Starting a business is only one form of entrepreneurship. Using a different form, someone considering starting an organization may be able to directly focus on a specific problem or situation in which he or she has an interest.
The forms are intra-preneurship, social-preneurship, extra-preneurship and harvest-preneurship.
- Intra-preneurship is the process of developing an organizational mindset to pursue opportunities for improvement and innovation within the company. Intra-preneurs pursue such ideas as continuous improvement, higher productivity, quality initiatives and new product development.
- Social-preneurship is distinguished from other forms by its concentration on making the world a better place, as opposed to the profit motive. Socia-preneurs pursue issues such as educational initiatives, special interest groups focused on solving local or regional problems, such as the opioid epidemic or homelessness, among many others. The objective is solving problems, not making money. A social emphasis is quite likely to enlist the interest and support of people young and older who want to make a difference.
- Extra-preneurshipis best identified with the “gig” economy by which individuals seek temporary opportunities, such as providing IT or other services to companies on a project or part-time basis. This process is also called contracting, as opposed to full-time employment. It provides the would-be entrepreneur with an opportunity to work in several different fields, gain new experience and ultimately form an organization to explore and exploit market opportunities for profit.
- Harvest-preneurship is focused on building a company for the purpose of selling it and moving on to something else. The term “serial entrepreneur” is often used to describe this mindset.