So....you're a solopreneur. You're the bookkeeper/accountant, CEO, secretary and janitor all rolled into one, right? Me, too! The only difference in us is that I'm very clear that the way I pay myself each month, which would probably NOT be endorsed by your bookkeeper or accountant. It IS unorthodox, but then again, the way most solopreneurs pay themselves is by seeing what is leftover after paying all of their expenses. What happens if there is nothing leftover?
Stress. Defeat. Struggle. Lack.
I used to be guilty of accepting the breadcrumbs of my business, too. I thought that everyone else should get the money before I did if I were being a "responsible" business owner. Now I know better. Paying yourself last is just a practice (sometimes hard to break) that will never grow your business.
If your intent is to see how much is leftover after expenses, there is no power in that. You get what you get. Some weeks and months may be fine, others----not so much. The best thing you can do to increase your income is to begin paying yourself off the top. You may feel a bit squeamish at first, but pick an amount that feels safe and decide that this month you are cutting yourself a check first, no matter what.
Once you do it a couple of times, you’ll notice that your income always covers that amount in addition to your expenses. Why? Because you’ve made a powerful decision that you are of value. Plus, isn’t it rewarding to see money coming into your account consistently?
Now, it’s time to bump it up. How much do you need to increase your paycheck to feel more ease and freedom with money?
You don't need a coach, nor a blueprint to begin your path to true abundance. Simply start paying yourself FIRST---whether it's $10, $100, or even $1,000 each pay period. Put the money in your "personal" savings bank account. If you see money in there it feels abundant and therefore you’ll feel more secure about money. The payoff is feeling secure, successful and raising your vibration to attract more. You’re tithing to yourself.
The first time I did this, it resonated with me in such a way that I decided to revamp my business plan and make it a business priority! I began adding more money into my savings each month. Not my retirement accounts, just a plain old savings account at my credit union. In just a few short months, I had saved more money than I ever had before! I was paying myself before my expenses, even when I knew I might not make all the payments on my expenses. But guess what? There was always enough money to do it all!
You change your wealth setpoint by paying yourself first. Being the realist that I am, I don't cut myself a check every month in the same amount. I just pull out whatever amount that I’m inspired to----but I always leave my "cushion" in the account.
Here’s another key point in paying yourself...give yourself enough to start taking action on the things you’ve been craving but have felt you don’t have enough money to pursue. For instance, I’m hot and heavy into renovating different rooms of our house. So, I’ll see how much the new light fixture, paint, bar stools, etc., will cost, and then decide that I’m going to pay myself enough to buy them. I have a list of all the items and services we need to complete our house in a very strategic order. And I follow my plan.
I’ll do the same with things I want to invest in for my business, like a website makeover or hiring a consultant. If you wait to make more money before you shift your expectations, you’ll be waiting a long time. This is where having a business plan comes into play--- you can tweek it as you build your business, while staying true to the reason(s) WHY you decided to start a business in the first place. Refer back to your business plan during the year so that you’re not randomly spending money.
Now, I’m not promoting spending ALL your money on stuff you want all at once. Balance is good. And, I AWLAYS have an intention that I will pay myself and everyone else in my accounts payable. I’m very clear that there is no other option. And so I prove myself right every time.
When you decide HOW you will spend your money, you’ll increase your overall vibe about profits. Start small until you can trust the process and you see positive evidence that you have more than enough money for all of it.
Then keep stretching your expectations about how much you want to see in your personal bank account.
No more breadcrumbs, no excuses, and leftovers. Pay yourself first. You deserve it.
~Manifest your Business Solutions and build a better business. The original post is on
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