While they say “no risk, no reward”, I’d like to change that a bit for the purpose of this article. How bout, “some risk, no immediate reward”?
In almost every industry, service providers work on a per project, per milestone, or per hour basis. The tasks are determined before the assignment begins, by yourself and your client. An amount and method of payment is agreed upon. And you begin your process, whether that be creative, financial, manufacturing, etc…
That model appears to be going through a process of evolution in the creative world and migrating across numerous markets. The new approach takes from the entrepreneurial notion of banking on equity. If you’re a sole proprietor, the entire equity of your business is in your hands. Your actions determine your earnings (or losses) and your lifestyle is molded by the outcome of those actions (no sales, no rent).
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