Financial Intelligence: Why You Should Pay Yourself First
Update: 2025-03-18
Description
Wellness creators need to shift away from passive financial management where they hope there's money left over after expenses to pay themselves. Instead of viewing profit as an afterthought, entrepreneurs should intentionally decide their compensation first and then adjust business expenses accordingly, as this intentional approach to paying yourself - even if starting small - creates momentum for sustainable business growth.
Key Takeaways:
- Start paying yourself something, even if small, from year one
- Decide your compensation first, then adjust expenses accordingly
- Set small monthly increases rather than intimidating annual targets
- Track your revenue-to-salary percentages regularly
- Create clear boundaries between business and personal finances
- Resist paying yourself only leftover profits
References
Marvelous Software Platform
Well Well Well Marketplace
References:
Marvelous Software Platform
Well Well Well Marketplace
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