In the business universe there are certain qualities that most entrepreneurs and businessmen possess. But there are also characteristics that can define certain groups depending on the line of business or according to the specific skills and activities of each person. In this article we are going to address certain relevant points about different types of entrepreneurs so you can identify yourself, and we will give you some tips to enhance your skills according to your profile.
Characteristics of entrepreneurs
In Mexico, entrepreneurs contribute close to and thanks to them 98.8% of the productive units exist, which represents an interesting economic sector that continues to grow despite the recent economic and social difficulties due to Covid.
Some in our country according to are the following:
- 61% are men.
- 35% are between 26 and 35 years old.
- 85% have a digital presence.
- 57% make online sales.
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What is an entrepreneur?
By definition, an entrepreneur is a person who is willing to take risks and generate new ideas and innovations. In addition, he manages to create opportunities where not everyone sees them and in the business world, he transforms those ideas into profitable businesses.
At this time, digital entrepreneurs have taken center stage in the online world, not only creating businesses on the Internet but also migrating their ventures to the online world to stay current.
Qualities of successful entrepreneurs
- They pay attention to their surroundings
- They think long term
- They are not afraid of failure
- They always think of the customer
In addition to adapting to change and a business idea, being a successful entrepreneur requires some essential characteristics that can be developed throughout the entrepreneurial process or may already be specific to each person.
Here we explain four of the most important qualities that Jeff Bezos, founder of Amazon, identifies as important to be a successful entrepreneur.
They pay attention to their surroundings
Opportunities are everywhere but according to Bezos you must learn to distinguish them and launch yourself for them. Being aware of the market and the consumer is a habit that successful entrepreneurs acquire as a quality.
They think long term
To run a successful business, Bezos advises taking a long-term view of recovery and not focusing on immediate gratification. This includes planning but also the possibility of making changes along the way, always aiming at long-term goals.
They are not afraid of failure
Amazon has lost millions of dollars in projects such as Amazon Destinations, a hotel reservation page, Amazon Web Pay or the Firephone. All this has taught Amazon lessons and beyond seeing it as a failure, Bezos sees it as an opportunity to learn.
They always think of the customer
An entrepreneur must always find a way to focus their services on the client. Amazon gives us plenty of lessons on that with its happiness guarantee.
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How many types of entrepreneurs are there?
We can make categories of types of entrepreneurs based on the business style they undertakein their seniority, in the business model and in the steps they decide to follow to make their idea a reality.
In this article we will address 11 main types in order for you to identify some characteristics, find your profile and enhance your skills.
- passionate entrepreneur
- innovative entrepreneur
- visionary entrepreneur
- investor entrepreneur
- Multi-entrepreneur
- academic entrepreneur
- social entrepreneur
- Entrepreneur by necessity
- specialist entrepreneur
- businessman entrepreneur
- Entrepreneur by accident
Now I will explain each type in detail. Join me to discover what type of entrepreneur you are or with which ones you identify!
1. Passionate entrepreneur
This type of entrepreneur is characterized by having a clear purpose beyond creating a business or receiving money for it. His profile is idealistic and he wants his passion to be the basis of his entrepreneurship.
It is common for their mindset to be focused on leaving a mark on the world and constantly seek how to improve something important to transcend. You can work hours non-stop and you won’t even notice, because you are completely motivated by your passion.
2. Innovative entrepreneur
It is very easy for him to find improvements in things that already exist. He is always thinking how to solve a problem easier and gets excited about new trends in his business and others. He is interested in understanding the processes of a business and looks for the key piece that makes it more agile.
You are not necessarily looking for innovation in technology, but it is common for you to find many opportunities in the online or ICT world.
3. Visionary Entrepreneur
This profile anticipates market trends and looks for opportunities in emerging niches. It does not bother him to take risks and he has a low fear of failure because he bets on his ideas but always based on data.
His main motivation is to make the ideas he has in mind materialize and he does everything possible to see them in action.
4. Entrepreneur investor
Entrepreneurs who finance their project and make capital investments can enter this profile.
vital to promote it or those entrepreneurs who behave as capitalist partners without intervening too much in the project.
