What Is a Good Business To Start – How to Pay Yourself A High Salary!
http://qtbizsolutions.com/payyourself – What is a Good Business To Start
HI Tina Williams from qtbizsolutions.com and chances are you found this video because you were searching for what is a good business to start.
Well, that is a very good question. One that a lot of people ask but what I really think you meant to ask is how could you pay yourself a high salary when you start a business, right?
You see I went through the same thing. I asked myself what is a good business to start and I started a business and I paid people. I paid the rent people, I paid the telephone company, I paid the employees, I paid everyone except myself and I realized what I needed to do was ask myself what is a good business to start and how can I pay myself a high salary when I start that business.
So in this video I am going to talk about how you can pay yourself a high salary when you start your business from your passion.
So to answer the question what is a good business to start? I am going to answer the question with what type of business is a good business to start. And the answer would be to open a nonprofit business.
Did you know that nonprofit founders can choose what they get paid? Also, did you know that nonprofit founders can get paid from grants, donations and program service fees from the nonprofits that they start?
Lets go to guidestar.org and take a look at some examples.
You can go to guidestart.org and sign up for a free account because nonprofit information returns are public.
Let’s say you want to start a business helping youth in your area.
You would go to guidestar.org and you would look up for youth organizations. I’ve searched for youth in Michigan as I am in Michigan. I’m going to pull up top one here, Mosaic Youth Theatre of Detroit. You are going to want to look at their information return that they have provided to the IRS. And you can see that the Mosaic Youth Theatre of Detroit is formed to empower young people through professional performing arts training. And we can see that this organization got $990,000 in grants and contributions and they did charge for services around $240,000 for the year, so that could be, you know, people going to plays and things like that and what you will see here is that the executive director paid himself $77,000.
Here is another organization, it is for art education. Its a Michigan nonprofit that helps with teaching anything art. And as you can see here…there goal is to inspire people worldwide through excellence in education and artistic and cultural programs, enhancing the quality of life through the universal language of arts. So they just want to do everything arts. This is a larger one because we can see that they got $10.9 Million Dollars in grants and contributions and they charge $40 Million Dollars for services. So that means that people wanted to go to their art and music school or whatever they are teaching at their facility in their business and we can see here that the founder paid himself a little bit over $500,000 this year. You can also see that the highest paid employees…these are not the only paid employees but the highest paid employees made between $108,000 and $320,000.
So the answer to the question, what is a good business to start? I think the answer to that question is to start a nonprofit and open something from your heart that you will enjoy doing and something that others that can not help themselves can benefit from.
So I hope you found this video helpful and it answers you question of what is a good business to start.
If you enjoyed this video please go ahead and hit the like button and leave a comment and if you are interested in learning more about how to open your nonprofit and pay yourself a high salary go to qtbizsolutions.com/payyourself. There you are going to find a video and you sign up for some free training on how to pay yourself a high salary even if you don’t have any clients to service yet.
I appreciate you for checking out this training and go ahead, click the like button, leave a comment and go to qtibzsolutions.com/payyourself and get that free training.I think you are really going to enjoy it.