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A breakdown: The real costs of running a successful business and blog

A breakdown- The real costs of running a successful business and blog - Organizing your finances

I’ve been in business for so long that I kinda grew in to it. I started as a teen, and became more and more serious about my business over the years. One thing I’m so happy about: that I realized early on that everything I earned, wasn’t only for me. Before I hired people, it was just me. So it’s very tempting to think that everything you earn, is your salary. But of course it isn’t. You have expenses, you have less benefits than an employee and probably work a lot more. Here’s how I keep my finances organized:

A breakdown- The real costs of running a successful business and blog

| A breakdown: The real costs of running a successful business and blog | 

Always, always calculate these extra expenses in your hourly rate if you charge per hour. Make the sum: the hours, the expenses, your salary.

My favorite? My holiday allowance. Yep, I give it to myself haha! Which means, I get it every month. Which means, I can travel every month..! So I do 🙂

Here’s a small breakdown of all costs I have to add in my hourly rate:

  • My salary
  • My business expenses (monthly + annual)
  • My taxes (bleh)
  • My holiday allowance
  • My retirement
  • Reserved money for when I get sick / can’t work etc.

Do you add all these costs to your hourly rate? You should! Under business expenses I’ll add: my office, insurances, office supplies, employees, tech investments and more, see below for a breakdown.

When I calculate this breakdown, I also made a percentage calculation. Roughly: 40% salary, 10% everything else (about six categories). Which means, I slowly build up a fund part of my taxes so the shock is not as big as it would normally be. I also add my calculated VAT to that fund.

A breakdown- The real costs of running a successful business and blog - Organizing your finances

| Monthly recurring expenses | 

Unfortunately, the more I grow, the more monthly recurring expenses I have but luckily, the more I can outsource! I love my tech, so here are a few of my monthly recurring expenses of running a successful business and blog (hey, in my eyes I’m successful: I can travel, live my dream and I enjoy ‘going to work’ every day!)

How to grow your income 

These are my recurring monthly expenses, and every month my one-time expenses grow too. The best way to manage this? Grow your sources of income too! More about that in this blog post: 50+ ways to make an income online from home.

How to start a blog 

I work as a fulltime blogger and online entrepreneur so that’s how I earn money. If you wanna learn more how to start a blog, read my step by step tutorial on how to start a professionally WordPress blog you can monetize for as low as $3,49 per month. Start making money by monetizing your blog, like this blogger who earns $50,000 per month with blogging. Woah! If you don’t know where to start when building a professional blog business, check out my article The tools I use to run my 5-figure automated business and blog.

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