Entrepreneurs are not static figures; they are dynamic individuals capable of reinventing themselves and their businesses to align with their evolving aspirations and goals. This transformation is not just possible; it’s within the grasp of any business owner who is willing to commit to the journey of personal and professional growth. This article delves into the strategies and mindset shifts necessary for entrepreneurs to become the business owners they aspire to be, offering a roadmap for change that leads to both financial success and personal fulfillment.
Understanding the Entrepreneurial Archetypes
Research conducted by Jane Out of the Box, an expert on female entrepreneurship, has identified five distinct archetypes of women in business, known as the “five Janes,” based on a study of over 2,500 female entrepreneurs. These archetypes provide a framework for understanding the diverse approaches to business ownership and the corresponding needs of each type.
The Five Janes: A Snapshot
- Jane Dough (18% of women in business): The quintessential entrepreneur who balances financial success with personal life satisfaction.
- Go Jane Go (14% of women in business): A customer-centric owner who juggles high demand with personal pressures.
- Merry Jane (19% of women in business): She operates a part-time or flexible business, balancing work with other commitments.
- Accidental Jane (18% of women in business): Creates her ideal job, enjoys her work, and earns a decent income, though sometimes struggles with prioritization.
- Tenacity Jane (31% of women in business): Passionate and hardworking, she faces cash flow challenges but is determined to succeed.
Entrepreneurs may see themselves in one or more of these archetypes, and it’s important to note that one’s entrepreneurial type can evolve due to industry shifts, personal development, increased demand, or new life circumstances.
The Power to Change: Embracing Entrepreneurial Flexibility
Entrepreneurs possess the unique ability to shift their business personas intentionally. The extent of change can range from minor adjustments to major overhauls, depending on the gap between their current state and their desired future. The autonomy to decide the pace and scale of change is one of the greatest benefits of entrepreneurship.
Five Steps to Transform Your Entrepreneurial Type
Step One: Choose Your Desired Jane
Consider the trade-offs associated with each type and select the one that aligns with your values and needs.
Step Two: Assess the Gaps
Identify the differences in attitudes and behaviors between your current and desired archetype. Write down the changes needed to bridge these gaps.
Step Three: Develop Strategies for Change
Outline specific actions to transition from your current to your desired type. Prioritize changes based on ease of implementation or potential impact.
Step Four: Stay True to Your Goals
During challenging times, remain committed to your transformation. Each decision should reflect the behavior of your desired Jane.
Step Five: Monitor Your Progress
Regularly review your journey towards becoming your desired Jane. Learn from setbacks and adjust your strategies accordingly.
The Role of Determination and Action in Shaping Business Success
While external factors like the economy or competition can influence business outcomes, Jane Out of the Box emphasizes that results are largely determined by setting clear goals, being determined to achieve them, and taking decisive action.
Interesting Stats and Insights
While the five Janes provide a framework for female entrepreneurs, it’s worth noting that the concept of evolving entrepreneurial identity is not limited by gender. According to a study by the Global Entrepreneurship Monitor, 27% of male and female entrepreneurs across 50 economies report starting their businesses out of necessity, while others are driven by opportunity. This suggests that the motivations behind entrepreneurship are diverse and can influence the type of business owner one becomes.
Moreover, the U.S. Bureau of Labor Statistics reports that about 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. This highlights the importance of adaptability and the willingness to evolve as an entrepreneur to navigate the challenges of business ownership.
In conclusion, the journey of an entrepreneur is one of continuous transformation. By understanding their current archetype and the desired one, entrepreneurs can chart a course for change that leads to professional success and personal satisfaction.
THE AUTHOR:Michele DeKinder-Smith
