Do you live on a fixed income? To most of us, the term “fixed income” denotes the income of an elderly person living on Social Security. It produces mental images of limited spending choices and near-poverty. If you think about it, though, everyone who earns a salary lives on a fixed income.
A salary is a fixed income. If you earn a salary, you are on a fixed income. Most people think of a job that is salaried as the cream of the crop – you are guaranteed that money as long as you are employed with that employer. Workers who work by the hour have more control over their incomes. They can work more or less and change their income. If their employers allow overtime, they can earn more by working more. Still, even hourly wage earners are limited in the amount of money they can earn, even if it is simply by the number of hours in a week.
Only employees who are on 100% commission are truly not on a fixed income. When we think 100% commission, most of us think of sales people. But the true 100% commission job is the entrepreneur’s. If you own and operate your own business, you are working on 100% commission. Your hard work and brainpower determine your income. You also take all the risk. When you are on salary, your employer is taking the risks.
Do entrepreneurs need resumes if they are going to be self-employed? Absolutely! We work a great deal with business owners who need a resume for due diligence, for pursuing funding for their ventures, and for public relations/advertising purposes. Part of the value of a new business is the experience and background of the owner. A great resume that portrays that experience in the most powerful way is an indispensable tool for the entrepreneur.