Paying Yourself In 2021
Now, as I discussed back in episode 12, I’m a passionate advocate when it comes to the subject of paying yourself from your creative product business. Whether it’s a monthly allowance, an annual bonus or something as simple as buying yourself a delicious cup of coffee, I believe you should be committing yourself to setting a specific salary goal that’s achievable and non-negotiable. The last year has been rough for retail, but that doesn’t mean you can’t reward yourself for all your hard work.
In episode 30 of The Resilient Retail Game Plan, I detail the key points you need to grasp to help make your salary aspirations a reality. We’ll cover the importance of understanding your business’s profitability and how setting a sales plan will help you set realistic wage targets – and we’ll also look at controlling and reviewing your expenses so you can be as prepared and profitable as possible.