Pay Yourself First

I had left my high-paying corporate career and whilst it looked like I was free there was one big problem…

I needed to replace my income from my former job.

During this time I learned an important business principle:

As an entrepreneur, you can’t count on a paycheck so you need to pay yourself first.

I ended up paying everyone but myself!

This was causing me and my family great stress.

With my family’s financial security on the line, I:

– Put a percentage of my monthly earnings in savings.

– Stopped spending money on nice-to-haves and saved wisely.

– Created a strategy to minimise risk due to the uncertainty of business

– Looked at my budgeting as a percentage rather than a dollar amount.

– Explored the possibility of opening up different forms of savings accounts.

Next thing you know, I was able to take the appropriate financial steps for both my business and my family.

I gained financial security and freedom to be a real father to my kids..

I also sought out a group of like-minded individuals with clear business goals.

Now, I fund research for a disease that’s easily caused drinking the sugary drinks I use to sell.

So if you’re struggling to make your business sustainable, ask yourself:

Am I creating a business that allows me to pay myself first?