The Entrepreneurial Hierarchy
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The document discusses an entrepreneurial hierarchy that moves from being a "wage slave" paid only for time, to a free agent paid for work product or results, to an entrepreneur paid for their ideas and expertise. It encourages the reader to take more entrepreneurial risks for greater rewards by shifting their paradigm to focus on ideas and results rather than just time spent working. The hierarchy suggests increasing levels of risk but also potential reward as one's work moves from being compensated only for time to being paid for ideas, expertise, work product, and results.
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The Entrepreneurial Hierarchy
- 1. The Entrepreneurial Hierarchy From Wage Slave to Free Agent & Beyond
- 2. please thank our sponsors
- 3. Colleen Heubaum Founder, etc colleen@winnowconsulting.com @cheubaum
- 4. What are you paid for? Ideas &Expertise Results Work product Time YOU
- 6. You are paid for your time
- 7. You are paid by work product
- 8. You are paid for results
- 9. You are paid for your ideas
- 10. You DON’T get paid
- 11. Trade-off: RISK vs REWARD
- 12. Where does “ENTREPRENURIAL” begin? Ideas &Expertise Results Work product Time YOU
- 14. Paradigm Shift
- 15. please thank our sponsors
Notes de l'éditeur
- Thank you for voting for my sessionTime keeper? Note taker?
- At one time or another, I’ve been engineer, business planner, product manager, contractor, free-lancer, consultant, business owner, volunteer and mom.Worked for large companies, small companies, start-ups, government and myself.
- Full-time regular employee – working for “the man”They own your work-product, ideas, time – any idea you have is generally company propertyOn company time or with company dime, company says “it’s mine”Pro: Security, benefits, predictabilityCon: Little flexibility. Muzzled? Book: Speechless: The erosion of Free Expression in the American Workplace by Bruce BarryNo control over your income. “Wage slave”. And security is an illusion.
- You are a contractor. Or a lawyer. Or a non-exempt.Pro: some flexibility, some control over income. To some extent you own your own ideas. Con: Income is capped by a practical limit: the number of hours in a day, number of days in a year.
- Agency model. Own your ideas, except those that you sell. Paid for “piece work” or work product. Pro: Autonomy. Can take capitalize on efficiencies.Con: Income is limited by how fast you can turn the crank. Always selling.
- Commissioned sales. CEOHave to move the needle to see the doughThe classic “entrepreneur” – paid to make somethingPro: Nearly unlimited income potential Con: Much more risk – at the mercy of the “unknown” factor.
- True Consultant. Guru. Author, Movie ProducerTom Peters, Seth Godin, etc.Pro: Ultimate ego rush. Unlimited income potential. Con: It’s a tough gig to get. And you are always selling yourself. Constantly have to sharpen the saw
- Contribute to Public Domain.Freeware/sharewareeBooksVolunteerismPros: Visibility. Brand. Experience.KarmaCons: Expensive (time)
- Income potentialSecurity=> RISK vs. REWARDIndependence and AUTONOMYWorking for the man vs. Striking out on your own
- en·tre·pre·neur [ahn-truh-pruh-nur, -noor; Fr. ahn-truh-pruh-nœr] Show IPA noun,plural-neurs [-nurz, -noorz; Fr. -nœr] Show IPA, verb–noun1.a person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk.
- Employment status is an accounting distinctionEntrepreneurism is a state of mindSTART NOW!
- You don’t have to be an EMPLOYER to be entrepreneurialTake risks – think Grace HopperBe creative – innovate and optimize everythingThink leadership – not managementValue work product, not time or tenureFocus on results … what does it mean to the bottom lineShare ideas freelyAutonomy … Book: Dan Pink “Drive”