Salon Owners: Stop Paying Yourself Last
About this episode
Phil Jackson discusses the importance of paying yourself as a salon owner and how to structure finances to ensure a proper wage.
Are you constantly sacrificing your own salary to keep your salon afloat? Many salon owners pay everyone else but themselves, leaving their personal accounts empty. This isn't just a temporary fix; it's a trap that hides the truth about your business's financial health and leaves you feeling unmotivated and undervalued. In this episode, Phil Jackson exposes why you're not getting paid what you're worth and how to structure your finances to ensure you always take a proper, non-negotiable wage. **THE TRAP OF 'WHATEVER'S LEFT'** * Phil's past experience: "a fully booked salon, but my personal bank account full of crickets and cobwebs." * Skipping his own paycheck for 2-3 months, and even buying stock on a personal credit card when the business account was empty. * From the outside, the business looked successful, but was "just scraping by, surviving off the back of me" through unpaid hours and cash flow subsidies. * Realisation: "I didn't actually have a business at all. What I had was a grueling job." * Your pay isn't a bonus; it's an expense, a non-negotiable cost of the work you do – like rent or electric. **TWO POTS OF MONEY: YOUR WAGE VS. PROFIT**…
More episodes of Build Your Salon with Phil Jackson
- Is AI Good for Salons? My Honest Answer
- How to Set Commissions in Your Salon
- What to Do When Your Salon Goes Quiet in Summer
- How to Set Salon Targets That Actually Make a Profit
- How to Get Salon Referrals That Actually Work
- Busy But Broke? The 3x Wage Pricing Myth
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