Level 2 Qnity

entrepreneur

A person who starts and grows a business with a team. Entrepreneurs earn through profit or salary while taking on higher financial risk, responsibility, and complexity.

intrapreneur

An employee who acts like an entrepreneur within a larger organization, driving innovation and new project developments. They earn steady pay and often receive benefits like insurance or paid training.

overhead

fixed costs of keeping a business open, like rent, utilities, and insurance. is part of operating expenses but doesn’t include direct service costs like products or wages

profit

money a business earns after covering all expenses

risk tolerance

your comfort level with uncertainty and potential financial loss when choosing a career path

solopreneur

self-employed individual who runs a business on their own, handling all operations and decision-making. they control their time and income, and are responsible for expenses, taxes, and planning for benefits

intrapreneurs are employees who typically receive steady pay and may receive benefits such a insurance or retirement options

true

Solopreneurs usually have an employer who handles their payroll taxes and benefits.

false

Entrepreneurs often earn income through profit, salary, or by selling their business in the future.

true

Which path involves the most financial risk and complexity?

entrepreneurs

Which path does Qnity recommend to start your career?

intrapreneur

benefits

non-cash compensation provided by employers, such as extended health care, disability insurance, RRSP matching, and education assistance.

bonuses

extra pay you can earn on top of you regular wages or salary, often based on your performance of how long you’ve worked.

compensation

the full value of everything you earn for your work, your paycheque plus all bonuses, benefits, and other rewards combined.

gross pay

the total amount you earn before any taxes or deduction are taken out.

net pay

the amount you actually take home after taxes and deductions.

drive your income

taking intentional actions that increase income

target your goal

set your income target and check your progress often

track your income

know what you’re earning from all sources, hourly wages, tips, commissions, bonuses, freelancing

your number

the income you need to live the life you want, based on your personal vision and real expenses

average ticket

the average amount of money a client spends with you in a visit

client count

the total number of clients you see during a specific period of time

two number growth

a universal system for growth and increasing your income

rebooking

scheduling a clients next appointment befire they leave

retention

the ability to keep a client coming back over time

referral

when a client recommends your services to someone they know, like a friend, family member, or coworker

commission

a percentage of the sales you brong in, often ranging from 35% to 50%. The more services or products you sell, the more you earn.

hybrid compensation

a pay model that combines hourly pay with commission, or pays hourly until you reach a specific goal, then switches to commission.

sliding scale

a commission structure where your percentage changes based on hitting certain sales targets your rate can increase or decrease depending on performance

intentional spending

making money decisions with purpose, pausing before you spend to ask, “does this align with what matters most to me?”

lifestyle inflation

when your spending increases as your income increases, often without realizing it.

needs

essential expenses that you must cover to live and work like housing, food, transportation, and basic healthcare.

wants

the nice-to-haves that bring comfort, joy, or convenience