Australian Business Podcast episode #12 is now live on the Rask network: when you get paid.

Many Australian small business owners will work months at a time, without a day off.

Many of us do 10-12 hour days, sacrificing time with family and friends.

Most of us will work for weeks, months or years — without taking a salary.

All of us take our work home, whether we show it or not.

This is normal.

As a result, I often see many of us going a long time without putting ourselves first.

In part 12 of The Australian Business Podcast I simply want to remind you that it's okay to pay yourself -- and to pay yourself well.

What's your ramen number? 

As my shareholder told me, your 'ramen number' is the absolute minimum amount of money it takes to keep your business running -- the bare essentials. Calculating your ramen number means stripping your business back to only the absolute essentials.

Every business should know their ramen number -- because it'll help you prioritise your spending, make bigger profits and discover new ways to be profitable.

Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify.

If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.

Podcast resources

• Owen Rask’s free business course
  


• Ask a question


• Email Owen


• Business Podcast show notes

Say G'day to The Australian Business Podcast partners

 Rask – Get Owen’s best investing research

The Australian Business Podcast’s official sponsor is Rask, our very own company. We empower hundreds of thousands of investors around Australia, whether you’re new or have been investing for 40 years. You can take an investing course on Rask Education to discover how Owen carefully researches small or blue chip companies, or become a premium Rask member today to speak directly with Owen and see what he is investing in.

 Rumble Coffee Roasters — our first partner!

Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike.

They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you.

***

The information on this website and in our podcasts is general financial advice only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website.

Learn more about your ad choices. Visit megaphone.fm/adchoices