Budgeting and Self-Payment for Hybrid School Founders

In this episode of the Hybrid School Builders Podcast, host Rebecca Foley addresses one of the most common questions asked by hybrid school founders: how to pay yourself. Rebecca emphasizes the importance of having a clear vision for at least three years to ensure robust budgeting. She explains the significance of integrating all expenses, including self-payment, into the budget and how to set competitive and fair salaries. Rebecca also highlights the necessity of planning for growth, understanding staffing infrastructure, and adjusting tuition fees accordingly. Practical tips on accurate budgeting, considering all costs, and ensuring sustainability in the long term are provided to support founders in their journey toward creating a flourishing hybrid school.

00:00 Welcome to the Hybrid School Builders Podcast

00:58 How to Pay Yourself as a Founder

03:01 Budgeting and Staffing for Sustainability

05:52 Setting Fair Salaries and Tuition

13:52 Hiring Part-Time Employees

18:21 Final Thoughts on Paying Yourself

21:44 Conclusion and Resources