Every individual is unique in its own way. While thinking about an entrepreneur we can classify them on the basis of major features which are also the skills required to become an entrepreneur.
The below list suggests some potential entrepreneurs of the world who come into the following categories. You will love to know about them and become a successful entrepreneur as well
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Based on Characteristics
While on the way to success every entrepreneur finds a different route but all these routes have something in common. It is reaching to the highest peak or doing best what they know.
Classifying entrepreneurs on the basis of their characteristics show what characteristics are really required in an entrepreneur. Also how highly successful entrepreneurs used one of these characteristics and became successful.
Innovators
These kinds of entrepreneurs are just like their characters. They are very ordinary while being in the crowd but their thinking stands out of the crowd. What you and I can not think, these people can think and go far behind that.
You must be thinking what is so special about them? It is the perspectives of a person that changes the view of the thoughts. How we think about things differently that matters and what matters more is how we use unique thinking.
One of the most common ways about Innovators is they change the way people do ordinary things. They come up with better ideas to do the same thing and people love those ideas. Hence they have come up with their own business idea.
Advantages of An Innovative Entrepreneur
- As they are giving something better, they naturally are followed by people and in return getting fame is the most common result.
- While innovators are doing something different, it means no competition and what can be better than getting a first-mover advantage.
- Innovative thinking always works with good quality and after that, a long term success is waiting.
Prodigies
Have you met with some of those students in your class who only read for half an hour but learns everything? These are some prodigies who are born with inner talent. They are even ahead of their teachers because of their god gifted qualities.
It may be possible that these qualities are not related to education, they can have different types of talents. Some of them are dancers, singers and they make a business out of their talent. These inborn talents are found rare and must be utilized carefully.
These types of people are rigid and they don’t have flexibility. Sometimes they even work alone and they don’t have team spirit. But even if they are working alone, they get great results
Advantages of Prodigies
- The results are outstanding and without any errors.
- They are working nonstop and passion is the common quality found in every prodigy
- They have an inner sense for business and they know how to make things work for them
- The results get long-lasting success
Hustlers
One of those people who have big dreams and believe in hard work. They work really hard for their dreams and finish when they achieve it. You must know that these kinds of people don’t wait for anything.
The most basic character of a Hustler is working effectively which means once they get what they have to do then the work will be done with utmost quality without any doubt.
The other character is the efficiency that makes Hustler working harder than any other competitor. If you are giving better results then success will naturally find your way. Also, hard workers don’t fear competitors.
These types of people are filled with various qualities and if they lack in some way they are wager to find it.
Advantages Of Hustlers
- They can work really well with people, especially networking is the best quality
- They are away from those things which distract their mind
- They are focused and goal-oriented individuals
- They know the value of risk and are not afraid to take them
Drone
Have you heard of those rigid entrepreneurs, who are ready to take losses, but changing the way of their working is no question. These types of entrepreneurs have a reputation in the market for their old strategies but changing with the world is most important for every business.
A Drone entrepreneur is not flexible with the world and modern culture so they are reluctant to it. They eventually get losses but it may be possible that the business ends.
These types of entrepreneurs are mostly found in the very old organizations and headed by some experienced people. They even get opportunities on their way but they don’t take them and work according to their own methods.
Advantages of a Drone Entrepreneur
- They don’t need any support to make decisions, they are self-sufficient.
- They are holding a reputable organization with fixed customers
- They don’t allow anyone to interfere in their work
Solopreneurs
Some of the individuals are totally dependable on their own. The major thing is trust and they don’t trust anyone. They have to handle every position in their organization according to them.
Sometimes it reduces the motivation among employees as they get interfered by their boss for every minute detail. But these type of entrepreneurs often avoid small mistakes that can create great problems.
New employees love this kind of attitude as they get to know the organization and they get help in every way. The Solopreneurs are working in days and nights and they are used to working. It is said that they love working.
Advantages of a Solopreneur
- They are prone to taking big opportunities as adventures and create big results out of them
- They love more work and can’t say no to any kind of work. More the work more they are in the spirit
- They have no personal life as their work-life is their personal life. They live for their work
- They don’t follow the regular schedule. They commonly start early and work late. They even work according to their unique schedule
- They have many skills as they are able to handle different positions at the same time
Imitators
Once an innovator comes in the market then come the imitators. It is the basic trend that is ever going since old days. It has not changed until now. You will find various kinds of examples in the market.
