Consistency is the key to success. For some month now have not been consistent with my agri business due to the nature of my work. For me to make surebthe agri business move forward i work at a place just not temper with the capital of my business. Since starting afresh, i have done some research on how to go about it. In the process have some some changes in the way i treat business cash and my personal money,through that i will be able to monitor and give account on how the money is spent.
i was able to learn howvto pay yourself in business.
- Have a sepate account which is personal and business account. Don't use money from business account to fund personal needs.
- After a successful activities of business take out profit and taking out profit requires subtraction of monyhly expenses from the money then uou have your profit . Meanwhile, 50% of the profit is your salary.
What happens to the other 50% left
For the growth of the business,you can put 30% back to the business,10% yo pay off debt or loan if there is any, then the remaining 10% can be saved.
After going through the ideas am going give a thought about it to see how is goes.
#Thanks for your patience and time.