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Financial Intelligence for Entrepreneurs: A Practical Guide

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financial intelligence for entrepreneurs

If you have a business, so it’s important to understand the fundamentals of financial intelligence for entrepreneurs. But it’s not enough to simply know a balance sheet from a P&L statement. 

You need to know the difference between an asset and a liability.

I’ve been a business owner for a long time, and I know how easy it is to get lost in the weeds of finance. That’s why I wrote this practical guide for entrepreneurs.

In it, you’ll find a no-nonsense, no-fluff financial intelligence course that will teach you what you need to know.

Section 1: The Basics of Business

The key to success in any business is having a solid business plan. As a result, it’ll help you focus your energy and clarify your goals so that you can create an actionable roadmap for how you should run, grow, and structure your company. Learn More.

Meanwhile, your business plan is the blueprint for your company’s future. From what you do and who your target customers are to where you stand in your market (how many customers you can reach and who you’re competing with for their business), this document will help. 

Your marketing plan is one of the most crucial aspects of your business. Therefore, It will determine if you’ll get new customers, and it’ll make or break your operations plan.

For many, a mission statement or vision for what you want the company to become is used as a guiding principle for your business strategy – kind of like a vision board for your personal life.

Your business plan should cover revenue, expense, and profit. Your profit is the money left over after you deduct your expenses from your revenue. You’ll be surprised by how great you feel!

If you want to make more money, you will want to improve your small business’s gross margins. The gross margin is the total sales revenue after accounting for all of the costs necessary to produce your goods or services. 

Nothing is more important to a small business than improving its gross margins. On the other hand, it’s the amount of money you make after all the costs necessary to produce your goods or services are accounted for. Learn More.

Not sure how much you should be paying for a product? There are calculators online to help you figure it out! Calculate your COGS, revenue, and profit margin to ensure that you’re getting the best deal. With this tool, you’ll be able to understand the true health of your business finances and make informed decisions about how to grow your company with investments and leverage.

When you’re writing your business plan, start with a short, sweet ‘executive summary’ that will help an investor or interested parties understand all the most critical elements of your plan.

Section 2: Personal Finance vs. Business Finance

Starting a business is not easy, so here’s brief writing about financial intelligence for entrepreneurs. 

After your business plan, you’ll need to think about how to fund your company. However, personal and business finance differ in one important way: for personal financial strategies, leverage is an investment strategy.

Leverage is a word that is commonly misunderstood and means different things to different people. If you’re investing in your future, leverage can be a great way to do it.

Understanding debt and equity is key to understanding how leverage works. The debt to equity ratio is a good signal for investors.

This is a tool that can measure the debt your company has to its assets. So, this ratio can help you find the perfect balance between long-term and short-term loans. The smaller the ratio, the safer and more stable your company is seen. This will allow you to access much-needed capital from loan officers. 

That’s right! Businesses use leverage to invest in their companies without having to provide all of the capital. So this can be used as a way to decrease their risk, which is often much more significant than the risk for a business.

Make your business grow! Use business loans to your advantage. It’s another great way to use financial intelligence for entrepreneurs. It’s not a bad thing, as long as you don’t take out more loans than you can payback.

Keeping Business and Personal Finances Separate

The best way to separate your business and personal finances is with a business checking account and credit card, and a small business loan.

Avoid the stress of having to divide personal finances with your businesses. Register your business and obtain a federal tax identification number for financial records.

You don’t want to take any chances with your finances. Therefore, we’ll show you how to keep track of your books and file your taxes so that you can feel confident and find financing for anything.

Accounting and Business Taxes

It’s important to have a plan for your accounting and business taxes. Whether you need help calculating your payroll or tracking your expenses, but we’re here for you.

It’s important to monitor your business growth and prepare for tax season. To clarify, with accurate tracking of your business’s expenses, you can create financial statements, organize your filings, and feel confident that you’re doing the right thing for your company.

Why not take a little time to go over the numbers and see if you’re paying yourself enough? With accounting, you can figure out if you want to manage your books or hire an accountant. Just know that with the cash method, you recognize. Learn More.

The accrual method is a bookkeeping system that’s more realistic than the cash basis because it recognizes revenues and expenses when transactions happen. It requires tracking receivables and payables, but it’s worth it for the accuracy.

You don’t have to manage your accounting yourself. There are lots of great tools, like Shoeboxed, Quickbooks, or Xero that can help you keep track of your business finances.

Running your own business is a rewarding and fulfilling career. By joining the Entrepreneur’s Organization, you can learn from other entrepreneurs, grow your network and make connections through collaborations.

With a clear plan in place, knowing how to use leverage to finance your operations, and a disciplined approach to business accounting and taxes, the rewards can not only be emotional but also financial.

Section 3: Understanding the Balance Sheet

What is the Balance Sheet?

A balance sheet is a form of financial statement that displays the company’s assets and how those assets are financed, either through debt or equity. Most importantly the balance sheet can be referred to as a statement of net worth or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity.

The left side of the balance sheet is all about what the company has, or its assets. The right side is all about what the company owes, or its liabilities.

Sample Balance Sheet
Source: corporatefinanceinstitute.com

An asset is a resource with a financial value that is owned by someone or some organization. For example, an office building may be an asset to the company which owns it. Liability is also a resource, but it does not have any financial value and so the owner must compensate for this by borrowing money. Learn More.

