We hear the buzzwords all the time: solopreneur, serialpreneur, wantrepreneur, lifestylepreneur, passivepreneur, mompreneur. But what does any of that really mean? Are we defining your market, your size, your drive? What?
Then there are all those personality types: hustler, innovator, strategist, visionary. Honestly, I hope you have some level of all of these and more if you want to be a successful entrepreneur.
And the worse is when an entrepreneur is defined by their predominant skillset: advisor, leader, diplomat, doer, creator, artist and the list goes on. And on, and……
How does any of this tell you what kind of business to build or if you will be a success? Yes, some personality traits are more easily suited to entrepreneurship but really, unless you are so shy you would faint if you had to speak to a stranger, you can learn to be an entrepreneur.
The type of entrepreneur you are depends on your motive, values, and desire. Do you want to build something from nothing? Do you have a desire for "more" for more's sake? Do you what to be your own boss? Do you want to own your job?
And what type of business do you want to operate? Some people are happier keeping it small or local. Do you want to be a freelancer, a service provider or a shopkeeper?
Maybe you want to start a franchise or network marketing business where the business systems and marketing are provided and you have a well-tested path to income.
Maybe you're more interested in a business that supports social change or disrupting an industry. Maybe you want to build a brand, create a software company or manufacture a product that sells worldwide.
Do you want to lead a small team or your own army?
I've always liked the way Robert Kiyosaki defines entrepreneurs in his cash flow quadrant. It's simple. It's precise. And it tells me as a business coach and consultant a lot more about you as an entrepreneur than your industry or your skill sets.
Are you self-employed? Meaning you own your job. You are the doer. The person doing the activity that produces the income. Often this is where you find solopreneurs, freelancers, and momprenuers, but not always.
Are you a business owner? Meaning you employ others that create a product or provide a service that produces the income. In this case, you spend most of your time as a manager, strategist, and visionary. Not that you aren't all of these as a self-employed but that is not how you would spend the majority of the day.
Are you an investor? Meaning you employ others that create a product or provide a service that produces the income along with the managers to operate the company. This is the category where you find most mature serial entrepreneurs and innovators, but not the startup ones.
But most importantly, I want to know where you are now and where you want to be in regards to self-employed, business owner or investor and I what to know that you have the drive and determination to learn the skill sets you need to achieve your goal.
Any skill can be learned including those all so important skills that many people mistake for personalities or gifts such as leadership, vision, strategy and execution.
In this episode, Pamela and I have a little fun with the buzzwords and discuss the levels of entrepreneurship. Understanding where you are in the levels of entrepreneurship will do more to help you plan your growth, develop a business that you love and stop comparing your "success" to an entirely different type of entrepreneur than any of the buzzwords or personality types every could dream of doing.
Follow along and let us know what level you are at and what level you want to be at. And don't be surprised to discover that you are a hybrid caught in between the levels. The majority of people I work with every day want to be business owners but can't completely let go of that "doer" in them and move completely into the business owner role.