Tweet

Two Entrepreneurs: Living Their Ideal Type

Guest post by: Michele DeKinder-Smith

Article Overview: For a female business owner, living her ideal entrepreneurial type means striking the right balance between business and personal obligations, between hours worked and money earned, and between business particulars and creative outlet. So how does a business owner strike that balance?

Two Entrepreneurs: Living Their Ideal Type

Every business owner has probably sat back in her chair, eyes closed, imagining what life would be like if she was living her ideal entrepreneurial type. Whether she was a Merry Jane imagining a full-scale business that still allowed her time freedom, or a Tenacity Jane imagining smartly directing a team of people to implement her vision, one thing remains important: before changing her type, every female business owner must consider her own priorities to ensure that she truly becomes her "ideal."

A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines two of the five types and provides ideas they may consider before changing their entrepreneurial type.

Merry Jane is a woman business owner who is building a part-time or "flexible time" business that gives her a creative outlet that she can manage within specific constraints around her schedule (whether she's an ad agency consultant or she makes beautiful artwork). She may have a day-job, or need to be fully present for family or other pursuits. Representing about 19% of women in business, she realizes she could make more money by working longer hours, but she's happy with the tradeoff she has made because her business gives her tremendous freedom to work how and when she wants, around her other commitments.

Because time freedom and creative stretch are so important to Merry Jane, she must make thorough examinations of other potential entrepreneurial types before making a change. Most Merry Jane business owners reported high levels of satisfaction with their companies, although most also said they would like to attract new clients and increase their income.

Considerations for Merry Jane:

• Time freedom versus growth: It is possible for Merry Jane to start work with more clients and make more money while maintaining her time freedom - it just may require some juggling. For example, Merry Jane could continue working a desirable number of hours performing the creative tasks she loves, but hire someone to help her with business-related tasks, such as taking information for proposals, sending invoices, and answering e-mails. Once she starts hiring team members, she may shift into the Jane Dough group. If she doesn't hire team members but still wants to grow her business, she may find herself working longer hours than she wants to, possibly feeling overcommitted - a Go Jane Go.
• Creativity versus growth: Because Merry Jane business owners often started their companies as creative outlets, they may be disappointed if business growth affects their ability to flex their creative muscles. Again, hiring someone to handle non-creative tasks could lessen the impact, but any growth will require additional time from Merry Jane. Whether she tries to do it all, like Go Jane Go, or learns to delegate, like Jane Dough, is completely up to her.
• Timing: Merry Jane business owners often have myriad responsibilities in addition to running their businesses. They may take care of their children or aging parents, or they may have full-time jobs in addition to running their companies. Therefore, Merry Jane must consider the timing of any entrepreneurial type change. For example, if becoming a Go Jane Go or a Jane Dough means spending more time working on her business, maybe the transition can wait until her young children enter school, or until the business can support her not having another full-time job.

Jane Dough is an entrepreneur who enjoys running her business and generally, she makes a nice living. She is comfortable and determined in buying and selling, which may be why she's five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women entrepreneurs fall in the category of Jane Dough.

Because most Jane Dough business owners report a high level of satisfaction with their businesses and with business ownership, it is unlikely that they would want to change to another entrepreneurial type. Jane Dough often already is living her ideal type. She brings home a high personal income, enjoys the strategizing on which she spends her time, and manages to fit in time for rest and relaxation. However, Jane Dough business owners can still benefit from the strengths of some of the other types.

Considerations for Jane Dough:

• Communicate like Go Jane Go: Go Jane Go takes business personally, and values her relationships with her clients as well as with her employees. On the other hand, Jane Dough believes business is business - and therefore, in her fast-moving style, she can sometimes communicate abruptly with team members who were inspired by her passion. Even if Jane Dough does not want to change her type, she may consider improving her communication skills so her team members feel valued and appreciated.
• Create like Merry Jane: Jane Dough absolutely loves planning and strategizing for the growth of her business. However, sometimes she is so visionary that she may not be as aware as she should be of what is happening on the front lines of her business. Jane Dough, her team members, and her business may benefit from her periodic "days in the field," when she could stay abreast of the company's daily workings, through time spent with the people and processes.
• Be a role model like Accidental Jane: Accidental Jane business owners define success, in part, by their ability to live life on their own terms - and to encourage others to do the same. Jane Dough, a successful businesswoman by anyone's standards, could adopt a similar mindset and create a mentoring program in her business. Not only could she be a role model to a would-be entrepreneur, but she'd be giving back, like Go Jane Go.
• Stay passionate like Tenacity Jane: Jane Dough is undoubtedly passionate - she could not have attained her level of success without that passion. Sometimes, in the day-to-day operations of any business, though, things become routine, and the passion that drove entrepreneurs to succeed fades. Tenacity Jane business owners show courage, passion and determination every day - and all business owners should strive to do the same, no matter what their level of success.

