Posted in Entrepreneur, Uncategorized

Are you Entrepreneur or Freelancer material

Although both the freelancer and the entrepreneur set out with the thought of ‘being his or her own boss’, there are a few characteristics that set apart the entrepreneurs from freelancers.

The Freelancer

The freelancer is a professional who markets and sells their skills for a steady income. This is akin to doing a job with a specific role but without a boss.

The ultimate aim of a freelancer is to move up the scale both in the fees charged for her services and the quality of clients and engagements.

As the freelancers work alone (or with a small supporting team) it becomes very difficult for them to increase the width of their service offerings. Thus, most successful freelancers have achieved depth in one particular field rather than having a wide-variety of skills or breadth of experience.

The freelancers sometimes coordinate with fellow freelancers to work together on a per-project basis to offer related or complementary services, but they seldom form a permanent team.

The Entrepreneur

Entrepreneurs, at the outset, are on a mission to create a business bigger than themselves. They strive to build a team with multiple skills and ultimately create a venture that is profitable and, at the least, sustainable.

The company is, ideally, built to provide solution to a problem or value-add to an existing solution. An entrepreneur might also focus on a single functional area or an industry but the team has a larger breadth of functions such as marketing, sales, operations, etcetera.

Also read The Startup of you

When the Freelancer turns into an Entrepreneur

As part of my venture, I get to interact with a lot of freelancers and small consulting firms. I have found that most of the people with their own consulting firms started out as freelancers — offering the skills that they would have acquired over a period of time.

As their clients grew in number and the engagements they were executing demanded additional skills, they either started collaborating with other freelancers or hired additional team members. This became a stepping-stone to create a business bigger than the freelancer and the first step to become an entrepreneur.

While writing this article I did not check what the academic and dictionary definitions of entrepreneur and freelancer are. I just wanted to share my practical experiences that came while interacting with freelancers and entrepreneurs.

e27 note: For Fun, below are the Webster’s dictionary definition of ‘freelancer’ and ‘entrepreneur’. 

Freelance: A person who acts independently without being affiliated with or authorized by an organization

Entrepreneur: A person who starts a business and is willing to risk loss in order to make money

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Author:

I am akash bagrecha who is Bachelor as well as Bachelor of Commerce, you might have heard of that as B.COM. I am that guy who did Chartered accountancy course side by side with my full-time focus on B.COM.. You heard it right I feel Bcom was more complicated than becoming CA as it involves 2 additional letters in degree. I am trying to make mistakes and believe me, this 9 to 6 job is not allowing me to do this so I​ decided to write this blog and make mistakes and learn from highly qualified people what entrepreneurship mean to them.

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