Subsection 3.1: Assets

Current Assets

Cash and Equivalents

You may think that cash is just one of many assets on the balance sheet, but it’s the most liquid and relies on short-term maturities of either three months or assets that can be quickly liquidated, and it’s the most important part of financial intelligence for entrepreneurs.

 If you’re interested in seeing what cash equivalents a company includes, check the footnotes to their balance sheet.

Accounts Receivable

Through this account, you can see how much money is still unpaid on your sales. In addition when the accounts receivable are collected, your cash increases by the same amount.

Inventory

In the inventory account, companies keep track of what they have on hand for raw materials, work-in-progress goods, and finished goods. When a company reports sales of goods, they usually include the cost of those goods in their income statement under the cost of goods sold.

Non-Current Assets

Plant, Property, and Equipment (PP&E)

When it comes to PP&E, you can bet the company has got the bases covered. Whether it’s your buildings or your equipment, you can be sure that they will last and be of use for a long time.

Sample of PP&E
Source: wallstreetmojo.com

Intangible Assets

Sometimes, the fancy things are intangible. Like, for example, patents and licenses. These are intangible because they’re not physical things that you can put your hands on. On the other hand, goodwill and brand are also intangible because they’re related to somebody’s opinion of something.

Subsection 3.2: Liabilities

Current Liabilities

Accounts Payable

Having AP can be a pain, but it’s nothing that an account payable solution can’t fix. Reduce your AP and increase your cash with an account payable solution that will do all the heavy lifting for you.

Current Debt/Notes Payable

The long-term notes payable section includes any debts due within a year, as well as any debts due after a company’s operating cycle. Notes payable may also come in a short-term version, which includes debts that have a maturity of more than one year.

Current Portion of Long-Term Debt

You may or may not lump this account with the Current Debt account. While they seem similar, the current portion of long-term debt is specifically due within this year of a piece of debt that has a maturity of more than one year. For example, if a company takes on a 5-year loan from a bank, so, this account will include the portion of that loan. Learn More.

Sample of Long-Term Debt
Source: wallstreetmojo.com

Non-Current Liabilities

Bonds Payable

Your credit score doesn’t have to be perfect. You just need to have enough money for your down payment, your monthly mortgage payments, and the amortized amount of any bonds that the company has issued.

Sample of Bonds Payable
Source: wallstreetmojo.com

Long-Term Debt

The long-term debt account is where you can find all of the company’s outstanding debt, including the interest expense and principal repayment for every period. It’s derived from the debt schedule, which outlines all of our outstanding debt, the interest expense, and the principal repayment for every period.

Sample of Long-Term Debt
Source: wallstreetmojo.com

Subsection 3.3: Equity

Shareholders’ Equity

Share Capital

This is the value of funds that shareholders have invested in the company. When a company is first formed, shareholders will typically put in cash also a vital part of Financial Intelligence for Entrepreneurs. For example, an investor starts a company and seeds it with $10M. Cash (an asset) rises by $10M, and Share Capital (an equity account) rises by $10M, balancing out the balance sheet.

Retained Earnings

Your company’s retained earnings are the result of all the revenue it brings in from its various business activities. These earnings are then reinvested to generate additional income or to pay out dividends. Learn More.

Subsection 3.4: Calculating Cash Flow & Profitability

Cash flow is just as important as profits, and since you’re investing in your business for the long term, you need to take care of both aspects. You can start by taking a look at the cash flow forecast.

Source: tutor2u

How Is Cash Flow Defined?

Cash flow is an important part of any business. It’s what lets you buy inventory, pay your employees, and make daily operations possible.

Positive cash flow means that a company can meet its current financial obligations. Negative cash flow means that a company is less able to meet its current financial obligations. Learn More.

What Does Profit Mean?

When it comes to your business, there’s no such thing as too much profit. The more you make, the more you keep and the less you pay in taxes!

There are three major types of profit that analysts analyze: gross, operating, and net. All three levels of profitability can be found on the income statement. Knowing each type of profit can give you more insight into the company’s performance.

What’s the most important for a business?

When you’re deciding which is more important to the business, it depends on the circumstances at hand. Also pursuing a financial business must need financial intelligence for entrepreneurs.

If you’re looking to invest in a business, make sure to consider how much money it will bring in every month. Remember, the company’s money is tied up in hard assets or accounts receivable, which means there’s no cash for payroll.

When debt gets paid back or the business starts to see an influx of revenue, it will start to see positive cash flow. In this example, cash flow is more important because it keeps the business running while still maintaining a profit. 

Alternately, a business may see an influx in revenue and cash flow, but there is a substantial amount of debt so it does not make a profit.

Running a business can be tough, especially when it comes to dealing with profit vs cash flow. But don’t worry- we can help! By focusing on profit and not cash flow, you’ll come to realize the importance of making a profit and not just what’s in your bank account.

Section 4: Conclusion

Entrepreneurs may think that financial planning is only for the big shots. But as an entrepreneur, you need to take care of your company’s finances as well. Proper financial planning sets the standard and means that you’re ready for success! With Financial Intelligence for Entrepreneurs, you’ll be able to confidently talk numbers with anyone. 

You’ll also learn how to use financial data to make smarter decisions for your business. Financial intelligence for entrepreneurs helps managers make better, more informed decisions by equipping them with the knowledge of different ratio analyses.

Elena Hudgens is an entrepreneur with 10+ years of experience. She started her journey by building her own e-commerce website on Shopify and turned her $1000 savings to millions in just 2 years. Soon she started different ventures in which she failed and succeeded. And now, she's on a mission to help other entrepreneurs with her life and business lessons.

