Why I am paying myself first

Instalment 3 - On allocating revenues & breaking free from "the grind".

Good morning friends!

Before anything else, let me first inform you that automation/tech glitches were/are still on the to-do list this week. Alas, despite numerous testing before going live, my guests have received a) emails with the wrong recording time and b) the wrong emails at the wrong time. The saga continues and, ever so stubbornly, I am not backing down. You will, however, not be graced this week with how I resolved those glitches because, well, I didn’t. My baby is turning one(!!!!!!!) meaning party prep, I only had one day to work this week due to Tuesday being a bank Holiday (daycare being therefore closed) and the stomach flu coursing through our house like wildfire. I had forgotten what a beast that one was.

This week, I’m taking you deep into the framework I am setting up for allocating revenues in my nascent business, i.e, where every dollar that comes in is being used. Traditional business advice (and general common sense) would have me draw up an excel sheet, list out costs and expenses and determine, through the resulting profit, how much money I, the owner/founder get to take home. I started a number of businesses abiding by this advice and this time, I’m choosing to do things different - I am paying myself first. More on this later.

I’m also sharing a little bit more about my interview with the delightful Kate Sampson where we talk all about how she is starting her ceramics business and how she is approaching building it in a way that is both sustainable and profitable. There are SO MANY pearls of wisdom in there and I can’t wait to bring it out into the world! So grab yourself a cup of tea, settle in and enjoy the read!