Welcome back to another episode of the Business Builders series. This week, I’m diving into one of the most common questions I get asked — how much should I be paying myself? Whether you’re just starting out or years into business, figuring out your own pay can feel confusing and even emotional. In this episode, we break it down step-by-step so you can understand your true value, create a sustainable pay structure, and start treating yourself like the CEO you already are.

Key topics covered:

• Why your business should exist to serve your life — not starve it
• The two ways you get paid as an owner: for your role and as a shareholder
• How to figure out what it would cost to replace you in your business
• The risks of both underpaying and overpaying yourself
• How to build your salary into your financial model and start reverse-engineering profit

Challenge:

Get clear on your numbers!

1. Decide what enough looks like for you — what income do you personally need to feel secure?
2. Calculate what your business should be paying to replace you for the roles you fill.

Once you know these two numbers, you’ll have the clarity to start building your pay plan like a true CEO.

Mentioned in this episode: Faire, the largest wholesale marketplace connecting over 120,000 brands and retailers. Staci shares how Faire helps shop owners source unique products, offers flexible 60-day payment terms, and gives brands global visibility without cold pitching—creating a true win-win for small business growth.

Retailers who are new to Faire can visit www.faire.com and use code SMBSCHOOL10 at checkout for 10% off their first order.

Staci's Links:
Instagram. Website.

The School for Small Business Podcast is a proud member of the Female Alliance Media.

To learn more about Female Alliance Media and how they are elevating female voices or how they can support your show, visit femalealliancemedia.ca.

Head over to my website https://www.stacimillard.com/ to grab your FREE copy of my Profit Playbook and receive 30 innovative ways you can add more profit to your business AND the first step towards implementing these ideas in your business!