Profit First Series #5: Pay Yourself First! (Owner’s Compensation)

Tired of your business not paying you? Is your business not paying you enough?

The Owner’s Compensation (OC) account makes it so that one of your first priorities each month is always paying yourself. Entrepreneurs are notorious for always putting themselves last when it comes to monthly expenses and pay. No more! If your business can’t afford to pay you, it’s unhealthy.

By prioritizing this pay, you allow yourself to:

1) Survive and pay your bills and

2) make sure your business is spending on other expenses within it’s means.

Plus, it’s really fun to push up your own salary a few percentage points when your business is healthy!