On a recent episode of the Designed by Wingnut Social Podcast with host Darla Powell, she brought on Danielle Hayden of Kickstart Accounting Inc. to do a dive deep into the often-overlooked aspect of running a business: getting paid. In Episode 451, the duo discusses the financial challenges faced by business owners, especially when it comes to transferring funds from a business account to a personal account and ensuring consistent, fair compensation.
The episode emphasizes the importance of adjusting one’s financial mindset. Danielle, a seasoned business expert, shares practical advice on how entrepreneurs can stop underpricing their services and start recognizing their true worth. She explains how adjusting mindset and raising rates can lead to a transformative impact on both business growth and personal financial stability. Danielle elaborates on why business owners, particularly in creative industries, often struggle with undercharging and how this can stunt their business’s success.
“The truth is, most business owners are not paying themselves enough,” Danielle says. “Changing your mindset and changing your rates can be transformative. If you truly want to build a sustainable business, paying yourself properly is a non-negotiable.”
The conversation also touches on navigating tax implications, such as how choosing between an S-Corp or an LLC can impact how owners get paid and overall business tax structure. Danielle discusses the importance of understanding the distinction between owner’s pay and business revenue and how this understanding is key to scaling effectively. She also explains how setting up systems for consistent paychecks can alleviate the stress of managing cash flow and ensure long-term stability.
Additionally, Danielle and Darla share advice on how to balance reinvesting in the business while also ensuring that the business owner, is taking home a reasonable paycheck. They provide actionable tips for making strategic financial decisions, from tax-saving strategies to planning for business growth, so entrepreneurs can move from surviving to thriving.
Listen to the full episode of Designed By Wingnut Social featuring Danielle Hayden at this link: https://podcasts.apple.com/us/podcast/know-your-worth-paying-yourself-as-a-business-owner/id1434240381?i=1000684993299
About Danielle Hayden
Danielle Hayden is the Co-Founder and CEO of Kickstart Accounting, Inc. a bookkeeping and accounting firm that is on a mission to coach six figure (+ beyond) female entrepreneurs so they can better understand their numbers through bookkeeping, financial analysis, and support so they can grow profitable, sustainable and enjoyable businesses.
With over 15 years experience in the world of finance, Danielle has worked her way from accounting firm intern to the Co-Founder of Kickstart Accounting. She understands how complex business finances can be, and she knows that entrepreneurs need more than just a bookkeeper; they need real financial analysis and support in order to get the confidence required to create the sustainable wealth they deserve. Danielle brings a unique perspective when it comes to providing business owners with “the total package” as it relates to their finances.
She’s has been a guest on multiple top-rated shows including, A Well-Designed Business® | Interior Design Business Podcast, The How of Business and Female emPOWERED: Winning in Business & Life. She is also the host of the Business By the Books podcast.
When Danielle isn’t in her money mindset work she can be found hiking or spending time with her family.
