Types of entrepreneurs + examples

There are different  types of entrepreneurs , because independent businesses are today. However, things are not as easy as we would like. Despite that, of course it’s worth venturing out and getting started. For this, it is important to be clear about the types of entrepreneurship and the types of entrepreneurs that exist. Here you will meet them and you will be able to detect which of them you are or want to be.  First we are going to address the types of entrepreneurship and then the types of entrepreneurs and some examples so that the subject is more than clear.

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What is an entrepreneur?

An entrepreneurial person is one capable of taking risks and assuming them, with the aim of building a company or shaping a project to generate income.  The main goal of any entrepreneur is to have something of their own that helps them obtain not only economic benefits, but also personal and emotional ones. To do this, they have to be innovative and have leadership .

Main characteristics of entrepreneurs

Entrepreneurs are not born being strategists or having everything necessary to detect opportunities. They must go on training and gaining experience to become true entrepreneurs. Some of the characteristics of entrepreneurs are the following.

1. They are highly motivated

Business opportunities are like life for entrepreneurs, but when that desire and spirit fade (it’s normal), they are able to continue with their projects because of the discipline they manage to develop. These are people willing to dedicate a lot of time and the necessary resources to bring their project to fruition, always knowing that it can take several months to get off the ground.

2. They are creative

Creativity cannot be absent in entrepreneurial people, since it is what allows them to respond to the needs of society in a unique and different way.  Only from this characteristic can they establish new products that are superior to those that already exist in the market, having opportunities to position them. 

3. They are moved by passion

Another of the great characteristics of entrepreneurs is passion, since the road is usually hard and there are always challenges before and during the journey, so they must have the ability to motivate themselves through passion for their projects. Entrepreneurs are usually moved by a strong desire to be different from the rest and to be able to provide an innovative product that offers solutions that are much more focused on their target audience.

4. They are not afraid of risk

Entrepreneurship always carries risks, so people who want to start a project must be willing to run them, accept them and always work to solve them.  When you undertake, uncertainty is a constant factor and you have to be aware of it and see everything as an opportunity to achieve your goals, without fear. 

5. They are self-confident people

Without this feature, it is almost impossible for a person to start a project from scratch and achieve success. Regardless of the type of entrepreneur they are, they must have confidence in themselves and in the product they want to launch. Only then will they be able to stand firm despite the problems that may arise and turn them around to achieve their goals.

What are the types of entrepreneurship?

Entrepreneurship, in general, is the process by which a company is planned, developed and launched, but there are different types of entrepreneurship.  People have diverse aspirations and visions about the business they want to create and factors such as personality, characteristics and abilities come into play in the development, which determines the type of venture in question. Each type of entrepreneur, although they must face similar challenges, definitely addresses them differently, for this reason, there is a classification of entrepreneurs and entrepreneurship.

5 types of entrepreneurship

The classifications vary, but I am going to address eight types of entrepreneurship that I consider to be the most important. Let’s go to them.

1. Small Business Entrepreneurship

Much of the business that exists today is small business. These are companies that simply seek to generate income to support their family and be able to have a modest lifestyle.  The objective is not to obtain profits on a large scale, but to bet on a sustainable business with the help of local personnel. For example, shops, hairdressers, small boutiques, among others.

2. Entrepreneurship of large companies

This type of entrepreneurship is sought by much more experienced people who know how to seek and sustain innovation at a high level. Large companies focus on needs with high demand and that are important to consumers. Some such companies are Google, Microsoft, Apple and Disney.

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3. Scalable startup business

When you bet on a scalable start-up venture, it is because you have the belief that the company in question has strong potential to change the world at some point.  Generally, these projects receive financing from venture capitalists and have specialized personnel. The focus of these companies is to detect opportunities and create solutions.  Among the most popular scalable startups are Uber and Facebook.

4. Social entrepreneurship

Here, more than an economic benefit, it seeks to solve social problems through products and services. The main objective is to make the world a much better space.  You do not work to earn a large income or fill bank accounts, but to build non-profit organizations or a company that works for the social good to improve the quality of life of a community.

5. Technological entrepreneurship

As its name suggests, this type of entrepreneurship is related to science and technology. It is about launching new products with a great impact within the market.  Due to the above, they require strong capital, which they obtain through government or private entities, which are in charge of providing everything necessary for the product to be launched on the market as quickly as possible.