The Best Business Advice I’ve Ever Received
December 10, 2007 by Bridget Wright
Filed under Business
An entrepreneur should pay themselves first when budgeting expenditures. This possibly defies business logic since the standard is to roll profits back into the business. But here’s the logic: paying yourself first shows that you value yourself as a businessowner. This can motivate entrepreneurs to continue to pursue business success.
Tags: women and business, business advice
Love it. This is something my husband and I are working on right now. I haven’t been giving myself a paycheck, but transferring money into our household account from my business bank account when we need stuff. But it’s time to start paying myself (and my savings account, and Uncle Sam) first and then working with what’s left. So now I just have to figure out my new “salary.” :]
kk
Love the photo and I agree with the advice. Like anything else, it’s a habit. Once you get that habit, you won’t feel the pain, and you’ll feel better about working so hard.
Jean