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Types of entrepreneurs; learn about its strengths and weaknesses
If you decided to start a business more than 5 years ago and it’s still running, chances are you’re a good entrepreneur, but do you know what kind of entrepreneur you are? If you want to find out, read this article about the 10 types of entrepreneurs out there and… put your mind at rest!
– The humble entrepreneur
He is always a hard worker, he takes advantage of the hours of work and does what is necessary to ensure that he and his family are well cared for. The baker, the fishmonger, the butcher and the shoemaker are good examples of humble entrepreneurs. They work long hours and do not usually have as many benefits as other entrepreneurs. But it is not always like this, and often the work pays off and they can end up having big companies despite their humble origins. An example could be Amancio Ortega in his early days, they say he stopped studying to work in a shirt shop, until he decided to open the Goa shop where he sold boatiné robes. He currently has a fortune of 47.6 billion according to Forbes.
– The entrepreneur who is a gentleman
Within this type of entrepreneur we can break it down into two types, first those who have inherited a company with great profits and secondly, children whose parents have set up a small business. They are wealthy families who have sought a place for their children to work in the areas they love or to continue to maintain their empire. They can be as hardworking as any of the types we show here, many have been trained with university studies and are prepared to inherit the family empire and keep it afloat. Furthermore, there are cases in which a company starts to go wrong and the children take over the reins by improving and keeping those companies afloat. An example could be Adriana, heiress of Adolfo Domínguez, Adriana has begun to give a new direction to her father’s company to prevent the brand from losing more money.
– The entrepreneur by necessity
It can be a person who has lost his or her job, who cannot be hired because of his or her age and needs income. Many of them would prefer to be salaried, but due to life circumstances they have been forced to make a living by investing their money in a small business.He or she is a type of entrepreneur with a lot of risk, because even though many people succeed, others fail miserably, becoming even more ruined.
– The opportunistic entrepreneur
He is continually analyzing the market, observing what needs are not covered. When he discovers the opportunity and sees a good business, he gets down to work to become part of the sector, learns everything he can and creates a company. There are those who, instead of seeing one opportunity, can see at least 10, so they are born entrepreneurs. Here you have to be especially careful, you can choose a bad time and arrive when there is too much competition, if you don’t have a very distinctive product you can end up going bankrupt… Remember the stores of electronic cigarettes in your city? do you see them now? If you are this type of entrepreneur and you see that the business is starting to go bad, with no possibility of going back, sell it before you start to have big debts.
– Entrepreneur by sheer chance
There are those who say that chance in entrepreneurship does not exist and if your company has succeeded it is because you have known that it would work from the beginning. On the other hand, people who have inherited a business by chance may have little involvement in the business, this lack of involvement can lead to business failure. Imagine if the son of a mechanic inherited his business, maybe he wouldn’t pay any attention and the business would end up closing. However, there is also the possibility that a young boy who has worked all his life in the workshop will buy the company because no one in his family wants to take over, finally the workshop will be maintained. Both could be considered cases of pure chance.
– The passionate entrepreneur
He has a great idea, he is passionate about it, he is happy working and has decided to set up a company to make his idea profitable. He works all the time and really enjoys doing what he does. The main problem within these types of businesses is when your passion is something that doesn’t thrill too many people or that thrills so many people that you no longer have a place in the market. You have to be very intelligent and know how to do things well to be able to go far. An example here could be the Angry Birds team, a game I’m sure you all know. In 2003, young people from Finland decided to create game after game until one of them succeeded, when they had the idea of reaching a wider audience, that’s when they really succeeded. This game, like Candy Crash among others, is one of the very few that are suitable for every type of person.
– The investor who is an entrepreneur
This entrepreneur usually has good money, he may have several companies or he may be a salaried worker, but his idea is to reinvest his money to make it grow. They may play on the stock exchange and otherwise invest their money in companies to make a profit, may have holdings or complete companies and often sell when they see a good business or difficulties. They don’t feel tied to companies, but to money. To be an entrepreneur investor you need to be a wealthy person and be smart, or at least have good advisors. A good example could be the current president of the United States, Donald Trump.
– The tyrannical entrepreneur
His goal is money and he doesn’t mind walking all over anyone to get it. They often have influence and are able to convince others of their ideas. They are born leaders, with great prestige, but sometimes they can misuse their power. Other types of entrepreneurs can become tyrants for a while or forever, when the company is growing there are many responsibilities that require greater responsibility, not knowing how to delegate can lead you to be a real tyrant. Not giving in because “you are the one who is investing” may not always be a good idea. A good example could be Montgomery Burns.
– The social entrepreneur
It is a type of entrepreneur whose purpose is not money, but to help other people. They may not sell any particular product, but fight to promote rights or improve conditions for women, children, refugees etc. A clear example is Viviana Waisam, Viviana is known for defending women’s rights, and has a non-profit organization that promotes social change for women and girls. The main problem of this type of entrepreneur is that sometimes they forget that they need money to maintain their cause, and not everyone can fulfill their dreams of solidarity.
– The technological entrepreneur
If you’re wondering who the wealthiest person is, at 89 billion, Bill Gates has been leading the ranking of the richest for 24 consecutive years. Among the top five are Bezos, founder of Amazon with 81,500 and Mark Zuckerberg with 78,000. As you can see, technology is amassing huge fortunes. They are usually people who could be part of other groups, humble families, passionate about what they do, etc. The three of them have now come together to promote clean energy. But not all technology entrepreneurs end up making fortunes, software is more fashionable now than before and many invest money in different ideas. If you want to start in this sector carefully, study the competition, develop your idea and you better know some code to succeed, or have a good partner.
So this is it. This is our article on the different types of entrepreneurs. And now that you already know 10 types of entrepreneurs, let us introduce you to our company Artica ST, which is made up of a technological entrepreneur and among his new ideas is eHorus, a remote management software, go to our website and discover all we can do for you.