If steady paycheck to count on. i’m totally

If you’ve made the leap into entrepreneurship thencongratulations! If you are thinking about becoming an entrepreneur then youneed to keep reading this because I’m going to tell you about what life is likeas an entrepreneur from an insider’s perspective. Most of the time entrepreneurs find that life is verydifferent in several ways than that of an employee’s. I definitely do. Some ofthe things that are usually different in an entrepreneur’s life are responsibilities, feedback, time management, cash flow, and potential. ResponsibilitiesAs an entrepreneur, your job description could go somethinglike this especially when you are just starting out, your responsibility inyour business may be to do everything. Your non-entrepreneur friends aredefinitely not in charge of handling the entire business of the company theywork for. Be proud of it. It can be tough but sometimes it is necessary inorder to reach the point where you employ others who handle everything for you.

I’ve spent a good amount of time in the “ Do Everything” position andam finally transitioning into a position where I can hire others to handlecertain tasks for me. Cash FlowCash flow for entrepreneurs is a variable. You don’t have asteady paycheck to count on.

I’m totally okay with that. Sometimes you willhave more money in your hand than you need and sometimes you won’t have enough. You may make $100 one week yet make $5, 000 the next. Keep close tabs on yourcash flow so your business can remain stable. Life of Salary EmployeeThe employee is the one who receives a pre-determined amountof payment, weekly or less, as a two-week or two-week term. This amount may bepart or all of the employee’s salary, but there must be a guaranteed minimum towhich it can be relied upon.

This guaranteed minimum is one of the manybenefits of being an employee. SecurityIt is expected that a salaried employee will do the work thatis necessary for the job. Generally, you have more responsibilities than one employeeper hour and often receive higher revenue. A freed employee is an employee whois exempt from overtime payments under the Fair Labor Act. To get thisexception, an employee must abide by the FLSA pay and/or work test. Thisprocess includes most administrative professional and executive employees whoare paid on a salary basis.

These employees usually have more growth potentialthan one worker per hour and have a steady stream of revenue that can beexpected every payday. A Lot of PaymentsPaying per employee per hour can change each payment periodbecause payment is based on hours worked. This could, for example, work 40hours a week and 32 next week. An employee receives full pay regardless of thenumber of hours or days he works. The only exception is if you apply anallowable deduction or if you do not do any work during the week. In the lastcase, the employer does not have to pay him this week.

The employer pays fullsalary, even if there is no job available. As long as the employee is capable, willingand willing to work, he must receive full pay.