Entrepreneurs often forget to credit themselves with what they are worth. They start riding the sacrifice wagon and never stop! So, if you feel your business is not doing as well as you think it should, this is the problem-You are not paying yourself your worth!
- Paying Yourself Your Due Is A Great Booster: Make a list of responsibilities & duties and based on that, plan your compensation and make sure you pay that to yourself like you would any other employee. If you underpay yourself, that indicates your company is barely keeping up but if your work on paying yourself your due, your business will be driven by profits
- To Make Yourself Dispensable: If you decide to focus on bigger things that need your attention it will be easy for you to hand over your responsibilities to another employee if you have been paying yourself. It will be a smooth transition as you will know how much that responsibility is worth.
- You Will Love What You Do More: Being an entrepreneur, you already have a lot on your mind. When things are not going the way you had expected you’ll be frustrated, angry and really low but the salary you draw for all your efforts make it all worth it. You tend to embrace challenges with an open mind rather than resent them. You are also in a better mindspace when you know you are being awarded for all your hard work.
- It Makes You More Efficient: When you are under pressure to work and earn your pay, you are more focussed & serious and you don’t just treat it like another hobby. You’ll also value work and will attract the right talent and will also be able to sustain the right people at work. You will constantly be driven to economize and boost your efficiency. When you get a slice of the profits, you grow and you begin steering your company towards more growth.