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Business

10 Best Startup Consulting Agencies In 2022

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Startup Consulting

A startup consulting agency grows when it finds the perfect balance of bringing innovation to the market while staying on track with cash flow, team productivity, and other metrics. An external consultant can guide a startup in many areas, including business strategy and operations

Any business services company has the potential to serve as a startup consultant or have consulting services as part of its value proposition. Let’s look at some of the best startup consulting agencies that advise early-stage companies and entrepreneurs.

What is the meaning of Startup Business Consultant?

A Business startup consultant is an expert in the field who helps businesses get off the ground. A startup consultant handles various tasks, including recruitment, operations, marketing, and other technical issues. 

To set up a successful business, you must have an effective team and consulting committee to advise the company on its operational procedures. They provide expert advice in science, finance, human resources, law, accounting, and more.

Consultants can be classified into two categories:

External Consultant

An external consultant works for a different company or firm. This consultant is employed externally, meaning they work for another company or firm. Because External Consultants serve various clients, they are usually employed on a contingent basis.

Internal Consultant

Every company needs some consultation and advice, but it’s up to the owner to hire a startup business consultant. An Internal Consultant is a person who works for a company or organization. This type of consultant has expertise in a specific area. 

This is our list of the top Startup Consulting Agencies for 2022!

Choosing the right Startup Consulting Agencies is vitally important, as choosing the right partner to outsource your marketing activities is. You can research and shortlist some of the best options here and then decide. 

Accenture

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It’s unlikely that anyone is unfamiliar with Accenture. It is a European multinational that provides IT services and marketing consulting services. Being a Fortune 500 company, it currently serves almost 75% of the remaining Fortune Global 500 companies, an accomplishment.

Year Founded: 1 January 2001

Located: Dublin, Ireland (since 2009)

Team Size:  More than 250,000

Services: Accenture Strategy and Startup Consulting provide business strategy, technology strategy, operations strategy services, and technology, business, and management consulting services.

Deloitte

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Deloitte is the most extensive professional services network in the world regarding revenue and workforce. A prominent worldwide startup consulting firm, Deloitte offers audit and assurance, financial advising, risk management, and marketing services. Deloitte’s subsidiaries are the Big Four accounting firms, not the Big Five.

In terms of its startup consulting services, Deloitte’s most significant source of earnings in 2021 is corporate marketing consulting. Deloitte specializes in developing corporate marketing engagement, experience, and loyalty strategies. 

According to their approach, successful strategies require creative, data-driven, customer-focused approaches and cutting-edge technology.

Year Founded: 1845

Located: London, UK

Team Size: 345,374 employees (2021)

Services: Deloitte member firms offer a broad range of services, including audit & assurance, consulting, financial advisory, risk management, and tax advice.

IBM

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IBM Garage is a worldwide IBM innovation and transformation startup consulting firm that helps organizations rapidly implement wide-scale digital transformation. 

IBM Garage assists organizations in generating fresh ideas and equips them with the disciplines, technologies, and knowledge needed to turn those ideas into financial gains.

IBM Garage says it generates 10x more innovative ideas, produces projects six times as fast, and achieves 102% ROI, thanks to its unique method of collaboration.

Year Founded: 16 June 1911

Located: Armonk, New York, United States

Team Size: Over 282,100 employees (2021)

Services: IBM offers a full range of services, solutions, and technologies for data protection and recovery, including backup as a service (BUaaS), disaster recovery as a service (DRaaS), cyber resilience service, and IT resilience orchestration (ITRO).

GrowthRocks

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Despite its smaller size than other firms on this list, GrowthRocks is a living example of how marketing startup consulting firms don’t have to be big corporations to help other big corporations grow. 

As part of its overall strategy and philosophy, GrowthRocks significantly emphasizes growth marketing. It has provided its services to companies such as Nestlé, FedEx, GE Healthcare, and Volvo, even though it is smaller than other firms on the list.

There are several choices available regarding GrowthRocks’ marketing consulting services. For example, you may choose to have them function as your CMO department or pay by the hour. Lastly, the firm provides marketing training classes and intra-company training programs.

Year Founded: 2.5 years ago

Located: United Kingdom

Team Size: 11-50 employees

Services: GrowthRocks Consulting offers growth hacking marketing consulting for companies, training on the latest growth hacking theory, tools, and techniques, and companies’ approaches and methodologies for marketing professionals and execution.

Capgemini

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Capgemini’s approach is to help organizations achieve their objectives by mixing in-depth technical knowledge with data science, creative design abilities, and innovation. Customer satisfaction is a priority, and each client receives customized flexible solutions.

Capgemini is an excellent option if you are looking for DTCs that allow you to create self-funded initiatives for a higher ROI, as it will enable you to develop self-funded initiatives with a high ROI.

Year Founded: 1 October 1967

Located: Grenoble, France

Team Size: 340,700 employees (2022)

Services: Capgemini offers extensive services to its clients in the following sectors: Business Consultancy. Technology Services. Outsourcing Services.

The Brandon Agency

Source

The Brandon Agency, headquartered in Charleston, South Carolina, provides advertising and marketing services. In addition to Charleston, the company has offices in Myrtle Beach, South Carolina, Charlotte, North Carolina, Orlando, Florida, and Sofia, Bulgaria.

The Brandon Agency focuses on B2B, Healthcare Financial Services, Apparel, and Outdoor Leisure, among other sectors. 

