I have been supporting and coaching professional people a long time. Nearly 25 years. I’ve been building businesses even longer.
In that time I have made a number of observations about the characteristics that distinguish entrepreneurs and small business proprietors. I share them with you in this video:
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As you begin the process of finding and developing the best business strategy for your perfect business, understanding the distinction between the entrepreneur and proprietor is vitally important to you.
While you can certainly create astonishing success as either one of them, knowing which appeals to you and aligns best with your goals and what you want to invest your energy doing will help you understand the business systems and processes you will want to plan on implementing.
It’s probably clear to you now that if you design or organize your business strategy with you in the role of “proprietor” when what you really want to do is coordinate the activities of others, you will end up frustrated and unsuccessful, no matter how much money you make.
Likewise, if you are most interested in building your business around yourself and your ‘secret-success-sauce’, then placing yourself in the role of the entrepreneur will be equally dissatisfying.
There are two key distinctions:
- The “entrepreneur” builds value in the market place primarily by leveraging the skills and assets of others, not through his individual technical contribution.
- The small business “proprietor” tends to build his business around himself, his craft, or his expertise and weaves himself into the fabric of the business often to such a degree that the business would not function without him.
Which are you?
Do you think you can be a little of both?
Please share your comments and any questions you might have here on this blog.
Just making this one simple decision will help you make serious forward progress with you business or business concept.
Stay tuned for the next lesson where I’ll reveal another important distinction that will make a world of difference for you.
Be sure to click the “Like” or “Tweet” buttons above or sharing it with one of the “Share The Wealth” links below.
I’m standing for all that is possible for you in life and business.
Sincerely,
Steve
PS- Have you ever heard the expression ‘success leave clues’? It’s true. For some crazy reason many people believe that they are supposed to automatically ‘know’ what they need to know about succeeding in life and business. But when you think of the number of variables and limitless complexity let alone the all the complex beliefs and psychological belief factors involved, its clear that this is just plain wrong thinking.
No matter how much (or little) experience you have, you need a step-by-step system to guide you from where you are to where you want to go. This is just the first of many simple yet critically important distinctions you need to make as you begin and grow your business.
Keep your eye out for my next email which will contain a link to the next FREE Entrepreneurial Success Lesson.
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Thank you for your valuable insight. All of your videos have been very helpful to me. The discernment between a proprietor and an entrepreneur was something that I think I really needed I’m not even 21 yet and I already feel like I’m well on my way, Thanks Steve!
Steve,
Cashflow is the issue for me. I need to generate an additional $2,000 per month to sleep at night.
Thanks for your thoughts….
Steve,
I have listened your video post online and have digested your presentation.Having given much thought to your distinction of these two words,I believe myself to be and Entrepreneur. As we work together,we may have to explore this further.Thank you for explaining the difference and relationship.
OG
Steve,
I am an entrepreneur. I do have much technical knowledge that I can serve as proprietor, but I always see a bigger picture, and I always recognize other people’s capabilities and how we could complement one another. I believe in collaboration rather than competition. Why should anyone compete rather than create their own, and even better – with the help of the other?
Thanks
Peter
Hello my new friend Steve, I have always thought in the back of my mind I just wasnt like everyone else. The funny thing is now at 43 yrs.old it hit me after watching your video. I knew all my life there was no way I could do the same thing every day.Im not lazy its that excitement of new ideas and following through with them.I have worked for the( boss man ) but always deep down felt like Im just making this company get wealthier everyday. Freedom is such a great word ,though if not for the 9 to 5 man it wouldnt all work out smooth and so Im greatful for them.My thinking of a good day is doing your best ,no time clock,no one telling you do this do that to name a few.We are all unique,I respect that and theres no choice sometimes in doing what you have to for your family.Myself I am happy to find my place in life ,actually knowing I fit in plus the good people I fit in with. Thanks, Mark .
Hi Steve,
Where does the direct selling network marketing/multiple level marketing business model fit? Is it entrepreneure or proprietor?
Thanks
I think I have already done this lesson before.
The answer is not as simple as you could think. Maybe I could be a little bit of both. It depends on which sort of business you will build. I am not clear of this and I don´t have a clear business-plan either, yet.
I think I am more of a small business proprietor, though. I am definitely the one in charge, the leader, anyway.
