Unconventional Wisdom in Construction Industry Success

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In a traditional business, there is conventional wisdom that generally holds true no matter what. Construction is an industry with several of its own differences that defy a traditional solution. Today we are exploring some of those things and why you shouldn't always listen to the common answer, because it might not all be true.
Topics we cover in this episode include:

• Myth: If I get to X dollars in reenue, life will be easier
• Myth: Accounting is the same for construction as it is for other industries
• Misconceptions around subcontractors being bonded back
• Myth: I always have to be the lowest bidder
• Myth: all projects are similar
• Myth: Profitability is solely about cutting costs

LINKS
Visit the episode page at https://carpentercpas.com/misconceptions for more details and a transcript of the show.
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com

Capíttulos

1. 144. Unconventional Wisdom in Construction Industry Success (00:00:00)

2. Myth: If I get to X dollars in reenue, life will be easier (00:01:05)

3. Myth: Accounting is the same for construction as it is for other industries (00:04:02)

4. Misconceptions around subcontractors being bonded back (00:09:44)

5. Myth: I always have to be the lowest bidder (00:12:19)

6. Myth: all projects are similar (00:15:17)

7. Myth: Profitability is solely about cutting costs (00:17:41)