What’s Your Worth?

Getting your dream off the ground and making your small business a reality is a huge success and one that should be rewarded. But, when it comes to the numbers, how do new business owners decide on salary? Should you receive just enough to sustain yourself or take what you believe you’re worth?

Before you start banking money, consider the following:

·        At the end of the day, there’s no magic formula, but there are experts to help. Seek advice from your CPA or financial planner to make sure you’re making all the right considerations—and looking at it from a big picture view.

·        Calculate your personal expenses and needs, and—if it’s available—review previous years’ business financials (or estimates) to see what your business can feasibly afford.

·        Evaluate the average salary of people in your field, in your area? Even if you have more experience or think you do it best, don’t price yourself out of business. Keep it comparable, but reasonable.

And as you go through the process, stay honest with yourself to ensure where you land makes sense for you and your business.

Source: http://www.manta.com/resources/tip-of-the-day/whats-your-worth/?utm_medium=Email_Marketing&utm_source=Newsletter&utm_campaign=TOTD&utm_content=TOTD_ReDesign&utm_term=16847&su=hq344mgu9vl41l