Professional Builders Secrets

45. How Much Builders Should Pay Themselves With Russ Stephens

Listen Later

In episode 45 of the Professional Builders Secrets podcast, we’re joined by Co-founder of the Association of Professional Builders Russ Stephens. Throughout this episode, we go over exactly how much building company owners should be paying themselves.



INSIDE EPISODE 45 YOU WILL DISCOVER

  • How much the owner of a building company should pay themselves, and if they’re actually paying themselves enough
  • The key measurements an owner needs to consider when allocating their salary
  • How to calculate your true fixed expenses
  • When you should start to become concerned about your finances
  • How to become more proactive with your finances
  • And much, much more.


    • Listen to the full episode to find out exactly how you can take control over your finances and pay yourself a salary you deserve, while not letting anything else slip.


    ABOUT RUSS STEPHENS


    Co-founder of the Association of Professional Builders, Russ is a data analysis expert who has introduced data-driven decision making to the residential construction industry. Russ is also a proud member of the Forbes Business Development Council.


    Connect with Russ: linkedin.com/in/russstephens



    TIMELINE

    • 1:48 Builders don’t take a regular salary
    • 3:10 Do builders pay themselves enough – and why not?
    • 4:59 Should owners pay themselves first?
    • 8:10 Designing a financial compensation plan
    • 9:59 Why wages don’t fluctuate
    • 11:26 Salary allocation, net profit and shareholder returns
    • 13:13 Documenting owner’s salary payments
    • 15:14 Factoring in true expenses
    • 16:10 Accuracy and the WIPAA calculator
    • 17:06 Key measurements to consider when paying the owner
    • 18:19 Including incentives for the owner
    • 19:47 How APB helps identify builders’ blind spots
    • 22:04 Factoring in cash reserves
    • 27:57 When to be concerned about your financial model
    • 30:33 Becoming proactive with your finances



      • LINKS, RESOURCES & MORE


      Professional Builders Secrets Book: go.associationofprofessionalbuilders.com/pbs-book


      APB Website: associationofprofessionalbuilders.com


      APB on Instagram: instagram.com/apbbuilders/


      APB on Facebook: facebook.com/associationofprofessionalbuilders


      APB on YouTube: youtube.com/c/associationofprofessionalbuilders


      Join the Professional Builders Secrets Facebook group for builders & connect with professional builders world-wide: facebook.com/groups/builderssecrets

      ...more
      View all episodesView all episodes
      Download on the App Store
      Professional Builders SecretsBy Association of Professional Builders
      • 4.6
      • 4.6
      • 4.6
      • 4.6
      • 4.6

      4.6

      10 ratings

      More shows like Professional Builders Secrets

      View all
      The Cardone Zone by Grant Cardone

      The Cardone Zone

      3,912 Listeners

      Joel Osteen Podcast by Joel Osteen, SiriusXM

      Joel Osteen Podcast

      24,515 Listeners

      The Mentor with Mark Bouris by Mentored.com.au

      The Mentor with Mark Bouris

      48 Listeners

      Founders by David Senra

      Founders

      2,170 Listeners

      Modern Craftsman by Modern Craftsman

      Modern Craftsman

      1,139 Listeners

      The Game with Alex Hormozi by Alex Hormozi

      The Game with Alex Hormozi

      4,461 Listeners

      UnBuild It Podcast by Unbuild It Podcast

      UnBuild It Podcast

      230 Listeners

      Contractor Evolution by Breakthrough Academy

      Contractor Evolution

      51 Listeners

      The Builders Ladder: Business Growth Strategies for Residential Construction Businesses by The Professional Builder

      The Builders Ladder: Business Growth Strategies for Residential Construction Businesses

      0 Listeners

      Wealthy Way by Ryan Pineda

      Wealthy Way

      2,132 Listeners

      The Build Show Podcast by Matt Risinger

      The Build Show Podcast

      370 Listeners

      The "Level Up" with Duayne Pearce Podcast by Duayne Pearce

      The "Level Up" with Duayne Pearce Podcast

      0 Listeners

      The Build Insite Podcast by Build Insite

      The Build Insite Podcast

      0 Listeners

      Inspired Builders Podcast by Bizvideo

      Inspired Builders Podcast

      0 Listeners

      The Builders Coach Show by Kurt Hegetschweiler

      The Builders Coach Show

      0 Listeners