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Get Profit First for Commercial Construction--OUT NOW!

ℹ ABOUT THIS EPISODE

Are you a contractor struggling with cash flow? Join Wade and Stephen as they discuss the launch of 'Profit First for Commercial Construction,' Wade's transformative book tailored for the construction industry.

Learn practical financial management strategies that are simple yet powerful to turn your business around. Hear real-life stories, insights on implementing the system, and the significant impact it can have on your profitability and sustainability.

The book is available now on Amazon, with special launch price of $2.99 for the Kindle edition. Don't miss out!

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⌚️ In this episode:

• 00:12 Launching Profit First for Commercial Construction
• 00:46 The Ultimate Book for Contractors
• 01:11 The Realities of Profit First
• 06:50 The Emotional Journey of Writing the Book
• 07:16 Audiobook and Future Plans
• 18:43 Understanding Job Costs and Overhead
• 19:45 The Importance of Cash Flow
• 20:42 Implementing the System: First 90 Days
• 23:34 Long-Term Benefits and Financial Freedom
• 26:02 Conclusion: A New Way to Run Your Business

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

Join Wade and Stephen as they delve into whether it's better to expand your reach or narrow your focus to boost profits. They discuss the pros and cons of both strategies, using compelling analogies and real-world examples.

Learn how to assess your own business, understand market shifts, and decide whether to specialize or diversify. This episode is perfect for contractors looking to enhance their business strategy and find sustainable success.

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⌚️ In this episode:

• 00:39 Initial Reactions: Narrowing Down vs. Branching Out
• 01:53 The Power of Specialization: Pros and Cons
• 02:34 Strategic Paths: Niche Down or Branch Out?
• 02:47 Real-World Examples and Analogies
• 04:42 Balancing Risks and Rewards
• 06:52 Economic Shifts and Market Adaptation
• 18:08 Hybrid Models and Smart Growth

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

In this eye-opening episode, Wade and Stephen delve into a critical issue that many business owners face: being their own worst enemy. They discuss how contractors may unintentionally become bottlenecks in their own businesses, and share practical ways to identify and overcome these obstacles.

Through real-world examples and 20 actionable tips, this episode aims to help business owners step back, delegate effectively, and build systems that don't rely solely on them. Whether you're a seasoned contractor or just starting out, this episode offers invaluable insights to help you scale your business and achieve greater work-life balance.

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⌚️ In this episode:

• 01:00 Understanding the Bottleneck Concept
• 01:23 Real-Life Examples and Self-Realization
• 02:40 Recognizing the Signs of Being a Bottleneck
• 04:12 Delegation and Trust Issues
• 05:34 The Importance of Taking Breaks
• 07:31 Hiring, Firing, and Employee Management
• 09:44 Building Effective Systems and Processes
• 15:57 Staying in Your Lane: Focus on Core Tasks

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

Wade and Stephen delve into the paradox of growth in the construction industry. They explore why landing bigger jobs and expanding your business may not always translate into higher profits. The discussion covers common pitfalls such as increased overhead, cash flow challenges, and bidding mistakes.They also offer practical advice on managing growth sustainably, understanding overhead allocation, and maintaining profitability.

Whether you're a contractor facing these challenges or looking to grow your business wisely, this episode provides valuable insights and actionable strategies.

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⌚️ In this episode:

• 00:32 Common Mistakes in Expanding Construction Businesses
• 01:39 The Overhead and Cash Flow Dilemma
• 03:43 The Risks of Rapid Growth
• 07:40 Bidding Practices and Financial Management
• 12:54 Strategies for Sustainable Growth
• 19:12 Conclusion: Ensuring Profitable Growth

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

Are your cash flow woes hitting you like a hammer to the thumb? Let’s talk about it.

This week, Wade and Stephen dive into the challenges contractors face with cash flow and share practical solutions to solve those issues…for good. They discuss indicators of cash flow problems, like difficulty paying bills and 'payroll panic,' while offering methods to break the cycle using the Profit First system.

Tune in to learn strategies for managing your finances and achieving long-term success in construction.

Subscribe to get notified as soon as new episodes go live.

⌚️ In this episode:

• 00:30 Identifying Cash Flow Problems
• 01:24 Common Cash Flow Challenges
• 02:59 Understanding Construction Cash Flow
• 05:35 Practical Solutions for Cash Flow Management
• 08:04 Implementing the Profit First System
• 16:12 Setting Up Financial Accounts

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

What if your relationship with your bonding company could open as many doors as having the right tools on your job site? Just like a well-built foundation supports everything above it, a solid bonding relationship can transform your building's growth potential.

Join Wade and Stephen as they discuss practical strategies to improve your bonding connections, secure bigger projects, and reduce costs. Learn about the impact of a solid bond relationship on your growth potential and how to build trust with your bond agents and underwriters. Whether you're new to surety bonding or looking to enhance your current relationships, this episode offers valuable advice to help you succeed in the construction industry.

Subscribe to get notified as soon as new episodes go live.

⌚️ In this episode:

• 00:37 Real-Life Impact of Strong Bonding
• 01:35 Building a Strong Bonding Relationship
• 02:55 Understanding the Underwriter's Perspective
• 04:04 Effective Communication Strategies
• 05:27 Long-Term Benefits of Bonding Relationships
• 06:30 Practical Steps to Improve Bonding
• 07:48 The Importance of Transparency
• 10:10 Starting and Maintaining Bonding Relationships

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

The recent tariff announcement is creating waves in the construction industry. Join Wade and Stephen as they dive into the implications of these new tariffs.

Learn about potential domestic manufacturing booms, practical strategies to navigate immediate changes, and how to position your construction business to capitalize on the new Made in America momentum.

Discover insights on price hikes, negotiation tactics, and market stability, and get advice on how contractors can adjust their practices to thrive in this evolving economic environment.

Subscribe to get notified as soon as new episodes go live.

⌚️ In this episode:
00:50 Impact of Tariffs on Construction Materials
02:45 Strategies for Contractors to Navigate Tariffs
03:16 Details of the Tariff Announcement
05:22 Opportunities and Challenges for US Manufacturing
09:17 Economic Implications of Tariffs
17:24 Practical Advice for Contractors

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

Send us a text

🔗 LINKS

Visit the episode page at for more details and a transcript of the show.

Take the FREE Construction Company Health Evaluation

ℹ ABOUT THIS EPISODE

 In this episode, Wade and Stephen discuss the pitfalls of equipment addiction among contractors. They explore how unnecessary equipment purchases can lead to financial strain and bankruptcy, despite being asset-rich.

Through the story of one contractor who experienced bankruptcy, they provide insights on breaking the equipment buying cycle, weighing the benefits of renting versus buying, and building a strategic approach to managing equipment costs.

Tune in to learn how to keep more money in your pocket instead of having it tied up in depreciating assets.

Subscribe to get notified as soon as new episodes go live.

⌚️ In this episode:
00:17 Real-Life Consequences of Equipment Addiction
01:04 Understanding the True Costs of Equipment
01:59 The Psychological Rush of Buying Equipment
03:16 Economic Conditions and Equipment Value
03:55 Renting vs. Buying: A Financial Perspective
05:11 Strategic Planning for Equipment Purchases
11:39 The Profit First Approach
18:44 Creating a Recovery Plan for Equipment Addicts
21:10 Building Wealth Beyond Equipment

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