Today,

You're going to discover a facet of the entrepreneurial profession that for me personally in my early days, I remember I had done research about entrepreneurial income and I think I never knew how to find clear answers!

So today I insist, no hiding, no taboos and even less tongue in cheek! We tell each other everything, and I'll try to give you all the info I would have liked to have had when I was in your shoes (what a time saver and how many mistakes I could have avoided! 😅)

Maybe you think 👇 

💬 "I want to be a freelancer, to me the good life, the freedom and the Digital nomadic lifestyle🩴🏝️🧴" 💬

Heho, hehoooo, come down among us it's life not heaven!

Every job has its advantages and disadvantages... Well I grant you, being a freelancer can be a total blast but you have to know how to learn and manage your income with full knowledge of the facts.

As you will see, this article is 100% dedicated to explaining this part of the job to you!

So grab a little cappucino, sit back, and let's go my kiki, I'll explain it all 🤓

Here is what we will see together

1. What is the optimization of his income as a contractor?
2. 8 Reasons Why Mastering All Facets of Entrepreneurial Income Management is Essential
3. 3 Tools to master your entrepreneurial income management ?
4. What are the 5 steps to creating an entrepreneurial revenue management strategy?
5. The 5 questions to ask yourself when you want to optimize your income as a contractor
6. My 7 sure-fire tips for successful business management

Don't feel like reading? (even though this article will only take you 10 minutes to read, watch in hand⌚)

Watch the YouTube Video: 7 Tips for Managing Your Entrepreneurial Income

On the channel, I talk about Webflow, Design and Business and if you're interested in the topics don't forget to like and subscribe to the channel.

1. What is contractor income optimization?

• It is to have control over one's income (= private money)
• Control your money, not the money that controls you
• This is the expression "Always pay yourself first." We'll see the peculiarity of that later...
• Make money work for us, and stop working for money
• Think "wealth" rather than "wealth" and the compound effect

2. The 8 reasons why mastering all facets of your entrepreneurial income management is essential

1. Reason #1: To reduce stress

• Controlling your income reduces stress and conflict with yourself and others
• For example: One of the main reasons for divorce is money

2. Reason #2: To increase your wealth

• Who doesn't want to have a "home"?
• We all dream of having our own home one day
• To buy your home, you must have the ability to pay or repay

3. Reason #3: Minimize debt

• I'm not saying that you shouldn't go into debt
• Getting into debt for your home is totally different than getting into debt for a nice car...
• You have to know how to discern what will gain or lose value over the long term
• Moreover, getting into debt is directly linked to your assets, so you can only go into debt up to a certain amount

4. Reason #4: Be prepared for the unexpected

• It is necessary to prepare for the unexpected: health, accident, boiler, ...
• It is advisable to have at least 1000€ - 2500€ in reserve just for these possible "small kwouaks".

5. Reason #5: Taking advantage of opportunities

• With a certain amount of money in reserve, you can quickly jump on an opportunity
• But if you don't have the funds, the opportunity may pass you by

6. Reason #6: Generate more revenue

• "It's about making the money work for us, and not working for the money anymore."
• Know how to set up a Strategy so that the work you do once can bring you income exponentially
• For example: Set up an automated sales tunnel

7. Reason #7: To live a happier life

• Having control over your income, your expenses or your life gives you a better vision of your current situation and therefore on the long term
• This will allow you to be more fulfilled in your life as an entrepreneur
• To have the feeling of being free and enjoying every day

8. Reason #8: To achieve financial independence

• These terms are unique to each person, so there is no one amount of money to label what financial independence means
• Financial independence is, in my opinion, linked to your personal development and not to the way others look at you or even less to the amount in your bank account

3. The 3 Tools to master your entrepreneurial income management ?

1. Tool #1:

What is it?

• The 📒 Workbook"3 Steps to Taking Stock & Setting Goals" (Typeform Quiz)

What is it for?

• Have a professional and personal "Goal
• It must be clear, precise, quantified and limited in time

Where to find it?

• Joining the Happy.webacademy and access here to a private library of ouffissimes resources 🤪

2. Tool #2:

What is it?

• The tool: ⚙️ Happy.Revenus

What is it for?

• Identify your professional and personal income
• Find a balance between your needs and your desires

Where to find it?

• By joining the Happy.webacademy and access here to a private library of even more ouffissimo resources 🤪🤪

3. Tool #3:

What is it?

• The tool: ⚙️ Happy.Expenses

What is it for?

• Identify "Your Expenses" professional and personal
• Find a balance between your expenses and your income

Where to find it?

