Ikwordzzper.nl: most common pitfalls
Want to make the most of yourself and your business? Freelance expert Martijn Pennekamp of ikwordzzper.nl (becoming a freelancer) lists the five most common pitfalls for you on this page. Want more tips? Then check out the other articles in the ikwordzzper.nl knowledge base.
1. Not putting agreements on paper
You have a client and go to work confidently. You don't need a contract: after all, you have a verbal agreement. But what if your client understood something different than you did? Unclear agreements can cause conflicts. Therefore, always put agreements on paper, for example in a contract, or use your order confirmation. It is also best to document collaboration with a business partner, for example in a partnership contract.
2. Administration not in good order
You keep your administration in a shoebox: preferring not to look at it at all. Until it's time for your tax return and the stress begins. It is really important to keep good administration. And not just because the tax authorities want you to. Your records give a good picture of how your business is doing. You get insight into your turnover, your costs, your profits, the inventory, poorly or well running products or services, profitable hours. Get good advice from a bookkeeper or accountant, or have them keep your records and discuss the results regularly.
3. Insurance? Just hassle
Insurance? That's not necessary according to you. Way too expensive and you're never sick anyway. Insurance may still be worthwhile. If you play field hockey fanatically, disability insurance might not be a bad plan. And for that cup of coffee you accidentally throw over your client's computer, liability insurance will come in handy.
Tentoo works with Alicia Insurance. This means you can now get insurances that are important to you, whether it's professional liability insurance or insurance for accidents. Reach out to us to talk about the possibilities with Alicia.
4. Defaulters
Some customers routinely pay late. No problem: you'll just have to wait it out. Soon, they will pay. Right? Clients who pay late or not at all can get you into serious financial trouble. For example, your supplier already needs to be paid. And if your client doesn't pay, the job will cost you money instead of generating income for you! If the amounts involved are large, you can even go bankrupt because of one defaulter. A good accounts receivable policy can prevent money problems. Always take action towards defaulters and call in a collection agency if necessary.
5. Not putting aside enough money for the Belastingdienst
Your first bills have been paid and you've already picked out your new car. Unfortunately, a few months later the tax bill arrives and you turn out not to be as rich as you thought! As an entrepreneur, you receive gross amounts from customers. You have to pay taxes on these later (income and sales). Therefore, put money aside in time. In our knowledge base you will find a handy module to calculate what you can spend net of your gross income, so that you have enough in reserve to pay the tax.