Its business partnership with clients has been working to discover the big ‘WHY’ that connects company goals with brand strategy since the firm’s inception. Furthermore, The Brandon Agency values its ‘blue-collar work ethic and entrepreneurial spirit.’

Year Founded: 1959

Located: South Carolina, United States

Team Size: 101-250 employees (2022)

Services: The Brandon Agency services include Brand Strategy, Media Planning & Buying, Creative, Social Media, Website Development, eCommerce, eCRM, Digital Transformation, Content Marketing, Public Relations, Amazon Marketing, Search Engine Marketing, Conversion Optimization, Video Production, Digital Variable Data Printing, and Software Interface Development.

Customer Magnetism

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Customer Magnetism began as an SEO agency in 2000. In the last seventeen years, they’ve evolved into a marketing startup consulting firm that works with both large and small businesses. They aim to help their clients develop creative and inspiring marketing and advertising, establish their brand online, and generate more revenue.

Customer Magnetism specializes in developing and executing integrated digital marketing programs by combining various marketing channels. The firm’s services include social media and content marketing, paid search and natural search marketing, and web design and development.

Year Founded: 2000

Located: Virginia, United States

Team Size: 11-50 employees (2022)

Services: Customer Magnetism offers Digital Marketing, Internet Marketing, Social Media, Web Design / Development, PPC, Mobile, and Inbound Marketing.

Boston Consulting Group

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BCG believes that human and technical capabilities are critical to the success of digital transformation initiatives and that a bionic approach is a way to go.

It offers corporate finance and strategy, revenue management, international business, pricing and people management, and marketing services to well-known firms like H&M, Starbucks, GSK, and Shell. It has the resources necessary to implement a digital transformation program and, like other large DTCs, charges a large fee for its services once objectives are met.

Year Founded: 1963

Located: Boston, Massachusetts, United States

Team Size: 6,900 to 21,000 employees worldwide(2022)

Services: BCG automates administrative and repetitive activities to help with your lead-to-order processes, digital service operations, and go-to-market strategy.

L.E.K. Consulting

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L.E.K. startup consulting is a multinational management consulting firm with a method of gathering and interpreting data to empower clients. The firm assists global corporations in various sectors, including Healthcare and Travel.

L.E.K. startup consulting provides services throughout the client’s journey. It includes marketing, New product consulting, pricing, and Salesforce effectiveness. Furthermore, this firm from Boston provides webinars showing how it could make a commercial impact.

Year Founded: 1983

Located: Massachusetts, United States

Services: L.E.K startup consulting offers Industrial and Professional Services, Legal Ops and Tech, Outsourcing and Support Services, Properties and Facilities Management, Recruitment, and Staffing.

Ernst & Young (EY)

Souce

Ernst & Young (EY) is a globally renowned accounting, startup consulting, and professional services firm with significant experience in tax, assurance, consulting, and strategy. Microsoft, Carrier Corporation, Discovery, and the City of Oklahoma, among other large companies, are clients of EY.

Year Founded: 1989

Located: London, England, UK

Team Size: 312,250 employees (2021)

Services: EY teams offer assurance, startup consulting, law, strategy, tax, and transaction services to address the complex challenges facing today’s world.

Conclusion

You can find the best startup consulting by looking at the different services they specialize in. Also, we’ve mentioned the 10 best business consulting firms according to the networks they are a part of and their location. Once you have settled on your best startup business consultant, do your homework to get the right person for the job.

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How To Make Money: 21 Best Ways To Make Money

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How to make Money

Many individuals these days are keen on figuring out how to make money. Be that as it may, it isn’t tricky to track down legitimate ways of producing money online because the web is loaded with false organizations, tricks, and fakes.

Nonetheless, if you are steady and research the locales you join with, you can track down an assortment of ways of bringing in cash on the web, and a large number of them require no speculation. This article is for people searching for methods of how to make money.

21 Best Ways will help you to tell how to make money 

People are interested in earning money and learning how to make money. You should know that there are many ways to tell how to make money. You can use social media, print media, or online media to tell people how to make money. Let’s discuss different ways how to make money. 

Earn Money Through Affiliate Marketing

Quite possibly, the most widely recognized method for how to money is through Affiliate Marketing. Its ubiquity has risen and fallen throughout the long term, yet it stays a dependable method for making cash on the web. The best thing about member promoting is that you can turn it into an offshoot for any brand, from Shopify, Amazon, Uber, or FabFitFun.

If you’re a talented advertiser, you can bring in money by showcasing retail items, programming, applications, and different administrations.

While a bit of commission may appear insignificant, remember that you can be an affiliate for multiple brands and use various affiliate links in a single blog post.

The most generally perceived technique for making cash online is through Affiliate Marketing. Its omnipresence has risen and fallen throughout the long haul, yet it remains a reliable technique for making cash on the web. The best thing about part advancing is that you can transform into a branch-off for any brand, from Shopify to Amazon to Uber to FabFitFun.

Part exhibiting grants you to get cash by propelling others’ things. You can get some money by displaying retail items, programming, applications, and various organizations if you’re a capable publicist.

Create a YouTube channel.

Another good option for how to make money is YouTube. Everyone is creating videos and making money on YouTube in this day and age. Ryan, a 7-year-old who reviews products on his YouTube channel, was the highest-paid YouTuber in 2018, earning $22 million. 

