Amplified Impact with Anthony Vicino When Should You Start Paying Yourself? | Ep. 287
So you started a business, and things are going great. You're killing it... you're inevitably going to ask yourself "When should I start paying myself?"
When you've created a sustainable business, you're ensuring you can afford to pay yourself fairly. This not only benefits you, but also lays the foundation for future growth and the ability to step back. So here are the steps I took when decided it was time to start paying myself:
Establish financial stability for yourself first.
Determine your ideal profit margin.
Pay yourself the difference to reach that margin.
Aim to pay yourself market rate as soon as possible.
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