Understandable Solutions Coaching and Consulting

Why do we pay ourselves last?

For those of you who have read Mike Michalowicz’s book Profit First, good for you! For those of you who haven’t, go read it! In his book, Mike Michalowicz’s presents a fairly easy concept to business owners, and that is to set up the business so that it serves you. After all business owners, you own a business because you are passionate about what you do. Don’t lose sight of that. Don’t get so overwhelmed by running the business that you forget that you own the business. Establishing a profit first approach changes everything, from how you develop efficiency, pay employees, to long-term planning. I’ll throw in another great read, The E-Myth Revisited, by Michael Gerber. He describes three roles entrepreneurs perform in their business: the entrepreneur, the manager, and the technician. As Mr. Gerber describes, business owners spend too much time doing “work inthe business, such as bookkeeping, instead of “working on the business, such as strategic planning. So, two tasks ahead: first, read Profit First and, second, read The E-Myth Revisited. Michael Gerber has a series of E-Myth books, all are awesome. Go forth and plan a more successful business by having that business serve you because you are acting as a true entrepreneur.

Thanks for reading!

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