The Positioning-First Comp Ceiling
Paying yourself too little isn't really a pay problem - it starts five steps back with how broadly you are positioned.

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The mechanism
The chart is a downward chain of five boxes. Broad positioning leads to competing on price, which brings wrong-fit clients, which means costly custom work, which leaves no room to pay the owner well, which pulls the owner into delivery, which leaves no time to fix positioning - and the loop repeats. A yellow box off to the side says to break the chain at the top by fixing positioning first. You can't pay your way out of a positioning problem; the money follows the position, not the other way around.
Part of Positioning. Who you are for and why you are the obvious choice.