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Why Every Business Owner Deserves to Pay Themselves More!

business coaching decision-making finance business skills financial goals payyourself women in business Oct 21, 2024

As a business owner, you wear many hats. You’re the CEO, the marketer, the salesperson, and more. But there’s one role that many women business owners neglect: being your own employee. 

You work tirelessly to grow your business, but when it comes to paying yourself, are you getting the salary you truly deserve?

Far too often, I see amazing female business owners pouring their heart and soul into their businesses but failing to pay themselves properly—or at all. 

Whether it’s reinvesting everything into the business or just forgetting to factor in their own salary, many business owners miss out on the financial rewards they’ve earned. 

But here’s the truth: if you’re not paying yourself first and MORE, you’re doing yourself—and your business—a disservice. 

Paying yourself is not just important but essential for your long-term success.

1. Financial Freedom Starts with Prioritising Your Pay

Many business owners feel guilty about paying themselves. You might think that every dollar should be put back into your business, or that paying yourself could hurt your growth. But that’s simply not true.

Paying yourself consistently helps you achieve the financial freedom and stability you started the business for. Without it, you could find yourself stressed about personal expenses while working hard in a growing business. By making sure your pay is a priorty, you reduce financial anxiety, balance your personal and business needs, and set yourself up for long-term success.

Paying yourself isn’t selfish—it’s smart.

2. Valuing Yourself Means Valuing Your Business

Your time and effort are valuable, and so is the expertise you bring to your business. If you’re not paying yourself, you’re sending a message (to yourself and others) that your hard work isn’t worth compensation. 

But the truth is, you are the most important part of your business.

When you make the decision to pay yourself, you’re recognising your worth and treating yourself as your most valuable employee. It’s not just about the money—it’s about the mindset shift. 

When you prioritise your pay, you’re committing to valuing your contributions and acknowledging the impact you make in your business.

3. Sustainable Growth Relies on Personal Financial Health

A thriving business requires a healthy foundation, and that includes your own personal financial health. 

If you’re not paying yourself regularly, your business might grow, but you’ll eventually feel the strain of personal financial stress. This can lead to burnout, resentment, and poor decision-making.

Building your salary into your business budget is a key part of sustainable growth. It allows you to reinvest in your business without sacrificing your own financial security. When both your business and personal finances are strong, you’ll have the clarity and confidence to make decisions that support your long-term success.

How to Start Paying Yourself Today

If you’ve been neglecting to pay yourself or not paying yourself enough, it’s time to make a change. 

The good news is, it doesn’t have to be difficult! 

The first step is to calculate how much you can afford to pay yourself while keeping your business healthy then calculating the revenue you need to grow your pay to the desired about whilst still growing the business!

So! I’ve created a free calculator to help you do just that.

👉 Download my free “Pay Yourself More” calculator here to find out exactly how much you should be paying yourself from your business.

Don’t wait—start paying yourself today and set both yourself and your business up for success.

Are you ready to join the COMMUNITY?

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At The Female CFO™, we have different solutions and pathways to suit EVERY Woman in Business on your business journey to help you from startup to scale. Let's stop dreaming and start profiting!!

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