Jeffree Star, who has made more than $18 million on YouTube and owns a cosmetics brand that sells approximately $100 million in products per year, is another top earner. His YouTube (and Myspace) fame enabled him to use his influence to earn money online in addition to his YouTube profits.

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Your YouTube channel should focus on a specific topic if you want to build a big, loyal audience. Create videos on makeup, and video games, review products, share skills, make spoof films, or anything else you think will appeal to an audience.

Making money on YouTube generates material that people want to watch, whether educational or entertaining. 

You can use a clever headline to persuade viewers to watch or utilize keywords targeted for YouTube searches. Once you’ve gained 1,000 subscribers, you can monetize your channel with YouTube advertisements.

Become an Influencer

Cristiano Ronaldo acquired $975,000 for each sponsored Instagram post in 2019, making him the most generously compensated force to be reckoned with. While reality stars, musicians, and athletes may appear to be the most powerful influencers, keep in mind that even small-scale influencers can make more money today than they did a few years ago.

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So now you must be wondering, how to make money as an Influencer? To become an influencer, you must first amass a sizable following. YouTube and Instagram are the most user-friendly sites for this. Some of the most powerful non-celebrity influencers generally got their start on these sites. If you want to establish a large Instagram audience, you should look into obtaining more Instagram followers.

As an influencer, you can earn money by charging for sponsored posts, speaking engagements, opening your online store and selling products, including affiliate links in your bio, selling your photos, selling ads on your podcast, getting paid as a brand ambassador, writing a book, appearing at events, and more.

Start your Online Course.

Perhaps the best technique for how to make money is to share your insight. Assuming you are a specialist in a field, you can adapt your understanding by giving web-based courses. A few business visionaries can acquire up to $5,000 each month with online courses. You can sell your seminar on Udemy or your site, assuming that you, as of now, have a following.

Watching different courses in your field is your most prominent wagered for making a famous and fruitful course. 

The stage at which you offer your course will impact how much money you make. You are not required to advance your system if you sell it on Udemy effectively. Maybe you can set it and forget about it.

You could move it to different online journals or your website. If you host the course on your own website, you may need to run advertisements to promote it. You can also create an email list to notify a similar audience about future studies.

Start with a Blog

Blogging is one of the most traditional ways how to make money online. People who enjoy writing tend to start blogs with a particular specialization. A blog on procrastination, cars, dropshipping, toys, and so on, for example, is frequently tight enough in focus to attract a loyal following but broad enough to cover a lot of ground.

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Blogging for a living is not a theoretical concept; it is a reality. Anyone with a basic understanding of blogging, SEO, and how the Internet works can start a blogging business and make money.

However, if you’re starting a blog to make money and are not interested in writing in the first place, you’re wasting your time. Blogging isn’t just a scientific or formulaic endeavor. You’ll be frustrated and upset if you don’t have a deep passion for your craft.

Work as a freelancer.

Freelancer.com is a global market for ideas, skills, and abilities where anyone can work on projects that interest them. The website has been up and running for about six years, during which time it has launched numerous products and features to assist employers and freelancers in getting work done. Because of the platform’s vastness, a newcomer may find it intimidating. 

Nowadays, the most common practice among professionals is freelancing. They are not restricted by a 9 to 5 job and a set income. Freelance workers find work on their own or through contacts or websites. They are sometimes hired by a company or an agency through websites that act as a middleman between freelancers and clients.

Source

Additionally, there is an unending cluster of sites for every industry of independent positions. Independent scholars, for instance, can go after classes on expert web-based composing position sheets and broad independent sites like Fiverr, Freelancer, Upwork, and others. If you find that your work offers no direct web-based lucrative open doors, you can investigate for other transferrable capacities you might have.

You should initially foster an extraordinary portfolio to bring in cash online as a consultant. This might incorporate accomplishing some free work with some perceived mid-level brands. When you have a strong portfolio, you might start contacting expected enormous clients to bring in extra cash on the web.

Make an App

There is a method for creating an app that does not involve any programming experience. When it comes to monetizing your app, adding it to Google Play and the App Store is your best choice. 

And, contrary to popular opinions, a free app can help you earn more money than a commercial one. You can make money by including advertisements or premium features in free software. Because the free software will attract more users, upselling will be easy.

Work as a Content Writer

Confused about how to make money? Content Writing is the best choice. More brands are searching for gifted authors to foster substance as premium in happy showcasing develops. They are specialists in a specialty on how to progress as an author.

Numerous journalists need to be generalists, writing from gastronomy to innovation in various classifications. 

To begin, consider the following: Begin by visiting websites where you can apply for freelance projects. Some examples of such International sites include:

  • Fiverr
  • Upwork
  • PeopleperHour
  • Freeup
  • WorknHire
  • Problogger
  • Freelancer
  • Writing for a Living

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You are not just rehashing what every other thing on the web is expressing. What’s more, that is the thing brands need to pay for: your perspectives, encounters, and insider information about their industry.

Sell used books and games on Amazon.

Amazon’s marketplace makes it relatively simple to list and sell used books, games, and devices. Make sure that the books are in good condition. If you try to sell books that are coming apart or scuffed-up games, you will receive unfavorable feedback.

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Remember to be honest about any flaws, no matter how minor they are or how few people will see them.

Use TaskRabbit to complete tasks.

This is a very simple method for how to make money. TaskRabbit allows you to connect to an established marketplace of people asking for help with chores in your area. This platform provides a range of tasks to choose from, such as home renovations and some minor chores as well.

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The services offered range from minor repairs to more extensive and more intricate tasks requiring a significant amount of time and effort.

