APB SUMMIT 2024: BECOMING A PROFESSIONAL BUILDER

Summary

The panel discussion features experienced builders Ryan Stanard, Kieran Moore, and Norm Wales, who share their journeys of becoming professional builders. They discuss the structured process that led to their success, focusing on financial management, marketing strategies, gross and net profit margins, and effective team-building systems. Key insights include the importance of a growth mindset, financial literacy, and the value of learning from others. The panel emphasizes the necessity of hard work and dedication to achieving the $10 million revenue, 10% net profit, and $500,000 owner's remuneration needed for certification as a professional builder.

Takeaways

• 😀 Understanding your financials is crucial for business success. Knowing your overheads, gross margins, and net profit can guide decision-making and ensure profitability.
• 😀 Systematization is key to scaling a business. Creating structured processes and manuals helps teams stay aligned, even when the owner isn't present.
• 😀 Building a strong, reliable team is essential. A well-trained team that understands the processes can operate effectively, even with minimal supervision.
• 😀 A growth mindset is fundamental. Always be open to learning and applying new knowledge, whether it's about business processes or personal development.
• 😀 Persistence and resilience are vital in the construction industry. Success comes from not giving up, especially when faced with difficult challenges.
• 😀 Following a proven system is crucial for overcoming obstacles. Implementing structured methodologies like those offered by APB can help streamline operations and improve outcomes.
• 😀 Industry benchmarks, like profit margins, are important to track and understand. Knowing where your business stands compared to industry standards is essential for growth.
• 😀 Continuous learning, through resources like audiobooks and podcasts, is necessary for personal and professional growth. Seek content that inspires and challenges you.
• 😀 Networking and mentorship can provide valuable insights. Engaging with others in the industry helps expand knowledge and gain practical advice.
• 😀 The road to becoming a successful builder is not a quick fix. It requires hard work, dedication, and an ongoing commitment to improvement.

Q & A

What was the main focus of the panel discussion?

The main focus of the panel discussion was to share insights about becoming a professional builder, focusing on the steps involved, the systems that helped panelists succeed, and the importance of mindset, financial knowledge, and continuous improvement in the building industry.

What role did the APB program play in the success of the panelists?

The APB program provided a structured framework that the panelists followed, helping them scale their businesses, improve profitability, and create effective systems. They emphasized that the program offered clear guidelines but success also relied on hard work and persistence.

How did Kieran Moore focus on improving his business?

Kieran Moore focused on improving his net margins and emphasized the importance of understanding and managing financials. He also worked on creating marketing assets like a website and focused on systematizing his business to allow for scalability.

What financial practices did the panelists highlight as important for success?

The panelists highlighted the importance of understanding financials, tracking both gross and net profit margins, reviewing financials regularly, and aligning with industry benchmarks. They stressed the significance of keeping overheads under control and ensuring financial transparency.

What specific systems did the panelists use to manage their businesses?

The panelists used various systems to manage their businesses, including creating company manuals, setting KPIs, using tools like System Hub to document processes, and implementing financial tracking tools. These systems helped streamline operations and allowed for better delegation and consistency.

How did Ryan Stanard’s approach to becoming a level 10 builder differ from others?

Ryan Stanard became the first certified level 10 builder by following the APB process, despite initially doubting its effectiveness. He focused on understanding financial metrics, following the system, and prioritizing consistency and growth. His success was driven by persistent effort and embracing the APB structure.

What did Norm Wales recommend for improving a business's team management?

Norm recommended creating a comprehensive company manual, both in written and video format, to clarify expectations and responsibilities for the team. This approach helped improve communication, reduce mistakes, and ensure consistency across the business.

What role does mindset play in the success of a builder, according to the panelists?

Mindset is crucial to success, according to the panelists. They emphasized adopting a growth mindset, focusing on continuous learning, and persevering through challenges. They also advised aspiring builders to be patient and tackle challenges one step at a time.

Can you recommend any resources for aspiring builders?

Yes, Norm recommended audiobooks like *The Twist* and *The Happiest Man on Earth* for inspiration. Ryan suggested subscribing to *The Builder's Edge* podcast for ongoing insights. These resources provide valuable perspectives on personal growth and professional development.

What advice did the panelists give to someone aspiring to become a builder?

The panelists advised aspiring builders to join the APB program as a first step. They emphasized the importance of following a structured path, gaining a deep understanding of financials, and continuously improving skills while staying patient and persistent throughout the process.