Employee of Yourself

There are many reasons someone may choose to become an entrepreneur.

Maybe they have a great idea — so good that it could change the world.

More romantically, they may simply love something and want to create it themselves.

There is also succession, when a family business already exists.

Finally, the reason can be something vague, like “I want to do my own thing.”

At some point comes the realization that a business plan is needed.

Depending on the reason they are starting, they make various budgets after organizing their data. A person taking over a family business will create a very different plan than a startuper.

A basic business plan includes:\

• Who it targets and how many people\

• Expected revenue
  \

• Expected expenses
  \

• How the product or service will be promoted

Notice how all these concern business decisions and strategy.

But beyond the “entrepreneur” hat, you must wear many others:

working, managing staff, seeking funding, handling bureaucratic requirements with your accountant and IT specialist, talking with suppliers and customers, finding marketing and advertising strategies.

This is where most people get confused. Just like they confuse the persona representing their business, they also fail to separate the business finances from their own pocket.

This happens because they fail to separate themselves from their business.

An entrepreneur must include their own salary in the budget. Their actual profit is the dividends that come after taxes, having already calculated their salary as an expense — even if it’s not tax-deductible.

This mindset radically changes the budget but, more importantly, the mentality.

They begin to distinguish and understand their roles. They understand the time required for all their “hats”: pricing strategy, hiring decisions, knowing whether the business is profitable, and especially whether it has liquidity.

Their accountant and lawyer play a crucial role.

The accountant, beyond formal obligations, can help with budgeting, supervising parts of the business plan, organizing the entrepreneur, and recommending technological solutions to stay compliant and have proper data.

The lawyer advises on agreements so that the entrepreneur’s interests are protected.

If this all sounds excessive, imagine an entrepreneur who tries to be the financial director, the IT department, and the person signing multi-year leases. These aren’t just “hats”. They’re entire wardrobes.

All these pieces create a puzzle that ultimately forms the image of an investor.

An entrepreneur is an investor in a business in which they participate actively but mainly by making decisions.

They are not an employee of themselves.

About ACNT

ACNT covers every accounting and financial need for businesses and individuals, specializing in bookkeeping, tax preparation, and CFO services.

With over 35 years of experience and a team of seasoned professionals, we provide proactive support, accurate guidance, and high-quality solutions tailored to each client’s specific requirements.

We focus on the fields of cryptocurrencies and stocks, start-ups, construction companies, manufacturing businesses, and commercial/import-export enterprises.

We continuously stay updated on industry developments so you can focus on growing your business, confident that your tax and financial matters are in good hands.

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