Tips for Entrepreneurs
Separating personal and company finances is crucial for the success of any business. However, for many entrepreneurs, it can be challenging to achieve this separation. In this article, we will discuss why mixing personal and company finances is wrong and provide tips for determining your prolabore (salary) and separating your finances effectively.
Why Mixing Personal and Company Finances Is Wrong?
There are three common postures that entrepreneurs take when it comes to separating their finances:
01 - Starting their business with no returns for a year or more.
02 - Allocating a percentage of projects or sales as salary.
03 - Not separating personal finances from company finances.
All three postures are wrong because they limit the company's growth and mask the company's financial indicators and performance analysis.
Tips for Determining Your Prolabore and Separating Your Finances Effectively:
01 - Reimburse all expenses related to the company's existence. Start the company with at least reimbursement of all expenses related to carrying out activities in the company, then determine an amount and increase as the company's revenue grows.
02 - Relate your salary to your company's sales target. Determine a fixed salary and reserve cash for new investments as your income increases. Set a maximum cap on your prolabore, and when you reach this ceiling, your prolabore becomes fixed.
03 - Transfer your salary to a personal account and manage it separately from company money. Do not use the company account to pay your bills, even if you respect the established limit.
04 - Have a company and a personal bank account. If you don't have a CNPJ yet, open a second account in your name and use it only for company transactions. This separation is very important for the company's financial management.
If you have partners, the separation must follow the above tips. You can choose to have equal prolabores and differentiate yourselves in profit sharing, have different prolabores and also differentiate yourselves in profit sharing, or have different prolabore and equal profit sharing. Regardless of which option you choose, you need to set rules about partner compensation and follow them.
Conclusion:
Separating personal and company finances is essential for the success of any business. By following the tips outlined in this article, entrepreneurs can effectively determine their prolabore and separate their finances. If you already separate your personal finances from the company's finances, share your tip with us!
