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Contractor Success Forum
Contractor Success Forum episodes
- How to qualify for government set-aside contracts
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On a previous episode, we discussed why you may want to consider government contracting work and how to get started. This week we're diving in deeper to find out which government set-aside programs are available for contractors and how to qualify for them.
Topics we cover in this episode include:- How to start and navigate the set-aside program qualification process
- Requirements to qualify as a small business
- The Small Disadvantaged Business designation
- The Woman-Owned Business designation
- The Veteran Owned Small Business designation
- The 8(a) Program
- The HUBZone Program
LINKS
Links and acronyms referenced in the show:- SBA.gov
- NAICS (North American Classification System)
- SAM (System for Award Management)
- FAR (Federal Acquisition Regulations)
- 8(a) Program
- HUBZone (Historically Underutilized Business Zone)
- SBA Certification: Economically disadvantaged woman-owned
- SBA Service-Disabled Veteran program
Visit the episode page at https://contractorsuccessforum.com/setaside 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/contractor-success-forum
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Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com24 min - The critical components of building a job cost system
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The first job costing episode we shared was one of our most popular episodes ever. This week, we're revisiting the important topic. Wade breaks down the most common problems contractors have when implementing a job costing system and how to address each one. You'll learn what you can do now to build or improve your job cost system for consistency and numbers you can trust.
Topics we cover in this episode include:- Why job costing is more complicated in construction
- How to build a solid foundation for your job costing system
- Why consistency is key in job costing
- Issues with applying overhead in job costing
- Choosing the right job costing software
- Why a good job costing system needs a champion
LINKS
Listen to our first job costing episode: https://podcasts.apple.com/us/podcast/job-costing-for-contractors/id1562503965?i=1000516583302Visit the episode page at https://contractorsuccessforum.com/jobcostsystem 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com24 min - Making the move from residential to commercial contracting
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Have you considered making a move from residential to commercial contracting? On this week's episode, we're sharing a few things you should consider before beginning to seek out commercial construction projects.
Want to learn how to reverse engineer your cash flow? Sign up for the free seminar on 5/17 at 10am EST: https://www.eventbrite.com/e/reverse-engineering-your-cash-flow-tickets-332475953527
Topics we cover in this episode include:- What changes with job costing when you move to commercial contracting
- Customer mindset and getting paid as a commercial contractor
- Commercial contracting and cash flow
- Why you should consider setting up a separate company for commercial construction
LINKS
Visit the episode page at https://contractorsuccessforum.com/commercial 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com19 min - QuickBooks for Contractors: Desktop vs. Online
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The right accounting software can save you time and money, support your business's growth, and help you qualify for bonds. Is QuickBooks up to the job? If so, which version should you use: QuickBooks Online or Desktop? Wade shares the questions you need to answer to find out which software is right for you, as well as his thoughts on the limitations of QuickBooks you might run into as a contractor.
Topics we cover in this episode include:- Can QuickBooks work for contractors, and how does it affect bonds?
- The limitations of QuickBooks for contractors
- How to decide which accounting software is right for you: real-time accounting vs after the fact accounting
- QuickBooks and job costing
- Summary job costing vs detailed job costing
- Labor and payroll in QuickBooks
- Quickbooks versions and remote access
LINKS
Visit the episode page at https://contractorsuccessforum.com/quickbooks 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com27 min - Government contracting using a mentor protege program
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Last week we discussed contracting with the federal government. This week, we're discussing a specific way to get into it: the mentor-protege program. Tune in to find out what the program is, who qualifies, and how to get set up for success.
Topics we cover in this episode include:- Getting started with the mentor-protege program
- Putting together a joint venture and mentor-protege agreement
- Finding a mentor or protege
- Getting the joint venture contract right and staying in compliance
LINKS
Links and acronyms referenced in the show:
- SBA.gov
- DUNS Number (Dun & Bradstreet)
- NAICS (North American Classification System)
- SAM (System for Award Management)
- SBA Mentor-Protégé program
- Koprince Law Firm
- MATOC (Multiple Award Task Order Contracts)
- IDIQ (Indefinite Delivery, Indefinite Quantity Contracts)
Visit the episode page at https://contractorsuccessforum.com/mentor 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com26 min - How to get into contracting for the federal government
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The government spends about $580 billion a year on contracts, with 23% of that set aside for small businesses. So how can you begin going after these opportunities? This week, we're talking about the three main things you need to do to get started with contracting for the federal government.
