Are You Paying Yourself Last? You Work the Hardest — Why Are You Paid the Least?
Too many contractors fall into the trap of paying themselves last. After materials, labor, vendors, overhead, taxes… maybe there’s something left for you. Maybe not.
But you didn’t start your business to scrape by.
You should be setting aside your compensation first, not as an afterthought. This isn’t selfish — it’s strategic. It forces you to run the rest of the business on what’s left. It creates discipline. It builds sustainability.
Real World Mistake & Lesson:
A painting company owner hadn’t paid himself in 3 months. “I want to take care of my guys first,” he said. Admirable — but unsustainable. We implemented a Pay Yourself First model. He started drawing $4,000/month consistently, and because he knew he had to cover it, he started watching his costs like a hawk. Profitability improved within one quarter.
Pick up your free copy of my new book, “The 7 Minute Conversation-How to Hear the Story Your Small Business Financial Statements Are Telling You-CONTRACTOR EDITION”. Go to www.7MinuteConversationBook.com
Ready to find out where your cash and profits are really going? Book your free 15-minute Profit and Cash Flow Call with me. No pressure. Just real clarity. I’ll help you see where your money’s hiding — and what to do about it. Schedule at www.CashFlowCallWithLarry.com