Pay Yourself First

Pay Yourself First

 

 
I had left my high-paying corporate career and whilst it looked like I was free there was one big problem…
 
I needed to replace my income from my former job.
 
During this time I learned an important business principle:
 
As an entrepreneur, you can’t count on a paycheck so you need to pay yourself first.
 
I ended up paying everyone but myself!
 
This was causing me and my family great stress.
 
With my family’s financial security on the line, I:
 
– Put a percentage of my monthly earnings in savings.
 
– Stopped spending money on nice-to-haves and saved wisely.
 
– Created a strategy to minimise risk due to the uncertainty of business
 
– Looked at my budgeting as a percentage rather than a dollar amount.
 
– Explored the possibility of opening up different forms of savings accounts.
 
Next thing you know, I was able to take the appropriate financial steps for both my business and my family.
 
I gained financial security and freedom to be a real father to my kids..
 
I also sought out a group of like-minded individuals with clear business goals.
 
Now, I fund research for a disease that’s easily caused drinking the sugary drinks I use to sell.
 
So if you’re struggling to make your business sustainable, ask yourself:
 
Am I creating a business that allows me to pay myself first?



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