Know Your Number: How Much Business Income Do You Need? | Daily Business Review

2022-08-08 11:53:39 By : Ms. Maggie Yi

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As a business owner, no one is going to determine your salary, so it is up to you to figure out your magic number — the number that compensates you for your worth, the value you bring to your business and the income you want in order to be able to live the lifestyle you desire.

If you were to paint a canvas, you’d start with the goal in mind: What is it you want to capture? As business owners, we have a blank canvas — we own the paintbrush and can create a business to support our vision of our ideal life and work so we can operate at our highest energy level and thrive.

In order to create the ideal business to support your vision, you need to understand your financial metrics and goals. As a business owner, no one is going to determine your salary, so it is up to you to figure out your magic number — the number that compensates you for your worth, the value you bring to your business and the income you want in order to be able to live the lifestyle you desire. 

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