Episode 205: Profit vs Owner's Salary - Business Tip of the Month with Hal Denbar of National Pool Partners

Episode Summary: In this edition of Business Tip of the Month, we’re joined by NPP’s President of Texas Hal Denbar. Listen in as Hal breaks down the important but often misunderstood distinction between making a profit and paying yourself as a business owner. He also explains the advantages of having an accountant and how to build a healthy pool business using the profit-first model. Topics Discussed: 01:14 - Defining the problem 02:37 - Profit versus owner’s salary 04:29 - The advantages of having an accountant 05:12 - Misconceptions around profit and salary 07:18 - Making it a habit to check your numbers 10:57 - Using the profit-first model 15:55 - Determining how much to pay yourself 18:18 - What counts as a “healthy” pool business