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Contractor Success Forum
Contractor Success Forum episodes
- Theft on the Job Site: Protecting Your Equipment and Materials
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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 Construction Industry
- 01:06 - Holidays: Prime Time for Theft
- 02:08 - Organized Crime Involvement
- 03:06 - Statistics on Equipment Theft
- 04:25 - Protecting Equipment During Holidays
- 05:43 - Insurance for Equipment
- 07:05 - Security Measures
- 07:50 - Technology Against Theft
- 09:03 - Importance of Police Reports
- 10:24 - Insuring Equipment for Replacement Cost
- 11:40 - Material Theft and Vandalism
- 13:10 - Insurance for Materials
LINKS
Visit the episode page at https://CarpenterCPAs.com/theft 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.com17 min - The Final 2%: Ensuring a Smooth and Successful Construction Project Closeout
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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 communication to ensure a successful finish! 🎉
#ConstructionCloseout #ProjectManagement #ContractorSuccess
Topics we cover on this episode include:
- 00:00 - Finishing the last 2%
- 00:29 - Train wrecks at job's end
- 01:03 - Owners wanting more work
- 01:58 - Learning from case studies
- 02:49 - Consequences of unfinished jobs
- 03:33 - Documenting change orders
- 04:14 - Punch lists and rework
- 05:11 - Inaccurate initial assessments
- 06:18 - Consequences of project delays
- 07:17 - Financial losses and disputes
- 08:08 - Disrupting your own operations
- 09:07 - Reputation damage
- 09:56 - Detailed closeout checklists
- 10:32 - Proper documentation
- 11:14 - Communicating with stakeholders
- 12:15 - Proactively addressing issues
- 12:52 - Supply chain challenges
- 14:06 - Embracing technology and data
- 15:00 - Pre-planning and communication
- 15:49 - Avoiding the last 2% nightmare
LINKS
Visit the episode page at https://CarpenterCPAs.com/twopercent 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.com21 min - Labor Shortages and the Construction Industry: Why Specialized Accounting Matters
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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 retain good labor
- What happens when a construction owner tries to take on too many roles
- Outsourcing as a solution to the labor shortage
- If you do outsource work, make sure it's to a professional who knows your industry
- Support and nurture relationships with the people you count on most
- How to address higher salary expectations post COVID and the recession
LINKS
Visit the episode page at https://CarpenterCPAs.com/labor 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.com21 min - 6 Steps to Start Your Project Off on the Right Foot
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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 the beginning of your project
- Get accurate accounting information from the start
- Consider project safety from the start of the job
- Managing change orders
- Make sure you're monitoring progress and tracking results
LINKS
Visit the episode page at https://CarpenterCPAs.com/rightfoot 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.com16 min - History's Blueprints: Lessons for Modern Contractors
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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 only the recession, but also the recovery period
- What we can learn from the supply chain issues during Covid 19
- Time and materials contracts and supply bonds
LINKS
Visit the episode page at https://CarpenterCPAs.com/history 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.com22 min - 7 Secrets to Building a Successful Construction Company
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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 niche market
- Manage your projects effectively
- Build strong relationships
- Put marketing and branding in place
- Continuously prioritize improvement, innovation, and education
LINKS
Visit the episode page at https://CarpenterCPAs.com/success-secrets 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.com21 min - Project Selection: Anatomy of a Train Wreck
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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 anything your project touches - including existing buildings
- Have conversations with the architect before the bid
- If you're redoing work for a bond claim, be prepared to tear everything up
LINKS
Visit the episode page at https://CarpenterCPAs.com/trainwreck 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.com23 min - Construction Marketing: Find and Attract Leads the Easy way
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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 media presence?
- Share stories and visuals that showcase your work, process, and team
- What content to showcase (and what to avoid) on your website and social media
LINKS
Visit the episode page at https://carpentercpas.com/marketing for more details and a transcript of the show.
Contact Amanda Darr: [email protected] | amandadarr.comJoin 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.com25 min - Signs You May Need to Upgrade Your Accounting Software
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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 things manually that could be automated?
- Is your software customized to the information you want?
- Where to start when searching for a new accounting software solution
- Will your software be scalable in the future?
- What are the costs associated with implementing the software, and is there ongoing support?
LINKS
Visit the episode page at https://carpentercpas.com/software 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.com22 min - IRS Red Flags: Audit Triggers for Construction Contractors
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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 compensation
- Charitable contributions
- Misclassification of workers
- Unusual transactions
- Drastic changes in expense classification from one year to the next
LINKS
Visit the episode page at https://carpentercpas.com/audit 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.com19 min
About Contractor Success Forum
From the publisher's feed
Tips and advice to run a successful construction business from two long-term industry professionals: Wade Carpenter, a construction CPA, and Stephen Brown, a construction bond agent. Each host has…
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.