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Resource Center > Article
5 Ways Solopreneurs Are Different from Entrepreneurs
1 Nov 16 Posted by: Kevin James Culp
in Featured Articles
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Solopreneurs and entrepreneurs choose to be their own bosses. But distinct differences show up between the two groups in the way they handle their companies.


Solopreneurs - It’s not a question of one better than another. These are just different ways to make a living and capture a dream by being your own boss. Both contribute mightily to the economy. And both can be fulfilling, profitable choices.

Solopreneurs

Your personality plays a big part. Solopreneurs are more lifestyle oriented, entrepreneurs more business-world oriented.

Does a Buyout Drive You?

Right from the start, entrepreneurs start a business with the dream of selling it and making a profit. From there, they can transition to their next adventure.

The solopreneur tends to define success as living the lifestyle he chooses. The goal of starting a business is to find a career path that she enjoys. Growing the company and making it profitable is a means to an end, giving her the lifestyle she wants. They tend to start one company and stick with it.

Do You Dream of a One-Person Business?

Solopreneurs love the idea that they can run their business all by themselves. As a rule, they stick to one niche, becoming experts over time. Eventually they will probably outsource mundane tasks or even take on a part-time or full-time employee, but it’s from necessity, not from choice.

Entrepreneurs love the hurly burly of haggling, thrashing out terms and leading. Solopreneurs tend to hate negotiating, dealing with office politics and working with investors.

Is It All About Lifestyle or the Business?

The typical entrepreneur is comfortable socializing with industry leaders and colleagues. He enjoys the challenge of dealing with suppliers, customers and workers. He likes the fact that he can leave the daily chores of running a company to his staff.

Solopreneurs look on the business they create as an essential step to leading the lifestyle they choose. They enjoy working on the central tasks of their business. What they are looking for is simplicity, meaning a job with no employees and office politics. Their businesses have low overhead and aren’t financially complicated.

Is Your Job Making Connections?

The entrepreneur thrives when he’s out making connections and telling others about what he has to offer. He is happy to have his team do the mundane tasks.

The solopreneur can also network well. But, it takes up a small portion of the day. Most of his time is spent doing the core work of the company. That’s what he enjoys.

Are You a Manager or a Worker?

Solopreneurs are worker bees. They enjoy running their business by themselves. And, without the hassles that hiring and managing staff brings. They want to work, not delegate.

Entrepreneurs are natural born managers. Even if they are the sole employees at the beginning, they consider it a temporary situation. Their goal is creating a team to handle the day-to-day work that keeps the company running smoothly. They are very comfortable choosing goals and leading their team in accomplishing them.

Define Success Your Way

Are you a solopreneur or an entrepreneur? It is important to choose the business lifestyle that is a good fit for your personality and goals. Realize that you can make an excellent living with each choice. And you’ll stand a much better chance of profitability in the long term if you match your type of company to suit your preferences.

Both solopreneurs and entrepreneurs are mainstays the business world. Both add skills and products to the marketplace and financial vigor to the economy.

Entrepreneurs get the publicity, which is a good fit for their personalities. But it can have negative repercussions. Sadly, some solopreneurs feel they must hire employees and become more like entrepreneurs in order to look successful, even if they are already doing well financially as solopreneurs.

You can avoid this problem by clearly pinpointing what makes you feel successful. Then make it happen, either as a solopreneur or an entrepreneur.

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I had the pleasure of chatting with Shawn Pigg, CEO of Hotels Etc. for BusinessOpportunity.com's Podcast series that will be released very soon on our new Digital Platform.  Here is the transcript from that call for our regular RSS feed subscribers who get all of our posts first.

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