Podcast Show Notes
So you have an idea and start a business or join as an ambassador for an existing company and immediately slap on the nametag that you are an entrepreneur. But is it really that easy? If you sell a product or offer a service, does that immediately mean you can add “Entrepreneur” to your portfolio of job titles? Well, yes and no. There are clear distinctions that must happen before you can print that Entrepreneur nametag. But don’t worry, I’m here to help! This post will outline the biggest differences – solopreneur vs entrepreneur. And find out which one you really want to sign up for!
What is a solopreneur?
So before becoming an entrepreneur, 99% of the small business owners I work with are actually solopreneurs first. They start out working alone. This stage is often skipped over, but when you are working independently, that’s exactly what you are.
As a solopreneur, you are a self-employed individual who works independently, typically selling a product or service. In other words, you are the only one running the show and have no current support from a co-founder or W-2 employee. As a solopreneur, you’re in it alone – you’re the only one responsible for your success or failure and are in no rush to hire employees.
As a solopreneur, you have a hard time letting go of tasks. Even if you’ve considered outsourcing work or bringing in a team member, you find yourself pitching in and doing the vast majority of work yourself, even if that means slowing down your growth.
What is an entrepreneur?
On the other side of the coin is entrepreneurship, when you are committed to changing the world instead of just making money and selling things.
Being an entrepreneur is about big-picture thinking. It’s about having confidence in your business structure that you can step away from the day-to-day tasks and lead a team of people toward a defined goal.
In short, entrepreneurship is when somebody takes their business idea to the next level by bringing on team members and outsourcing to help make it happen.
When your long-term vision demands that you delegate tasks to freelance workers and virtual assistants is when you’re transition from solopreneur to entrepreneur is in motion.
So which one am I? 3 Differences between solopreneur and entrepreneur
Now that you know the basics of what each entails, how do you know which one is right for you? While the line between solopreneur and entrepreneur can be fuzzy at times, here are three factors to consider:
- Are you doing this by yourself, or do you have a team? or open to hiring a team in the future?
- Are you focused on short-term or long-term goals? Meaning – are you building a business to scale and possibly sell it for profit down the road?
- What’s your motivation for having a business – is it just to make money or do you want to change the world and grow it for others?
The path to entrepreneurship may be the right path for you if:
– You want a team working with/for you
– You’re focused on long-term goals
– Your motivation is to change the world
When I sold my direct sales business in 2020 to start on my entrepreneur journey – the biggest question that I needed to answer to choose my path was, “Do I want to build a business that will die along with me, or do I want to build something that can be handed down to my kids and/or be sellable?”
That is how I knew I wanted to not just start as a solopreneur but ultimately become an Entrepreneur. And that is where I am today… inside this transition.
How can I make the transition from solopreneur to entrepreneur?
The good news is that transitioning from solopreneur to entrepreneur is not as difficult as it may seem. In fact, it can be pretty simple if you have the right mindset and support.
If you’re ready to take your business to the next level, then here are a few tips to help you make the transition:
– Delegate and Let Go:
One of the biggest challenges for solopreneurs is learning to delegate. As a solopreneur, you’re used to doing everything yourself. But to grow your business, you must let go and delegate tasks to others. This is necessary if you want to scale your business.
The delegating was the most challenging part of the transition for me. I thought no one could do things as well as I could. But once I understood that I could teach others my exact methods and strategies for doing things, it was easy and very addicting to bring others into our company to take tasks off my plate. I knew they were getting done the way I wanted them to be getting accomplished.
– Focus on Your Strengths:
When you’re going thru the transition to entrepreneur, it’s important to focus on your strengths. Don’t try to do everything yourself – that’s a recipe for disaster. And in all honestly, you’re not an expert everywhere you believe you are. There are others out there who are better in areas than you. So instead, focus on what you’re good at and delegate the rest. This will help you create a well-rounded team and business.
While I can run my business inside out and from top to bottom, I know my strengths are brand strategy. I come in on the front end to set up a client’s plan, polish up marketing assets in the middle, and then run data to strategize inside client accounts at the beginning of every month.
There will come a time when I step away from even this strength, but for now, it’s how I can still be the moving force and touchpoint to our clients while at the same time taking hundreds of project tasks off my plate.
– Seek Out Mentors:
A mentor is somebody who has been through the entrepreneurial journey and can help guide you along the way. Seek out mentors who can help you with specific areas of your business. This could be anything from marketing to sales to product development.
I have a select few mentors that I will run ideas by and strategize with. They are my motivators and shoulder needed when times get challenging or frustrating.
One of my mentors Jenny Taylor and I even created a community for women inside the solopreneur to entrepreneur journey. It’s a tough road; if you don’t have the tools and support needed, the lonely road will be too much for women, and they will give up. To learn more about The Social Note App, we developed – visit jointhesocialnote.com and start your 7-Day Free Trial on Google Play or Apple App Store.
how to become an entrepreneur
Transitioning from a solopreneur to an entrepreneur doesn’t have to be complicated. With the right mindset and support, you can make it happen!
If you’re ready to make the transition to how to become an entrepreneur, then these tips will help you make it happen:
1. Delegate and let go – focus on your strengths and delegate the rest
2. Seek out mentors who can help guide you along the way
3. Focus on your long-term goals and motivation for starting a business
4. Have a team to help you achieve your goals
5. Make sure you’re well-rounded and have a solid understanding of the entrepreneurial journey!
Recap: solopreneur vs entrepreneur
So I hope I’ve made the line between solopreneur vs entrepreneur a bit more clear.
While most solopreneurs will call themselves entrepreneurs, I believe to hold the “Entrepreneur” nametag; there’s a long-term mindset that needs to be there.
But don’t get me wrong. Being a freelancer, ambassador, or service-based solopreneur is AN AMAZING path if you feel like that’s your lane. Embarking on a career as a solopreneur can offer sought-after flexibility for those who want to create and operate a business around their lifestyle, yet simultaneously be ok with a limited workload and earning potential. Being a freelancer, ambassador, or service-based solopreneur is AN AMAZING path if you feel like that’s your lane.
Find more solopreneur tips here.
Making the jump from solopreneur to entrepreneur can be quite intimidating. That’s where CORE Brand Marketing Group comes in to help take the load off of building your business solo.
We help solopreneurs uncover brand clarity so you can supercharge long-term success without ever feeling overwhelmed again. From creating a research-packed strategy to executing that meticulous plan and measuring the results, we handle it all so you can relax and know your unforgettable brand is in good hands.
If you’re ready to take the first step from solopreneur to entrepreneur, then set up a FREE Brand Strategy call online at corebrandmarketing.com. We want you to focus on what you do best – we’ll handle the rest.
Whenever you’re ready, there are 3 ways I can help you:
- Stay on top of your Content Strategy and keep your Ideal Clients Engaged here.
- Design a Memorable Brand Identity to Instantly Stand Out from Competition here.
- Hire us to Build a Done-For-You Digital Marketing Funnel to get your Brand in Front of New People. (Booked out 4-6 weeks)
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