“Wah working without a basic salary is so risky”
That is the common response I got all the time from most of my clients and friends when I told them that I don’t get a basic salary.
I personally find that having a fix-paying basic salary is riskier… and i know many of you may be wondering how can I feel that having a basic salary is riskier where it is certain that I will get my monthly salary at the end of every month? I know many of you will find this debatable. I’m here to share my views, and I would love to hear yours as well.
So here’s the thing, being a professional working as an employee for a company, I will be compensated and paid by just ONE account, which is from my employer. As you know, I have no control of the level of my income I want as my boss will determine my salary and if he decides to fire or retrench me one day, I lose my ONLY account and only source of income.
At the same time, I will have to invest MANY more years into academic and professional education and spend tens of thousands of dollars. By then, I’ll most probably be in my late 20s and there is still no guarantee that I can get a good paying job. To me, the amount of time and money required just to get ONE source of income is much riskier.
But to be fair, everything we do have risks. Think about it. When we crossroads, there are risks, when we take part in a competition, there are risks, when we eat or drink there are risks. There is always risk. So what is risk? Risk simply means, uncertainty of outcome. As what warren buffet said: Risk comes from not knowing what you are doing. And yes, I do agree that working without a basic salary does have its uncertainty if you don’t know what you are doing. The question that we can ask ourselves is, how can we make the outcome more certain for us?
You see, I believe in taking the calculated risk with higher upside potential. And imagine if you are running a business, being self-employed, you no longer just have ONE BOSS, because your clients become your boss. And you can build up your cash-flow with HUNDREDS of clients paying for products and services each year. Yes, you might potentially lose a few clients from time to time, but there is almost no chance of losing all clients in one day if you manage your business well and take care of your client’s needs.
So at the end of the day, everything you do has risks and rewards, as long as you manage the risk well, somethings that seem risky can eventually become no risk to you at all. and because you are willing to take those calculated risk, you get to enjoy the rewards you deserve.
Here’s a video of me talking on this: https://youtu.be/IahVcK6Dvlo