The Small Business School Podcast
Ready to leave the small business struggle behind? The “School for Small Business” podcast supports small business owners in scaling a business that is profitable, purposeful, and doesn’t leave you burnt out. No matter whether you run your business online or you own a brick-and-mortar, you can expect our world class experts to support you with mindset, tactics, and everything in between so you can have the business you dreamed of. Based on our lived experience, we know that small business CAN be easy and we are here to show you how.The “School for Small Business” is hosted by Staci Millard, a CPA by trade with over 15 years of experience seeing the behind the scenes of thousands of small businesses. After growing and selling her first 7 figure business, Staci has been on the ground running - mentoring small businesses and working to increase success rates. Staci strongly believes you don’t need to have gone to business school to be successful so you can expect nothing but simple, impactful advice. Tune in each Tuesday for a new 30 minute or less episode of nothing but valuable advice to help you grow your small business. We are so excited for you to be on this journey with us!
The Small Business School Podcast
Business Builders (Pt.37) How Much Should You Really Be Paying Yourself as a Business Owner?
Welcome back to another episode of the Business Builders series. This week, I’m diving into one of the most common questions I get asked — how much should I be paying myself? Whether you’re just starting out or years into business, figuring out your own pay can feel confusing and even emotional. In this episode, we break it down step-by-step so you can understand your true value, create a sustainable pay structure, and start treating yourself like the CEO you already are.
Key topics covered:
- Why your business should exist to serve your life — not starve it
- The two ways you get paid as an owner: for your role and as a shareholder
- How to figure out what it would cost to replace you in your business
- The risks of both underpaying and overpaying yourself
- How to build your salary into your financial model and start reverse-engineering profit
Challenge:
Get clear on your numbers!
- Decide what enough looks like for you — what income do you personally need to feel secure?
- Calculate what your business should be paying to replace you for the roles you fill.
Once you know these two numbers, you’ll have the clarity to start building your pay plan like a true CEO.
Mentioned in this episode: Faire, the largest wholesale marketplace connecting over 120,000 brands and retailers. Staci shares how Faire helps shop owners source unique products, offers flexible 60-day payment terms, and gives brands global visibility without cold pitching—creating a true win-win for small business growth.
Retailers who are new to Faire can visit www.faire.com and use code SMBSCHOOL10 at checkout for 10% off their first order.
Staci's Links:
Instagram. Website.
The School for Small Business Podcast is a proud member of the Female Alliance Media.
To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.
Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!
