Entrepreneur vs. Solopreneur: What's the Difference?
Updated: Feb 12, 2020
This week I want you to think about the difference between being an entrepreneur and a solopreneur, and which one you are...
We've all hear the word "Entrepreneur" before, but some of us haven't heard of a "Solopreneur."
Let me break it down for you:
ENTREPRENEUR: A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Entrepreneurs put a face to a company, and often decide to hire or outsource work that would be best done by someone who is an expert in that specific area. The entrepreneurial mindset is one that focuses on scaling the business and ultimately hiring people.
SOLOPRENEUR: A person who sets up and runs a business on their own. Most entrepreneurs start out as solopreneurs. At the same time, a solopreneur may decide they don't want to outsource or hire anyone (build a team) and simply manage their workload alone.
One key difference is that an entrepreneur may be more comfortable spending all day at a variety of networking opportunities and client meetings, while a solopreneur is content simply doing the work.
The difference between a solopreneur and an entrepreneur is in the state of mind.
Entrepreneurs work very hard, as do solopreneurs, but they do so differently. When approaching a task, the solopreneur will roll up their sleeves in order to get the work done, while the entrepreneur will try to delegate as much as possible. In this scenario, the entrepreneur understands that by delegating the tasks that are out of his/her unique scope of abilities, he/she can quickly invest this energy to develop and grow the business.
So there you have it! Understanding this difference can determine the direction you will take with your business.
Something to think about...
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