Contractor Success Forum

Send us Fan Mail We've met many contractors who were interested in Profit First but struggled to actually implement it. This week, we're talking to Eric Wilkinson, a construction contractor who uses Profit First to gain cash flow clarity, address seasonality, and keep his business healthy. He also address some of the challenges he met when first implementing the system and how he overcam...

Send us Fan Mail We've never met a contractor who liked paying taxes, but there's a difference between tax avoidance and tax deferral. This week, let's talk about some strategies to legally defer your taxes without creating bigger problems down the road for your business.  Topics we cover in this episode include: What tax deferral really means The four main tax methods and how tax d...

Send us Fan Mail Most contractors deal with some ups and downs in their business throughout the year. This week, we're sharing tips that will help you not only identify and prepare for those seasonal shifts, but actually leverage the downturns into opportunities for growth.  Topics we cover in this episode include: How to identify if and how seasonality is affecting your business How to addre...

Send us Fan Mail This week, Wade and guest Amanda Darr talk about the benefits of checking your bank account daily. Find out why staying on top of those transactions can provide awareness, encouragement, and important insights to the health of your company.  Topics we cover in this episode include: Acting more quickly in cases of fraud How Wade's thoughts on checking your bank account daily h...

Send us Fan Mail We're back with Morrelle McCrary for another episode packed full of game-changing AI tips and hacks. Try implementing these strategies to increase your productivity, automate tasks, and create systems and processes to get your team on the same page.  Topics we cover in this episode include: Webular for AI website generation Voice transcription software Using AI to organize th...

Send us Fan Mail Do you have a plan in place in case something happens to you or other leadership in your construction company? If so, when was the last time you updated that plan? This week, we discuss the importance of continuity planning and some key considerations to keep in mind as you plan for the unexpected.  Topics we cover in this episode include: Practice continuation agreements Planning...

Send us Fan Mail This week, we're talking about the best way to turn over revenue and make profit more quickly. We address the question of taking one big job with profit in it or turning over several smaller jobs, and choosing the right jobs that you can turn around efficiently.   Topics we cover in this episode include: Choosing between one large job or multiple smaller jobs How to analyze p...

Send us Fan Mail If you've listened to the Contractor Success Forum before, you know how crucial cash flow is to the health and longevity of your construction company. This week, we're sharing some real life examples of cash flow nightmares, how they happened, and what you can do to avoid similar mistakes.  Topics we cover in this episode include: Cash flow and billing for retainage How...

Send us Fan Mail This week, Alex Barthet returns to the podcast with some actionable tips to set yourself up to get paid on time, every time.  Topics we cover in this episode include: It starts with managing expectations in your written contract The top things to look out for in a contract that you might want to change Increase the notice and opportunity to cure on a default or a claim How to hold...

Send us Fan Mail If you're a contractor wanting to increase the amount of bonds you can get, don't miss this episode. Stephen shares his top strategies for increasing your bondability on this week's episode.  Topics we cover in this episode include: The three things bonding companies care about most How to start putting together your bond application Completing the Contractors'...

Send us Fan Mail This week, we talk about the importance of branding your construction company, and where to get started with building a powerful and authentic brand that willl attract the right clients, subcontractors, and employees.  Topics we cover in this episode include: The benefits of targeting a niche market How to find and target potential clients in your niche Developing your company&apo...

Send us Fan Mail Your financial statements not only communicate the health of your company to your bonding agent, but they also give you a clear understanding of where you stand. This week, find out the basics of what should be included in those financial statements.  Topics we cover in this episode include: The key components of a good construction financial statement Levels of financial statemen...

Send us Fan Mail This week, Mac Bell joins us to talk about safety and how a good relationship with your insurance agent can help you avoid safety claims and save money.  Topics we cover in this episode include: Engagement with policy holders is proven to reduce claims Common mistakes that lead to safety claims Why it's important to get workers back to work quickly and how to do it Experience...

Send us Fan Mail If you think of your construction company as a car, what are the most important indicators on that dashboard that you should be watching in order to keep it running smoothly? We're breaking down ten key gauges that provide insights into the health and efficiency of your company.  Topics we cover in this episode include: Speedometer - Sales Growth Rate Tachometer - Project Eff...

Send us Fan Mail Artificial intelligence and tools like ChatGPT are big topics of discussion across industries today. But how can you use these tools to increase efficiency and build a more successful construction company? Find out on this week's episode with guest Morrelle McCrary, owner of RAM-Tech PC Solutions LLC.  Topics we cover in this episode include: How to use AI for project plannin...

Send us Fan Mail Many construction contractors want to get an idea of where they stand in comparison to the competition or industry benchmarks, but they're not sure where to begin. This week, we're discussing some benchmarking lessons from a source you may not have considered: baseball. Listen to learn what baseball teaches us about measuring success, analyzing losses, scouting players,...

Send us Fan Mail This week, John Ratliffe of Scaling Up Coaches and align5 joins the podcast to drop some game-changing tips and insights for driving up the value of your construction business. Even if you don't have plans to sell your business any time soon, you need to hear this episode. It's never too early to think about the future of your business and you can start taking steps TODA...

Send us Fan Mail If you're not familiar with the Profit First philosophy, you may get the wrong idea from its name. This week, we're talking about how Profit First is really about people, and how implementing the cash flow method can help you build a stronger, more sustainable company with happier employees. Topics we cover in this episode include: How does Profit First = People First? B...

Send us Fan Mail Many contractors come to Wade having used programs like QuickBooks Online, and without any cost code structure. This week on the podcast, we discuss why construction contractors need a cost code structure and how to set one up that strikes the balance between being too simple to provide helpful information and too complex to understand.  Topics we cover in this episode include: Wh...

Send us Fan Mail Bank feed accounting saves time, but it can also create a bookkeeping mess if you're not careful. This week we're talking about the issues that come with bank feed accounting for construction companies and what you need to do to make sure you have a clear, accurate picture of your business's financials.  Topics we cover in this episode include: The problem with rely...

Send us Fan Mail By now you probably know the opportunities offered by a joint venture. But setting one up the right way is a different story. This week, we're giving you a list of questions to consider before you start a joint venture and some of the possible answers. Don't miss this info-packed episode!  Topics we cover in this episode include: Foundational questions for your joint ven...

Send us Fan Mail This week, we're getting you up to speed with everything you need to know about general liability and umbrella insurance policies. Find out what exactly these policies cover, how much coverage you might need, and how they work when a claim is filed.  Topics we cover in this episode include: Why contractors need general liability and umbrella policies What general liability co...

Send us Fan Mail Let's talk about working capital. What exactly is it, what can be included, and why is it important to your bank and bonding company? We'll answer those questions and provide some tips to understand and increase your working capital on this week's episode.  Topics we cover in this episode include: Definitions to know: asset, liability, and current Why working capita...

Send us Fan Mail This week, we're discussing a topic that you should be talking about openly in your construction company but probably aren't: mental health. This important conversation covers the mental health stigma and how to fight it, free resources to help you incorporate mental health awareness into your company culture, and how to recognize the signs that someone on your team may...

Send us Fan Mail This week on the podcast, Rob, Stephen, and Wade are talking about referrals. They share a proven process you can use to actually get clients and vendors excited about referring you to other businesses or consumers. Learn how it works and what questions to ask on this week's show.  Topics we cover in this episode include: Why contractors should focus on getting referrals Make...