Tag Finances

I’m a Success, but Not Financially

Imagine it’s family game night. Fun right? (I know, not what you expected when you clicked on this link, stay with me…) You pull out Jenga. Because everyone likes Jenga and it’s simple: re-stack the blocks without f’ing everything up and making it fall over. I play Jenga every single day of my life. Only this edition of Jenga is called, “finances as a start up business owner.” It’s not quite as fun, or simple… If I pay the gas bill today, will it be too late to pay my AT&T bill in 3 days without my phone shutting off? Because if it does get shut off, how on earth do I run my business? Can I buy groceries today without having to ask for another extension on my rent due date? How big of an anxiety attack will I have if I spend an hour catching up on my bookkeeping

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When to Start Paying Yourself as a Business Owner

When you are starting a business, the last thing you should be thinking about is paying yourself. What you should be thinking about is your budget and/or funding you may need to get your business off the ground. RELATED: How to Set Your Business Up for Financial Success Let’s fast forward a little bit. You are 2-3 years in. You are selling products, services or both and there is money coming in. (If there is no money coming in you need to make a change – that’s for another article.) Generally, if you are selling products when a product sells you make a profit. It really is that simple and at some point you should pay yourself for all of the hard work you have done. With business, like your personal life you have several expenses – some variable and some not that you pay monthly. This is where a lot

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