15. Six Figure Pay Cut, Well Worth It
Realizing that even though I had a very successful business, if I wanted to take the business to the next level and really grow it going forward, I would have to make major changes that would cause me to take a six figure pay cut. Knowing that I wanted to sell the business within six years, it was imperative that I make these changes now to increase the value I would receive at the time of sale. So, I made the necessary changes including letting all of my staff go, hiring and training new staff and putting the money that was necessary back into the business which came directly out of my pocket, to improve systems and efficiencies. Within 24 months, the business was better than it had ever been. We had more clients, more efficient systems and my income was the highest it had ever been.
Thanks to Nancy Butler, CFP®, CDFA™, CLTC of Above All Else, Success In Life And Business
Originally published on July 22, 2016 by SpeakerMatch Speakers Bureau