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BizPlanBuilder v9

How much should I pay myself and my team?

You need to factor in a living wage for yourself and your team. While some investors want to see your commitment by working for nothing, it's not right that you work for free (although, until you get financing, you may doing just that!). On the other hand, enter a reasonable salary to enable you to live -- and not be distracted by financial binds as you build the company -- then, as you achieve certain milestones, input increases in pay. (Prototype completed, revenue = $xxx, etc.)

Also, keep in mind that you don't want the tail wagging the dog... pay yourself too much and investors will wonder, pay yourself too little and investors may wonder. Don't what you are paying yourself become distraction. Remember to keep your investors focused on the huge return on investment they will enjoy in several years. (Sometimes it's easy to become fixated on things like salaries, etc.) Sell the upside of your business. Where are you going? How much money will it make? When? Profits. Customers.

As always, we appreciate hearing your Success Stories as well as your Suggestions & Feedback.

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