As far as employees go, she was the most exceptional one you could ever meet:

• Turned up to work early and stayed late
• Went over an above expectations day in, day out
• Lived and breathed the values, the epitome of culture in my business
• Would put in more than 100% effort because she believed in my business

And yet, I didn’t pay her.

And when I did eventually pay her, it barely covered her living expenses, let alone any luxury that she so desperately deserved.

If this was true, you’d think I was crazy right?! 

I mean, aren’t we meant to reward our best employees with great salaries and a bonus system to keep them loyal?

But according to research by the Australian Women Chamber of Commerce & Industry, in 2013 they found that 51% of women small business owners do not pay themselves a wage.

And the conversation I have with women business owners tells the same story.

Like the client who has run a successful business for nearly 10 years, employs 14 staff and works crazy hours only to barely cover her mortgage payment with her wage.

This has to change!

If you’re in a similar situation, then it’s time to shift your mindset.

Often we think that our profit as the business owner comes from the old accounting system of

INCOME – EXPENSES = PROFIT

However, we need to flip this around. Instead, think of it as:

EXPENSES + PROFIT = INCOME 

Whether you place your income in expenses or profit, your income target must include a payment to yourself as a priority.

There are many systems around to help you out – the book ‘Profit First’ by Mike Michalowicz is a great starting point to shift your mindset.

The best way to start is to start with a number. Any number!

Be consistent when you pay it. And keep increasing the amount regularly.

Because the alternative is not worth thinking about: you’re going to end up resenting your business. 

And ultimately? Perhaps wanting to leave to find a job that pays you better.

That means giving up on your dreams.

Let’s not do that.

Meet Nicky & Ness