In a world where work satisfaction, fulfilment, and being true to who you are, take precedence each day, we see a massive shift of the workforce from a monotonous 9-5 job to pursuing their dreams through entrepreneurship. A simple and precise way of describing an entrepreneur would be someone who creates or establishes a new business, prepared to take up the most risk and enjoy the most rewards.
The major distinction between being just a business owner and being an entrepreneur is the individual’s attitude and mindset. Even though it sounds simple and highly motivating, it takes a lot of planning, studying the market, analyzing your competition, and, most importantly, knowing yourself as a boss and leader.
If this is a question that riddles your mind, here is a quick overview of the different types of entrepreneurs for you to self-analyze.
Social Analysts have classified entrepreneurs into six types after studying and interacting with around 30,000 entrepreneurs. A lot of research, right! However, most successful entrepreneurs fit into one of these kinds. Now, this doesn’t mean that a particular entrepreneur has this adjective or characteristic associated with them. It broadly means that this characteristic overpowers the others or that the entrepreneur displays these characteristics more dominantly than the others.
- The Hustler
Say Hi to someone who can sell ice to a polar bear; that is how enthusiastic hustlers are. They are go-getters and let nothing stand in their way. They are self-starters and are high on self-discipline. Every challenge, every hurdle pushes them to strive harder and continue to achieve the plan. Confidence and an outgoing personality are their weapons, always used to impress every customer, stakeholder, and investor. The American Businesswoman – Mary Kay Ash would be a perfect example of a Hustler Entrepreneur.
- The Innovator
Girdled with out-of-the-box ideas, these entrepreneurs put unique ideas into action. They are in constant pursuit to improve, upgrade and better existing ideas. They are usually characterized by being frank and lacking secrecy, warm, considerate, compassionate, and, more importantly, emotionally stable despite the unpredictable challenges and situations entrepreneurship brings. Evan Williams, the co-founder and founder of some of the largest internet platforms, is an Innovator.
- The Machine
Just like the name suggests, these are people of action. They strongly believe in getting things done. They are problem solvers, diligent and accurate in every task they take up. They are vigilant, quick to act and are abstract thinkers. They are characterized by quality and timely delivery of work. Does the name Bill Gates ring a bell? Guess what! Bill Gates is an epitome of a Machine Entrepreneur.
- The Prodigy
These kinds of entrepreneurs are born to be entrepreneurs. They have the inborn sense of business, intellect, and persona to excel. They are trendsetters and groundbreakers in everything that they do. High on fluid intelligence, they think abstractly and are always ready to solve problems. Agreeableness is a trademark quality of the prodigy. ELON MUSK IS a CEO, a founder, a product architect, and a chief engineer who has proved that he is born to do what he is doing.
- The Strategist
The strategist loves to and is exceptionally good at planning. They are thinkers who tap into their creativity and tactility to plan and execute. Often, they are always on the winning side. They are always ready, with a game plan continually in the works. Emotional stability to think, analyze, plan, and execute is one of the strongest attributes of a strategist. Steve Jobs leads the bandwagon of Strategist Entrepreneurs.
- The Visionary
As the name suggests, these entrepreneurs envision and then bring to life their biggest dreams. They are original, new, and innovative in their ideas, plans and business models. Their outgoing nature captures people’s attention, and everyone idealizes them and is motivated, challenged, and encouraged by their journeys. Who better than Oprah Winfrey to lead this troop of entrepreneurs?
With competition increasing, multiple options available to consumers, a new business plan, a new entrepreneur entering the business world each day, it is essential to know your unique selling proposition. It helps to know your brand, who you are, and this factor will determine your success and longevity in the game.
To know the kind of entrepreneur you are, I recommend you take the personality test offered by Wealth Dynamics, the world’s leading profiling tool for entrepreneurs. Our Profile test tells what strategy to follow to build wealth. Try it now!