Tony Wright, founder of RescueTime and Jobby (sold to Jobster) has a great post on how he gave himself a raise by removing expenses! This is an exercise that every entrepreneur should do. It is especially important if you are bootstrapping you company to know exactly where you are spending your money and to eliminate everything that is superfluous. Add up all your expenses and use Tony’s calculations to back into how much income is required to cover your expenses. That is money that you can put back into your business.
If you do the same thing I am sure you will be just as surprised as I was when I ran the calculations for myself.
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