If You Are A Business Owner And You Want Your Business To Grow. Learn This From Didi-Omah Augustine Chinazaekpere

If you are a business owner and you want your business to grow. Treat it as an independent entity, as a separate entity. Your business should stand on its own, have it's own financial stance; if you truly want your business to scale. It should be legally structured.

Most small business owners do not separate their personal finance from business finance. How can you be spending your business revenue on your personal needs and wants? No separation at all! Your business is making money, you have to pay yourself some amount as salary, that you can use for your personal upkeep.

Executive. Earn salary from that your business, and use a proportion of the business finance to reinvest in the business to grow. That is why you can see successful business owners and giants in the business field, earn dividends from their own company or business. That is the process! Pay yourself first from your business finances. Have a corporate account for your business, and personal account for yourself.

At the end of the month, take some proportion as salary, more little depending on the size of your business. And pay yourself as salary, out of your personal income, take care of yourself. Stay financially discipline even if you become billionaire later. Executive. Having a corporate account for your business, makes your business to be professional and more profitable, and eligible to attract more huge financing from anywhere.

Okay, no matter what you are doing, the business you venture into; if you want your business to grow, to be global and bigger — have a strong financial structure that separate the business finances from personal income; and still pay you dividends or timely salaries from it's finances. This is really difficult for most business owners, no wonder you will see someone doing a business for over ten years, same spot, same system, same level. 

Over ten years, no changes, no increase in business, no bigger system, no higher levels of operation. It is not because of no income or poor earnings. Majorly it is because of poor financial structure, no division between business finance and personal finance. You are eating your business money, your capital and your profit together — and this will result to stagnation in business, eventually the business will fail.

There is no new rule, the rule is the same and simple. Don't use your capital and profits for your personal needs. Keep your capital, pay yourself from your profits, and reinvest in your business to grow. You cannot eat the seeds and the bread, and then expect more food always! From where exactly? Executive.

Earn dividends very possible from your business, do the calculations very well and accurately — then pay yourself. The remaining save for emergency and some proportion reinvest it in the business for more expansion and growth. I learnt this in a hard way, and I thank God, I was young to learn it at 21 years old in 2023. I used my business capital and profits to finance my needs and two business project; there was nothing left, I wasn't earning personal salary. It was a great loss indeed at the end, and this costly mistake caused my blogging business (Doactalk) then to fall and remain out of business for three months.

So you must avoid that mistake. Executive. You want to be successful, if you never try you can never know. The best way of learning, is executing the little knowledge you have acquired to work. The best learning comes from practicing what you are studying or reading. You want to be successful, if you never try you can never know. I will let you know that making money is not the problem, the problem lies in multiplying money. Because many people makes money everyday but few are wealthy enough. Executive. Get right financial knowledge that drives wealth, that you may remain increasingly financially empowered and wealthy. 

© Didi-Omah Augustine Chinazaekpere 

Founder/President, doac, Invest.