Drawing A Salary

<p><strong>Costing - Pricing - Compensation</strong></p> <p><strong>These are the topics on today’s episode of Navigating Mindfulness hosted by Cheryl Sutherland, owner of PleaseNotes and a noted public speaker and Liza Magcale owner of eLiaise and Delegate Wisely Consulting. &nbsp;&nbsp;The two entrepreneurs share their own experiences with building successful businesses from small startups to the successful entities they are today.</strong></p> <p><strong>We discuss:</strong></p> <ul> <li><strong>How to cost out a goods-based business vs a service-based business.<br> </strong></li> <li><strong>What costs to include in the cost-of-goods.<br> </strong></li> <li><strong>The reason why many entrepreneurs don’t pay themselves and why they should.<br> </strong></li> <li><strong>How to price your goods.<br> </strong></li> <li><strong>How to price your services as a freelancer.<br> </strong></li> </ul> <p><strong>Cheryl and Liza share some of their own experiences with these concepts and how they navigated through. &nbsp;They have taken very different approaches to their businesses but have both achieved high levels of success demonstrating that there is more than one way to build a business. &nbsp;The most important piece of advice is “Be clear about what you want and go for it.”</strong></p> <p><strong>If you haven’t already, we suggest you familiarize yourself with Maslow’s Hierarchy of Needs. It is a motivational theory that suggests that in order for a human to move up the hierarchy, one must satisfy their most basic needs first. &nbsp;We’ve included a link below if you’d like to learn more.</strong></p> <p><a href="https://www.simplypsychology.org/maslow.html"><u><strong>https://www.simplypsychology.org/maslow.html</strong></u></a></p> <p><strong>Interested in a good read? &nbsp;Check out Mike Michalowicz’s book ‘Profit First: Transform Your Business From a Cash-Eating Monster to a Money-Making Machine’.</strong></p> <p><strong>We would love to hear from you especially if you are a business owner (or woul