Lessons in enterpreneurship : Lession 1 – Give yourself a good salary
At an Owner Manager program that i recently signed up for, i was asked to fill a questionnaire on “value creation” from the perspective of different stakeholders in a business. “In this business – “what is important to me?”, “what is important to an employee?”, “what is important to a customer?”, and “what is important to an investor?”, were some of the questions asked.
Do note the distinction between “me” and an “me as an investor”. It is clear that all entrepreneurs are investors in their own business. Apart from their time, effort, nearly all entrepreneurs invest money. This infusion may be direct through way of paid-up capital or loans from family and friends, or they could be investing money indirectly by way of taking lower-than-market-salaries for themselves – thus choosing to invest the profits back into the company.
This is an excerpt from a blog i wrote for the online magazine DARE.co.in. Read the complete article at: http://www.dare.co.in/blogs/lessons-in-enterpreneurship-lession-1-give-yourself-a-good-salary.htm
