Contractor Success Forum

By Contractor Success Forum

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

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FAQs about Contractor Success Forum:

How many episodes does Contractor Success Forum have?

The podcast currently has 268 episodes available.

Contractor Success Forum episodes:

October 05, 2021The Impact of Profit First by the Numbers
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This week we're going beyond the basic concepts and psychology behind Profit First, and into the real impact it can have on your construction business.

Topics we cover on this episode include:
Why too many contractors are not being rewarded for their hard work
How even the smallest changes can have a huge impact on the health of your business
How cashflow and profit drivers can increase the overall value of your business

LINKS

Visit the episode page at https://contractorsuccessforum.com/impact for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
30min
September 28, 2021The Power of Documenting Your Projects with Special Guest Chad Gill
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When it comes to disputes on the job, documentation is the best protection. That's what we're talking about this week with special guest Chad Gill. He's a polished concrete contractor who also created an app to help teams document their jobs. We sat down with him to find out why documentation is important and how software can help you do it right.

Topics we cover include:
Real examples of when documentation protected our companies from a loss
How a system for documentation can improve your relationship with your bond agent
What additional pain points software like Chad's can address
How to best implement new software in your company
LINKS

Visit the episode page at https://contractorsuccessforum.com/chad for more details and a transcript of the show.

Learn more about Chad
Visit the Workforce Recon website: https://workforcerecon.com/
Visit the Concreate website: https://thisisconcrete.com/
Read Chad's bio on the episode page: https://contractorsuccessforum.com/chad
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
28min
September 21, 2021Busting Common Profit First Myths, Pt. 2
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Stephen, Wade, and Rob are back with a second episode on Profit First myths. This week they dive deeper into common misconceptions about the Profit First method, TAPs and working with a Profit First Professional.

The myths we discuss this week:
I don't need to work with a certified Profit First expert to implement the system.
Anybody can teach Profit First.
My business won't grow if I take my profit first.
Profit should be used for capital expenditures.
Profit First says to put aside 15% for taxes. That's not enough.
If I can't hit the Target Allocation Percentages (TAPs), the system won't work.
If you missed part one, go back to hear the first six myths. And don't forget to send questions or content suggestions to us at the links below.

LINKS

Visit the episode page at contractorsuccessforum.com/myths2 for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
27min
September 14, 2021What you should know before getting a bond
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Many newer contractors find the process of obtaining their first bond intimidating. This week we're walking you through what you need to know to get bonds and go after the projects that will help your company grow.

Topics we cover include:
How your bond agent will work with you to get approved, even if your financials aren't perfect
The main factors bond underwriters consider when deciding whether to approve a bond application
How working with a construction-specific CPA can help you get bonds
What can help you get approved when you're just starting out

LINKS

Visit contractorsuccessforum.com/bonds to grab the free downloads mentioned on the show:
Sample Contractors Questionnaire
Sample Bank Reference Letter
Sample Personal Financial Statement
Sample Resume
Visit the episode page at contractorsuccessforum.com/bonds for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
24min
September 07, 2021Busting Common Profit First Myths
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On this week's episode, we're tackling some common myths and misconceptions we've heard about Profit First - the cashflow management system itself as well as how to implement it in your business.

These are the myths we're discussing this week:
I can implement Profit First using just a spreadsheet or my current accounting system - I don't really need to open a bunch of separate bank accounts.
Profit First doesn't work...it's just a fad or a gimmick.
I don't have to wait to take my profits out quarterly; I can take them out early if I want or need to.
The Profit First system is something I can set and forget, without making any continuous adjustments.
I can have someone else run the Profit First system for me in my business without getting involved as the business owner.
Stay tuned for Part 2, where we'll be discussing more common myths about Profit First. Have one you want us to cover? Get in touch at the links below!

LINKS

Visit the episode page at contractorsuccessforum.com/myths for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
21min
August 31, 2021Answering contractors' questions about Profit First
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On this week's episode, we're providing the answers to your questions about Profit First. What are the most frequently asked questions by contractors about implementing Profit First? Find out now, and don't miss your chance to win a free copy of the book.