Provide delivery for PostMates

You may earn money when you’re in a pinch by using PostMates, and you don’t even need a car for deliveries in busy cities and downtown areas; just a bike.

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According to PostMates website, you can earn up to $25 per hour completing deliveries. You may even earn some tips, making it an excellent choice for folks searching for something to do in their leisure time, comparable to the vast ride-sharing applications that are clogging app stores worldwide.

Work as an Online Tutor

Many students require academic assistance. They may require assistance with a report they must submit or a difficult research paper that they are unable to complete on time.

At the same time, there are many well-educated people who have the skills to assist these distressed students in exchange for a pre-agreed-upon fee.

Online tutoring is an excellent opportunity for both students and tutors because they can set their own schedules and work at their own pace. At the same time, the student and tutor do not need to meet, allowing them to manage all of their work remotely.

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While sciences and math are frequently in high demand for teaching professions, English is extremely popular among international audiences. If you are an expert in a specific field, tutoring may be the most excellent option to make money rapidly.

A degree or involvement with a language is required for this type of employment, so provide your certification, usual passing mark in a course, or other proof showing you’re qualified to coach that area.

If you have a showing degree, you may have a better chance of obtaining a mentoring line of work.

Online tutoring employment can be found on websites such as these:

Focus on training in your specialized topic. If you’ve given a show regarding the matter at a gathering or occasion, you may be considered for web-based coaching, instructing, or tutoring. 

Drive your Vehicle for Uber

You can supplement your income by working as an Uber driver or delivery person if you own a car. If you don’t have a car and prefer to ride your bike or scooter, you can still work as a delivery person. Uber drivers who wish to supplement their income from their vehicle can use Free Car Media to make their truck an advertisement.

Your car will receive a detachable vinyl decal. There have also been instances of Uber drivers selling merchandise from their vehicles. As a driver, you’ll commonly start talking about your and your passenger’s jobs.

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Do you want to know how to make money quickly by driving Uber? If you have a side business, you can demonstrate it to your passengers if they are interested. 

If a passenger exhibits an interest in your products, you can offer them for sale under the driver’s seat for them to pick through. If consumers do not have cash, you can request that they pay the cost through Uber’s tip function.

  1.  Make Investment in Stocks

Do you want to know how to make money investing in stocks is another way to generate money quickly. If you aren’t an expert at picking stocks, you might want to pass on this money-making opportunity. While it has one of the most significant returns, it can also result in financial loss if you are untrained. Look into your company’s financial plans if you currently work a 9 to 5 job.

Work as a Virtual Assistant

With countless people starting their entrepreneurial endeavors, the interest for remote assistants is developing consistently. A virtual assistant is an independent contractor who works from home to provide online assistance. They provide services to individuals or organizations but do not visit their clients’ offices. A virtual assistant’s job is to work from home.

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You can make money online by working on websites such as Virtual Assistant Jobs, Indeed, or Upwork. Many virtual assistants have discovered new ways to make money online by contacting firms and entrepreneurs and asking if they are interested in hiring a virtual assistant. 

Use JustAnswer to answer questions.

People are looking for expertise via the internet. JustAnswer (and similar services) enable doctors, lawyers, engineers, and others with advanced expertise to earn a little income by answering questions from those who would otherwise have to pay a high price for such answers.

This platform is a fantastic resource for the general public. It’s also profitable (for the effort spent) if you want to make a quick buck. Don’t expect to get rich answering questions, but you might be able to make a few dollars here and there if you’re in a pinch.

Babysitting

When you need to generate a few dollars quickly, you can easily do some babysitting. Parents worldwide are constantly in need of babysitting and nanny services.

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Of course, you can directly appeal to people in your network, but if you want to know how to make money, join a site that markets to parents looking for child care services. Care.com, for example, connects parents with babysitters. The company performs all background checks and other due diligence to put parents’ minds at ease.

Work as a personal fitness trainer.

People pay a lot of money for personal trainers to have someone keep them on track. You can provide value while also benefiting financially.

You may solicit people at your local gym, but depending on where you reside, you may need some accreditation (not to mention the gym’s clearance). You might also offer your services on a website like FitnessTrainer. This could also be divided into nutrition and supporting people with meal plans, among other things.

Take up housecleaning duties.

This is a fantastic way to earn up to $20 per hour or more doing work that is frequently in high demand. If you do it effectively and don’t cut corners, you might easily make this a long-term job. 

You could comb your neighborhood or post on social media. You could also utilize Amazon’s Home Services to promote or develop your own modest, one-page website.

Use Airbnb & Offer rooms

One of the simplest ways how to make money on the internet is Airbnb. Without investing in a vacation rental is to become a property manager. Because the vacation rental industry is rapidly expanding, so is the demand for short-term rental property managers. A property manager’s job has a high demand, but it also offers flexible working hours. With Airbnb, you can make a lot of money, primarily if you reside in a tourist area.

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Cars wash

If you are confused and looking for how to make money. People are constantly looking to get their vehicles washed and detailed. You might work as a mobile car washer and detailer without a static site. Connect with people you know, or make some flyers and place them in your neighbors’ mailboxes. Set up a one-page website or distribute business cards.

Conclusion

These are a few simple ways through which you can understand how to make money. Bringing in cash online can assist you with bringing in some extra money as a side hustle, yet it can likewise assist you with getting away from your all-day work and becoming a full-time business person. 

