Friday, June 21, 2013

Solopreneur vs. Entrepeneur: Which One Are You?

When you go around different social media sites and see other people advertising their business, so many people call themselves entrepreneurs but is that really what they are? Usually, the answer is no. Do not be discouraged, though! This is not a bad thing. When you start an internet marketing or online business, you will begin as a solopreneur -- not an entrepreneur.

A solopreneur is an professional who builds a personal brand that is tied to that person that creates the brand. In contrast, an entrepreneur is a person that builds a brand with the intention of expanding the company/brand outside of themselves. The brand would then be able to technically exist if that individual were to leave the company, sell the company, etc.

Now, most solopreneurs will go ahead and make the shift into entrepreneurial business which in turn will be able to make them more successful if need be. Thanks to the online marketplace, there has been a huge expansion of solopreneurs that enjoy working from the privacy and convenience of their home. Not only has it made networking and connecting with other people simple, it has made it extremely affordable to get started with little to no capital investment.

The defining moment of the solopreneur moving over to be an entrepreneur is when the professional decides to hire people and allow them to work for them. The person is still very involved in the business and would the main person that would be supplying capital to the company, but other employees would be doing some of the other menial tasks or work that someone might assign to them.The entrepreneur would also be striving toward a larger company that would be able to sustain itself and that a team would be able to run smoothly in case of their absence. The last goal might be to eventually separate from the company to take on larger ventures and continue to grow within the field or create similar teams for other companies and earn money by selling these companies at a later time once they have reached that self sustainability.

Though entrepreneurship and solopreneurship might sound very similar and seem like to be one in the same, they have very different connotations and goals that are reached by their founders. Solopreneurs might see their end goal as having a wish to earn something much more than money like happiness, freedom, and self-fulfillment. Entrepreneurs might have some of the very same end goals, but there is a larger influence on the external rewards like creating a huge brand and filling the market.

Remember, the best way to decide what is best is to write a list of goals that you would have for yourself and your business then decide what would be best for your from there.

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Shanice Patrella
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