Why so many business owners barely pay themselves — and how to fix the problem — with Tuesday P. Brooks
Release Date: 12/06/2022
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info_outlineEven when companies are raking in 6- and 7-figure sales, too many business owners end up working so many hours, and paying themselves so little of the profits, that they actually make minimum wage (or lower). Our guest this week is an expert in helping entrepreneurs reverse the trend and actually pay themselves what they’re worth.
Tuesday P. Brooks, MBA is a business owner, educator, and trusted tax and accounting advisor whose company, AJOY, is committed to improving profitability of women-led micro and small business enterprises.
Listen to the full episode for more on Tuesday’s company, her tax advice, why business owners have been thinking about profit all wrong, and more.
Here’s a Glimpse of What You’ll Learn:
- More about Tuesday’s company, AJOY, and who they help
- Why accounting and taxes end up being such a big problem for business owners, and the role that fear plays
- The rough percentage of Tuesday’s business owner clients who are actually making approximately minimum wage
- The problem with the “reinvesting in the business” philosophy that so many business owners operate under
- What it means to have “pretty financials”
- The benefits of paying taxes as a business owner — and the biggest misconception around tax-paying that entrepreneurs have
- Why so many of Tuesday’s clients struggle to come up with financial goals and why it’s often so hard for them to accept that it’s okay for them to make more money (instead of just “reinvesting” it)
- Why day-to-day impact is the biggest measurement of success in Tuesday’s business
- More about Tuesday’s program that helps train women in Africa about the basics of business and accounting in the U.S.
- The habits that Tuesday has integrated into her daily life to keep up with everything she has going on
Resources Mentioned in This Episode: