How you can get paid substantially better as a business owner

Post on 17-Oct-2014

926 views 0 download

description

Many business owners forget to pay themselves a wage and find they're at the end of the line on pay day. Make sure you're not in this category

transcript

© Copyright One Sherpa Pty Ltd 2010

How you can get PAID substantially better as a business owner

© Copyright One Sherpa Pty Ltd 2010

Do you feel as though you’re underpaid for what you do?

© Copyright One Sherpa Pty Ltd 2010

Do you take a wage from your business?

Or do you just take a drawing from the profits?

© Copyright One Sherpa Pty Ltd 2010

Has your accountant told you to take money from the business during the year…

and then it will be all sorted out for tax at the end of the year?

© Copyright One Sherpa Pty Ltd 2010

Do you simply take whatever money is left over and…

hope that you’ll have enough to pay your personal bills?

© Copyright One Sherpa Pty Ltd 2010

The primary reason why you are underpaid is that you’ve forgotten to ask the customer to pay for YOUR wages

© Copyright One Sherpa Pty Ltd 2010

Taking a drawing from the profit means you’re overstating the profit…

not treating the time you work as a real cost in the business

by forgetting to pay yourself first and…

© Copyright One Sherpa Pty Ltd 2010

If you fail to recover the true cost of wages who is going to pay you?

© Copyright One Sherpa Pty Ltd 2010

PROBLEM #1

calculates the margin you receive from your customers AFTER deducting your wages

© Copyright One Sherpa Pty Ltd 2010

This gives a true reflection of the margin you’re making

AFTER paying for the cost of your time

© Copyright One Sherpa Pty Ltd 2010

This is the only way to make sure you have a sustainable business

© Copyright One Sherpa Pty Ltd 2010

Let me show you how this works in One Minute Business Checkup

© Copyright One Sherpa Pty Ltd 2010

© Copyright One Sherpa Pty Ltd 2010

© Copyright One Sherpa Pty Ltd 2010

Let’s calculate how many more sales we need to ensure we have a sustainable margin

Business Owner Costs $ 80,000Other Costs $600,000Total Costs to be recovered $680,000

To ensure 20% Margin divide by 0.8New sales figure $680,000/0.8 $850,000

© Copyright One Sherpa Pty Ltd 2010

© Copyright One Sherpa Pty Ltd 2010

Checkout your own information now.

© Copyright One Sherpa Pty Ltd 2010

Make sure your business is recovering ALL the costs from your customers

© Copyright One Sherpa Pty Ltd 2010

Go to www.oneminutebusinesscheckup.com and see for yourself whether you’re properly recovering a

sustainable wage from your business