He Would Get a Job So His Facebook Ads Guy Could Keep His

A guy posted on Reddit asking whether it is normal that some months he profits and some months he does not pay himself. We ended up calling him Bob, because Reddit does not hand you a name. Four years in, consistently profitable, right up until he hired an employee to run Facebook ads and an Upwork contractor for email marketing. Now he alternates between profit and loss, skips his own paycheck, and is thinking about getting a job to cover the business. Read that back slowly. He would go get a job so the person he hired to make Facebook ads can keep hers. There are two separate problems inside his one sentence. Profit and cash are not the same thing, and your profit and loss statement does not show your debt payments, so whether you got paid is not the test of whether the month was profitable. And marketing is not your first hire. It is nowhere near your first hire.Book a Free Call with PennyConnect with us:FacebookInstagramLinkedIn1610 Financial SolutionsTakeaways:Getting paid is not the test of whether the month was profitable, because your profit and loss statement does not include your debt payments.If you are spending more on marketing and making less, more marketing is not the answer to that. The numbers are.Learn enough about the work you hire out to judge whether it is being done well, or you can neither keep that person honestly nor fire them fairly.Marketing is the third rung on Dan Martell's replacement ladder, not the first, so hiring it early usually means you skipped the two hires that would have actually bought back your time.Whatever you could hide about your money habits as an employee gets magnified when you own the business, because you brought the same habits with you.This show is for general information and encouragement. It is not tax, financial or legal advice. Please consult a professional about your particular situation before you make any decisions.