Pros and Cons: Employee vs. Entrepreneur vs. Intrapreneur
What is the relationship between a bass player, a guitar player that sings and a drummer?
Employee vs. entrepreneur vs. intrapreneur. Each of these folks plays a role in the band and hold a different but valuable position. Can you guess who’s who? We’ll get into it! The goal is to figure out which one you are.
An employee, entrepreneur or an intrapreneur. You’ve heard of an entrepreneur, but what is an intrapreneur? Are there really benefits to being an entrepreneur and what are the perks of being an employee?
This post is going to explore all of these questions and more.
Figuring out you is going to help you on your path to achieving your goals and living your best life. However and whatever that looks like!
Let’s dive in!
The Difference between an Employee and Entrepreneur
An employee is a person who works for a company, adheres to a set of rules and schedules for financial security. An entrepreneur takes on the financial risk to start their own business and has more career freedom but greater responsibility. The biggest difference between an employee and an entrepreneur is career freedom and decision-making.
The Difference Between Entrepreneur and Intrapreneur
The biggest difference between an entrepreneur and intrapreneur is the level of financial risk each takes on. An intrapreneur usually has creative freedom and is often considered an executor who can build and support power teams to grow the entrepreneur and expand the business. Intrapreneurs are often driven by the purpose of doing something for a greater whole.
An intrapreneur is similar to an entrepreneur in that their actions are done in consideration of the business as a whole.
Which One Are You
Pretty much everyone has been an employee at one time or another, but how do you know which position is right for you? If you’re wondering What Should I do With My Life? Just know, it takes some digging to uncover the core of you.
Let’s go back to our band and figure out the pros and cons of each member.
Entrepreneur vs Intrapreneur
Did you figure out who was who? Our guitarist and singer is the entrepreneur and in this case, the intrapreneur is the bass player.
In this scenario, what’s the difference? The singer of the band eats lives and breathes the music. Always thinking about the next gig, taking on multiple roles, trying to negotiate gigs and write new songs.
You can’t have a band without a bass player! This guy or gal is the bridge between the drummer and the rest of the band. This bass player also has a passion outside of the band. We’ll say she wants to end hunger in her hometown.
So while she’s not keeping the music from sounding dry and serving as the band's pulse, she’s diving into her purpose.
Pros and Cons
Let’s take a look at the pros and cons. The truth is that some people who start off as intrapreneurs decide to take the plunge on the risk and become entrepreneurs themselves to be able to have the benefits.
On the other hand, individuals who have the passion to become an entrepreneur may stick to being an intrapreneur in order to follow a traditional career path with the benefits of both.
- You are your own boss
- Freedom to create your own schedule
- Decision-making freedom for the direction of your business
- Adventure and excitement through new project ideas, networking and connecting with your audience
- You choose your niche, you follow your passions
- It’s hard to turn it off
- Financial risk, your salary is based on how much and what you do
- Unpredictable schedule - you create your own but you may be working A LOT especially when you first get started
- You have to campaign for yourself
- All the administration work falls on you until you’re able to build up a team
- Any startup business comes with some form of competition
- You can plan your own day
- You’re able to follow your own passions
- You work towards a cause
- You help execute tasks and usually have a team that works with you
- Financial security
- Ownership mindset
- You still have deadlines and create deadlines
- Can be challenging to go from the employee to intrapreneur mindset
- Quality control means you need to learn all the ins and outs of the business
- You need to be skilled in many different areas
- Leadership, approach and hiring conflicts can arise
Entrepreneur vs Employee
In our band example, we’ll say that the employee is the drummer and again, our singer and guitarist is the entrepreneur.
Without the drummer, the singer/guitarist would have no rhythm to play to. Not to say there are some seriously epic guitar solos out there, but you don’t have a full band without a drummer.
As an employee, you can put into your 401k. You can get paid vacation time, pto, and know what your schedule is going to look like. You also have the option to climb the “corporate ladder” if you want to. The question is: do you want to?
Part of Letting Go to Move Forward and Step Into Your Best Life is to really ask yourself these questions.
Let’s look at the pros and cons when it comes to entrepreneur and employee dynamics.
Pros and Cons Between Entrepreneur vs. Employee
When you first start out as an entrepreneur, especially an online or internet entrepreneur, you very well may be starting off completely solo.
Eventually, you’ll need a team.
The pros are:
- A team who can get stuff done
- Relief from your workload
- A chance to grow your business
The cons include:
- Employees cost money
Ultimately, the pros of hiring employees outway the cons. It may take some trial and error, and some skilling up on your part but if you manage to create the perfect team, your business has a greater chance of succeeding.
Entrepreneur vs. Entrepreneur vs. Employee - Who Are You?
There’s really only one way to find out.
Start a blog, start a podcast, start making videos. Keep them to yourself if you want to at first, just start creating. You’ll learn more about yourself by taking action. That’s the name of the game.
3 Ways to Make Money Online
There are 33k Untouched Niche Markets in 2019. Making money online has nothing but potential. Here are 3 Ways to Make Money online, for free with just your time and effort.
Youtube is a huge platform where you can talk about pretty much anything your passionate about and make money doing it.
If you’re passionate about coffee, board games, brewing beer, gardening there are people out there who want to learn more about those passions and you can share it.
Blogging is the best way to get found by Google and the sky’s the limit.
Write parenting tips, cooking how to’s, whatever you’re passionate about and want to share or teach others on.
If you’re more comfortable writing instead of talking in front of a camera, then write!
Ever appreciate a good podcast while driving or working in the yard? If you enjoy conversations, podcasts are a great way to get your ideas out there.
Similar to talk radio, and the best part is, you can transcribe your podcasts and turn them into blogs!
How to Stay Competitive as an Internet Entrepreneur
You are completely unique and it’s not cliche it’s true to say that no one is exactly like you but business is business and the online game is real.
Here are 3 ways to stay competitive as an internet entrepreneur.
You need to publish content weekly. If you can take on the 90-day content challenge, even better!
Content published regularly is the only way Google is going to know that you are someone who is an internet entrepreneur with the intention of growing your business and expanding your reach.
Search engine optimization is another key factor in the content internet entrepreneur game. The more you can learn about SEO and apply it to your blogs, youtube videos and or podcasts the better.
This is a way for Google’s algorithms to be able to know what your topics are about and how YOU can serve their customers (the searchers).
If you go into the online game with anything other than authenticity and best intentions, people are going to sniff you out and your online reputation will be toast.
You have to offer your readers, listeners and viewers value. Have you ever clicked on a blog and was unable to get to the content because there were too many pop-ups?
That’s frustrating. Treat your audience the way you want to be treated. Build a connection and relationship with them, these are the people you’re serving.
There are pros and cons for employee vs. an entrepreneur vs. employee.
Personally, I’ve been in corporate America hell, I did it for years and would never go back. I’ve started multiple businesses, failed, but you just take that as learning for the journey. I’ve had a ton of wins too.
You won’t figure it all out until you start. That’s the process, that's the game. Maybe you’re an entrepreneur, an intrapreneur or an employee, you have to take steps to figure out you. This is How To Make Dreams Come True! Check out that post to get a deeper dive of how I've worked to make my dreams come true and how you can too.
It’s the only way you’re going to stop drifting and start living your preferable life.
Start doing what you love, start creating and over time you’ll narrow into what’s your niche and you’ll have learned so much about yourself.
So which one are you? Leave a comment in the comment section below and if you have any questions hit me up.