These kinds of business models are prone to success as they don’t have to get surveys or any tested trials as these are already done by the innovators. They work for creating options in society so they can get a good share of the market.
Imitators are somewhere trying to create a better business model from those available to the users. These models are always working efficiently and creates convenience for the users.
Advantages of Imitators
- They are creating competition in the market so that an innovator does not create a monopoly situation in the market.
- They get good results from already proven techniques. They majorly rely on creating a brand name more than the quality.
- They usually are realistic and more practical towards their approach.
Short Termers
These are often innovators and sometimes even imitators too. They don’t rely on long term money but sell their business too fast when it is already making money. This makes them money out of a great business model.
They create a business model that can be unique or a copied model but it is running and that gives its worth. They find good investors for their business and sell it for a good price as soon as they get the opportunity.
Their name suggests that their success lives for a shorter period and hence they are known as short-termers. They are more inclined toward money.
Advantages of Short Termers
- They can think out of the box but their last decision is always money-minded
- They work for a short time but take big exits which get then great money to find something new.
- They are always working for their communication and networking skills to get more and more finance.
Researchers
You may have known those people who really take a long time while making a decision. They don’t want to take a long time but actually they are weighing the pros and cons of a particular decision so that it doesn’t gets rippled.
They are thinking too far and that kind of decision always goes a long way. They will think even for the next step of their decision so that even if something gets wrong, they already have a solution.
You may think how do they think? The research really in detail and then work on those results. They don’t rely on others decisions and research. They prepare their own research and then follow it.
Advantages of a Researcher
- Their main aim while working is towards perfection which means they are more efficient than being effective
- They think towards every aspect for every situation which makes them a critical thinker
- They are one of those businesses who solves a problem and then builds a business out of their solution
Buyers
Some of those big investors come under this list. They have a particular knowledge of business and they are keen toward every new business model that can make money. They learn about new things and research about them.
They will know what is new in the market. They have a ton of money so that they can invest in the upcoming money-making businesses. They use this money to give opportunities to innovative businesses.
It can be said that they are the financiers of Innovators. They have that mind to identify a list of businesses that can earn money for them. They are guiding businesses so that these businesses can earn money for them.
Advantages of a Buyer
- These are financiers and hence they pull the business out of financial problems.
- They only work for unique and innovative businesses and they know how to find them
- They will guide to those business and gets the best out of them
- They are always ready to learn new things about every new business
Money Magnets
Sometimes a business can even just be started with money and no knowledge. If you have a ton of money than use it to make more rather than wasting on creating more liabilities for yourself. What are some money magnet businesses?
Individuals belonging to a rich family often have money-minded brains and they start with what they have which is their money. They invest in good places or hire someone to work for them and earn money out of their money.
This type of business can be short-lived if they don’t get enough know-how to run the business. They can even be kicked out if they don’t know enough about their business.
Advantages of Money Magnets
- They have a rich family to support on their back even if they fall out if their business
- They can hire a very good professional team of workers to work for their business
- They get public relations through their family. As high profiled families have a good bundle network to start with
Fabian
These are known as a very rigid researcher. These are taking every step of the business by doubting their decision and experimenting with every thought. They have a lack of self-confidence in their decisions and their implementation.
Sometimes this kind of attitude proves to be fruitful in the market as they can avoid troubles but a vary detailed research can lead to taking more time. The more time you take the less opportunity you get.
It may happen that opportunity falls out of your hand and someone else gets it. You need to be quick while working for an innovation.
Advantages of a Fabian
- They get sure shot results and they are never in doubt about the method they are going to apply
- They will never be questioned about anything because their work is of the utmost quality
- They have the right to make decisions as they are always making right
- They are eventually followed by people due to their good work
Conclusion
We hope that you have learned the different types of entrepreneurs generally found in the business world. If you have one of these qualities then we would recommend mastering your abilities.
It is not important to have abundant skills but if you have one good skill then you can fo wonders. You will get a good results even with great skill.