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Pace yourself financially

There is still a small business behavior that needs attention. For many small business owners, there is no set weekly paycheck that they can count on. The very small business owners, under three employees, always make sure that the employees get their paycheck; when it comes to their own paycheck, they get one when the money is available. This “feast or famine” situation may result in survival mode for the owner when things are slow, and then a spending spree because business was exceptional in a given month. Buying a big screen TV because the money was there one month, is a bad move.

Let’s review the budget basics again:

  • as a business owner, set your family “survival budget” and take out only that amount each month.
  • do not, unless it’s an emergency, exceed this “survival” paycheck until you have, in the bank, in excess of a one year, full operation budget.
  • just as a reminder, the one year budget should include funds for growing your business not just meeting payroll and operational expenses.

A small business is a family affair and the entire family has to be there to support the business.  A one month excess does not rate a new car, new TV and a trip to Disneyland.

A family survival budget does not mean that there are no funds available for relaxation and entertainment.  My book, Building a Personal Budget   should be used to determine the family budget need and then that number is plugged into the business annual budget.

Cash is king in today’s unpredictable economy and survival cannot be looked upon as the main goal for your business; the main goal has to be business growth and income for the owners retirement.

No one said growing a business is easy, but sending your money ahead for future needs will yield big dividends.


Destiny is not a matter of chance; it is a matter of choice. It is not a thing to be waited for; it is a thing to be achieved.

William Jennings Bryan

Have a great day!

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