The Secret to a Sustainable Business, Part 1
How much are you paying yourself? If you’re like most early stage entrepreneurs, the answer is not very much. Most people starting a business feel they can delay paying themselves, often never making enough to take a real salary. According to a Columbia Business School report, only 20% of women-owned firms have revenues in excess of $50,000.
Your time, work and talent are worth far more that what you’re paying out. With all the expenses that come with building a business, it’s understandable if you’re tempted to put your needs last. But your business will only grow as much as you do – and that includes your personal bank account.
So how do you overcome penny-pinching your payroll? We’ve created a worksheet to help you shift your mindset.
Download: How Paying Yourself Will Help Your Business Grow
To get some ideas about founders’ salaries, check out this informative salary chart we found.
What other finance lessons have you learned that helped your business grow? Share your insights on Facebook and Twitter.