Can you afford the pay raise?

Can you afford the pay raise?

Maybe you’re considering a pay raise for your team or maybe it’s for you.

And maybe it seems like there’s enough money in the bank account right now, but what about later?

It’s very hard to tell a team member “Oops, I’m sorry, I couldn’t afford that pay raise. We’re gonna have to put you back to your old pay rate.”

You just know that conversation isn’t going to go well.

And even for our own pay rises as business owners, our personal expenses tend to creep up a little bit and it can be hard to walk them back.

Maybe you just need a stack of savings sitting in the bank account and honestly that’s what some people need in general.

But the problem with that is you could have spent that savings on something that would have much bigger impact on your business than just giving yourself a bit of peace of mind.

So this is where a cash flow projection can be extremely useful.

Week by week, month by month, six, twelve months into the future, you’ll know about the money coming in, the money coming out, and whether your bank balance is going to get too low.

It’ll allow you to see whether that pay rise does send you broke, whether you can afford it, for how long you can afford it.

That’s what a cash flow projection is useful for.

TOMORROW I’m going to run a workshop where we build one together.

At the end of it, you’ll have a cash flow projection built that you can use to make decisions like “can I afford this pay raise?”

It won’t take very long.

I’ve got some tools to make the process go very smoothly and you’ll have a lot of help from me.

I’ve made hundreds of these things for my clients and for my own businesses as well.

So at the end of the workshop, you’ll be able to answer questions like “can I afford this pay raise?” very easily, with a lot more confidence, and a lot less second guessing.

If you want the details of the workshop, DM me the word ORACLE on Instagram @benmcadamig and I’ll shoot them over.

(REMINDER: the workshop is in less than 24 hours!)