Bonding Pitfalls and How to Avoid Them – Real Case Studies

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Getting bonded as a contractor can feel like navigating a maze. Join Wade Carpenter and Stephen Brown of McDaniel Whitley Bonding and Insurance in part three of our series on contractor bonding. This episode dives into real-life case studies to uncover valuable lessons for getting bonded successfully.

Learn about the challenges of single large clients, territory issues, experience factors, high turnover rates, unstable project pipelines, high operating expenses, and specialized high-risk projects. Tune in for expert insights and practical advice to enhance your bonding process.

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Topics Wade and Stephen cover on this episode:

• 00:20 Welcome to the Contractor Success Forum
• 00:41 Understanding Case Studies
• 01:10 Challenges with Single Large Clients
• 02:24 Experience and Reputation in Bonding
• 04:36 High Turnover and Its Impact
• 06:28 Backlog and Project Pipeline
• 08:07 Subcontractor Bonding Issues
• 09:30 Financial Planning and Overhead
• 13:56 High-Risk Projects

LINKS
🚨 Apply to beta test Wade's Profit First for Commercial Construction system (for FREE!)

Visit the episode page at https://carpentercpas.com/getbonded3 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