Becoming a full-time writer — just like embarking on entrepreneurship — is a bit like jumping from the big diving board with blindfolded eyes … you discover a new world, in which you have to learn how to evolve, sometimes without having help, especially if your entourage is mostly composed of employees. The multitude of administrative procedures, find readers, know how to sell your book, adapt to meet the needs of the market … Apart from having the ad hoc university curriculum, all this can be learned by trial and error, tests … And in the fears of the new author-entrepreneur, there is the fear of running out of money.
I am Aashish, I am a Blogger, Marketing Consultant, and Academic Writer and I want to make you discover the tools that will allow you to overcome these fears. Entrepreneur for the 3rd time, I also passed by the periods of doubt, the financial failures that allowed me to bounce back and build my path until today and my activity.
Let’s talk about money and you and me. Do not panic, there will be no incomprehensible financial terms, only practical practice. Take a coffee (or a tea, for me it will be caramel cappuccino) and settle down.
Online Marketing and the entrepreneur is often a story of disenchantment. However, there are some small principles, little tips to know in order to free his mind of financial stress, regardless of the progress of his project, or the chosen legal form. Whether you go micro-enterprise or you’re already a manager of an LLC, these tips can serve you.
Know your family budget to deduce your minimum income
One of the first bricks to build your financial serenity is already knowing where you are with your money. Do you know where your money goes? Do you know exactly what your expenses are, and have you maximized them? It is indeed essential to know how much you need to get out of your professional activity to ensure full weekly shopping.
For that, I propose you to make your “basic” budget by distinguishing your expenses in two types:
1. the vital expenses: those that you are obliged to do every month, such as food, rent, credits, telephone subscription…
2. incidental expenses: outings, clothes, but also leisure subscriptions like boxes …
When you know your living expenses, you know how much you have to pay to be able to fill your refrigerator. Not very sexy I grant you, but I’m talking to you about a minimum income, the one that avoids the monthly overdraft Nothing prevents you from paying more for you if you can!
To make your budget, just take your last statement of account and highlighters of different colors. Identifies with a color the monthly levies, with another color regarding the diet and all other recurring mandatory expenses. Once you have analyzed your statement of account, you can create your budget quickly and know your minimum income necessary.
Earn From your Skills
I started as a writer in my College (I use to write an Essay, Assignments for other Students in cheap). That time I don’t have any idea that my writing skill could help me in near future to earn good money.
After College, I got a job in Marketing firm as SEO trainee and I discover the power of content, a good content can give you a lot of money. If your content is good, informative and importantly make readers to read it… Google loves it. While working in a company I started few blogs optimize them and earn from AdSense. One day I decided to join an online platform for online assignment help for students, which helps me to earn extra income just for writing online assignments for students in various niches.
So, if you are good at writing, want to earn some extra income you can contact some of such platforms and provide your service and importantly you need to worry about finding jobs online. This will help you in maintaining cash flow for your projects, startup etc.
Separate your personal account from your professional account
First, because it’s mandatory, then because it will simplify your life to manage your cash and your personal account.
With your professional account, you will pay all the expenses related to your activity and be able to follow more easily the profitability of your company.
Schedule a monthly transfer from your business account to your personal account. It’s your salary. You will be able to manage your accounts more easily if you pay yourself a salary once a month instead of making 3 transfers in the month following the statement of your accounts …
Know your business charges
By making your personal budget, you could determine the income you wanted to pay. Add your operating costs and taxes and you will know the turnover to be made to be quiet … next? Then, depending on the price of your items/services, you can reduce the number of customers to find and set up a specific commercial action plan. There, you know that you are no longer sailing in the fog, you know where you are going!
Saving to pay your taxes … but not only!
The last reflex to have to manage your cash like a pro and do not be afraid to miss: every month, when you take stock of your sales, put aside on savings account the taxes that you will have to pay on these sales. When making the transfer to taxes you will just have to replenish your account with this savings.
Similarly, to plan your holidays or a period a little quieter level sale, systematically save at least 10% of your turnover. You will be able to fill the empty periods, wanted or not … This is what I call my “Insurance holidays”
Consider fallback strategies
One last piece of advice to overcome this fear of running out of money when you throw in: trust your fallback strategies.
If your sales do not take off as much as you want, you can:
· adjust your income if you had planned a little margin.
· to draw in your savings “insurance holidays”.
· look for part-time online assignments works.
· Find Student in your local area how needs essay writing help.
Know your room to maneuver, have simple methods to adjust it, it should free your mind to focus on your heart activity!
So inevitably, I know that sometimes, we are afraid of his figures, we do not always know in what sense to catch them to tame and make his budget.