You’re a Jobpreneur, Not An Entrepreneur, or are you?
The term entrepreneur these days seems to be banded about far too easily. The Government want more entrepreneurs, business people talk about being entrepreneurs not just business owners, and generally everyone seems to want a slice of the entrepreneurial pie. What about the jobpreneurs though?
My firm belief is that of the number of people running their own businesses, only a very small percentage are actually entrepreneurs, the rest of us are jobpreneurs.
To me, an entrepreneur is someone who has started and run more than one business, either keeping them going with staff running them and making a very good profit, or having sold one or more business for a seven figure sum or more.
They are likely then to keep rinsing and repeating this process; that is starting, growing then selling businesses. They create a formula and they keep applying it and growing their income substantially.
These people are the ones that I consider to be the real entrepreneurs, and they are vital to the successful growth of this country (and every other country).
However, no less important for the growth of this country and every other country are the jobpreneurs. These are people who start their business to create a living for themselves and maybe one or two others. They create income for their suppliers and other businesses who work with and for them.
The Oxford English dictionary defines an Entrepreneur as:
“A person who sets up a business or businesses, taking on financial risks in the hope of profit.”
The Cambridge definition is perhaps slightly more useful:
“Someone who starts their own business, especially when this involves seeing a new opportunity.”
However, I don’t agree with either definition. I really think we need to distinguish from someone who creates a lifestyle business to fund their life, the jobrepreneur, and someone who creates a business with the intention of creating substantial profits and ultimately selling it, the entrepreneur.
I think it is vital that the two terms are created so that when the Government creates a new scheme to help ‘entrepreneurs’, we find out whether they actually mean that they want to help the 5% of entrepreneurs, or the 95% rest of us, the jobpreneurs (I class myself in the latter category although I am very keen to move to the former).
Do you agree?
Are you a jobpreneur or an entrepreneur?