Optimal Work Daily - Career, Productivity and Entrepreneurship 1681: Make A Profit After Paying Yourself by Paula Pant of Afford Anything on Entrepreneurship Advice
May 8, 2025
Dive into the nuances of entrepreneurship as Paula Pant unpacks a common misstep: conflating personal pay with business profit. She highlights the crucial distinction between being an investor and a general manager. Understanding this difference can transform how you view true profitability. Additionally, she stresses the importance of recognizing your own labor costs to gain clarity on what profit really means. With insightful quotes and practical advice, you'll rethink your approach to money in business.
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Investor vs. Worker Role Confusion
- Paula Pant shares her experience confusing her role as an investor with that of a project manager.
- She realized valuing her own labor at zero masked true business profitability.
Differentiating Profit from Paycheck
- Treat investor and employee roles distinctly to avoid misunderstanding profits.
- True profit is what remains after paying yourself a fair wage for your work.
Pay Yourself Fairly
- Pay yourself a fair wage for the work you do in your business.
- Delegate tasks and factor labor costs into business expenses to see true profit.