There are many opinions on how to do this, but here’s one simple way…
The main statistic for any business is net profit. Are you making enough net profit to pay yourself a decent wage as the owner and have some left over to invest back into the business or pay down any debts you may have? If the answer is yes, then you have a fairly robust business.
The decent wage you pay yourself should be commensurate with the amount of time and effort you put into the business. If you work 80 hours a week, then your “decent” wage should at least pay you more per hour than your team are getting.
We see too many business owners saying that it is OK for them to not take a wage. Sure it is in the early days… but not forever.
Work on tracking your net profit every week. You deserve to be paid well.
By Linda Steele and Steve Hansen
Read This : New Law Article