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How Much Money Does TikTok Pay In 2022? Complete Guide

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how much money does tiktok pay

If you are wondering how much money does TikTok pay in 2022, you have come to the right place.

Not only is TikTok a great spot to find a wide variety of videos, and it allows you to browse through them for as long as you like. Did you know that the typical person spends 68 minutes daily on the app? 

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What advantages does TikTok offer to content creators? Does TikTok pay you? How much money does TikTok pay? You came to the right place if you wonder how much TikTok pays creators for those endless scrolling hours and consistent chuckles. 

Individuals can earn a decent living if they build a massive audience on TikTok. TikTok recently released the Creator Next initiative, which aims to help content creators monetize their content. TikTok has been working to assist content creators in generating income. Some of them are earning millions of dollars.

Let’s find out how much money does TikTok pay to TikTokers for views on their videos. 

Can you make money on TikTok?

You can make money in a variety of ways on TikTok. You must be creative and have many followers to make money on TikTok. You can monetize on TikTok through ad campaigns, but you must first understand the platform and its culture. The first step in making money on TikTok is to be a creator and follow the guidelines. 

To be a brand ambassador, you must meet specific requirements. You must gain 100,000 views in the last 30 days and be at least 18 years old. If accepted, you must create good content to draw more followers. 

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The best way to make money on TikTok is through advertisements. You may sell your TikTok merchandise if you have the resources and skills or make money by selling videos on the platform. To know how much money does TikTok pay you and be profitable on this social media site, you must produce exciting and unique content.

How much money does TikTok pay?

Using TikTok, you can make money by advertising brands, posting sponsored content, or by receiving payments for likes. You must have at least 10K followers to qualify for a TikTok payout. 

The TikTok Creator Fund awards money to creators in exchange for using the app and adhering to their standards. They have committed $300 million to pay creators for the program. Depending on the video, each view is worth between 2 and 4 cents.

The more videos you make, the more money you can make. The creator fund delivers around 2 to 4 cents per 1,000 views. If your video receives one million views, you could make between $20 and $40. If your video goes viral and has 10 million views, the creator fund could give you up to $400. All you need is how many views your videos receive. 

You can usually make between $20 and $30 by using TikTok ads or affiliate marketing deals, but you must have at least one million views before applying for this. 

Once you have good views, you can start making money from the platform by advertising. If your video receives millions of views, you can receive $180-$300, depending on audience engagement and the number of views.

How much money does TikTok pay influencers?

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Does TikTok pay you? Some creators make anywhere from $20,000 to $50,000 a year from sponsored content on TikTok. Others are making anywhere from $10,000 to $100,000 every month. Some creators make a living by creating content, and other TikTok users profit by organizing meet-and-greets with their fans. 

Charli D’Amelio charged $100 per meet-and-greet and donated the money to charity. This allowed her to enhance her brand and draw more clients. However, not every TikTok user can generate this sort of income.

The amount of money a TikToker makes is impossible to pin down, but the numbers still provide an idea of what they are worth. Most TikTokers make between $2,000 and $20,000 per post. Those with a million followers make different ranges of dollars per month. A few million dollars a month can be earned by a popular TikToker. 

Charli D’Amelio is the first person to have over 100 million followers on the app. She makes approximately $2,500 for each post.

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People are so excited about TikTok because of the number of users on the platform. While you cannot earn much from TikTok, you can still make a great deal. To know how much money does TikTok pay you, you must stick to your specialty and keep it fresh. You must post regularly to gain a large audience. 

How much money does TikTok pay per sponsorship?

From its looks, TikTok superstars earn money by promoting other firms and selling their merchandise to their audience. Your level of popularity and your audience determine whether or not you can do this. 

Superstars can earn up to $500,000 for a branded video on TikTok, with ordinary TikTokkers earning as much as $100,000 to $250,000. The amount you make is dependent on your number of TikTok followers and your engagement rate, which is the frequency with which users like, comment, and interact with your short videos.

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How much money does TikTok pay per 1000 views?

Does TikTok pay you? Because the company has not been open about its payment system, users are concerned about the lack of transparency. While the TikTok payout formula has yet to be revealed, creators can receive between two and four cents per 1,000 views based on content. 

To create a popular TikTok channel, you must understand what your audience wants. You must be willing to change to accommodate trends if you want your content to be popular.

How much money does TikTok pay for a million views?

However, the quantity of money you make on TikTok depends on your popularity and talent level. You can make between $20 and $40 by receiving one million views on TikTok. Furthermore, you may be compensated for live performances.

How much money does the TikTok Creator Fund pay?

The payment structure of the Creator Fund comprises a combination of variables. To give you some perspective, the creator fund pays around two to four cents per 1,000 views. The creator fund pays you up to $40 for every one million views on your video. If your video gets many views, you can make up to $400

Creators accept their funds based on a variety of factors:

  • The number of views.
  • The authenticity of the views.
  • The level of engagement.
  • The amount of content published.

However, to apply for the TikTok creator fund, you must:

  • Be based in the UK, US, France, Germany, Italy, or Spain.
  • Be at least 18 years old.
  • Hold at least 10,000 followers.
  • Hold at least 100,000 video views in the past 30 days.
  • Hold an account that fits TikTok’s Community Guidelines. 

The creator fund has no limits, as long as you get enough views. While a few TikTok users have suggested that there is room for improvement, the bottom line of the question “how much money does TikTok pay you” is that the more videos you create, the more money you will make. 

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How much money does TikTok pay for viral videos?