Topics we cover in this episode include:- How to prepare to start doing government contracting
- Opportunities in government contracting for small businesses
- Getting set up in the system: SAM, NAICS codes, and FAR
- Understanding the different types of contracts and how to win them
- How HUBZone and other SBA certifications can help
LINKS
Links and acronyms referenced in the show:
- SBA.gov
- DUNS Number (Dun & Bradstreet)
- NAICS (North American Classification System)
- SAM (System for Award Management)
- FAR (Federal Acquisition Regulations)
- DSBS (Dynamic Small Business Search)
- GSA (General Services Administration)
- SubNet (Subcontracting Network System)
- Construction Excellence Program
- FPDS (Federal Procurement Data System)
- USASpending.gov
- MATOC (Multiple Award Task Order Contracts)
- IDIQ (Indefinite Delivery, Indefinite Quantity Contracts)
- RFQ (Request for Qualifications)
- 8(a) Program
- HUBZone (Historically Underutilized Business Zone)
- SBA Certification: Economically disadvantaged woman-owned
- SBA Service-Disabled Veteran program
Visit the episode page at https://contractorsuccessforum.com/government 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com26 min - Five ways for road contractors to be more profitable during COVID
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Rob recently attended the World of Asphalt conference in Nashville, TN. It got us thinking about what road contractors, and contractors in general, can do to continue building profit and protect themselves from increased costs, labor shortages, and other issues we’re facing in today’s climate. Tune in for top tips from your hosts and other industry experts.
Topics we cover in this episode include:- Why maintaining your equipment should be a priority
- The importance of job costing, especially in today's environment
- How to use your contracts and bids to protect yourself from increasing costs
- How to attract the right employees
LINKS
Visit the episode page at https://contractorsuccessforum.com/asphalt 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/contractor-success-forum
Read Rob's article with advice from industry experts: https://irongateess.com/5-ways-for-road-contractors-to-be-more-profitable-during-covid/
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Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com17 min - The 7 Drivers of Cash Flow in Your Construction Company
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Even with all the work you can do, all the tools you need, and all the right people, your business can't function without cash flow. This week, we're discussing the seven things that drive cash flow in your business and how to optimize each to keep your business going for the long term.
Strategies we cover in this episode include:- The four basic cash flow drivers: price, cost of sales, overhead, and volume
- Why the basic cash flow drivers don't always work as expected
- The Cash Conversion Cycle
- How Accounts Receivable and Accounts Payable days affect cash flow
- How inventory affects cash flow and why your WIP report is your inventory
LINKS
Visit the episode page at https://contractorsuccessforum.com/cashflowdrivers 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com23 min - Six Ways to Improve the ROI of Your Construction Company
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How is your construction company's ROI? Are you getting out more than you're putting in? If you're looking for ways to improve your return on investment, don't miss this week's episode. We're sharing our six best tips for increasing your company's ROI.
Strategies we cover in this episode include:- Track your average gross margin on jobs
- Identify and fix profit leaks
- Get agreements upfront and include all work
- Manage your mix of jobs
- Put efficient marketing processes in place
- Shorten your cycle times
LINKS
Visit the episode page at https://contractorsuccessforum.com/ROI 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/contractor-success-forum
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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.com26 min - Six action items to prepare your construction company for sale
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Thinking about selling your construction company? You need to plan ahead, and there are six things you should get in order to get the most out of the sale. We're going over those six crucial pieces to preparing your business for sale this week.
The six action items we're diving into this week are:- Get consistent cash flow
- Demonstrate profit
- Have consistent revenue
- Maintain a portfolio of clients
- Keep accurate books
- Document your systems and processes
LINKS
Visit the episode page at https://contractorsuccessforum.com/sale for more details and a transcript of the show.
Find all episodes and related links at ContractorSuccessForum.com.
Join the LinkedIn Group at https://www.linkedin.com/groups/14026881/
FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.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
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.