Bottom Line Builders

Financial Best Practices for Sustainable Growth

In an industry where managing expenses can make or break a business, BCMC education session, Bottom Line Builders: Financial Best Practices for Sustainable Growth, stood out for its candor, practicality, and immediate takeaways. The session offered attendees a behind-the-scenes look at what it takes to build a strong, financially resilient company, one capable of weathering uncertainty, while sustaining growth, and protecting profits even in unpredictable markets.

Led by Chris Breedlove, President of Ace Carpentry, the session delivered a deep dive into the financial fundamentals every contractor, framer, and component manufacturer should understand. Chris made it clear from the start that this wasn’t a CPA lecture, but rather an open conversation from one business leader to another about the systems, relationships, and daily habits that drive financial stability, like the value of solid contracts and payment terms. Attendees were reminded that project success starts long before a project breaks ground. Reviewing both subcontract and prime contracts in detail – especially for new clients – can prevent costly surprises later. Understanding who the stakeholders and lenders are, confirming that financing is secured at “Notice to Proceed,” and clarifying time-dependent clauses, all play a critical role in maintaining cash flow. He encouraged companies to lock in material factors early, define schedules in writing, and separate labor and material contracts when it makes sense to. The takeaway was simple: know the details before you sign, because every clause affects the bottom line.

Project specific cash flow as part of the contract was discussed which piqued the interest of the many attendees. Chris noted that these two areas can quietly choke a business’s cash flow if not managed proactively. With subs often waiting 45–90 days to be paid while vendors expect payment in 30, contractors are effectively financing projects for their clients. Negotiating payment terms that work for your company, understanding state laws regarding “pay if paid” and “pay when paid” clauses, and exploring quick-pay options should all be implemented when feasible. On retainage, he urged attendees to know the rules and business practices the state in which the project is located in and to negotiate reductions based on milestones to ensure the same extended yet balanced terms flow downstream to suppliers and subcontractors. 

The session broadened to the relationships that keep a company financially strong. In regard to sureties, insurers, bankers, and accountants, Chris offered some recurring advice: meet regularly, tell your story, and build trust before you need it. For bonding and insurance, history and transparency matter. Sureties and underwriters want to see that you understand your risks and know how to manage them. When it comes to banking, knowing when to borrow, negotiating personal guarantees, and maintaining an open line of credit can provide the liquidity needed to seize opportunities or weather slow periods. The same is true for accountants. Those who truly understand your company’s tax strategy and structure can help you make better, faster decisions. 

This impacts what Chris identified as a critically important step to achieving sustainable growth: periodic disciplined financial reviews. Weekly or biweekly check-ins on cash balances, retainage balances by project, billing status, and accounts receivable keep teams proactive instead of reactive. Monthly job budget updates, cash flow projections, and work-in-progress reports reveal where projects stand before problems become crises. He encouraged attendees to master their job costing, organize expenses into logical categories, and track actual costs against benchmarks to build accurate budgets for future work. Technology and data visualization can help in many of those reviews. Real-time reporting, automated accounting, and integrated project management systems can reduce manual errors and give leaders a clearer picture of their financial health. 

Before wrapping up the session, Chris circled back to the human side of financial strength: staffing and training. Cross-training employees, holding regular company-wide updates, and maintaining transparency around financial performance builds accountability and shared understanding. He encouraged attendees to document processes and invest in education, noting that hiring costs time and money. Training builds culture and capability.

Chris’s message was unmistakable: sustainable growth doesn’t come from chasing revenue. It comes from managing cash, protecting margins, and making smart, informed decisions every single day. From contract clauses to contingency planning, every detail contributes to the bottom line.