Contractor Success Forum

Send us Fan Mail What does it take to be an Olympic-level contractor, consistently setting the gold standard in construction? Join Wade Carpenter and Stephen Brown as they explore the key traits and practices that separate the good from the truly great. Discover how you can push your team to win every time.  #ContractorSuccessForum #OlympicCaliberContractor #ConstructionExcellence Topics we cover...

Send us Fan Mail Are you bidding your construction jobs correctly? Learn the crucial difference between margin and markup to boost your profits. We'll show you how to reverse engineer your bids for success and maximize your cash flow. Watch now and transform your bidding strategy!  What we cover on this episode:  01:21 - Reverse engineering profit margins 03:23 - Understanding break-even poin...

Send us Fan Mail Discover the 5 stages of construction company growth and what they mean for your success. From startup to maturity, learn how to navigate challenges and seize opportunities at each stage. Watch now to understand where your business stands and plan for the future! Topics we cover on this episode include:  01:47 - The Startup stage 03:06 - The Survival stage 05:05 - The Success stag...

Send us Fan Mail Struggling to get bonds for bigger construction jobs? We've got you covered! Learn how to push through job size issues with your surety company and take your contracting business to the next level. Watch now for practical tips and insider advice!  Topics we cover on this episode include:  02:23 - Underwriter concerns and considerations 05:56 - Cash flow and financial risks 08...

Send us Fan Mail Do you know if you're bidding your job properly to manage it for your cash flow? Struggling to keep your finances in order despite your best efforts? You're not alone. And today we're going to tackle some of these issues head on. Topics we cover on this episode include:  03:23 - Profit First implementation challenges 07:17 - Instant assessment difficulties 10:34 - J...

Send us Fan Mail Discover how modern technology is transforming the construction industry! In this episode of Contractor Success Forum, Wade Carpenter and Stephen Brown discuss real-world case studies that showcase the benefits of implementing technology on job sites.  From cost savings to increased efficiency, learn how you can leverage these tools to improve your business. Don't miss out –...

Send us Fan Mail Protect your construction site from theft! In this episode, we discuss the rising issue of job site theft and how it impacts your business. Learn practical tips to safeguard your equipment and materials, especially during holidays. Don't let theft eat into your profits - listen now and secure your assets!  Topics we cover on this episode include:  00:28 - Theft in Constructio...

Send us Fan Mail Struggling to finish that last 2% of a construction job? 🚧 In this episode, Wade Carpenter and Stephen Brown discuss real-world case studies of projects that went off the rails in the final stages. Discover best practices to avoid costly delays, rework, and legal battles as you close out your next project. 💪 Watch now for expert tips on punch lists, documentation, and effective...

Send us Fan Mail Have you ever had trouble finding good help? Can't find good qualified people? It's been tough in the construction market, but there are ways to find good help at a reasonable cost. Let’s break them down this week on the podcast. On this episode, we discuss: The current state of the labor shortage in construction and accounting Why companies are struggling to find and re...

Send us Fan Mail You've got a new construction project. Everyone's excited to get started, but are you doing the right things or are you setting yourself up for failure? Let’s talk about the essential items that should be on your checklist for a successful project.  Topics we cover in this episode include: Start off with good communication Get the mobilization and utilization right at th...

Send us Fan Mail They say history repeats itself, and this is definitely true in construction. What can we learn from what happened in the past so it doesn't repeat itself? Let’s talk about it this week.  Topics we cover in this episode include: What we've learned from periods like recession and Covid 19 Be aware of economic cycles and how to get through the downturns Prepare for not onl...

Send us Fan Mail Have you ever noticed that some people do really well in construction while others really struggle? What do they know that you don't? Today we're talking about seven secrets to building a successful construction company.  Topics we cover in this episode include: Engage in effective financial management Build a strong team around you, internally and externally Develop a n...

Send us Fan Mail What happens when things go wrong on a job? When they do, what can we learn from it so that we don't make the same mistakes again? Stephen has a case study this week that contains multiple important lessons that all contractors should hear.    Topics we cover in this episode include: A case study in construction failure Breaking down the facts Make sure insurance covers anyth...

Send us Fan Mail Are you finding all the work you want to do? Trouble finding leads? Does social media help? Today, marketing expert Amanda Darr is here to help us figure that out. Topics we cover in this episode include: Start by defining your ideal client Get a domain and business email set up Set up a website - it doesn't have to be complicated  Does your construction company need a social...

Send us Fan Mail Not getting the information you need from your construction accounting software? Have you outgrown your software? How would you know if you did? And how do you start the search for the right software to replace it? Let's talk about it all on this week's episode. Topics we cover in this episode include: Are you having trouble integrating with other products? Are you doing...

Send us Fan Mail Are you putting yourself at risk for an IRS audit? What kind of things do the IRS target for contractors? We're breaking it down on the podcast this week. Topics we cover in this episode include: Accounting method rules based on the type of contractor you are Contract-related services and advanced payments Things on the expense side that can trigger an audit Unreasonable comp...

Send us Fan Mail Retainage. If you deal with it, is that job holding your company back? Are you being the bank for your job owner? Does it stunt your cashflow and growth? What can you do about it? Find out on this week's episode. Topics we cover in this episode include: What is retainage? Retainage can sunt your company's growth if you don't bid jobs properly A retainage case study...

Send us Fan Mail Safety and workers comp insurance have several challenges, but what are the best solutions? Stephen brings his insight to this week's episode. Here's what you need to know about what Workers Comp can do for you, the most common type of claims, when to file a claim, experience mods, and more. Topics we cover in this episode include: What Workers Comp is and how it started...

Send us Fan Mail If you've been here a while, you know we preach job costing and how it can help a contractor be more profitable. One of the challenges of implementing a job costing system is figuring out costing your labor. Where do you start? Let's talk about it. Topics we cover in this episode include: Challenges with getting information for the payroll system Three ways job costing l...

Send us Fan Mail One of the biggest stumbling blocks with contractors getting their job costing system set up properly is the cost code structure. There are several moving parts and it can be overwhelming. Where do you start? We're showing you on this week's episode. Make sure to check it out on the Carpenter CPAs YouTube channel. Topics we cover in this episode include: Reasons contract...

Send us Fan Mail Have you ever felt like the world is ending because your bank balance is low and you don't know how you're going to pay your people or your bills? Or you're on top of the world because your bank balance is high, but the next day the cash disappears? Let's talk about the psychology of money and how you can use your innate habits to control your construction comp...

Send us Fan Mail 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 mindset Be careful about business c...

Send us Fan Mail 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 business Build the relationship befo...

Send us Fan Mail 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 Accounts How to treat retainage properly in your Chart of Accounts Cost of revenue categories LINKS Visit the episode page at https://carpentercpas....

Send us Fan Mail 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 plan Ground rules for your strategic plan Wh...