EPISODE · Feb 18, 2021 · 29 MIN
"How To Manage Your Finances" The Inventive Journey Podcast For Entrepreneurs w/ Paul Adams
from 🎙 Inventive Journey | Real Stories From the Startup Survival Club
So one of the first things we suggest for business owners that are starting to launch and grow is, at a minimum, start paying yourself a salary. That's equal to what you have to pay somebody else to do the job that you are doing. The first starter is to make sure the business is viable. If you had a CEO of a company, and what you need to pay them is 120,000 a year, and you can't pay yourself that, that becomes your first check that the business needs to grow and produce more cash flow.
What this episode covers
So one of the first things we suggest for business owners that are starting to launch and grow is, at a minimum, start paying yourself a salary. That's equal to what you have to pay somebody else to do the job that you are doing. The first starter is to make sure the business is viable. If you had a CEO of a company, and what you need to pay them is 120,000 a year, and you can't pay yourself that, that becomes your first check that the business needs to grow and produce more cash flow.
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"How To Manage Your Finances" The Inventive Journey Podcast For Entrepreneurs w/ Paul Adams
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