#156 – How to Calculate How Much You Should Pay Yourself (The Method We Use)

What You Will Learn

  • Why you should pay yourself first
  • How we manage our salaries and revenue
  • Why knowing your taxes is super important for efficient finances
  • A bunch of mindset traps many business owners fall into

For most people, running online businesses will be like a roller coaster ride. You will have years where you make a lot more than most people, and years where retrospectively, working at McDonald’s would have been a better idea.

Because of this fairly extreme uncertainty, the question of how much should you pay yourself is not as straightforward as you think it might be.

In today’s episode, we will attempt to breakdown the different models you can use to know exactly how much money you should take out of your business to make the most of it in times of growth, and in times of, well…. not growth.