How much money should an entrepreneur make?

Many times, even when you are drafting your business plan, the financial expectations are either set inaccurately or simple don’t take into consideration. The question of how much money you should be making as an entrepreneur, could be answer way too late.

Of course it’s fine to take the future of your entrepreneurship with optimisms, but, and here comes the cliché part of this article, you should never start a business only for the money.

Easier said than done. Even if you have the preparation, the degree, the capital, the proper emotional and psychological state of mind, it is really easy to have unrealistic expectations about the amount of money that you should be perceiving.

Dealing with false expectations

There are many apps and tools that you could download to keep track of your incomes, expenses and the total amount of money you’ll received by the end of the month, the quarter, the year.

But, in reality, if the numbers are misinterpreted you could either be falsely overjoy or highly disappointed.

A Freelancer, for example, to calculate his monthly incomes should take several factors into consideration. First separately, then as a whole:

• What method are you using to receive your payment? This is very important. Now there are many ways to receive your money, other than the usual wire transfers or cash. PayPal, Payoneer are very popular for small business owners.

The fees that you could be paying, however, have to be put into the expenses and, many times, they are not taken into consideration. But when you are making the final calculations, at the end of the year, 10% percent of the total income could have go to fees.

As such, this aspect should not go unattended.

This is only a small element of the whole process, but not what really makes a difference in determine how much should you make as an entrepreneur.

That operation could be, in reality, pretty straight forward.

What you should be aware of is false expectations. Now, that one is tricky, you could be overlooking financial aspects, like the fees you are paying when receiving or making payments, just to start building on top of that false expectation and thinking you are earning more money.

Anyway, it could even be worse. Many entrepreneurs start their business just by thinking about money, thinking that the money would make them love their product, their workplace, the location in which they have set out their main HQ, and so for.

One thing doesn’t come before the other, unfortunately. You gotta love what you do before you can make money out of it. Some entrepreneurs are not billionaires, they are people that love what they do.

Their biggest reward is the everyday job and their total income is also based on that gratification.

This is something that you should always consider when starting your own business.

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