Hey guys, bit of a weird question here, but I wanted to get people's experiences on paying their own salary while running a successful ecomm business.
I run a young ecomm business, 9 months in and almost doing 40k per month, on track to hopefully exceed 50k per month within the next few months. The ultimate goal is 100k per month, and I do believe we can get there sometime next year.
Cash flow is obviously a major issue in e-commerce, and while profitability is there, it seems to always get in the way. I do have accountants etc helping me navigate all of these details, but wanted to hear the experience of other owners.
What is your attitude on what to pay yourself? Do you look at it as a percentage of your profits, or based on your lifestyle goals, etc? Personally my only money related personal goal right now is to own a home within the next two years.
Really appreciate any wisdom or advice in advance!