Get paid first – why your salary should be your business’s first monthly expense

It’s the line item most often left out of a small company’s budget: the business owner’s salary. Let’s face it: you can always spend cash on your business. From office expenses to employee salaries to rent, every month a portion of your revenue is accounted for. But paying yourself first is a must. You need to earn a living – and paying yourself can actually help your business succeed. Here’s…  Read more

How to Avoid 3 Common Profit Mistakes

What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business. 1. Sales are NOT profit The biggest mistake is assuming that sales are profit. People new to business can easily confuse sales with profit, but there is a very clear distinction between them. As the saying goes, ‘sales are vanity, profit is sanity’.…  Read more

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