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Make A Profit After Paying Yourself by Paula Pant of Afford Anything on Entrepreneurship Advice
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Episode 1681:
Paula Pant sheds light on a common entrepreneurial pitfall: mistaking personal compensation for business profit. She urges small business owners to distinguish between their role as an investor and as a worker, emphasizing that true profit is what remains after paying yourself a fair wage, not the leftover after expenses minus unpaid labor.
Read along with the original article(s) here: https://affordanything.com/make-a-profit-after-paying-yourself/
Quotes to ponder:
"Profit after paying yourself!"
"I can't value my time at $0, value someone else's time at a rate that's greater than $0, and make an apples-to-apples comparison between the two."
"Don't take business lessons from the IRS."
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