How to Give Yourself a Raise When Your Revenue Rises

Financial Boundaries at Work: Protecting Your Time, Energy, and Worth For many people, money stress doesn’t start with a bank account — it starts at work. Long hours, unpaid responsibilities, constant availability, and hesitation to negotiate all point to the same underlying issue: weak financial boundaries. We often fear that saying “no” will make us look ungrateful, uncooperative, or replaceable. But the truth is, every “yes” that costs your well-being is an expense — one that compounds over time. Underpayment isn’t just about salary; it’s also about the emotional labor, hidden hours, and mental load we give away for free. Here’s the reality: boundaries are not walls, they’re agreements — ones that protect your energy, self-worth, and long-term financial health. Try using a simple boundary script when you feel pressured to overextend: When asked to take on unpaid work: “I’d be happy to discuss that additional responsibility. Can we also revisit my compensation to reflect the expanded scope?” When asked to stay late repeatedly: “I want to give my best during work hours, but I need to protect my time after hours. Can we prioritize what’s most essential?” When negotiating salary or rate: “Given the value and outcomes I bring, I’d like to revisit the conversation about compensation to ensure it reflects my contribution.” Boundaries are not selfish — they are a form of financial self-respect. And learning to set them is one of the most powerful steps toward building a sustainable, healthy relationship with work and money. I explore how boundaries shape financial well-being — and how to build them with confidence — in my book Financial Psychology: Restoring Financial Wellness in a Post-COVID Economy. 👉 Buy the book on Amazon http://ow.ly/EbwE50ILnhk

Financial Boundaries at Work: Protecting Your Time, Energy, and Worth For many people, money stress doesn’t start with a bank account — it starts at work. Long hours, unpaid responsibilities, constant availability, and hesitation to negotiate all point to the same underlying issue: weak financial boundaries. We often fear that saying “no” will make us look ungrateful, uncooperative, or replaceable. But the truth is, every “yes” that costs your well-being is an expense — one that compounds over time. Underpayment isn’t just about salary; it’s also about the emotional labor, hidden hours, and mental load we give away for free. Here’s the reality: boundaries are not walls, they’re agreements — ones that protect your energy, self-worth, and long-term financial health. Try using a simple boundary script when you feel pressured to overextend: When asked to take on unpaid work: “I’d be happy to discuss that additional responsibility. Can we also revisit my compensation to reflect the expanded scope?” When asked to stay late repeatedly: “I want to give my best during work hours, but I need to protect my time after hours. Can we prioritize what’s most essential?” When negotiating salary or rate: “Given the value and outcomes I bring, I’d like to revisit the conversation about compensation to ensure it reflects my contribution.” Boundaries are not selfish — they are a form of financial self-respect. And learning to set them is one of the most powerful steps toward building a sustainable, healthy relationship with work and money. I explore how boundaries shape financial well-being — and how to build them with confidence — in my book Financial Psychology: Restoring Financial Wellness in a Post-COVID Economy. 👉 Buy the book on Amazon http://ow.ly/EbwE50ILnhk

Hourly billing isn’t freedom—it’s a ceiling. If you’re a coach or consultant still charging by the hour, you’re likely stuck in the feast-or-famine cycle. Here’s the shift that changes everything: ➡️ Move from hourly billing to value-based retainer packages. Why it matters: Predictable monthly revenue gives you: • Steady income you can count on • Time off without guilt or stress • Deeper, more consistent client relationships Inside Journey, we explore how this pricing model helps you protect your energy while growing sustainably. Read the full article for practical ways to transition smoothly → https://lnkd.in/eANJdn8U ✨ 𝘐𝘧 𝘺𝘰𝘶’𝘥 𝘭𝘪𝘬𝘦 𝘨𝘶𝘪𝘥𝘦𝘥 𝘴𝘶𝘱𝘱𝘰𝘳𝘵 𝘵𝘰 𝘤𝘳𝘦𝘢𝘵𝘦 𝘺𝘰𝘶𝘳 𝘰𝘸𝘯 𝘴𝘶𝘴𝘵𝘢𝘪𝘯𝘢𝘣𝘭𝘦 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦, 𝘵𝘩𝘢𝘵’𝘴 𝘦𝘹𝘢𝘤𝘵𝘭𝘺 𝘸𝘩𝘢𝘵 𝘸𝘦 𝘥𝘰 𝘪𝘯𝘴𝘪𝘥𝘦 𝘑𝘰𝘶𝘳𝘯𝘦𝘺. #BusinessFinances #CoachingBusiness #RecurringRevenue #PredictableIncome #JourneyCommunity