Have you ever wondered how much money viral TikTok videos make? Perhaps you will feel somewhat disappointed if you expected a lot. Does TikToke pay you? 

Since we know that viral TikTok videos receive a lot of views, we know that TikTok pays between two and four pennies for every 1,000 views. Therefore, a TikTok video with a million views earns between $20 and $40. You can now estimate the earnings of videos with millions or billions of views. 

For example, Zach King’s Harry Potter Illusion video received more than two billion views, earning around $90,000. Successful TikTok’ers generate big bucks with their TikTok videos, but the average user isn’t accumulating a lot.

How to make money on TikTok?

Now that you know how much money does TikTok pay you, it’s time to see how you can make money on TikTok. While the creator fund on TikTok provides a small amount of money each month, we noticed that it might not be enough to make a living. Some options exist to start making big bucks like those TikTokers. 

We can make money on TikTok in a variety of ways aside from the creator fund, such as:

  • Creator Marketplace: It is a TikTok platform that matches influencers and brands with the same niche to allow them to collaborate.
  • Gifts and tips: Urge followers to send tips to your account or gifts when you’re live streaming.
  • Merchandise: Launch your merchandise and inspire your followers to get them.
  • Sponsorships and Collaborations: Call out to brands for partnerships and collaborations where they’ll pay you to offer their product on the platform.
  • Affiliate marketing: Retain an affiliate link when sharing products and service recommendations to receive a commission.
  • Video platform: Create your video-on-demand platform and charge members to access exclusive content. 

All these ways help you to monetize your TikTok account and earn a significant amount of money.

How to go viral on TikTok?

Many factors determine whether or not your TikTok content goes viral. However, there are ways to increase your chances of achieving viral status on TikTok. Let’s examine some of the factors.

1. Understand your audience

There is a wide variety of content on TikTok, so you need to know your community’s wants and desires. The more you know your audience, the more likely you will succeed on TikTok. 

As an example, if your daily yoga routine TikToks are receiving more likes than your healthy recipe TikToks, you might want to spend more time creating exercise videos. 

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The more you target your audience, the more likely users will be to post and stitch your TikToks. This will lead to more views, which will, in turn, lead to showing up on the For You Page or the Discover page, which will increase your chances of going viral.

2. Promote your content

You can spread the word about your TikTok posts by cross-promoting them on other social networks, including Instagram, Facebook, and YouTube. You can entice your followers to watch the remainder of your TikTok by sharing just the first few seconds on your Instagram story. 

It’s also good to include a link to your TikTok profile and regularly post the link for others to follow. Make sure you post regular content on those platforms and your TikTok.

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3. Post regularly

You must establish a posting routine to appear on other users’ For You feeds. Although we realize that TikToking every moment of your life might be a bit much, setting a schedule is crucial. You can use various free social media schedulers for the same.

It doesn’t matter whether you post one TikTok daily or three per week, as long as your content is of good quality. Establishing a schedule lets your followers see whether your new content is ready.

4. Use hashtags

Using a hashtag can help you target a specific audience or subject so that it gets recommended to consumers. This is because hashtags assist the algorithm in recognizing the topic of your video and promoting it to the right folks. 

For example, when making a TikTok about how to make bubble tea, you may include #bubbletea #recipe #milktea.

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The variety of TikTok trends is so large that it may be challenging to keep up. If you know how to follow them, do so. Join in when a new song or challenge is released that everyone is using or taking part in. 

When you look through your For You Page, look for popular songs and hashtags on the Discover page. Look for patterns and trends and post TikToks that fit with them to boost your chances of being featured on users’ For You pages.

6. Interact with the audience

When you interact with your audience, you can increase your views. Answer all the comments and post TikToks that allow others to respond in the comments section to encourage interactions. 

Once users interact with your TikTok, TikTok will likely recommend your videos to them in the future. Users will see you as a potential friend and will want to follow your content as a result.

7. Keep it short

Even though you can post 3-minute videos on TikTok nowadays, keeping them brief may be your wisest decision. Viewers can pay attention to short videos for longer than lengthy ones, so a quality video that conveys your message in 15 seconds is a terrific approach to get people to watch the whole thing.

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8. Make it funny

We’re indeed all naturally amusing in our unique way. Making your TikToks humorous can increase the likelihood that people will like and react to them. 

Did you witness something hilarious happen throughout your day that you couldn’t believe? TikTok it. Did you remember a joke your sibling told you as a child? TikTok it. You can always make someone laugh, no matter what.

Who are the wealthiest TikTokers?

How much money does TikTok pay to these superstars? Beyond the TikTok Creator Fund, these TikTokers are likely making a lot of money by employing other strategies. 

Typically, 30% to 50% of a TikToker’s earnings come from sponsored posts, and some charge $100,000 to $250,000 per post. Making money on TikTok may be a gamble, but there are several ways.

Wrapping Up

TikTok has grown at an astonishing rate despite being established relatively recently. Because of this, the platform has shared its achievements with its users. While some TikTok fans believe the TikTok Creator Fund can be improved, it still provides some passive income. 

The best way to make money on TikTok is to employ several tactics to go viral. The fans, brands, and other sources will be the source of income. In addition to earning money through the TikTok Creator Fund, there are numerous other ways.  

The popular ways from which TikTokers can make money include Tips, Live Gifts, Affiliate Marketing, and Brand Collaborations on TikTok. Hopefully, this guide on “how much money does TikTok pay” answers all your TikTok payment-related queries.

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