractor can feel like navigating a maze. Join Wade Carpenter and Stephen Brown of McDaniel Whitley Bonding and Insurance in part three of our series on contractor bonding. This episode dives into real-life case studies to uncover valuable lessons for getting bonded successfully. Learn about the challenges of single large clients, territory issues, experience factors, high turnover rates, unstable project pipelines, high operating expenses, and specialized high-risk projects. Tune in for expert insights and practical advice to enhance your bonding process. 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 Topics Wade and Stephen cover on this episode: 00:20 Welcome to the Contractor Success Forum 00:41 Understanding Case Studies 01:10 Challenges with Single Large Clients 02:24 Experience and Reputation in Bonding 04:36 High Turnover and Its Impact 06:28 Backlog and Project Pipeline 08:07 Subcontractor Bonding Issues 09:30 Financial Planning and Overhead 13:56 High-Risk Projects LINKS 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Visit the episode page at https://carpentercpas.com/getbonded3 for more details and a transcript of the show. 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…

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How to Build a Disaster-Proof Business [Learn from Waffle House] 15:51

for 12 weeks siden15:51

15:51

Send us a text FEMA uses Waffle House as their disaster gauge - here's why construction companies should copy their playbook. Learn how this 24/7 restaurant chain's disaster planning and logistics can help your construction business stay running when crisis hits. Listen to discover their proven systems for supply chain management, workforce readiness, and emergency response. #ConstructionManagement #DisasterPreparedness #BusinessContinuity 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 #ConstructionBonding #ContractorSuccess #BondingTips Topics Wade and Stephen cover on this episode: 00:44 - Importance of cash flow 01:45 - Contractor cash flow challenges 03:29 - Personal experience and motivation 05:05 - Profit First for contractors 06:32 - Contractor Profit Paradox 08:34 - Failure of traditional advice 10:27 - Great Recession lessons 12:07 - Implementing Profit First 13:51 - Major teachings overview 16:25 - Practical action steps LINKS 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Visit the episode page at https://carpentercpas.com/wafflehouse for more details and a transcript of the show. 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…

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How to STOP Struggling with Cash Flow and Keep More of What You Earn [Profit First for Commercial Construction] 17:44

for 13 weeks siden17:44

17:44

Send us a text Struggling with cash flow in your construction biz? Learn how Profit First for Commercial Construction can help you keep more of what you earn! Get a sneak peek of the teachings in Wade Carpenter’s new book. 📘 Tune in now to discover a system that works for contractors. #ProfitFirst #ConstructionFinance #CashFlowTips 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 #ConstructionBonding #ContractorSuccess #BondingTips Topics Wade and Stephen cover on this episode: 00:44 - Importance of cash flow 01:45 - Contractor cash flow challenges 03:29 - Personal experience and motivation 05:05 - Profit First for contractors 06:32 - Contractor Profit Paradox 08:34 - Failure of traditional advice 10:27 - Great Recession lessons 12:07 - Implementing Profit First 13:51 - Major teachings overview 16:25 - Practical action steps LINKS 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Visit the episode page at https://carpentercpas.com/profitfirstbook for more details and a transcript of the show. 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…

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[Ask a Bond Agent] Avoid These Bonding Pitfalls 22:08

for 14 weeks siden22:08

22:08

Send us a text Struggling to get bonded? 🤔 In this episode, we tackle real-life case studies to help you navigate the construction bonding process. Wade and Stephen share expert insights on overcoming common pitfalls. Listen now and level up your bonding game! 💪 🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!) Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 #ConstructionBonding #ContractorSuccess #BondingTips Topics Wade and Stephen cover on this episode: 00:35 - Importance of relationships with your bonding agent 01:40 - Announcement: Get early access to Profit First for Commercial Construction 04:52 - Seasonal revenue challenges 07:09 - Equipment debt issues 09:16 - Inconsistent profit margins 11:12 - Taxes versus bonding 14:17 - Family-owned business succession 16:54 - Overdue taxes impact 19:25 - Tax liens and payment plans LINKS Visit the episode page at https://carpentercpas.com/getbonded2 for more details and a transcript of the show. 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…

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How to Scale Your Construction Company (WITHOUT more work!) 19:12

for 15 weeks siden19:12

19:12

Send us a text Want to scale your construction company without burning out? Learn proven systems to grow beyond the one-person operation, from managing cash flow to building repeatable processes that let your business run smoothly without you. Watch for practical tips from construction industry experts. Subscribe for weekly construction finance tips: https://www.youtube.com/@CarpenterCPAs?sub_confirmation=1 #ConstructionBusiness #ContractorGrowth #ScalingUp Topics we cover in this episode: 02:02 - The E-Myth Book Example 04:19 - Construction Industry Complexities 06:13 - Business Growth Hierarchy 08:38 - Growth Stage Challenges 10:40 - Back Office Systems 12:42 - CFO Services Discussion 14:40 - Finding the Right Advisors 16:38 - Systems Implementation Importance LINKS Visit the episode page at https://carpentercpas.com/leverage for more details and a transcript of the show. 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…

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