In either case, this profile has the characteristic of having the capital and always looking for the way in which it can generate more profits.
5. Multi-entrepreneur
They are usually hyperactive people who are always launching new business or improvement ideas. They may work in a company or have their own projects, but they will always be able to launch new ideas.
👆Note: They are not people who leave projects halfway even having several ideas at the same time. Rather they carry them out.
6. Academic Entrepreneur
This entrepreneur has studied issues of entrepreneurship, business, finance and has the necessary academic training to start his business. Many of these entrepreneurs are usually very methodical in how they develop their business ideas and are based on proven theories from different authors.
7. Social Entrepreneur
This entrepreneur does not always have his own economic interest and what drives him to undertake is to solve some social problem. He finds opportunities in real issues in his community and regularly starts non-profits. He relies on people who have the same vision of helping others.
8. Entrepreneur by necessity
This profile has the characteristic of starting a business that generates income quickly. He usually develops ideas that he immediately puts into practice and learns along the way. Their motivation is usually economic and they look for emerging opportunities since they are usually in an environment that pushes them to move on their own.
9. Specialist Entrepreneur
It has a defined field of action in which it operates in a simple way because it dominates it. Your profile is more technical and you can focus on a single project due to the degree of specialization you have.
They manage to develop high-quality products or services and their entrepreneurship has to do with their professional or work career.
10. Entrepreneur Entrepreneur
In this profile, the entrepreneurship becomes a profitable company and the entrepreneur changes to a role of less execution. Your main tasks now will be to take the company to new levels and scales.
11. Entrepreneur by accident
In general, this entrepreneur profile receives projects that are not always their own ideas, someone else looks for them to generate a business and they are usually their relatives or acquaintances.
Entrepreneurs who take charge of a new area or extension of their family business also fall into this profile.
Identify your entrepreneurial profile
Now that you know the main characteristics of each entrepreneur, you can now identify which one is the most similar to your profile.
Some questions you can ask yourself are:
- Why did you start your business?
- What drives you to continue in your business?
- Where do you sell your products and what is your business model like?
- What plans do you have with your venture? Is it momentary? To have extra resources?
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Tips to enhance your entrepreneurial skills
Follow these tips to further enhance your entrepreneurial skills and strengths.
Remember that you do not necessarily have a single profile as an entrepreneur, you may have identified with more than one type, so take advantage of these recommendations and create a good power routine.
Passionate Entrepreneur: following your passion and your motive allows other people to believe in you. Boost your capacity with a leadership course.
Visionary Entrepreneur: it is an advantage to have this profile because few people manage to understand trends before they start. To boost your business you can use the OKR’s methodology so that you can set ambitious goals for the future but with daily or weekly key tasks that allow you to constantly see the progress of your work and your trends.
Investor Entrepreneur: diversify and be cautious. Get advice from several specialists, learn about the different investment instruments and don’t bet on just one. You will see that the more you know, the better decisions you will make and you will be able to enhance your ventures.
Multi-entrepreneur: do not try to develop all the ideas you are undertaking in the same way. Delegating responsibilities and surrounding yourself with people who share your vision will make your job easier.
Academic Entrepreneur: Practice makes a master. Many of these entrepreneurs can make the mistake of wanting to carry out processes that are too rigid. In the entrepreneurial ecosystem, iteration is necessary as well as flexibility.
Social Entrepreneur: looking for non-profit associations that can help you with your venture will always make a difference. To create social change, many people are needed and that is what will make your project strong.
Specialist Entrepreneur: you never know too much about anything. If you already master a subject and are sufficiently prepared, do not neglect other opportunities for knowledge, explore new challenges to make your enterprise more powerful.
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Summary
In a few words in this article you could read the following:
What is an entrepreneur?
A person who takes risks and who can start his own business from an idea. Find opportunities where others do not see them.
Qualities of successful entrepreneurs according to Jeff Bezos
- They pay attention to their surroundings
- They think long term
- They don’t fear failure
- They always think of the customer
Among the different types of entrepreneurs we can identify similar characteristics and these are always present in their projects and ways of working. It is important to keep the spirit of innovation alert and continue to create more stories of…
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