How I Started Paying Myself as an Entrepreneur
There are so many great parts of being an entrepreneur, and it can be easy to glamorize leaving your job to pursue a business that you’re passionate about. But maybe it’s time for a reality check (+ a sprinkle of hope).
Before I started my sustainable fashion brand, Encircled, I was working as a management consultant. I had a great salary and amazing benefits. Now, here’s what they don’t tell you about being an entrepreneur: you get paid last.
This week, I’m sharing my experience moving from my stable corporate job to starting my business, focusing particularly on when and how I started to pay myself.
Money can be an awkward topic to discuss, but it’s an important consideration for entrepreneurs. So for those just starting out or thinking about quitting your full-time job, make sure to plan ahead and here’s to your abundance.
Have a listen to episode 25 from season 2 of Brave and Boss: The Podcast on iTunes or Soundcloud.
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KEY INSIGHTS FROM THE EPISODE:
- When you should start paying yourself
- Why hiring others can help you start paying yourself
- How did I know when to quit my full-time corporate job
- Why understanding your cash flow is key to determining your salary