There’s no reward in doing everything by yourself, structure is the real secret to growth. Let’s be honest, too many business owners are still running on vibes and memory. No proper record. No clear payroll system. No financial structure. Just “we go manage.” But here’s the truth: You can’t grow a business that depends only on you. Structure is what turns a hustle into a real business. If a system exists, use it. If a template works, reuse it. If a process can be automated, set it up. If an expert can handle it better, delegate it. There’s no award for stress. There’s no medal for calculating salaries manually every month. There’s no trophy for chasing staff contributions or guessing deductions. The moment you start building systems, payroll, invoicing, accounting, reporting, everything changes. You gain clarity. You save time. You make smarter decisions. If data shows what works, double down. If a digital tool can track your income and expenses, use it. If a professional can set up your structure, hire them. Because when your books are in order, your business breathes better. At Savvycrest Professionals, we help businesses move from confusion to clarity. From “I think I made profit” to “I know exactly what I earned.” From manual calculations to smart systems that work even when you rest. Structure makes everything flow. Start building it today! #smallbusinesssolutions #smallbusiness

💡 The staff-to-turnover ratio: one of the most important numbers for your business! If you run a service-based business (or one with material costs), this ratio is key. It measures all staff costs — salaries, training, benefits, and welfare — against the revenue your business generates. Why it matters: 1️⃣ Pricing insight – If the ratio is too high, it may be time to raise prices to maintain profitability. 2️⃣ Staff investment – If revenue grows, it reminds you to adjust salaries and benefits fairly, helping retain your team. 3️⃣ Business planning – Helps align staff costs with realistic overheads, inflation, and owner goals. For example, in professional services, a ratio of around 50% is common, with half of the revenue allocated to staff costs, the rest to overheads, taxes, and profit. 👉 Understanding this ratio ensures your pricing, staffing, and profits stay balanced, creating a fair and sustainable business for owners, staff, and clients alike. #BusinessTips #Accounting #Staffing #FinancialPlanning #SmallBusiness #Profitability #BusinessGrowth

Are hourly rates so bad? Since I started SLL just over 2 years ago, I've been banging on about how fixed fees work better for both clients and lawyers. However, over the past 4-5 months I've had quite a few clients ask if I can bill them hourly. I know! It surprised me too. But actually, I do get it. Clients are used to lawyers working that way and they want a metric to anchor the fee against. It probably feels more transparent to the client in some ways - a lump sum figure without context can be harder to value/understand. I'm reluctant to give up on my mission to overhaul the old ways! But clients are asking for it and it got me thinking... So a few months ago I introduced a halfway house for clients who need ongoing/retainer work and want to use HR: - Clients buy a block of hours upfront, say 8 hours at £250/hour = £2,000. - I tell clients before I do any work how many hours it'll 'cost' and what'll be left after. And then I stick to that. - Work is usually tied to outcomes (but not always possible). - When the block runs out clients can get a new block. - Unused hours can be rolled over or applied elsewhere. This way I still get paid upfront, clients get certainty about what they're spending, it's not open ended (I won't go over the current block), and we get the flexibility of the HR. I know a lot of fractional GCs work this way and I can see the benefits. It has worked well with a few clients so far but I'm tweaking and updating as I go. What do you think? Do you prefer HR or fixed fees, or a hybrid? (Clients or lawyers)👇

🧩 What happens if revenue dips and costs rise at the same time? That’s the real test of financial health. When we run stress tests with firms, we ask: - How much cash is on hand? - How long can you make payroll? - What happens if clients pay 5 days later than usual? Firms that prepare for these scenarios don’t panic when challenges hit — they pivot. Are you ready for your firm’s next “downward cycle”?

