The terms “self-employed” and “entrepreneur” are easily interchangeable, but there is a difference, sometimes subtle in day-to-day activities, yet very important in the long term.
Since a growing number of professionals choose to start in business without the initial intention to build a team, the term solopreneur is gaining in popularity.
The differences between a solopreneur and an entrepreneur can be elusive, as some entrepreneurs work alone until their business begins to grow enough to build a team. However, those who decide to become entrepreneurs adopt a very different state of mind which is reflected in their daily actions.
Although there are exceptions, the solopreneur will tend to get involved in all spheres of activities of the business: administration, operation, marketing, communication, sales, service… he works hard and long hours. Instead of taking the time to explain the tasks to others, the solopreneur will carry out the work himself. Often, he will even tell himself that things will be done faster and better if he does them. If hiring, the solopreneur will take into account the salary of the future employee as one of the most important selection criteria and will delegate but keeping tight control.
While the solopreneur works long hours at the office, the entrepreneur prefers to be outside of the office in order to meet people and make his business known. The entrepreneur can thrive in this role and allow the team to deal with the daily work.
Where is the root of the difference?
The solopreneur understands the need to network and will do it ad hoc (or inconsistently) on the other side of the pendulum, the entrepreneur tend to love networking, meeting clients, potential clients and centers of influence.
When a person is an entrepreneur in the soul, he is eager to build his team – it is even common to see an entrepreneur hiring an employee who will earn more money than the entrepreneur himself. The entrepreneur believes deeply in his vision and is ready to invest to get there.
Entrepreneurs work very hard, yet differently from the solopreneurs. If a task is to be accomplished, the solopreneur will roll up his sleeves in order to perform, while the entrepreneur will try to delegate as much as possible – understanding that, as soon as he delegates tasks out of his unique ability, he can quickly invest this energy to develop and grow his business.
The difference between a solopreneur and an entrepreneur is subtle and intangible as the majority of entrepreneurs begin as solopreneurs. The state of mind of each makes all the difference.
Understand this difference can determine the direction you will take with your business.
Now I’d love to hear from you, let me know: Are you a solopreneur or an entrepreneur? What small action could you take this week to grow your mindset (and your business!)?
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Until next time! Stay strong, you never know who you’re inspiring!
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