Keep up your good work! Lena
I’m still struggling to pull myself together in understanding the internet and how to make money. I’ll be really jacked when I make my first several dollars, to inspire me to feel good about all of this. There has been alot to ingest. I don’t want to give up, I believe its time to move on to a new adventure in my life. I’m going to make it. Christine
Thanks for the info Steve, I am currently steering my business in the direction to free myself from doing the work to working on my business.
I am greatfull for your first lesson hopefully I’ll get better with knowledge.
Great info Steve; who’d a thunk it would make a difference to understand the distinction – but it does!
Steve, I must admit that I’ve never heard this distinction made between being an entrepreneur and a proprietor. I do believe that I am a little of both; I love to create and I love managing others to expand my vision. Maybe a little of my problem is that I have a difficult time focusing on one or the other? I look forward to your next video.
Steve,
Excellent start to your program!!! After 20 yrs in the medical equipment sales business I started my own company just over 7 years ago. I am definitely a proprietor at this time, since my company needs me to produce significant sales at this time. However, my goal is to evolve into an entrepeneuer, where I will able to be more strategy based. My biggest challenge is that I am sort of in that “in-between” position, which is often frustrating.
Looking forward to learning from you.
Hi Steve. Concisely said in your first video, and a very obvious difference that you give voice to. Wouldn’t have been able to articulate it had you not done so. I admit to being a bit of a sceptic to all this because as one of the other bloggers said, there are a lot of nonesense talkers out there. I’ve a few days into the “Find you perfect business…21 days…” and it’s ringing true. got it from a friend of mine (which unfortunately means I don’t have a username and password – he’s lost it
Can you help with that? Otherwise I’m getting limited info here and would like it all.
Looking forward to the next video.
Cheers from South Africa
ut I think it should fit me to start as asmall business proprietor, until I get more experience.I thought you should send one video/week, to help me foccus and absorb the information? I don´t know but I think I definitely recognize this video.
I am still bowled over by my results of your questionnaire that I did yesterday, it is all very definitely me and explains one two blockages in charting my own course!
I have a proprietor mindset and your information in the wonderful video is very new to me, thank you for sharing!
Great information Steve. There is so much get rich quick garbage out there on the web, alot of snakeoil salesmen,you are the real deal. The survey was right on, you nail it! I would have thought you knew me. I’ve been in the metal restoration biz now for about 40 years and my own biz for the last 15 years, I’m a one man operation so I’m a proprietor. The work has steadely gone down hill since 911 and at this point I’m about to loose everything, so I know I need to be thinking in a new way, possibly more like an entrepreneur? You have given me hope. I love the videos, I just got the book today and will work at it for next 21 days. Thank you Steve.
Hi,
If only i had found you sooner, i recently partnered up with an established company to start a division within their current structure as my idea is similar to the core business they do. The reason i chose to do it this way was because my experience in business management is non-existent but am determined to be my own boss. I frankly believe that there is greater potential for my life and this is my motivation to carve out my contribution to the community and legacy i leave. What can i do in light of the fact that i have already committed all my finances and reputation on a new concept when the survey leads me to more of an established business model like a franchise and advises that breaking into new markets would not be suited to me?
Kind Regards from South Africa!
So how do joint ventures figure in this distinction? I like many aspects of both proprietors and entrepreneurs, but ideally I like to share in a more equitable relationship with others. I’ve had enough of working alone and managing others is not really my goal either. Is there a way to combine these two approaches into the partnership model? By the way, I like your delivery and approach. Thanks for the video presentations and illuminating info.
Hi Steve , thank you for the explanation of the two conceipts. I intend to create on entreprenourial business using multiple sources to get required beneficial results for my clients. I am still in the planning stages and I am looking forward to your next lesson.
Believe and create miracles in your life.
Best wishes
Hana
Hi Steve
Thanks for the information.
Which am I: Entrepreneur or Proprietor?
After working for someone else in a particular
manufacturing industry for some years, I
got to know the product, how it was made
and how it was marketed. I started out on
my own to mfg. and market the same product…
so in my case, I was equipped with knowledge
about the product and the demand for it.
To make my venture work, I knew at the
start I was a proprietor and would have to
prove by actions that I could and would
ease into being a Entrepreneur…and that’s
exactly what happened.
