Different types of entrepreneurs (there’s 3)
Which one are you?
When it comes to business minds, it’s hard to label someone into a box or category, because just like we are all individuals, and different in our own ways, entrepreneurs are just the same, with quirks which make them stand out from the rest; I guess that’s what makes them so successful. Having said that, many can be loosely labelled and categorised, and whilst there are countless more than we will mention here, there are three main types which entrepreneurs generally fall into.
If you’re a business mogul, you might be interested to learn about the different types of entrepreneurs out there, and wondering which category you loosely fall into.
Some call it a control freak, some call it wanting to handle every aspect yourself, but basically a solo entrepreneur is a party of one, handling every facet of the business personally. This is a great idea for a small business wanting to cut costs on employee wage bills, and it’s easy to get expert advice and skills on areas you’re not so familiar with yourself by hiring freelancers to cover gaps; this will almost always be cheaper than paying a regular wage. As businesses grow, solo entrepreneurs often flourish into a more people-focused party, but as a start-up, and perhaps even mid-section of a business, this is a good option.
Out of the many different types of entrepreneurs out there, a serial entrepreneur is the one who builds up a business, before moving on to start another. Not to be described as fickle, a serial entrepreneur treats a business as a project, even as far as their baby, by building it up from grass roots, and taking it to the max, as far as it can possibly go in terms of performance, or simply as far as the person involved feels they can take it. After this point, the business is either handed over to another individual to continue, or disbanded completely before the entrepreneur starts the whole process again with a different name, product or service.
The true do-gooders in terms of the business world, social entrepreneurs are amongst the list of types of entrepreneurs and rapidly gaining popularity. These are individuals who strive to make a difference to the world through a gap in the market, product, or service, which will enhance the lives of the general public, but are self-sustaining because they make a profit to fund the business and pay wages. These are distinctly different from a charity, although the ethos are very similar.
These are the three main types of entrepreneurs on the map, and although there are countless others, if you’re looking at these as a whole, which would you say you fall into?