💭 Poll Results: “If you billed £500,000 this year… what should your salary be?” Over 500 lawyers voted - and the results were almost exactly what I expected: 📊 £100k (20%) - 12% 📊 £150k (30%) - 36% 📊 £200k (40%) - 32% 📊 £250k+ (50%+) - 19% No huge surprises - but a lot to unpack. When I speak with partners, a common theme emerges: “I’m the one bringing in the work, managing the clients, leading the team… yet the numbers still don’t add up.” The traditional three-times-salary rule (roughly £165k on £500k billings) once made sense. But today? For many, it feels outdated - especially those generating every penny themselves. And here’s the catch… A lot of partners aren’t underpaid because of performance - they’re under-rewarded because of internal mechanics:  • Lack of business development support  • Inefficient systems or bottlenecks  • Broader leadership or management responsibilities that limit personal billing time • Time spent on activities which are non billable, management of a team, compliance, BD etc. From the firm’s side, though, it’s not black and white either: 💼 Compliance, insurance, and tech subscriptions 🏙️ Sky-high London rents 📣 Brand and BD investment 👥 Non-billable hours that keep everything moving So yes - the structure still “works on paper.” But the perception of fairness is changing fast. This has been massively driven by the explosive level of growth with consultancy outfits. High performers want transparency. Alignment. A model that reflects true contribution, not just what’s convenient on a spreadsheet. ⚖️ So, are law firm remuneration models still fit for purpose? 👇 I’d love to hear your view - Is the 3x rule still alive where you are, or are firms finally evolving?

They said 30-day terms but didn’t tell you when their pay run happens. We see this all the time. A client wins a big project with a big name. It looks great on the portfolio. But not so great in the bank. Because that shiny “30-day” term somehow turns into 60. Sometimes 90. Each time it’s another missed pay run or a rejection over a technicality no one warned you about. So, what goes wrong? And what can you do about it? Apart from calling and shouting which might make you feel better for a minute, but it doesn’t solve the problem. The truth is, there are simple things you can put in place to make sure invoices hit the payment run on time. And that any admin hiccups are fixed before they cause delay. What you really need is a framework. A clear process that makes sure every invoice has what it needs to move through their system quickly, and without excuses. That means understanding how their processes work, and designing yours to match. And when all else fails, having backup options in your working capital so payroll still gets met and you’re not left hanging because someone missed a deadline. We help agencies build this process from the ground up. So, they stop chasing corporates for money they’ve already earned and start running with confidence that cashflow will land when it should.

One of our biggest clients just paid us 120 days late. Payroll? Made it. Team? Paid. Stress? Gone. Most engineering firms are 60 days away from disaster. One delayed payment. One project cancellation. One bad month—and you're scrambling to make payroll. I've lived that nightmare for three years. I've had friends who had to take cuts in their own salary when projects started getting backed up. Or they'd take bad projects just to get deposits. That stress will kill you. Running a firm without reserves means you make desperate decisions: ↳ You discount fees just to get cash fast ↳ You keep toxic clients because you need their money ↳ You can't invest in growth because every dollar goes to immediate expenses It's survival mode. Not business building. Here's what we did: Started saving 10-20% of every payment that came in. Non-negotiable. Treated it like we would with our personal finances. Raised our rates—sometimes up to 15%—but grandfathered in existing clients. Added rush fees. If someone wants something quickly, we'll charge them more so they can get ahead in the line. And they pay before we deliver. The result? It took about 18 months. Now we've got six months of payroll sitting in the bank in a savings account. Untouched. Best decision we've ever made. So here's my question: How many months of reserves do you have? #operatingreserve #payroll #clients #personalsavings