543: Pay Yourself Wages AND Profits
The BizChix Podcast: Female Entrepreneurs | Women Small Business | Biz Chix
Natalie Eckdahl
4.8 • 630 Ratings
🗓️ 29 September 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
One of the driving motivations for me is to help women business owners have businesses that create wealth for themselves, their families, their communities and future generations. This means creating a business that pays you a market based wage AND profit.
On this episode of the BizChix Podcast, our Six Figures Lab Accountability Coach, Elizabeth Cook, joins as we normalize talking about money, understanding our business finances, and being okay with creating wealth. And yes, it is okay to do that!
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This episode was first published at BizChix.com/543. Subscribe to our sister podcast, Stacking Your Team, on your podcast app or at BizChix.com/category/team.
Transcript
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| 0:00.0 | This may be one of the most important episodes you can listen to if you want to have an enduring |
| 0:08.7 | business. The three pillars of an enduring business are that it is enjoyable, profitable, |
| 0:15.7 | and sustainable. One of the main drivers for my work is to help women business owners have a business |
| 0:24.5 | that creates wealth not only for themselves, their families, their communities, but also for |
| 0:32.0 | future generations. That cannot happen if you don't stay in business. It is my passion to help you create a business |
| 0:41.5 | that pays you both a market-based wage and profit. If you do not spin off enough profit from your |
| 0:51.1 | business, it will not make financial sense for you to stay in business. |
| 0:56.9 | And I want you to stay in business, my friend. |
| 1:01.4 | Our accountability coach, Elizabeth Cook, joins me today, and we hope that through this episode, |
| 1:07.1 | we can normalize talking about money and understanding our business finances and being |
| 1:13.2 | okay with creating wealth. Yes, it is okay to do that. If you find this episode valuable, |
| 1:20.8 | would you please share it with one other woman business owner today? I would be so honored |
| 1:27.1 | if you would do that. |
| 1:28.6 | Together, we can change the world. I really believe that women can change the world. |
| 1:34.7 | But we need profit to do that. Let's go. |
| 1:39.4 | Before we dive in, may I welcome you to the Biz Chicks podcast, which has been a free resource |
| 1:45.2 | for women entrepreneurs since 2014. I'm your host, Natalie Eckdal. I'm a business strategist, |
| 1:52.9 | former competitive swimmer, out-of-the-box thinker, author, speaker, mama, caregiver, MBA, |
| 2:00.2 | and CEO of BizChicks, Inc. My passion is helping women's service |
| 2:05.7 | entrepreneurs grow and scale their businesses to first six figures in revenue and then six |
| 2:12.5 | figures in profit. We help you do this so that you can build wealth, have a greater impact, and create more time for your |
| 2:20.3 | VIPs. My VIPs are my husband Mark, our three kids ages 6 to 19, and our two sibling, Bengal cats. |
... |
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