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Today’s lesson, pay yourself, yes pay yourself. When self employed, you don’t have a weekly pay check or a glass ceiling limiting your income potential. You do have one key element limiting stopping you, that is yourself. When creating a budget you must pay yourself. For instance, if you have $2000 per/month in Bills, for six months of income you need $12,000 in your account. This may seem to simple, or obvious, but it took me awhile to grasp the importance of this knowing this on the fly. When your in business for yourself, you have good months and bad months. One month may have $6,000, the next month may have $6.00. This is why it’s so important to create this budget for yourself. When you do have large checks, commissions, or sales, this principal will help you keep your feet in the slippery substances called perspective and reason. This is not rocket science people, but when your financially or emotionally on the edge because of a few poor months, it can be a nice thought or rock to lean on, to know you still have 5 months left on your wallet. I’ve been through some really slow times in Real Estate sales. I’ve had many part time jobs just to get by in my worst months. This simple thought has allowed me to smile when I could have easily thrown in the towel! In real estate or being in business for yourself, it’s feast or famine. Try to enjoy the ride, you’ll make it! The most important thing I’ve learned in business is to treat others the same way you would like to be treated, and be ever vigilant in pursuing new clients and business. Don’t be overly aggressive, just don’t let them forget you! Alexander Reedy
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