EP 43: “Paying Your Dues” Doesn’t Have to Last ForeverJul 13, 2023
Does Your Business Have Legs?
I know that on the good days you feel so fulfilled that you swear you’d do this work for free. You’re having fun, you’re serving, and you feel appreciated! But, how do you feel on the hard days? On the hard days do you feel like throwing in the towel?
I want to talk to you about the financial aspects of being a founder. We know going in that as a small business owner we need to “pay our dues.” In fact, we might not be paying ourselves very much at all while the business is starting out, but we need a strategy for moving info profitability.
Topics we cover:
- 4:18 - It can be discouraging to endure the hard days in our business when we don’t even feel like we are paying ourselves enough.
- 7:21 - There’s a problem when founders’ main marketing success comes from word of mouth, but they are spending most of their allocated marketing time selling on social media. We need to make sure our hours are spent on tasks that add value.
- 8:58 - Let’s run through this paying exercise with a product-based business.
- 14:43 - What does the business need to make each month to sustain itself?
It’s important you understand how valuable your duties are in your business and that you pay yourself accordingly so that we can feel an equal energy exchange. It’s the only way to really make it through the ups and downs of business.
The School for Small Business Podcast is a proud member of the Female Alliance Media.
To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.
Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!