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Episode Synopsis

In this episode of Small Business Big Money, host Gina Knox discusses the importance of setting personal income goals for business owners rather than traditional revenue goals. She emphasizes the significance of owner's pay as a motivational tool and a strategy for business longevity. Gina provides practical steps for determining an appropriate owner's pay and how to reverse engineer business revenue goals based on that figure. The episode also highlights the importance of identifying and solving the right problems in business to achieve financial success.

Keywords: small business, financial coaching, goal setting, owner's pay, business strategy, financial security, profit, revenue goals, personal wealth, business problems, profit first, s-corp, tax strategies