How Much $$$ Should You Pay Yourself In the Early Years Of Growing A Business?
I love this question - simply because it really starts to separate the “solo-practitioners” - from the “business owners”.
In the beginning of growing a business, no body really thinks about anything except paying the bills.
At first you want to survive, then you want to enjoy some breathing space - and hopefully a couple of years later, you want to enjoy the fruits of your profits with a nice take home pay that lets you live the life you want.
And all that happened to me - until I realized that what I really wanted from my business was something I call “long-term wealth creation”…
I didn’t want a high paid job!
I wanted an asset that would pay me the same income wether I was there each day or not. Being in that situation now is “sweet” - but getting there came with a lot of pain!
I had to take a “$100K” per year pay CUT and re-invest the money back into staff, systems, business coaching and everything else that was required of me to get to this point I am at now.
What would I do if I had my time and I was starting again? Would I have re-invested earlier? Here’s what I recommend you do if you are wanting to get from working your business - to having your business in a situation that it is a long-term wealth generator for you…
Thumbnail image: with Amy Pakula, one of Montana’s top PT Business Owners, at Paul’s recent Mastermind Event in San Diego.
If you want to work personally with Paul, here’s how to find out about his upcoming Marketing Workshop Events: www.ptprofitacademy.com/profits-workshop
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