If you are a small business owner, do you know what you should be getting paid based on your P&L?  I have many friends that are consultants who are in the service industry.  When they get a $10,000 contract fee, they think it is all for them and are off spending the $10,000 of their hard earned money, possibly on a down payment on a new car.  Whoa there.  That’s not all yours.  Let’s say 1/3 goes to expenses, 1/3 goes to federal, state and local estimated taxes and 1/3 is really yours to do what you want with it. So we are talking $3,333.

If you have an Income Statement that does not include your salary and you have a 10% bottom-line.  That bottom-line is yours and out of the 10% you have to pay taxes, disability insurance, your financial advisor and your retirement fund. This isn’t any fun.  You’re right.  So make sure you get enough in your bottom-line to make sure you get the $$$ you want.  How do you do that?  Make sure you have the right selling price to get your bottom-line.