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Old 12-17-2012, 04:41 PM
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RLS24 RLS24 is offline
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Join Date: Oct 2007
Location: Amherst, NY
Posts: 1,591
Originally Posted by etwman View Post
My advice on this would be to hold off trying to pay yourself as long as you can. If you have a spouse that can support you financially in the first few years then do it. The more you can leave in the company as it starts up, the faster it will grow, and the more financially stable it will become. Buy wisely, when the time comes to pull a salary don't get greedy. This is not a get rich quick scheme, it's a marathon, not a race you will win in a year.

I think it was the beginning of year three before I pulled a paycheck. It's not that you can't do it earlier, you just have to be careful.
Thats kind of what I've been doing, I try to put most of my expenses back to the business as legitimately as possible. Obviously its hard to get my 600-channel HDTV cable bill as a business write off, but my truck, fuel, cell phone, etc I put all as a business expense. I basically just try to take enough away right now to help with the household bills and such, but at some point I would like to take more to start personally investing it for myself.
Chevy and Ford trucks, Wright & Walker mowers, Echo 2-cycle, too much other stuff to list......

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