It may not be a term that you have heard before but it would be a great new word to add into your “dictionary” as it could be your ticket to financial freedom and escaping the 9-5 lifestyle. To put it simply it means that you are both an employee, but also an entrepreneur … concurrently.

In these tough economic times anyone can lose their job at any time and be left desperately hunting for a new one, with no guarantees that you will get it. If however you were already running a successful business while you are on your current job, if the worst happens (ie. retrenched), you will be all set to stay financially secure and successful. Even if you aren’t likely to leave your job, or you do not want to – it is still worth setting up some kind of internet business, as extra income or if you change your mind one day and do want to leave your full time job.

One great way to launch your own business on the side of your current job is to launch an internet business. These are great because they are low cost to set up and have low overheads – it can be started for as little as the cost of a domain name and web hosting. There are hundreds of ways to make money from an internet business – from launching a blog on something you are interested in to creating affiliate pay per click campaigns, and everything in between. The best part about creating an internet business however is that once it is set up your time invested is much lower, you can get by on a 4 hour workweek once everything is up and running – allowing you to do this alongside your current work.

With the low work time and ease of setup, everyone should become an entreployee with an internet business. To be most successful with this you need to adopt an entrepreneurial mindset – even while at work, always be on the lookout for business opportunities, be it in your home life or your work life. Even if you do not see your internet business replacing your full time job you should still adopt the mindset that it will, because then you will focus on it and then it might just take off.

Adapting the mindset of an entrepoloyee will help with your full time job too, you may see business opportunities that others missed, then when you help improve the business you may get that promotion you have been hoping for or that pay rise.

When you are first starting on your entreployee journey, and you decide to make an internet based business – stay away from anything too complicated or too time consuming. Do not try to create the next Facebook or Twitter or another ridiculous startup. Keep it simple – build a site, get traffic for that site, monetize that site and then you are much more likely to be successful and much more likely to be successful in your current job too.

Start today, adopt the entreployee mindset and then in a few months you might just have the 4 hour workweek that you have been dreaming of.