AMM Communications LLC is fast approaching our two-year anniversary. June 1 marks the official day. If you had told me three years ago I would be a business owner, I would have said “Get out of here! I don’t have what it takes.” Well, Lady Luck or Lady Fate — whatever your preference — dealt a lucky hand in my direction.
- 30 percent to taxes — No matter what, set money aside first to pay the government.
- 10 percent to yourself — Until we reach our six-month reserve, we will keep it at 10 percent with a goal of increasing it to 15-18 percent. Also, pay yourself. Who else will take care of your in retirement?
- 10 percent to company reserves — You need cash on hand. Just like your personal emergency fund, build one for your business.
- The rest of the 50 percent covers everything else!
Founded in 2008, St. Louis-based AMM Communications LLC is an integrated public relations and marketing firm that provides public relations, marketing, crisis communication, social media and sales management training for small- and mid-cap financial institutions, professional service firms and manufacturing companies. For more information, please navigate to www.ammcommunications.com or call 314.485.4390.