Questions we discuss include:
Can I implement Profit First in my business from simply reading the book instead of working with a Profit First Professional?
What is unique about implementing Profit First in a construction business?
What does the book not include that contractors need to know about Profit First?
What does the process of working with a Profit First Professional look like?
Why does Profit First say to hold out only 15% for profit?

LINKS

Enter to win a Kindle copy of Profit First by Michael Michalowicz at contractorsuccessforum.com/giveaway

Visit the episode page at contractorsuccessforum.com/questions for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
22min
August 24, 2021Don't become a target: Cybersecurity tips from IT expert Morrelle McCrary
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This week, we're following up on our fraud and employee dishonesty discussion with an episode focused on one of the biggest threats to your business: cybercrime. Morrelle McCrary of RAM-Tech PC Solutions joins us for this important conversation.

Topics we cover include:
How cybersecurity has changed and why you need to worry about breaches more than hackers now
How much it costs on average to deal with a security breach and how many businesses go under after an attack
The tools that can help protect your data and their limitations
The process of applying for cyber security insurance and completing an audit
How you can work with an IT professional to secure your data and your clients' data

LINKS

Visit the episode page at contractorsuccessforum.com/cybersecurity for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe.
Find all episodes and related links at ContractorSuccessForum.com.

Have questions? Need help with your cybersecurity? Contact Morrelle at RAM-Tech PC Solutions:
RAMTechPCS.com
[email protected]
678-999-2172

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
24min
August 17, 2021Protect your construction company against cybercrime and employee fraud
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No one wants to think they could be the victim of employee dishonesty or cybercrime, but the unfortunate reality is that it's becoming more and more common. This week's episode is all about awareness of the types of fraud you may encounter and how to protect yourself.

Topics we cover include:
How common employee fraud and cybercrime are
Examples of fraud in construction companies
How insurance can protect you from employee dishonesty, theft, cybercrime, and social engineering attacks
Internal controls that can protect you and how applying for insurance can help you put them in place
Visit the episode page at contractorsuccessforum.com/fraud for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe.
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
20min
August 10, 2021Surviving Seasonality and Uncertainty in Construction
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This week we're talking about how to deal with seasonality in the construction industry. As a contractor, you've likely faced ups and downs in your business from changes that were both anticipated and unpredictable. In the episode, we're sharing strategies for preparing for both.

Topics we cover include:
The factors that can affect your job volume and cash flow, including those beyond weather
How seasonality affects bonding
Tools you can use to save money during the good times and avoid spending it in the slow seasons
Whether you should consider a pivot when work is slow and what else you can do to be productive during downtimes
Visit the episode page at contractorsuccessforum.com/seasonality for more details and a transcript of the show.
Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe.
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
18min
August 03, 2021Choosing the structure of your construction company
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Sole proprietorship? LLC? Partnership? S-Corporation? When it comes to structuring your construction company, there are multiple options with various tax and liability implications. Don't rely on an internet search or what you heard from a friend or relative to decide what will work best for you.

This week we're talking about the options you have when structuring your business. We cover:
How the structure you choose can affect the way you're taxed
How the type of business entity you choose affects liability and asset protection
How what's right for you may vary by industry, location and other factors
Why it's important to work with a professional to make these decisions and how to get started
Visit the episode page at contractorsuccessforum.com/structure for more details and a transcript of the show.

ADDITIONAL RESOURCES
Visit https://contractorsuccessforum.com/managing-your-job-files/ to read more about structuring your job files.

Subscribe for free resources and to be notified of future episodes at contractorsuccessforum.com/subscribe.
Find all episodes and related links at ContractorSuccessForum.com.

FIND US ONLINE
Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com
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
...more
20min

FAQs about Contractor Success Forum:

How many episodes does Contractor Success Forum have?

The podcast currently has 268 episodes available.