Why The Economy is Great for Innerpreneurs

Innerpreneur is a term that only cropped up within the last year or two but it defines a lot of people who have been doing their own work for years. The innerpreneur is someone who is basically an entrepreneur but who is working for the sole purpose of personal growth and development rather than for the purpose of trying to grow a specific company. The differences are subtle but they can be very important especially when it comes to the situation that people starting a business today are facing as a result of the current economy. Many would say that it’s a really bad time to start a new business and there is definitely support for that belief but those people who are true innerpreneurs will see that there is no better time than the present to begin pursuing the work that you truly care about.

What is an Innerpreneur?

Innerpreneur is a term that was coined about a year ago by a man named Ron Rentel. The term was picked up by the media and is know a familiar term to most people working in business and marketing. An innerpreneur is defined as someone who chooses to start a new business with three specific reasons motivating that person. Those three reasons are that they have seen an opportunity which they believe is worthy of being realized, that they believe that starting a business will allow them personal growth and that they believe that this business will allow them to create social change.

Innerpreneur vs. Entrepreneur

There are many similarities between the innerpreneur and the entrepreneur. These are both people who launch their own businesses, taking a chance on a dream because they believe in the value of working for themselves. However, the innerpreneur is distinguished from the entrepreneur because of the emphasis that he or she places on the value of making a difference in the world through his or her work. Entrepreneurs may or may not care about this but are basically driven by a desire to make money while working for themselves. Innerpreneurs are more likely to be driven by an inner need for personal development, creative work and the fulfillment of starting a business that helps others in society.

Why The Recession is Great for Innerpreneurs

Many people are saying that it’s a terrible time to start a business. In a sense, that’s true. New businesses often fail and that’s more likely to be the case now because of the bad economy than it may have been five or ten years ago. However, there are some good things about the bad economy that make it a great time for innerpreneurs to go ahead and start their businesses now in spite of this risk. Some of the reasons to consider include:

• People have the time. Like it or not, we are losing our jobs. When you lose your job, you can stew in the misery and disappointment and fear of unemployment or you can look for the silver lining which is that unemployment leaves you more free time which you can divert into creating a business that may not only make you money but may also make you happier.

• Our values are shifting. The change in the economy has caused a lot of people to realize that they value many things more than merely money. As we recognize this, we may be more driven to do work that creates true social change and personal growth which is what innerpreneurship is all about.

• Change is in the air. This economy is causing a lot of change in society and it’s causing us to be aware of changes that were already taking place. The innerpreneur can work to move that change in a positive direction. The time is ripe for this kind of movement!

Qualities of an Innerpreneur that are Great Right Now

There are several characteristics of the innerpreneur that make it possible for him or her to see that it is a good time to start a business. If you have these qualities then you may be a good innerpreneur. These qualities include:

• Really seeing the world from a unique perspective. Innerpreneurs are creative and optimistic people which is something that the world really needs right now.

• Willingness to take risks. This is a trait that you have to have to even think about starting any kind of business right now.

• Passion for what you believe in. You need to be able to be passionate enough to get others involved during a time when they may not be as inclined to help as they would have in the past.

• Eye for opportunity. You can see the opportunities that exist within the current economy and you can make the most of those opportunities as an innerpreneur.

What to Do if you Want to be an Innerpreneur

If all of this is starting to ring a bell with you then it may be time to start calling yourself an innerpreneur and making a new business for yourself in spite of the risks of doing so at this time. The first thing that you’ll want to do is to read up on innerpreneurs. Learn what they’re all about and decide if you really are one. Definitely read the book Karma Queens, Geek Gods and Innerprenuers which is the Renter book that initially defined the innerpreneur but also read supporting texts and online information.

If you do indeed find that you have a bit of the innerpreneur in you then you can move forward with starting a business. First, identify an opportunity that really resonates with you. Second, make sure that this opportunity is online with your goals for social change and your desire for personal growth. Third, create a strategic plan for getting others excited about this opportunity. Then proceed as normal with launching a new business. Take smart risks, be creativity and stick to your passion for a unique way of living.

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Comments 11 comments

mr williams profile image

mr williams 6 years ago from Norfolk, Virginia

Interesting hub. Now I have a word for the type of marketer I am, an innerpreneur. Thank you :)


Just About It profile image

Just About It 6 years ago from southern CA

Interesting hub. Certainly describes my husband at the moment.


nccaver profile image

nccaver 6 years ago

Now this is what I call thinking outside of the "triangle". I am an entrepreneur that has partnered with a innerpreneurial type opportunity. I wonder if that makes me a innerpreneur by default? Thanks for keeping us updated on the latest industry-speak!


Toronto12 profile image

Toronto12 6 years ago from Toronto

I think that all entrepreneurs are innerpreneurs. It all comes down to passion, and in order to be a successful entrepreneur, you're required to be an innerpreneur for a few years before you're successful. Because those first few years, all we're going on is our passion for something - not profits.


Kay Hebbourn 7 years ago

I have never heard of this before, but I have been one for years! I love your work and thank you for giving me some lovely thoughts and ideas. I am personally being called to trust, trust and trust even more and am finding new strengths and qualities. I think it is an exciting time for those of us who have chosen this path. thanks again, lots to think about. Kay


Shot 7 years ago

I've never come across this term before but i'd like to think my new business fits the bill. I was motivated by the desire to take charge my own future both financially and personally but the business model i have adopted aims to help charities, NGOs and third sector organisations by donating the resources and expertise i use in my professional life. Therefore, it's a case of two or even three birds with one stone - opportunity knocked and i decided to start a business that i believe will not only allow me to support myself financially, but allow me to grow and develop as a person whilst contributing something worthwhile to society.


Silver Freak profile image

Silver Freak 7 years ago from The state of confusion

Oh yeah, am I ever an innerpreneur. My jewelry, for me, is all about making things that satify an inner vision. I use recycled silver, I use conflict free gems and stones and shells, and i try to make the world just a bit better by helping people express themselves in a very visual, tangible way. My bottle jewelry has been used, a LOT, by aromatherapy advocates and by others as memento mori. That satisfies my need to make something beautiful that's also useful.

Love this article! And thanks for the perfect word to describe me. I owe ya one.


Peggy W profile image

Peggy W 7 years ago from Houston, Texas

Innerpreneur......a new word for me but certainly pertains to what I have found as a mission. People should definitely find a niche in which they feel their efforts and time is well spent especially in this economy. Good hub.


Aya Katz profile image

Aya Katz 7 years ago from The Ozarks

Kathryn, thank you for introducing me to this term. I suppose, in a way, I am an innerpreneur. I'm doing what I have always wanted to do, despite the fact that it does not bring in an income. But in order to do this, I have a retirement nest egg, which is being threatened by the current economy. Project Bow is entirely dependent on my being able to stay home and take care of Bow full time. If I were forced to go back to work, we would be wiped out.


Feline Prophet profile image

Feline Prophet 7 years ago from India

How language evolves to keep up with changing situations! Thanks for introducing me to the word 'innerpreneur' and explaining how it works.


C.S.Alexis profile image

C.S.Alexis 7 years ago from NW Indiana

Wow Kathryn,

I never heard the term but sounds like I fit the bill as an innerpreneur. This economy has not hurt me yet. In fact I am too busy and can not get all the things I have to do done. I am pushing forward with great success but it is on a very personal level. My goal is not a large income but rather to do what pleases my inner child. Thanks for sharing this interesting hub.

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