What is the perfect business? For me, it’s an entity that provides its owners with time, money and purpose. It’s a business that has processes in place to allow the owners to work at their highest and best level for portions of the week that are sub-superhuman. It knows its work so well that problems are anticipated and dealt with before they become catastrophes. It provides its workers and its owners with a higher purpose - making the world a better place in large or small ways.
We get asked this question a lot. And for good reason, it’s not always clear how much you should be taking home as an owner. Too much and you will starve your company of cash. Too little and you might as well just get a job. It’s a tough balancing act, but this article will give you a framework to answer the question for yourself.