As you pay the bills for your cleaning business, do you wait to see if there's anything left over in the checking account before you even begin to think about paying yourself?
Where did it all go?
"I thought for sure this month I'd have enough left over to pay myself!" This is a common lament for many cleaning business owners that have no idea where all their profits are going each month.
Unfortunately this cycle will continue unless you learn to pay yourself first. Wouldn't it be nice to not only get paid, but to set aside a little each month to go towards retirement, to put a little extra towards your mortgage, or to even take a short vacation?
Paying yourself means exactly that - writing yourself a check each month. If you have to, add yourself to the payroll - that's what we do. As owners, we get a paycheck every payday just like our employees. It doesn't have to be large -- you certainly don't want to wipe out all your profit. Perhaps you could start out with $1,000 a month. I would even go one step further and set up an automatic transfer right into your personal savings account.
If you already have an IRA, take some of that money and have it automatically deposited into your account so you're saving at least a little each month.
The question I know a lot of you are asking right now is -- "What if I don't have enough to pay my bills after I pay myself?"
Here's the funny thing that happens when you pay yourself first. Becaue you feel the pressure of making sure your creditors are paid, your survival instincts kick in and forces you to work harder for that extra income. How is THAT for a marketing plan? Without even realizing it, you start networking more, you start asking for more referrals, you start following up with old clients, and you start sending out more appreciation cards. You'll start working more efficiently and you'll become more creative in the many ways you can generate more income.
The bottom line is, it will not take much to make that extra money because deep down inside, you know you need to kick it into gear and become more productive this month. And when you start seeing your personal bank accounts grow, you'll have a greater sense of accomplishment and peace, knowing that all your hard work is paying off.
Try it. You just might like it!