Today we will talk about making financial report on the work at crypto social networks monthly. This lesson is perhaps one of the most important in our open University of crypto social networks. Let’s be frank, money is the most important engine and motivating factor in this kind of activity. There are, of course, others, but this is the main one. Therefore, this issue should be approached with all care and seriousness.
The most important tool that shows a real picture of all your efforts, achievements and progress is the monthly financial report. You can, of course, do it more often or less often, but I still recommend to follow monthly version.
The base form for the report is very simple to make. You can use the full list of crypto social networks https://levelnaut.com/2017/12/19/cryptocurrency-social-networks-list/ as a basis and write the total earned amount against each of the projects, and then its equivalent in dollars or bitcoins, for a complete vision of the whole picture.
I want to remind you that the financial report primarily applies to those network users, crypto bloggers and crypto enthusiasts, who are striving to make long-term investments. If you do not plan to create a passive income and you are not interested in diversification of investments in cryptocurrency, then you do not need to make such a report. You can just orientate yourself to the Top Best Crypto Networks, which is published on the Levelnaut website every month, and earn crypto currency in these projects, and make withdrawals monthly for example.
By the way, now I would like to appeal to all representatives of crypto social networks and to users, who are related to their administration. A very big request, friends, specify at least for time of the transition period from Fiat to Crypto-currency, the dollar balance of the estimated tokens and coins of your crypto network. Or specify it in bitocoins. I believe that the equivalent in bitcoins is generally a mandatory thing, because it is extremely difficult for users to understand how each token is quoted today, especially if it is not yet added to the list of crypto exchanges or to CoinCapMarket.
I do not think that the procedure for recording a monthly amount will take a long time, but it will be the source material for your personal financial analysis.
After you see the whole picture, you can understand more precisely what you need to focus your efforts on. Then you will immediately see many obvious points. You, for example, will understand that it is much more profitable to earn money on the Earn network than on airdrops, and once you wait or achieve verification, then you can be stable and guaranteed to receive money from each airdrop and not think about whether they will pay you or not.
You will see where there are new boosters. For example, when I was making the last report, I found new boosters (options for upgrading the account) in the social network CryptoSocial. I saw how many zeroes I had, and I noticed which projects they grow the fastest in. But this is, in fact, the matter of analysis.
As for the financial report, you can do it in any suitable program – in Excel, or in any other. I make my monthly financial report in the usual Notepad, copying the list of networks and indicating only the date on the file and changing the calendar data. It’s fast and convenient. If you do in Excel, you can include additional sections, for example, Booster, Referrals, Curatorship and others.
I hope that you will draw the right conclusions from today’s lesson and I will be happy with your comments.
Some more useful links to the topic