An entrepreneurial mindset isn’t just about starting a business—it’s a superpower that helps you spot opportunities, turn setbacks into comebacks, and succeed no matter what life throws your way. It can boost your academic game, it’s key to launching innovative ideas, and your future employer will love it.
At U-M, you can become a Michigan EntrepreneurTM (see our rationale below) through ENTR courses offered by the CFE. But once you’ve got it, the real question is: What kind of entrepreneur are you?
To figure that out, you need to know the different types of entrepreneurship and what sets them apart. The four main paths are:
Small Business Your neighborhood coffee shop, boutique, or tech repair spot.
Scalable Startups Think big! These are high-growth ventures aiming to be the next unicorn.
Intrapreneurship Innovating within a big company to create new products and shake things up from the inside.
Social Entrepreneurship Using business as a force for good, tackling global challenges like sustainability and social justice.
Which one sounds like you? Let’s dive in and find out!
1. Small Business Entrepreneurship – Build Your Own Path
Dream of owning a coffee shop, boutique, or tech repair service? Small business entrepreneurship is all about creating something sustainable, serving your community, and being your own boss.
Unlike high-growth startups, small businesses focus on steady income, strong customer relationships, and local impact. Success takes passion, resilience, and business know-how, from managing finances to marketing your brand.
At U-M, you can build these skills through CFE’s ENTR courses, student-run ventures, and pitch competitions.
2. Scalable Startups – Dream Big, Build Bigger
It all starts in places like an attic, a garage, your dorm room, or even a study nook on campus—just an idea being tossed around with your friends. But here’s the magic: those small ideas can snowball, grabbing the attention of investors who help them grow and scale up into something huge! Your next big startup could be born in the most unexpected place! Scalable startups are all about rapid growth, disrupting industries, and going global. These ventures aim to solve big problems with innovative solutions and attract investors to fuel their expansion.
Success in this space requires a bold vision, venture capital, a strong team, and the ability to adapt and scale quickly.
Students can learn to turn their ideas into high-growth ventures through CFE’s ENTR courses, Fuel, Perot Jain TechLab, Entrepreneurial Leadership Program, Mpowered, and Desai Accelerator.
3. Intrapreneurship – Innovating from Within
Want to drive change without starting your own business? Intrapreneurship lets you be entrepreneurial inside a big company. Instead of launching your own venture, you create new products, improve processes, and bring fresh ideas to life—all while using the company’s resources.
Benefits include creative freedom, career growth, and access to funding. At U-M, you can develop these skills through ENTR courses, internships, and innovation labs, helping you make an impact from the inside out.
4. Social Entrepreneurship – Business for a Better World
If you’re passionate about making a difference, social entrepreneurship lets you use business to tackle global challenges like sustainability, healthcare, and social justice. Social entrepreneurs focus on positive impact rather than just profit, creating innovative solutions to problems traditional businesses can’t solve.
You can learn how to build and scale socially responsible ventures at U-M through ENTR courses, Entrepreneurial Leadership Program, Perot Jain TechLab , the Michigan Social Venture Fund, and the Social Entrepreneurship Forum.
No matter which path you choose, developing an entrepreneurial mindset is your first step toward making a real impact. Whether you’re building a small business, launching a high-growth startup, innovating from within a company, or solving global problems through social entrepreneurship, the skills you gain will set you up for success. At U-M, you have the resources, courses, and opportunities to explore each path and find the one that aligns with your passions and goals. Take a leap and let the CFE help turn your ideas into action and start shaping the future today!
Other helpful U-M entrepreneurial links:
The Graduate Certificate in Innovation & Entrepreneurship
U-M Entrepreneurship & Innovation Ecosystem Hub
