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Entrepreneur bites - Ready-made 5 min lessons - Don't forget to earn!

Do you think about yourself enough? What I see happening a lot is that entrepreneurs - especially in the first years of their business - forget about themselves a bit. Sometimes consciously, sometimes unconsciously. If their business is struggling financially, they pay themselves last. There are people who say that you should do the opposite and pay yourself first. Nonsense, I think, because you are not more important than your team or other creditors. But certainly not unimportant either! So pay yourself a decent salary. For two reasons.

Reason 1 to give yourself money

If you as an entrepreneur have a good salary, you have peace at home. This allows you to put all your energy into the business, without having to worry about your home situation. You do not have to earn a mega-salary to be comfortable (also to avoid trouble with the tax authorities); a normal salary already gives a lot less stress in your private life. So stop eating into your hard-earned savings and give yourself financial peace of mind! 

Reason 2 for earning a good salary

If you pay yourself last, then you often do not pay yourself at all, because your company does not have enough money at the end of the month, for example. As a result, the unpaid management fees that you have to deal with as a BV owner increase. This does not exactly make it more attractive for investors to invest in your company. New entrants preferably do not want any debts from the company to the entrepreneur. They don't care whether those debts are resolved through a payment or a cancellation, as long as their financing of your company is visible. 

If you can live on less as an entrepreneur, just pay yourself a salary every month and then keep that money for when your business really needs it. This way, you can use the hoarded cash to participate in an investment round alongside outside investors. An investor will also like to see your own contribution, because it shows an entrepreneur who really stands behind his or her company.

To pay yourself a tidy monthly salary without destroying your business, you may have to start raising money earlier, but it is worth it to start fundraising three months earlier and then be able to join the investment round yourself. 

In short: think of yourself

Make sure you receive a salary every month, because it is important not to forget yourself and it is also better for your business. Having enough money means not having to jump through hoops. This way, you will keep your head clear for the successful running of your business and you will also be better able to raise money from outside. It's up to you to resist the temptation to immediately spend your entire salary again...