How much do you pay your self?

It must be a good book. Alot of people left positive reviews on amazon

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Profits < 20%
Labor > 25%
Bus = 30%
Accruals = 15%

Gives 10% flex.

I just read a bit of that book and really like the concept.

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When you say LABOR are you referring to paying employees?

Yes

Hey guys check out this great thread on this topic (plenty of insight.)

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You are an employee, pay yourself as such.

Thanks, that chart is extremely helpful. I appreciate that

I find this subject pretty interesting. I am a bit surprised though, that more of you aren’t being direct with how you do this. Particularly the solo crowd.

Honestly, I wonder if this subject isn’t the major reason most don’t make it 5 years.

I do not need much. Live pretty simply and cut much of waste a few years back.

I take a set amount which provides what I need. I like keeping money in the business for “oh shit” days or seasons.

End of the year look at the money left and take what I feel comfortable with as a bonus.

Better questions may be do people get “paychecks” or “draws/distributions”

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I posted a link up above that people shared how they break things down into %.

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Like some people mentioned. Read profit first. Awesome book. Great game plan to follow

I know it’s been said already, but for those of you that are hesitating or thinking, “oh yeah, cool, I’ll do that” but didn’t already buy the book and begin reading: GET PROFIT FIRST. NOW.

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Right now.

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Ok, why didn’t you get Profit First yet??

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Stop reading this thread and get Profit First!

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Seriously, just DO IT!

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Pay yourself as little as possible at first. You could always give yourself a raise if need bee. I think in the beginning I was making/paying myself 2000 a month.

I don’t think anyone starting out can grasp exactly what your expensive are going to be. So hence as little as possible to start

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You don’t want my copy… it’s worn and full of hand written notes all over it. Plus it is opened up and used atleast once a week or two.

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It really is hard to grasp especially when you are used to working for someone else and everything is already taken from your paycheck. (Taxes and such)