Stoke is a coworking space and entrepreneur resource center in Denton, Texas. We work to support and provide resources for the community of Dentonites and North Texans pursuing their passion via small business or self-employment, in the beginning stages of their startup, or offering their expertise and creations as artists and musicians. For educational and networking event notifications and Stoke news, sign up for our monthly newsletter!
In this blog, we explore the question of “what is an entrepreneur?”, detail common traits and behaviors of entrepreneurs and “entrepreneurial DNA,” and share information on local entrepreneurs and startups in Denton.
Entrepreneurship is an undertaking in which people create or innovate a product or service to solve a problem that they’ve discovered. Entrepreneurs’ entities can be considered small businesses or startups. Small business owners contribute mostly to the community that they’re in and grow slowly and steadily. Founders/cofounders of startups typically aim for high-growth quickly and to produce a scaleable, replicable business model.
You’ve probably heard the word “entrepreneur” in the context of a figure in a financial success story or a person working on a struggling startup. The typical entrepreneur story usually goes as follows (with significantly more detail and time in between each step):
A person or several people think of an idea to solve a problem or mitigate a pain point with a product or service after experiencing said issue
They fund the development of this product or service by pitching to investors or bootstrapping the project (bootstrapping: using existing resources)
They either fail fast and pivot or create and sell their product and service successfully
Whichever way the story goes, an entrepreneur is someone who
Generates innovative ideas for goods, services, or even things such as business procedures
Starts and runs a business, usually filling a gap or meeting a need in the community, or beyond, and working for oneself
Variations of Entrepreneur
Different versions of the term entrepreneur emphasize what each does.
Entrepreneurs often work with cofounders, but even with a business partner, they take on certain financial risks. A solopreneur is an entrepreneur who does not work with a cofounder, rather, he or she works alone.
Intrapreneurs are atypical in that they may already be part of a corporation or company. They work to innovate and improve product development or services like marketing within the company.
Artist Entrepreneur or “Artpreneur”
Entrepreneurs are not limited to app developers and those solely in tech-related industries, but also include creative types, such as painters, sculptors, and makers. The terms “artist entrepreneur” and “artpreneur” refer to individuals who are artists or musicians building creatively and financially fulfilling businesses.
Common Traits & Qualities of an Entrepreneur
People who have entrepreneurial spirit usually share a few personality traits and take similar courses of action. Our list includes being resourceful, flexible, resilient, and action-oriented. Along with shared qualities and behaviors, some experts would say that people usually fall into one of four entrepreneur types, or manifest as an overlap of a couple of the entrepreneur types .
Traits that geniuses, masters, and entrepreneurs have in common, a list compiled by emotional intelligence writer, Brianna Wiest, contributor to Forbes and Thought Catalog:
Highly intelligent in one niche
“Big picture” thinking tendencies
Embrace the power of fear
Build strong networks
Know what they want and take decisive action
Maintain a work-life balance
Joe Abraham, founder of BOSI Global, developed the concept of four types of entrepreneurs, builders, opportunists, specialists, and innovators, based on a study of over 1,000 entrepreneurs. Abraham’s book, “Entrepreneurial DNA,” suggests that the four different types of entrepreneurs leverage unique strengths, weaknesses and tendencies that are typical of each.
Builders have a drive to create a highly scalable business quickly and are master recruiters of talent, investors, and customers, measuring success by infrastructure.
Opportunists enjoy promoting, marketing, and selling, and can be considered impulsive decision makers when it comes to making income.
Specialists focus on generating new business through referrals and networking and are analytical and risk-averse.
Innovators like to invent, design, and tinker. Their measures of success are based on the impact of their product or service on the world.
You can take the free assessment to determine your entrepreneurial DNA here: Entrepreneur DNA assessment
Entrepreneurs and Startups in Denton
Read about some of the entrepreneurs and startups in Denton from Stoke’s archives (linked):
Marshall Culpepper - Kubos: satellite software startup
Kyle Taylor - TechMill: non-profit organization of startup and tech builders in Denton, educating, supporting, and building density of talent in the community
Brandy Thomas & David Brunow - Shepherd Dog: company that builds software tools for small businesses, startups, and non-profits
Madison McClure, Sky McClure, and Keaton George - Cortex Therapy: Cortex helps individuals with communication, cognition, and swallowing disorders like those who suffer from stroke, traumatic brain injuries, dementia, and alzheimer's by providing an all-inclusive therapy solution
Stoke offers professional workspace, conference rooms, event space, and all of the amenities that help you to work smarter. In addition to a community of startups, entrepreneurs, and developers, Stoke is home to freelancers, remote workers, and other professionals. Not only does Stoke have resources for members, but also hosts and presents networking and education events that we invite the general public to attend. We’re working to cultivate the entrepreneurial ecosystem in Denton and beyond. Our members and visitors come from Argyle, Ponder, Corinth, Highland Village, Lewisville and other nearby cities for the convenience (and avoidance of a long drive on I35) and the productive atmosphere that Stoke provides. If you want to check out the modern, renovated workspace that Stoke has become (formerly a warehouse), book a tour and bring your questions and needs!