157 | How Do I Pay Myself As A Business Owner with Katie Hunt

Hey friends! Are you making sure to pay yourself for your work? There’s often a big misconception that only new business owners struggle with how to pay themselves for their time, effort and expertise. However, it’s no secret that both new and experienced entrepreneurs run into this problem from time to time.   I wanted to make things a little easier for you so in this episode I shared two simple strategies for how to pay yourself based on where you’re at in your business. You’ll hear why you need to pay yourself, how to choose a format of payment that works for you and why you should get on a payment schedule. I also explored why you should keep it simple (and automate where possible), the importance of revisiting your numbers as things change and of course, why you should seek advice from a CPA or financial planner.   ON TODAY’S EPISODE:  The misconception that only new business owners struggle with paying themselves How I paid myself at the beginning of my business  My recommendations for paying yourself as an experienced business owner How you can look at data and analytics as a point of reference in when making decisions about how much to pay yourself What to look at when deciding how to use your profits  For full show notes and resources, head to: bit.ly/PTPEp157 Small Wins Lead to Big Wins Building a business is a long game, won with patience, fortitude, intentional decisions and passion.​ ​​Slow sustainable growth is how strong businesses are built and we want to help you get there. ​Join the wait list for Proof to Product Labs, our new group coaching experience coming soon!     SUBSCRIBE To subscribe on iOS, go to the iTunes page and subscribe to Proof to Product. On Android, you can listen using your favorite podcast app.  WRITE A REVIEW Writing a review on iTunes will help other product based business owners find Proof to Product as they are working to up level, scale, and build profitable and sustainable companies. FOLLOW PROOF TO PRODUCT Follow Proof to Product on Instagram for the latest updates. JOIN OUR EMAIL LIST If you'd like to receive more information about our upcoming episodes of Proof to Product including show notes and information about our guests, head over to www.prooftoproduct.com and sign up for our email list.   SHARE Be sure to share Proof to Product with all of the product based business owners that you know!  ABOUT PROOF TO PRODUCT: Proof to Product is hosted by Katie Hunt. Since 2011, Proof to Product has worked with thousands of product based businesses to help them up level, scale, and build profitable sustainable companies. You can find our show notes and additional resources at ProofToProduct.com. If you like what you heard today, please head over to Apple Podcast to leave a five star review and subscribe. Thanks so much for listening. We'll be back next week with a new episode!