“I want you to take a percentage of your profits each month… 5%, 10%, 15%, whatever, and set that aside for business retained earnings”
DR
Dave Ramsey
The Ramsey Show ·
Chris Header · The Ecommerce Roadmap · 344: How Kris Doubled Her Sales in One Year and Stayed Profitable
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set a personal rule to spend only a certain percentage of revenue on each expense
“I want you to take a percentage of your profits each month… 5%, 10%, 15%, whatever, and set that aside for business retained earnings”
“You come up with a list of people, how much you want to spend on each person. You have a total budget. If you spend more on somebody than you expected, then that means you have to spend less on somebody else.”
“Imagine planning expenses around three promising conversations, then discovering that only one person is ready to proceed.”
“One thing people often don't realize is things like income protection, uh, when paid in your own personal name can be a tax deductible, um, expense for yourself personally, which means, you know, for a high income earner, potentially with not a lot of deductions, um, you know, every single dollar that they're spending on income protection can actually reduce...”
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