As an entrepreneur, you’ve got many options when choosing the type of business that suits you best. Are you a creative freelancer? Or would you instead invest in and run your own company? No matter what type of business you choose, there are specific characteristics that all entrepreneurs share: the desire for success, commitment to hard work, and an entrepreneurial spirit. Read on to learn about ten different types of entrepreneurs, each with their unique way of doing things. Which one is most like you?
The Creative Freelancer
If following your passion is one of your top priorities as an entrepreneur, becoming a creative freelancer might be right up your alley! You can do exactly what you love as a freelancer – writing, design, photography, or something else. Your only requirements are creativity and an entrepreneurial spirit!
The Start-Up Entrepreneur
If you want to be your boss but prefer the comfort of working with a team, then being a startup entrepreneur might be right for you. As the founder of a startup company, you’ll manage other people while overseeing all aspects of the business – from sales and marketing to accounting and product development. At the same time, you’ll have to rely on others to help make your ideas come to life!
Venture Capitalist (VC) Investor
The venture capitalist is a business owner who invests their own money in other businesses, typically in exchange for equity or a stake in the company. These entrepreneurs often look to invest in new startups and help them grow – they make an incredible amount of cash doing it!
Roughly 1/3 of Americans today are freelancers, according to Forbes magazine. And the trend is growing exponentially as more people seek to escape the 9-to-5 grind and work from home on their schedule. As a freelance entrepreneur, you’ll have nearly unlimited flexibility regarding your work hours or where you can work from. You’ll also be able to set your rates and charge clients as much or as little as you like. However, with this freedom comes a level of risk that the traditional entrepreneur can handle quite a bit. Since you’re self-employed, there’s no one but yourself to fall back on if business dries up; it’s all on you to handle marketing and find new clients. But for those who manage their company well and know how to market themselves effectively, this can be a great way to work from home in your pajamas (or Starbucks!)
If you’ve ever been invited by a friend or relative to “join” a direct marketing sales group, you’ve been introduced to a network marketer. It’s what they do: recruit other people into their company and profit from the sales their recruits make. This type of entrepreneur is known in some circles as an “independent distributor” or a “multi-level marketer” (MLM). Network marketers use every avenue available to them – including cold-calling – to bring new people in. They view direct marketing as a numbers game. If enough people sign up, everyone will make money; if not, it’ll be “back to school for me.”
Social and Mobile Entrepreneurs
Social and mobile entrepreneurs thrive on the power of social media. As a result, they’re constantly seeking new ways to satisfy those desires, whether through Facebook, Twitter, or something else entirely. Similarly, they seek out the latest communication tools – their businesses are built on systems that quickly adapt to new modes of interaction. But, of course, this sort of entrepreneur isn’t limited strictly to social networking: Some take advantage of available data about people’s habits (their likes and dislikes) to build search engines that can anticipate what people need even before they ask for it. Other direct marketers like these are more in line with traditional business models, but their reach is immensely broadened thanks to modern technology.
The “Me” Entrepreneur
These entrepreneurs are the most concerned with their self-image. They’re typically business owners with a vision of being powerful and successful, so they tend to focus on building their brand above all else: How well is my company doing? Will it be booming in 12 months? Because these entrepreneurs concentrate more on what others think than being productive, you won’t see them tinker much in day-to-day operations. Instead, they’ll make grandiose plans for growth, hire some people and then let things take care of themselves.
The “Wired” Entrepreneur
Like social networking entrepreneurs, this type is also young at heart – but instead of appreciating youthfulness, they’re addicted to technology. This is the entrepreneur who will choose a mobile device over a piece of paper and pen, the one who says, “Why do I need sleep?” instead of getting some shut-eye – because this person is not happy unless he’s plugged in 24/7.
When it comes to work and play, these entrepreneurs have trouble separating them. They’re always worried about connecting with their audience: Are my followers online? How many retweets am I getting? What are people saying about me on Google+? Because they can’t stop worrying about their feedback loop (and often pay more attention to what others think than what’s best for the business), you will see little consistency in their output.
Good content for this type of entrepreneur can be found on sites like The Huffington Post, Mashable, and TechCrunch.
The Tech Entrepreneur
The tech entrepreneur spends all of his time plugged into the latest developments in the tech world. He thrives on staying up-to-date with the latest trends and constantly trying out new tools and apps to see what works best for his business. Unfortunately, because he’s so immersed in technology, he often needs help maintaining a work/life balance, becoming obsessed with his company at times and neglecting other areas of life.
The Social Entrepreneur
The social entrepreneur is focused on solving a particular social or environmental problem. For example, he may be involved in initiatives to create more affordable housing, fight against poverty, or promote sustainability and green living. Regardless of the cause he’s working toward, the social entrepreneur is passionate about impacting his community and using business as a force for good.
You can read about:
- 10 Best Entrepreneur Magazines You Should Follow
- 11 Skills Every Entrepreneur Needs to Success
- How to Build a Successful Team
Overall, many different types of entrepreneurs bring unique perspectives and skills to their businesses. Whether you’re a tech entrepreneur, a social entrepreneur, or something else, it’s essential to understand what makes you tick so you can choose the right path for your entrepreneurial journey.