Considering I talk a lot about Micro Entrepreneurs, you probably think I have an easy, one sentence definition for it: Honestly, I don’t and here’s why:
When you define anything you place it into a neat little box. I don’t like neat boxes, especially for something like Micro Entrepreneurs, a subject which I am obviously passionate about. Common definitions for the term often use words like size, revenue and turnover which might be ‘right’ on one level, but only fail to really capture not only what this global movement of self monetization is all about, but just how important it is. Instead of trying to put Micro Entrepreneurs in a box, we should be looking at what set’s them apart.
The two factors that stand out the most for me is a desire for greater control over their lives and the need for personal income generation. As people start monetizing their skills, experiences and resources in non traditional ways for themselves and not for a corporate employer, they’ve begun their journey of Micro Entrepreneurship. After that it becomes very human and pleasantly complicated as they start redefining for themselves terms which used to hold a single meaning in a 9-to-5 world, but now mean for each one of them something unique. There are those who have less income and sell their skills to generate some additional pocket money. Others leave well paying jobs, sometimes making a little less money but gaining more free time, while others earn more than they ever did stuck in an office. The difference between all these simple examples and the million possible others is how they define the word ‘value’, be it in terms of time, passion, income or something else entirely. Let us also not forget that their definition will be constantly changing as they continue on the entrepreneurial road, growing in experience and skill. This is also the reason Micro Entrepreneurship crosses traditional employment barriers like age, location and education. From those that are retired with a lifetime of experience to teenagers with fantastic art skills, everyone has an equal opportunity to self monetize. As I spoke about last time, the Internet Revolution has created easy access to a global economy, where talent and experience matter as much if not more so than a formal degree.
With global access, you could say there is no such thing as local entrepreneurship when connecting with consumers and markets are just a click away, something truly inconceivable five or even ten years ago. Not only could you call these micro entrepreneurs ‘hyper connected’, the services and products they offer are flexible, authentic and perhaps most desirable of all, often truly unique. You only have to look at the growing popularity of sites like Etsy that see a rising demand by consumers for goods that are niche and personalized. This of course equally applies to pure services as well. Why bother purchasing template software or contracting an expensive corporate voice over service when you can employ an equally talented entrepreneur for a personalized service that is not only cheaper and easier to access, but is more intimate and tailored to exactly what you need.
I think definitions are a problem for those who just don’t understand where to put this new self monetization model in the neatly stacked boxes that define for them the traditional economy. A growing tide of entrepreneurs driven by their own meanings for value and who refuse to engage with a system that wants to control their work hours and pay check, might actually frighten many. The reality is that the multitude of self-monetizors is only going to get bigger, and with the rise of international platforms supporting people in their quest to gain economic and personal independence, everyone needs to be little less concerned with trying to define Micro Entrepreneurship and more focused on engaging with it.
At the end of the day even the term ‘Micro Entrepreneurs’ needs to be challenged when you realize there’s nothing ‘micro’ or ‘small’ about them. It really does need a new name and I would love to see your suggestions in the comments!