The $100 MBA Show MBA1259 How Much to Pay Yourself When Starting a Business
What are you worth to your company?
When creating a business plan, new entrepreneurs often forget to budget for one extremely important item: their own salary. Thing is, your personal financial health is just as important to your business as any other factor — especially if you’re pursuing entrepreneurship full-time.
You can’t short yourself, but you can’t short your business either. Today, we share our formula for determining the right number for your company. You can strike a healthy balance between your needs and your business budget, even if you have to adjust the former for the sake of the latter.
It’s an extremely important decision, one that deserves some extra thought. Click Play!
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