The thing is, we’re not just business owners, we’re people with families, retirement goals and any host of other responsibilities.
You can’t separate yourself, your life and your future from your business.
If you’re not looking at where your family income needs to be now and in the future, if you’re not considering what you want your relationship to your business to be in the next 5-10 years, if you’re not PAYING YOURSELF then you’re walking a dangerous line that might not go the way you want it to.
When I start talking with business owners about their long-term goals I always ask how well they pay themselves, and you'd be shocked to know how many are barely paying themselves.
Fewer still intentionally take profit dividends from the company.
Believing that if you work hard and sacrifice you’ll get a big payout someday in the future is NOT A PLAN. For most entrepreneurs, it’s a fairytale.
Let’s be real. If you’re not paying yourself enough to support a comfortable lifestyle, family and future then you’re not going to be happy or thriving in your business. By the time you (and your family) start to resent your business you’ll be running short on options.
Funding your family needs first should be a top priority for every business owner.
In order to set realistic business goals you also have to be real about your family economy and how much you need in cash, savings and retirement funds.
You cannot separate your personal needs from your business goals.
If you’re a business owner and you’re not satisfied with your take-home pay, its time to integrate your personal financial needs, your future needs and your business financial strategy.
To make a solid plan for yourself, your business, your family and your future, schedule a call with me. On the call I’ll do an instant profit assessment of your business and we’ll discuss how your business can serve you better. A financial strategy call with me is free, whereas miscalculating your financial needs might cost you everything.