• Joining the Happy.webacademy and access here to a private library of even more ouffissive resources 🤪🤪🤪

4. What are the 5 steps to creating an entrepreneurial income management strategy?

1. Step 1: Optimize your Mindset

1. You may know the quote "The poor spend their money and save what's left, the rich save their money and spend what's left."
2. It is therefore essential to first save and then spend
   How much? 10% and more before you have even spent anything
3. It is the principle of the adage: "Always pay yourself first"
   It is to keep a capital for yourself before spending it and "passing it on" to someone else

2. Step 2: Take stock of your professional and personal goals

1. What do I want to do every day?
2. What drives me and gives me energy?
3. Where do I want to be in 5, 10, 30 years?
4. What times are convenient for me?
5. ...

3. Step 3: Take stock of your professional and personal income

1. Is my income currently sufficient?
2. Do I have an income that satisfies my desires (while remaining reasonable)
3. Do I charge for my services?
4. ...

4. Step 4: Take stock of your professional and personal expenses

1. Are all my expenses justified?
2. Are all my expenses necessary?
3. On the contrary, am I spending enough for personal growth?
4. Am I spending enough to optimize my business?
5. ...

5. Step 5: Optimize your business

1. Simplify it as much as possible to make the money work and no longer work for the money
   Expression from the book "Rich Father, Poor Father"
   In other words, it is the fact of setting up a profitable ecosystem of your Business
   Book that I invite you to read to go further
   
2. And if you want to have a community and develop your financial management in 5 days, join the "Financial Management" workshop

5. The 5 questions to ask yourself when you want to optimize your income as a contractor

👉 1. Question #1: What do you want to do with your income?

1. Saving?
2. Spend?
3. Investing (See Objective)
4. Small riddle of the 1 cent coin vs having 2M euros today:

• Would you rather have 2M€ on your account now?
• Or 0.01 cents that I double every day for 30 days?
  
  Answer:2M In 30 days = 2M
  0.01 cents in 30 days = 10.7M€
  This is called the compound effect
  

👉 2. Question #2: Are you optimizing your "private" and entrepreneurial tax wrappers?

1. Each country has its own envelopes, so you need to find out
2. Example in Belgium:
   Pension savings
   Insurance Guaranteed income
   Donations
   Mortgage
   Green taxation (example: home charging station)
   
3. For more information: URL Belgium: https://finances.belgium.be/fr/particuliers/avantages_fiscaux
   URL France: https: //www.service-public.fr/particuliers/vosdroits/N19785

👉 3. Question #3: Are you optimizing your Business by making tax deductible expenses?

1. For example: If you work from home, you can make sure that part of the rent or other expenses such as internet, electricity, ... are paid by your company
2. => See an accountant to set this up

👉 4. Question #4: Investment with simple interest or interest with compounding effect?

1. Simple : 100€ x 10% = 10€ per year
2. Composed: 100€ x 10% = 10€ that you reinvest for 110€ x 10% = 11€, reinvest for 121€ X 10% = 12,1€, ...

👉 5. Question #5: Where to invest? Banking, stock market, real estate, cryptocurrency?

1. Bank
   👍 Advantage: Low risk, for sure, but today
   👎 Disadvantages: You don't get much out of it, the rates are super low and the interest is almost zero
   
2. Stock market
   👍 Advantage: It is long term and offers min. 5%
   👎 Disadvantages: It's volatile and risky, so you have to measure your investment
   
3. Cryptocurrency
   👍 Advantage: It's long term
   👎 Disadvantages: It's ULTRA volatile and risky, so you have to measure your investment
   
4. Real Estate
   👍 Advantage: It's long term and represents a very interesting passive income
   👎 Disadvantages: You have to be patient, DIY and learn from YouTube or get help from a pro

6. My 7 Tips for a successful entrepreneurial management

✨ Tip #1: Always pay yourself first

✨ Tip #2: Invest your money in something that will generate even more income "simply."

✨ Tip #3: Follow the advice of professionals in the same field

✨ Tip #4: Don't invest in something you don't understand

✨ Tip #5: Never invest in anything that promises "incredible" income.

✨ Tip #6: Never invest under pressure.

✨ Tip #7: Enjoy life because in the end money and material contribute to it but do not make happiness

Finally,

You've just seen my tips for optimizing your income management as an entrepreneur. These are tips that I use over and over again in my daily life and that have already helped me out of some tricky situations.

My last tip for today is that there is no better method than another!

Use everything you can learn from this or that person, make your own experience and adapt the way you do it and the amounts according to your needs. One person is not another, but every piece of advice is always good to take.

You now have all the keys to put everything you are currently doing to manage your entrepreneurial income in order. Use the 3 tools at your disposal and put your management in order if necessary.

Got a little question? Put it to rest in the community!
How? Join the Happy.webacademy Support Program for free for 10 days to create your Creative Business with Webflow and access a private library of great resources 🤪

(And yes, you read that right! It's free)!

And finally, download your Tools 📔

How to download the tools: ⚙️Happy.Revenues & ⚙️Happy.Expenses?

1. Click here 👉 I access the private library of the Happy.webacademy
2. Go to the Private Library
3. Unlock the Business Space
4. Woop, Woop, more surprises await you inside 🥳 🙌 !