As an entrepreneur, are you getting a paycheck every two weeks, every month or any other time? Or are you simply continuing to put everything back into your business and only pulling out money for yourself when it’s absolutely necessary?
Though many people fall into this kind of trap, it’s a bad idea and not a long-term solution at all. If you’re making any kind of a profit (and if you aren’t, it’s time to rethink your sales and marketing plans), you need to start paying the top dog — YOU!
How much should you give yourself as a salary? It all depends upon a number of factors… which is where the help of a virtual CFO can come in handy. A virtual CFO will assist you in making sure that the paycheck you receive is fair without hurting your company.
Remember — taking a paycheck isn’t selfish. It’s a smart business move.
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