Now I don’t have that business any more
I want to start a different one.
Thanks for your words of wisdom.
I look forward to the rest of the videos.
Regards
Larry
Hi Steve,
Thanks for the distinction, very insightful.
I always assumed I am an entrpreneur but have had trouble “trusting” others to do the work as well as I do. As you can guess the work is centered around me so it may just be that I’m a small businessman with my own” special sauce”. Or just a perfectionist!
Very worthwhile video. Thanks again.
I’ve owned a small manufacturing business for 16 years.. hate it… I recently hired a psychologist and was tested extensively..after the results came back I realized why I hate my work. I’m working against my strengths. Just because I can do something, doesn’t mean I should. I’m a big picture person and the day to day details should be left to others. I was told I need a Pepper Potts, (Iron Man Movie)
I took the test presented here and it just re-confirmed my previous findings.
I grew up in a family business. My brothers have small businesses. I wrongfully assumed I was cut out to do the same. I was wrong and have paid the price.
I’m an entrepreneur. I’m sitting at my small business right now, it’s Sunday, and I’m about to work all day. It’s not a successful business, not what it should be anyway, but it’s because I’m not happy and I’m not motivated. I was taught to be a worker and I can work as hard and as long as anyone you’ve ever met, but hard work alone isn’t the answer.
I don’t know this man, Steve Little, but I can tell you from personal experience, he’s dead on the money. Know why you want to be in business and know if you’re following you’re own strengths. Just because your dad was a small business owner and your brothers own small businesses doesn’t mean you should. It doesn’t mean it’s in your DNA to be like them. I’m an entrepreneur, and I’m embracing it.
The fact Steve is helping you/me, understand the importance of knowing who you are, before you make life changing decisions, tells me he has integrity.
Dale Robbins
Evergreen Natural Products, Inc.
Your questionnaire response and video have really helped me to understand where I’m headed where I want to head and what strengths I have got to help me get there. I do think being an entrepreneur with a slight proprietor edge these days helps to build a little security to reduce a bit of perceived risk of being 100% entrepreneur. Loving having the wealth of your wisdom on all of this.
Hi Steve, your survery was very accurate although I felt that some things you said annulled each other out – so that confused me. I am a business owner, in fact the business is me! Lyda
Hi Steve,
Thanks for sharing some of that many things that you know.
You are definitely one very evolved and amazingly confident guy.
I see myself as an Entrepreneur because I want to expose and lead others to new ideas and concepts that help them towards the fulfillment of their visions.
The delivery of the information, tools, and ideas, plus the actual implementation and the ongoing coaching is where many of the rewards are for me, and it allows a pretty terrific lifestyle as well.
I’ve struggled with is the initial structure of my “theperfectbiz”, and I’ve had some lean financial periods but I’ve rarely done what I didn’t enjoy doing.
In doing that, my vision of being an encourager is fulfilled through the work that I do.
Thanks for helping us along, we’re lucky to have you,
Rick
Thank you for the Video Series.
I am looking forward to learning from you.
I have had my own businesses in the service providing and catering industries. You get to a point of expanding and employing others or burn out. I did the later. Not understanding that you have to give over control or trust in others to allow yourself room to expand. Unfortunately I believed in ‘nobody can do it like you can’ and that they will let you down sooner or later. I think I was affraid to make that next step.
Anyway that is all in the past and hopefuly I have learnt more about myself and what I am capable of.
I am looking forward to learning to be the next Entreprenure on the block.
Hi Steve,
This is lending some new insights — maybe just in time. I’ve long assumed that I’m the entrepreneurial type, because I’ve started & successfully run 3 small businesses in my life, in between employment for others. And I’m full of creativity and have lots of good ideas for new projects that I haven’t got time to realize on my own. But in fact, so far I’m more of a proprietor, since the work I do is highly skilled and individualized, and except for CD recordings, not replicable by others. My current business is in the arts: music, writing, teaching. After 17 years of “enough” monetary success and a great reputation in my field, over the past 18 months everything’s been unraveling in this economic climate: the foundering of institutions I’ve worked with and for, plus individual clients’ lack of discretionary income, has cut my income to about 20-25% of what I’ve been used to. This couldn’t be more urgent.
