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. 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