Micropreneur: Everything You Need to Know
A micropreneur is another name for a small business owner.3 min read
2. Are You a Micropreneur?
3. Micropreneur vs. Solopreneur
A micropreneur is another name for a small business owner.
What Are Micropreneurs?
People who operate a business with less than 80 employees are generally referred to as small business owners. Some small business owners, however, may prefer a more professional title. Fortunately, there are several options to choose from:
The title that you choose is an important party of your identity as a business owner and can be a way to reflect your skills and potential. For instance, by introducing yourself as a micropreneur, you may be indicating that you are always on the lookout for new opportunities and chances for innovation. Eventually, your actions will reflect the title that you have selected.
If you call yourself a small business owner, however, it can mean that you're content with the current size of your business and may cause other people to believe that you're not interested in growing. The title that you choose can influence both how you think about yourself and how other people perceive you and your business. You want to be sure that the way you describe yourself projects a clear image of your business and the qualities that you possess.
If you decide to use the term micropreneur, for example, you should be aware that this term is very new, and many people may not understand what it means.
The best way to describe a micropreneur is as an entrepreneur who has decided to take on the challenge of owning and operating a small business. Micropreneurs do the kind of work that they love and are generally able to maintain a much more balanced lifestyle than owners of a larger business. While micropreneurs are a type of small business owner, they operate at a much smaller scale than traditional small businesses. Typically, a micropreneur will operate a business that has five employees or less. These businesses are sometimes referred to as microbusinesses.
The primary reason that people choose to start a microbusiness is because of the lifestyle, which is different for those running large businesses. A micropreneur, for example, is usually able to effectively run their business while also enjoying a fulfilling home life.
According to the Small Business Administration, small businesses and microbusinesses are vastly different. If a business has more 500 employees, for example, its operational needs will be nothing like those of a business with only a few employees.
Are You a Micropreneur?
To determine if you are a micropreneur, examine a few issues:
- How many people are in your company? Are you the only employee?
- If your company does have employees, are there less than five? Do you use freelancers instead of traditional employees?
- Are you completely responsible for your company's operation, from marketing your business to ordering supplies?
Another sign that you might be a micropreneur is that you don't have a traditional office space. Many micropreneurs operate their business out of their home, with some not even having a dedicated home office. If your base of operations is your kitchen table, for instance, then you are likely a micropreneur.
Micropreneur vs. Solopreneur
It's common for people to confuse the terms micropreneur and solopreneur. The easiest way to differentiate between these two titles is by examining the purpose and size of a business. Both types of business owner are very conscious of their costs. For example, they will heavily consider if they need to invest in marketing, and if they do, they'll want to make sure they're getting the best return on investment possible.
Solopreneurs and micropreneurs will also want to know how they can effectively expand their business through networking. Micropreneurs, like all business owners, want to make sure that their company can succeed. In essence, a micropreneur is a jack-of-all-trades, handling all the tasks that are important for operating and hopefully expanding a business.
At the start of the day, a micropreneur may be searching for new clients, and their afternoon may be focused on ordering supplies, balancing the books or developing a marketing campaign. There is almost no end to what a micropreneur can do in their business, and if they don't handle the work themselves, then it most likely won't get done.
If you need help getting started as a micropreneur, you can post your legal needs on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.