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5 Real Types of Entrepreneurs

types of entrepreneurs
various kinds of entrepreneurs in business

What are the types of entrepreneurs? Entrepreneurs are value creator, they turn ideas into reality. Several definitions have been given to the concept ‘entrepreneur’ as I have previously discussed. To some persons, an entrepreneur is someone "who unites all means of the means production to create value for its customers.”

It will not be new to you to say that entrepreneurs create jobs and contribute to the economy development of a country, notwithstanding the type of entrepreneur.

As entrepreneurs, you are uniquely different from me. But there is one most common thing we share together, which is the fact that we are control freak. We always want to create a business that gives us the opportunity of living the life we dream of.

Even while we share some features together, our dissimilarity gave birth to the different types of entrepreneurs and each type tends to be based on our personality, abilities and the environment we find ourselves.

Even most entrepreneurs don’t know that there are different types of entrepreneurs. We tend to generalize everyone with the word, “entrepreneur” I guess you do the same too. While this isn’t bad, it necessary that you know the various kinds of entrepreneurs,

So, here are the different types of entrepreneurs.

Types Of Entrepreneurs

1. The Innovative Types Of Entrepreneurs:

This type of entrepreneur is known for inventing the wheel. If you ever think of groundbreaking innovation, you think of this type of entrepreneur. These are the likes of Steve Jobs, Larry Page of Google and Microsoft founder Bill Gates and our own Nigeria entrepreneur, Nnamdi Ezeigbo.

This kind of entrepreneur is preoccupied with introducing something new into the market. They are interested in innovations and invest substantially in research and development.

In most cases, he or she changes the way people think about and do things.

One common attribute of this type of entrepreneur is that they are exceptionally passionate and obsessive.

2. Imitating Types Of Entrepreneurs :

This type of entrepreneur is most time tagged “copy cat”. Sometimes, you see someone who is working in a company leaving the company to establish his own firm. This most time is due to bad procedure and he or she believes he / she can improve on the existing system.

In a nutshell, he observes an existing system and replicates it in a better manner. He or she could improve on an existing product, production process, technology and through their vision create something similar but better. This is the case of the student becoming better than the master!

Recently, ESY Media was consulting for a client who does similar thing.

The thing is, there is nothing wrong with modeling someone’s success. In fact, it’s actually very smart. But just make sure you don’t copy without improving on the idea.

If for instance, the business model you’re copying is a retail outlet, you could decide to add an online shopping to your own model besides the traditional retailing model.

3. The Fabian Types Of Entrepreneurs :

This type of entrepreneurs is very careful and cautious in adopting any changes. Apart from this, they are lazy and shy away from innovations.

4. The Drone Types Of Entrepreneurs :

This type of entrepreneurs is resistant to change. They are considered as ‘old school’. They prefer to stick to their orthodox methods of production and systems.

5. The Social Types Of Entrepreneurs :

Social entrepreneur is an individual who identifies public problems and apply business acumen to resolve them. A social entrepreneur instead of only creating a business to make profit, he simultaneously strives to contribute to societal development and regulate positive change by creating social and economic values.

Hence, the success of the social entrepreneur is measured both in terms of profit and in terms of their effect on the community via social development.

Take for instance those in the modeling industry.

Finally, it’s over to you now.

What type of entrepreneur are you? Please let me know in the comment box below. Did you just say what about me? Oh! I’m an Imitative entrepreneur with so much creativity in my head.

Uchegbu Ifechukwu Princewill

Uchegbu Ifechukwu Princewill

I am an avid reader with the notion that every knowledge acquired is essential to human existence. I'm a budding writer, passionate about research to the extend that if I am not surfing the internet, I would be doing something else to gather more information.

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