So, now that I've thought to post these ideas (instead of bury them in e-mail messages to myself) for business and life in general online, I'm on a roll.
What do I do with the money I make in the business? What's a good budget/breakdown Dave Ramsey style for proceeds from my work?
Here's the plan:
(By the way, sales minus cost of goods sold = gross profit)
- retain 30% of gross profit - taxes
- retain 20% of gross profit - retained earnings
- retain 10% of gross profit - put into business for new equipm...
Continue reading ...