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Business strategy
Should You Pay Yourself As A Business Owner?
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[QUOTE="Jasz, post: 255602, member: 61772"] Self-employed business owners are often tempted to save money by paying themselves less than they are worth. But if you aren't careful, that can backfire. The reason is simple: When you pay yourself too little, your business expenses exceed income, and it becomes harder to make payroll. This could leave you in a situation where you have more debt than business cash flow and no way to pay down the debt. And if you're struggling with debt, then it's unlikely that your customers will be able to pay their bills either. So what should you do? The answer is simple: Pay yourself what you're worth! This doesn't mean that businesses need to pay themselves huge salaries or bonuses every year — but it does mean that they should treat their employees like any other expense in their business plan. If you work you get paid. And what is the essence of working and not getting paid? In short, paying yourself will let you checkmate yourself on how you spend inflow from your business, you. You get disciplined on how you spend your company's returns. [/QUOTE]
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Should You Pay Yourself As A Business Owner?
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