When Should An Owner Start Taking A Salary – Entrepreneur ATM – VIDEO


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Another video by Mike Michalowicz, Author of The Toilet Paper Entrepreneur

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  • http://nrvliving.com Jeremy Hart

    Thanks for this, Mike. I’ve started a recycling business here in Christiansburg and this has been one of the issues we’ve talked about from time to time – do we invest the money we’re earning back into the business for things like hiring an Operations Manager, or do we take dividends. Or can we do both? The response from consumers has been phenomenal and we want to make sure the business is on the right footing. You always give us something to think about.

    Like seeing the VT helmet prominently displayed in the background, well done!

  • http://playluxor.org/ Play Luxor

    great video!!!, very interesting.

  • Mike Michalowicz

    @Jeremy – Hey man you in Christiansburg!! That is great. Maybe I can have a drink with you the next time I come down to Tech.

    In regards to money, I will tell you what most people wont – TAKE YOUR MONEY FIRST. Don’t kill the company, but start paying yourself. You need to get into that habit quickly. Your business might not grow as quickly since you aren’t investing every penny back into your company… BUT you are building a habit that will force a healthy company that is paying you good money. And that is what it is all about.

    GO HOKIES!

  • Mike Michalowicz

    @Paul – Thanks!