Egopreneur – This is the start-up phase. Businesses started and driven by their owners Ego, guts, adrenalin, and excitement about their product or service. Most Ego-driven start-up businesses are created by technicians. To a technician, time is money. They are doing everything. They wear all the hats. They have created a job for themselves.
Entrepreneur – The Entrepreneur is an Egopreneur who’s had some success; their egos have been stroked by increased revenue and clients. This is the growing phase. They’ve hit the point where they can no longer do everything themselves, and must delegate or outsource. They’ve moved forward, only to realize that there is much more to owning a successful business than selling their product or service. They have to evolve from being a technician to a manager. To a manager time is efficiency. Unfortunately, this transition is rarely well planned, but instead driven by panic and exhaustion, and characterized by chaos. Even their outsourcing and delegation doesn’t prevent them from spending more time working in their business rather than on their business. This is when small businesses tend to fail, never making it to the next, successful phase of owner evolution.
Ultrapreneur – The Ultrapreneur is the business owner who loves getting up every morning to go to their business. The Ultrapreneur has transitioned from the manager to the leader. This is the emerging phase. To a leader time is value. They love doing what they’re doing every minute of every day. They have systems and people in place to make sure that all the other necessary tasks are done properly. It’s the life that all of us probably imagined when we started our small businesses, but that few of us actually achieve. There’s sufficient money for the lifestyle they want; plenty of time to do what they want and to spend time with the people they care about; a sense of control over their life and their business that allows them to love the life they’ve built.
You need to know where you are in your evolution as a business owner