Paying Myself

So I've had a little bitty bit of income starting to come my way (one party and one deposit for upcoming event). I've put it all in my dedicated "business" account for now (its really a personal acct at a separate bank and once I'm making "real" money I'll turn it to a business acct). I'm planning to buy some more paints, powders etc to beef up my kit and maybe some printed flyers - my husband suggested I reinvest in business stuff for now and he's right. But my question is... when do I pay myself. How much? blah blah bla.

I know - I need to find a good financial person but thought you all here would have some good insight.

I can't tell you that specifically, but I can tell you this. When I first started, I got a little too caught up on paint colors, brushes and setup. In the beginning, you will receive little to no financial return from those investments. I always suggest spending more on promotional materials and less on products in the beginning. Once your name gets out there, the product will take care of itself and you'll have plenty left over for yourself.

It took about 6 years before I was in the black.

I recommend talking to an accountant if you intend to pursue this as a business long term. They can advise you on the best way to handle and set-up things for YOUR area. Laws vary.

I totally agree, Whitney. I've gotten business cards, a small banner, and I am working now on my website. I'm considering flyers to put up around at businesses that allow that and also to put in neighborhood mail boxes. I'd love to get some professionally printed up as I don't think it's that expensive and it's less headache than fighting with my home printer. Hubby thinks why not just run some off at home? (Well it LOOKS cheap, dear...) But anyway I suppose either would be fine or both - home printer for mailbox flyers and pro printer for signs around town.

But now I'm sooo wanting a lumiere pallet and gosh that could make some great halloween faces... LOL

Yes I definitely need to talk to an accountant. I'm either just lazy about that or shy or don't know where to start.