In today’s economic environment, there is continued talk about the benefits of being an entrepreneur. The uncertainly of whether a job will be there tomorrow is one concern as more companies cut back. People tend to hold onto their job, which lessens the opportunity for others to find work. For those who are are miserable in their current career, they aren’t looking to find a different job for fear they will not find another. Worse yet, if they do switch jobs, and become the “last in, first out” employee, they might be without employment very quickly.
All of these situations are encouraging many to become entrepreneurs. With a growing interest in self-employment, there are also groups of entrepreneurs who are taking on sub-categories, if you will.
Many entrepreneurs who are in business alone are often referred to as solo-preneurs. They have chosen to embark on a business venture on their own, having full control over all decisions, creativity, and direction in which they take their company.
A new one I heard recently is PT-preneur. This was described as a person who is starting a business, but doing so on a part-time basis while the company is established. The are working on building their future, on a limited basis, while keeping their corporate job as a safety net until they are completely prepared to move forward on their own.
Identifying the initiative of a woman entrepreneur, she-preneur and mom-preneur have been used to label this group of female go-getters. (I wonder if anyone has come up with the category of man-preneur yet.)
A term used to label himself, one of our licensees declared that he sees himself as a modified entrepreneur. This as a perfect way to describe his place in the business world. His reasoning is that most people see a business owner as one who owns an established business, and an entrepreneur as one who starts from nothing and creates a business.
The word “modified” was chosen because our business package, similar to a franchise, has the idea, processes, marketing material, etc., in place, but he was responsible for building the business. The benefit of having the tools provided to him enabled him to concentrate on networking and growing his client and prospect lists while the behind-the-scenes tasks were completed for him. Therefore, he sees himself as an entrepreneur – but a modified one.
The primary advantage that a modified entrepreneur has is that you can move into the business quite quickly compared to a true entrepreneurial approach that has an extremely long and difficult start-up phase. It’s reasonable to begin developing the business immediately, rather than spending months creating a website and other marketing materials, establishing processes and procedures, creating correspondence and worksheets, etc.
Rather than go through the trial-and-error of business development, and suffer through the long learning curve that many entrepreneurs experience, an alternative is to choose to be a modified entrepreneur. You can take your idea, and receive help from someone who already has this business model established.
So if the full entrepreneurship idea is a little frightening to you, consider a franchise or comprehensive business package/licensing agreement to help you get started. These options give you the freedom of business ownership, the pride of building a business, and the excitement that you created something that is yours! And at the same time, you have a built-in mentor to help guide you.