Pay Yourself Properly

Salon Marketing expert Phil Jackson says you should Pay Yourself Properly
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Pay yourself properly!

You’ve heard this time and again and I’m saying it again now,

“If you want to build your business, you’ve got to pay yourself properly”.

I estimate that around 70% of the salon owners I meet could not afford to pay themselves if they followed the same pay structure as the rest of their team.

Some of you might be thinking that paying yourself more is an odd way to be successful. But it isn’t. Giving yourself compensation for the many things you do is what pushes you forward and motivates you in the longer term.

As business owners, it’s only natural to think of ourselves last. We see some kind of prowess in sacrificing our own time and sometimes even our own pay. We are willing to do anything to ensure the success of our business. While this trait may seem admirable, you still need to pay your bills and buy food to eat

Initially, you may not be able to afford to pay yourself properly and that’s perfectly fine. Just as long as you’re compensating yourself for the work that you do, even if it’s just enough to get by. However, as your business grows, make sure your pay grows with it too. Make sure to give yourself competitive and fair pay.

As the business decision maker, you have complete control over your finances. You decide how much money to allocate to operations, on marketing and, of course, how much to pay yourself. And with no one to tell you what to do, you may give yourself a hard time seeing the fine line. The line that separates between taking profits to reward yourself and re-investing in your own business.

You need to pay yourself properly to have the financial motivation to make great business decisions for continued growth. I have here a three-step process to give yourself the proper pay rise. Let’s get you started on earning what you’re worth!

Finally, you can download the MP3 for this broadcast free here.  Enjoyed this week’s blog?  Join the conversation on the Build Your Salon Facebook page.


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