One of the first steps to paying yourself is to make sure your business is financially stable with locked in, reliable vendors and a good customer base. In order to minimize financial strain on the business, it is important to reduce your personal expenses. However, to ensure you are meeting your personal needs you can opt for quarterly or semi-annual money distributions in the high growth phase. As the owner of the business, it is important that you remain as small of a financial burden to the company as possible.
If you have questions concerning paying yourself as an emerging entrepreneur, we’ve got you covered. Call us today for more information or to discuss your business finances.