Ep. 2 How much do I need to make in sales in order to pay myself?
Let’s face it. If you’re not paying yourself an income from your profits, you have a hobby, not a business. But at what point do you stop investing in your business and start paying yourself?
In this episode, I go over these three things:
- How to start small with income expectations and stay consistent to grow them
- What you need to sell to reach your income goal
- Resources through the Academy and tips and tools for successful bookkeeping
Sign up for access to free resources in the Shopkeeper’s Academy – you’ll get access to the formula and calculator I mentioned in this episode.
Until the next episode, be savvy and boss up!
Links to articles or resources mentioned in Episode #2:
- Blog post: Shop Owners – 5 Reasons to Pay Yourself Now
- Small Business Trends article in 2018
- Shopkeeper’s Academy
- Savvy Shopkeeper Instagram page – @savvyshopkeeper
Hi Kathy! My name is Hannah and I just opened a small houseplant shop called Idyll Mercantile in Santa Barbara, California in February of this year (feb 2021!) I have been going FULL speed ahead as a solo business owner, and being able to slow down and listen to your podcast has given me the reassurance and guidance I’ve needed, but haven’t yet been able to afford via one on one business consulting. You have by default become a walking buddy, a morning coffee friend, and a much needed voice in my life. I love your podcast so much I started at the beginning and am already moving on to episode 12. Just wanted to pop on and say thank you. Your time and effort on this podcast means SO much.
-Hannah
P.s. this is officially the first review I have ever left! I love you that much!