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

The School of Greatness

CHAPTER

You've Got to Pay Yourself First, Right?

"You've got to pay yourself at least $100,000 for all that you're creating," he says. "If we don't pay ourselves first, we start resenting our business and start owning us." TAPS stands for the acronyms, 'target allocation percentages' The healthiest of these companies run at certain percentages,. And interestingly, a business that does a million dollars in revenue, I found some companies were taking upwards of 20%.

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