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