Episode 45: How Much Builders Should Pay Themselves With Russ Stephens

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.

Episode 45: How Much Builders Should Pay Themselves With Russ Stephens

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.

Show Notes
Transcript

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 measurments 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.

 

Russ Stephens - Co-founder

Russ Stephens is a Co-founder of the Association of Professional Builders, a business coaching company dedicated to improving the residential construction industry for both builders and consumers. 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

 

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

APB Website
APB on Instagram
APB on Facebook
APB on YouTube

Join the Professional Builders Secrets Facebook group for builders & connect with professional builders world-wide.