How to Pay Yourself as a Business Owner?

People go into business because they think they will be able to make more money and thereby be able to finance a more comfortable lifestyle. Sadly, though, most really don't have the correct attitude and  end up strangling the business for cash. In doing so, their business fails. Study shows that 95% of businesses fail during the first 5 to 10 years. Take advantage of this episode to learn what you need to keep in mind when starting a business and pay yourself as a business owner.

Here are a few insights you’ll hear in today’s show…

  • Why do people go into business?
  • Why do the majority or 95% of people going into business fail within the first 5 to 10 years?
  • The difference between re-investing and overspending.
  • How do business owners know how much money to take home money and how much to re-invest back into the business?
  • What are money leaks in the business?
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About the Author

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.

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Change your profitability and stop feeling like you are working so hard just to make sure you can make payroll each month, with the Profit Plan method.