10 Guaranteed Ways to Go BROKE as a Contractor in 2025 (Don't Do This!)
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â„ą ABOUT THIS EPISODE
A satirical look at contractor failure!
Wade and Stephen reveal the 10 most common mistakes that send construction businesses straight to bankruptcy.
From pricing jobs like favors to ignoring cash flow, this reverse-psychology approach shows exactly what NOT to do to protect your profits.
Learn why fancy trucks before profitability, poor bookkeeping, and chasing slow-paying jobs are business killers. Perfect for contractors who want to identify dangerous patterns in their own operations.
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⌚️ Key mistakes we cover in this episode:
- 00:00 Introduction to the Satirical Guide
- 00:49 Pricing Jobs Like Favors
- 02:39 Buying Fancy Trucks Before Profit
- 04:49 Keeping Your Bookkeeper in the Dark
- 06:03 Paying Everyone Else Before Yourself
- 07:18 Treating Tax Time Like a Surprise Party
- 08:08 Chasing Big Jobs with Long Payment Terms
- 08:53 Never Saying No to a Job
- 09:53 Letting the Crew Manage Themselves
- 10:44 Skipping Budgets for Tools
- 11:53 Pretending Profit is a Bonus
- 13:05 Bonus Tip: Ignoring Red Flags
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
United States
