One of my goals this year is to get better at small business finances.
So lately I’ve been reading books like Simple Numbers, Straight Talk, Big Profits by Greg Crabtree. I’ve also been interviewing CPAs and bookkeepers to learn all I can to “up my game” in this area.
And one of the most important things I’ve learned recently is to pay myself a “market-based wage.” Crabtree says, “If you don’t pay yourself a market-based wage, your net income number is lying to you. Or rather you are lying to yourself.”