Sean's Notes

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Similar to sales commissions, getting paid based on performance rather than tasks completed or time spent.

Referenced in

The Age of The Growth Agent

Answer: understanding the concept of risk & reward will help you mentally accept a seemingly "overpriced" fee for your service. A client who agrees to a fixed rate lowers your risk and potential reward... You are also incentives to work as quickly as possible on the project (even if you have pride in your quality), every extra hour spent on the project reduces you profit. Agreeing to a performance based payment reduces the clients risk up front, they only pay if tangible results are reached, but this greatly improves your potential reward.