We always hear about this term, or this person, but what is (or who is) an entrepreneur? By definition an entrepreneur is “a person who sets up a business or businesses, taking on financial risks in the hope of profit.” We, however, think an entrepreneur is so much more than that. An entrepreneur is a dreamer, a doer, a risk-taker, a mother, a father, a sister, a daughter, a friend, a colleague and many more.
Saying someone is an entrepreneur is quite broad because there’s so much that can fall under that title. There are also many types of entrepreneurs such as a multipreneur, a solopreneur, a comfortpreneur and a wantrepreneur. If you have never heard of these before - we’ll break down these and a few others for you.
You are a solopreneur if you do everything well… solo. From starting up your business to running the social media accounts to ensuring that deliveries are done, and many other things inbetween you do it all. We don’t say that to scare you off. You wear a lot of hats and yes it’s hard work, but there are also benefits. You can make decisions faster, you make all the profit, you can bring your vision to life and ultimately you are in control of anything and everything.
Do you have a business that has been doing the same thing for months and months, or even.. years? A comfortpreneur doesn’t change much often. You keep doing things the way you did when they started their business. Now that isn’t a bad thing because sometimes if it’s working it’s working, but it’s not always a good thing either. As things change, especially in the world that we are living in currently, there are aspects of your business that also need to change if you want to scale and be noticed more.
A wantrepreneur is someone that has an idea, thinks about starting a business and wants to, but doesn’t. If you are this person all we have to say to you is to listen to the advice of good old Nike and ‘just do it’. Start where you are with what you have and go for it. If it works out, yay. If it doesn’t, then you tried and onto the next million-dollar idea.
You don’t have just one or two businesses, but you have a few, you are always on the go, you are always trying to solve something and you’re just involved in a lot. If any of those sounds familiar, you’re a multipreneur. Being a multipreneur means that you can explore multiple interests, you can try all that you want to and have multiple streams of income.
An intrapreneur is someone that has all the creative freedom, develops and follows through on different ideas and has entrepreneurial skills, but does not actually own or run their own business. If you are an intrapreneur you can explore your creative side all you want and take risks, but not at your own expense. If anything goes wrong you don’t have much invested in the business and essentially you don’t have a lot to lose.
You fall into this category if you sell a product or a service that wants to make a change in the world and you’re dedicated to a cause more than to profits. If you have started up or if you’re running a non-profit organisation, you are a social entrepreneur.
Instead of starting a business from scratch and building it up, a buyer entrepreneur acquires an existing business. Have you bought a business or businesses and restructured it and made it your own? There’s less of a risk involved when you are a buyer entrepreneur because there is already a brand built.
These are just a few examples of which type of entrepreneur you can be, but at the end of the day if you are doing something that you are passionate about, you are solving a problem, you are providing a product or a service and you are believing in yourself and taking a risk - you are an entrepreneur.
No matter which entrepreneurial category you fall into, you work hard, you work long hours, you make sacrifices and you carry on. You also do not need to be a solopreneur, an intrapreneur or even a multipreneur forever - you can do whatever you please at any time