-
Set Up Your Small Business To Be Financially Healthy - Part 5 (Put Profits First)
- 2021/04/26
- 再生時間: 13 分
- ポッドキャスト
-
サマリー
あらすじ・解説
In this episode, I talk about how to set up your small business to be financially healthy - from the viewpoint of making sure that you put profit at the forefront of everything you do in your business.
What you need to do is to establish a minimum profit level of the business This is the profit level you desire after you have paid yourself your consistent salary level.
And before you make any other allocations from the sales income for the month you allocate profits by transferring them to savings.
Then we follow a simple system:
- profit allocation into a savings account
- tax allocation
- pay yourself - your consistent salary
- pay your other employees
- pay your ongoing costs - website, accountant etc - costs that are fixed
- what's left is for expenses