From deciding whether it is time to make a change, or deciding that she's already living her ideal type, every business owner must periodically consider where she is, and how that compares with where she wants to be. When the two align, she's living her ideal type - and that is pure enjoyment.

Related Articles
  Who Is Your Ideal Client (And Why You Should Know)
  Women Entrepreneurs Getting Back on Track, Part 3: Making the Change
  Knowing Your Ideal Customer – The Key To Developing Products and Services
  Best of the Janes: Changing to Live as Your Ideal Entrepreneurial Type
  Women Entrepreneurs Getting Back on Track, Part 2: Determining the Future
  Best of the Janes: Gaining a Deeper Understanding of Your Ideal Customer
  Women Entrepreneurs Getting Back on Track, Part 1: Assessing the Cause
  SMEs the difference between entrepreneurs and franchisees
  On Success
  Attract More Ideal Clients
  The Marketing Pyramid: How to Find Your Ideal Client
  3 Keys to Getting Your Message Out into the World So You Can Make a Difference
  Who Are You Becoming?
  Inspiring Local Success - June 2011
  Living Ideal: Three Female Entrepreneurs Make the Change
  The need for Financial Education
  On the Cutting Edge of Time - Part 1
  3 Keys To Attracting Leads, Clients and Sales to You Effortlessly
  7 Steps to Creating a Successful Small Business Marketing Plan
  Best of the Janes: Getting Back on Track

Article Tags: balance in business, female business owners, ideal entrepreneurial type, satisfaction in business, women entrepreneurs
Referred by: http://www.MichelePW.com



Related Forum Posts
Re: Gap Between Rich and Poor Widens - THX GT Bulmer for your view. What was on my mind are the S.S. statistics; that 95% of the population end up with only a S.S. check by the time they're/we're 65. That's pityful in comparison to some of todays teens earning millions. Type "teen millionaires" in a search engine. I do believe that most of us squander 99%-99.99% of our God-given 'talents.' God Bless all.
CEOs and Email - Slaves? - I wonder if the emails they are responding to are filtered thru their assistants first 'cos they seem to spend a lot of their off hours responding to them. True they are successful but I'm not sure I'd be willing to pay that price. I'd be interested to know what's the in the typical day planner of Entrepreneurs on the Forum. Entrepreneurs are a different breed than Paid Employees- so it would be interesting to view the contrast.
Re: What Do you Prefer More - Time or Money - Living the moment. I am living the moment since 4 years ago, after the docs found cancer. They removed it, of course, and since then I just do what i want. Jumping from an airplane was one thing, that was great. Now I want to fly to the moon. I need money for that.
Re: How does an entrepreneur stay energized? - Hi there, This subject is not only for entrepreneurs. Everybody can benefit from this, that is the reason why 'Healthy Living and Eating' is a multi billion Dollar business. Often I smile, because so much is written about it. So many different business are blooming and doing well. Whilst there is so much knowledge and opportunity to be healthy and well, the need is still growing. There is so much that could be said. The cheapest form of energy is gained by a good sleep.
Inspiration for Logos - When a Buddhist looks at a Tibetan flag one of the first thing that pops in their mind is admiration respect. After assimilating that they keep thinking and repression might come next. Living as part of a communist nation may bring lots of feelings. Chastity, prayer, humility all these virtues are all mixed. When you want a client to think of your Logo may this not be an example of what he thinks. Let its all be positive and with hope of something better coming.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Why Small Businesses Don't Survive

4 Steps To Hypnotize Your Business Prospects

Web Design in 30 Minutes - Can this be Right?

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.