My test results show me to be an extrovert (no surprise, among other things I’m a performer!), with strength areas in entrepreneurial, sales (ugh-did many years of indentured servitude in PR), training/counseling & service. Independent, innovative. Tend to want to control the results carefully.
I want to continue to offer my own work, which is of high quality, potentially in new motivational areas around my zones of expertise. It’s important to me to provide something of real value to others. But I need to do it on a much bigger canvas, and I may be one of those people who begins as a proprietor but must become more entrepreneurial in order to create and package a product or service that “keeps giving back” to me financially in a reliable way after I’ve put it out there. Whether it’s royalties from songwriting, or an online course I create that is unique and serves a real need for people, not an artificial, advertising-created one…. When I executive-produced and did the music on a couple of commercial musical CDs a number of years ago, I hoped they would be a start in my artistic ”legacy” having at least a small financial life of its own. Very small indeed! What they call a “succes d’estime” in France — highly regarded, but not a monetary success.
Looking forward to further insights, and thank you.
Ok I looked at the video again, I am Proprietor, I want to start my own online music production to promote my CD Album. Once it starts creating a steady income through sales I will hire someone to manage it for me and I will focus mostly on my music, at the same time I will promote my music and others through my business and support it as an artist and a music career consultant.
Hi Steve,
very informative. I believe I am more likely to be a proprietor. The possibility of becoming more may be for sometime in the future. Right now I can’t wait for you to tell me how to prosper best as a proprietor.
Thank you for the distinction of the different types of business. I have made my decision to stay with small business which helps me. I enjoy working with homeless veterans and continue to do labor work, just so that most of us may survive and accept what is given too us. Steve
Thanks Steve, for making the distinction between entrepreneur and proprietor. I have been contemplating starting my own business and you have really given me something to think about. From what you said, though, I think I am more the proprietor, with leanings toward the creative side. I look forward to hearing more from you.
Hi Steve,
I need more time to read and understand your 17 page report.
I am running rental business on real estate, I do encounter lots of problem as a remote ownership.
I need to find a good solution, shall I move towards my investment or shall I still doing the uncontrolable remote landlord and be with my family.
Pierre
I’m from New Zealand. Thank you so much for sharing your vast knowledge on the net Steve I really appreciate it. It helped me sort out my business. Up until recently I realised at age 66 I was still working for someone else and not doing what I love. And then I was made redundant just before Xmas. And we’ve just had an earthquake magnitude 7.1 here in Christchurch and our suburb of Brooklands has been hit quite badly. I worked for a safe income and only part-time as a broadcaster and entertainer on the side. Yet that’s where my heart has always been and I’m not getting any younger – I love it. I know I’m good at what I do like public speaking and presenting on TV and stage. Seeing your video and taking that survey just confirmed even more that I should be building my own business around those very skills… and now I’m doing it. I’m building the business around my skills while at the same time training others interested in the same field. I only needed clarity and the conviction to go out and do it.
Thanks Steve,
Your lesson really drove home the point for me. I’ve seen plenty of small business proprietors and been well aware that the business will die with them in most cases. The exceptions are when family is drafted in to keep things going. But even then, the inspiration that began the business is often gone within a few generations.
So I like what I heard from you: you started as a proprietor and worked out to be an entrepreneur. That’s the way I want to go!
Be well!
Steve
Thankyou Steve.
Separating these two words is important and yet we need to be both doing the work and selling ourselves and yet contributing by training so others can be successful too. It just requires more capital and that sounds like the trick , knowing the structure, system and being able to get the capital so that you can do more.
This survey is the most accurate I have ever done, and I have had many throughout my life, every strength has been worked on and when the economy changed and my business decreased and i needed to take anything I took a regular job with all my lowest traits , learned the job quickly and now am bored and not motivated. so I need to trust that I can create my work again and deliver it as I did before only with some strategy now and a system that works. Stay with me.I am working my way forward with you.
Like the manner in which you presented information. I need to think about whether I am an entreprenuer or a proprietor (the survey help me by identifying strengths and abilities (or lack thereof). Thanks for the lesson.
Thanks for the insight. I realize more of my strengths now and I am ready to move from proprietor to entrepreneur!
The survey and video were very eye opening for me. The video gave me thought. I am a proprietor now, with a vision to move into a the entrepreneur role as my business grows. Thanks for taking the time and effort to help us as we grow!
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