What an awesome episode! Ashley brings to the table so much knowledge and experience when it comes to digital marketing. I wanted to bring up a couple key points from this week's episode. We talked about marketing and how word of mouth marketing is one of the most cost effective ways to market product. This is big because it ties into how you network your business and further how your business is perceived by others. It is important that when you build your business, you not only network it but you also make sure that your image is goos too so people can talk about you. According to Forbes magazine, brand image is more important than your logo because it sets the stage for credibility and influence. The Forbes article goes into detail outlining cleanliness if you have a store front, how you're dressed, business cards, etc. All of these create brand recognition and in turn helps to allow customers to start talking about your product or service.
We also discussed some key points on what different terms are within owning your own business thanks to an article written by Eking (2012) here are the different definitions:
Solopreneur: An entrepreneur who works alone, (hence “solo”) and runs his or her business as a one-person-show. A solopreneur may subcontract persons and consultants, yet have full responsibility for the running of their business without an operational team. With the power of the internet, there are many thriving, successful solopreneurs.
Soulpreneur: An entrepreneur who has turned his or her passion into a business, and runs it from the heart, can be described as a soulpreneur. Also used for folks who are in the business of meditation, yoga, massage therapy, life coaching etc.
Youngpreneur: A school-age (middle school, high school or college age) entrepreneur is often referred to as a youngpreneur –typically used for an entrepreneur who is under 21 years old. Youngpreneurs maybe inexperienced entrepreneurs, trying to get their first fledgling business venture going, or may be the owners of a multi-million business already.
Ideapreneur: An entrepreneur who is good at creating new, interesting and innovative ideas, and who can realize them. The ability to move an idea from ideation stage to execution is the key to be an ideapreneur. Otherwise one would only become a “wannapreneur” or an “ideawannapreneur.”
Intrapreneur: An employee or an executive of a corporation who thinks, acts, and operates with entrepreneurial spirit. An intrapreneur takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation. The word derives from intracorporate entrepreneur. Spencer Silver and Art Fry –the folks who made the Post-It Notes happen at 3M make good examples for intrapreneurship.
Wannapreneur: A person who talks about (and even actually comes up with) ideas for business, talks about owning and running a business enterprise, but never takes the step to do so. A wannapreneur may behave like an entrepreneur, attend entrepreneur events, talk to others about his or her ideas, follow and share entrepreneur news; but prefers not to take the risk associated with becoming an entrepreneur –always staying at that ideation stage, and expecting results from it.
Here is the challenge for all of you for the week.......Which type of entrepreneur are you? Is your business putting up the best image and front it can? How do you use marketing to create success? All of these questions will help you to think a little more and see where you are at!
Please reach out to Ashley or I for any questions.
Dustin
References:
Ekinci, K. (2012, August 1). New entrepreneur definitions: Solopreneur, intrapreneur, Mompreneur, Youngpreneur. Entrepreneur Night - A grassroots event for and by entrepreneurs. Retrieved January 7, 2023, from https://entrepreneurnight.com/new-entrepreneur-definitions-solopreneur-intrapreneur-mompreneur-youngpreneur/
Thimothy, S. (2022, October 12). Council post: Why brand image matters more than you think. Forbes. Retrieved January 7, 2023, from https://www.forbes.com/sites/forbesagencycouncil/2016/10/31/why-brand-image-matters-more-than-you-think/?sh=45cbc47310b8
