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93 Why You Have to Pay Profits to Yourself First with Mike Michalowicz

The School of Greatness

CHAPTER

What Are Your Taps?

A million dollar company was only incurring maybe 50% or 40% in operational expenses, payroll, brand. So what I tell a business is you need to know what your taps are. And if you've never taken a profit before, don't start with 15% or 10%. Start with 1%. Then every quarter, every 90 days amplify it. Every 90 days add another percent, then another percent. Slowly start building up and allocate more and more over time so you can adjust to it.

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