Paying Yourself Doesn’t Make You Greedy
Some business owners think they have to wait until “the business makes more” to pay themselves. Others pay themselves last. Both are wrong. Enter: Profit First.
What is it?
A cash management method created by Mike Michalowicz where you allocate income into separate accounts:
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Profit
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Owner’s pay
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Taxes
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Operating expenses
Why it works:
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Forces financial discipline
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Prevents “feast or famine” cycles
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Ensures you don’t forget your own paycheck
How to start:
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Open separate bank accounts
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Allocate percentages (e.g., 5% profit, 30% owner pay, etc.)
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Transfer income accordingly—automatically, if possible
✅ Funny Tip: Think of it as financial meal-prep. Less tasty, but way more profitable.
