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The Profit Paradox: Why Growing Your Construction Business Can Hurt Your Bottom Line
Manage episode 480903395 series 3314227
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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
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com
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