There are various types of entrepreneurs. For the most part though, a regular or a traditional entrepreneur is generally known as a person who puts up his own business to make a profit. They go about running and managing their business on their own terms.
They know too that, to be a successful business owner, they will need to build a dedicated consumer base who will buy their products or avail of the services they offer. As such they’re aware of and accept the risks involved in running such a business venture. They know it’s a make or break affair. He rarely gives up though.
They may fail a few times but learn from past mistakes, stands up again to keep building their business. Business owners are people that want to make a change. Are you one of them?
But being an entrepreneur is not so straightforward. There are many categories of business owners out there. Which one do you fall in?
Let’s learn what types of entrepreneurs are out there.
Your regular, run-of-the-mill entrepreneur is the business owner who works with a support team. While they may start off alone, their hard work is geared towards ultimately growing their enterprise and hiring several people to help them achieve their business goals. They assign and delegate to his staff the work required in bookkeeping, documentation, transactions filing, research, sales and other aspects of his business.
They are willing to give up their regular job, its security of tenure and work towards starting up and building a business despite the risks involved. They are also committed to spending their time, energy and other resources to go through the almost-certain ups and downs of your business until it becomes strongly established.
What type of entrepreneur are you?
Now comes the nitty-gritty. The more specific types of entrepreneurs. Which one are you?
This is the person who runs his business completely alone. They like it that way.
Rather than depending on a support team, a solopreneur relies only on himself. This way they avoid the hassle of resolving conflicts among his employees or partners and generally do away with petty office politics.
They prefer being independent, totally in charge and not relying on anybody. Should they need any kind of help, they usually outsource it.
Are you a solopreneur?
- While working in a company in whatever capacity, did you notice that you work better alone? Getting better results with no or very little help from your officemates?
- Do you make decisions, big and small on your own?
- Are you averse to partnerships or joint ventures or investors putting in money into your business and encroaching into the management of your business?
- Are you a jack of all trades always learning the different aspects of a business, like financing, or marketing, or administration or promotions to boost your level of intelligence, business-wise?
- Do you manage your finances, make decisions and enjoy working generally on your own?
If you answered yes to most (or all) of these questions, then definitely you have some solopreneur in yourself.
Webpreneurs are also referred to as e-preneurs because their businesses are completely based and managed online. They offer products or services that people need and are accessed and bought from just about any place with an internet connection.
Are you a webpreneur?
- You’re marketing a product or a service that is meant to be sold, enjoyed online?
- While you don’t need to be tech-savvy, do you have a fairly good knowledge of the workings of e-commerce and enjoy learning about tech?
- Your product is special, unique and has some sort of a relevant differentiation from the competition that gives a market segment a good reason to buy it? Do you see yourself as the new Uber or Airbnb?
- Do you want to build an interesting website that’s user-friendly, easy to navigate and laden with clear, attractive visual images and attention-grabbing description of your product or service?
- The idea of renting a site and putting up a traditional store or outlet to sell your product is not appealing to you? Are you sure that going online allows you to reach more people?
You’re a webpreneur if you answered yes these questions.
Mompreneurs and Dadpreneurs
As the term suggests, mompreneurs and dadpreneurs are business owners, typically mothers, who not only manage small businesses, they’re also preoccupied with raising kids (either with a partner or as a single parent).
The big challenge mompreneurs and dadpreneurs face is creating a balance between growing a successful business and raising their children.
Are you a mompreneur or dadpreneur?
- Are you a parent (single, married or divorced) with an entrepreneurial mindset and an inclination to do things that can produce additional income?
- Are you gutsy enough to go out there and start a business, growing it and making good money for your family?
- Are you aware that it’s going to be tough as nails running a business and coming home on time to prepare the family’s dinner?
- Do you have a clear, specific idea of what it is you’d like to offer to the market? Have you got some strategic plans on how to do this without sacrificing time with your kids?
- Do you sometimes struggle with finding the perfect balance of work-time and family-time?
You’re definitely a dadpreneur or mompreneur if you answered yes to the majority or all of these questions.
A socialpreneur is the business owner who’s not so much into making money but more on helping to make a better world.
With this lofty passion, they are the type of person that’d get into a business because it is going to help a community in need or help a charitable organization. To them, making a profit is secondary.
Are you a socialpreneur?
- Are you interested in starting a business selling products or offering a service that’ll help people boost and improve their well-being?
- Making money from your business is not the be-all-and-end-all of your drive for success?
- Are you kind-hearted, compassionate and have a passion for helping make your community a better place to live in?
- While driven by a desire to meet a social need, do you make sure that you have a clear, strategic plan for your business to grow and succeed?
- Is there a charity or a cause you’d love to help by donating the profits of a business?
Are you a socialpreneur? You definitely must be if you answered yes to all of these questions.
Multipreneurs are entrepreneurs that just can get enough of entrepreneurship. They have several businesses or projects running at the same time. They have the energy and willpower to start several ventures (as if just one wasn’t difficult enough). They can also be called Serial entrepreneurs.
Multipreneurs like diversity, so their businesses are usually all in different industries or areas.
Are you a multipreneur?
- Do you have the drive too many things at once and you don’t mind multitasking?
- You have several, very different interests and you want to turn each one into a business venture?
- Are you ok with having tons of work and enjoy the pressure and adrenaline that comes with it?
- Do you like tackling obstacles and work hard?
- Do you want to have several businesses so that you can reap the rewards of your hard work sooner rather than later?
If multitasking is your jam and you answered yes to these questions, then definitely you can call yourself a multipreneur.
Other types of entrepreneurs
Beyond these 5 most popular models of entrepreneurship, there are other types of entrepreneurs. For example
- Expatpreneurs are people that decide to leave their countries and start businesses somewhere else.
- There’s the Intrapreneur, who develops innovative ideas within a company as sub-businesses.
- Studentpreneurs are students that have an entrepreneurial drive from a young age and start a business while still being students.
- The Vetpreneurs are the Armed Forces veterans who start and grow their own businesses.
- On the other hand, Antipreneurs are business owners that are against the capitalistic structure of many businesses.
Entrepreneurs are everywhere!
Knowing which one you are (or would want to be) cannot but give you a clearer picture of what it’ll take to make a success of the business you’re in or may want to get into.
Of course, you can be more than one type of entrepreneur. for example, you could be an expatpreneur and a solopreneur. Or maybe you are a mompreneur, multipreneur and vetpreneur.
Should you, in the process of discovering yourself as an entrepreneur realize you’d love to receive business news, management tips and ways to grow a business, you could subscribe to the Camino Financial Newsletter for more practical and gainful insights in running a business.