In the business universe there are certain qualities that most entrepreneurs and business people possess. But there are also traits that certain groups may define, depending on the industry or the specific skills and activities of the individual.
In this article we will touch on some relevant points about different types of entrepreneurs to help you identify and we will give you some tips to improve your skills according to your profile.
Characteristics of Entrepreneurs
In Mexico, entrepreneurs contribute closely 39.2% of GDP and thanks to them, 98.8% of the production units exist, representing an interesting economic sector that continues to grow despite the recent economic and social difficulties caused by Covid.
Some characteristics of this sector in our country ASEM are the following:
- 61% are men
- 35% are between 26 and 35 years old
- 85% are present digitally
- 57% sell online
What is an entrepreneur?
By definition, an entrepreneur is a person 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 turns those ideas into profitable ventures.
At this time, digital entrepreneurs are at the forefront of the online world and not only starting businesses on the internet, but also migrating their ventures to the online world to keep up.
Characteristics of successful entrepreneurs
In addition to adapting to change and having a business idea, being a successful entrepreneur requires some essential qualities that can develop during the entrepreneurial process or are already specific to each person.
Here are four of the most important qualities that jeff bezosFounder of Amazon, sees himself as essential to being a successful entrepreneur.
They pay attention to their surroundings
Opportunities are everywhere, but according to Bezos, you have to learn to distinguish them and embrace them. Being aware of the market and the consumer is a habit that successful entrepreneurs acquire as a quality.
You 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 opportunity to make changes along the way, always with a view to long-term goals.
You are not afraid of failure
Amazon has lost millions of dollars on projects like Amazon Destinations, a hotel reservation site, Amazon Web Pay or the Firephone. All of this has taught Amazon lessons, and Bezos sees it not only as a failure, but an opportunity to learn from it.
You always think of the customer
An entrepreneur must always find a way to align their services with the customer. Amazon teaches us many lessons about this with its Happiness Guarantee.
How many types of entrepreneurs are there?
We can categorize the types of entrepreneurs based on their business style, length of service, business model and the steps they follow to make their idea a reality.
In this article we will address 11 main types to help you identify some traits, find your profile and improve your skills.
What types of entrepreneurs are there?
This type of entrepreneur is characterized by having a clear purpose that goes beyond starting a business or receiving money. His profile is idealistic and he wants his passion to be the basis of his entrepreneurship.
It’s common for your Way of thinking Focus on making your mark on the world and constantly looking for ways to improve on something important in order to transcend it. You can work for hours and not even realize it because you are fully motivated by your passion.
It is very easy for him to find improvements in what already exists. He is always thinking about how to solve a problem more easily and is excited about new trends in his and other business. He is interested in understanding the processes of a company and is looking for the core that makes it more agile.
You are not necessarily looking for technological innovations, but it is common that you will find many opportunities in the online or ICT world.
This profile anticipates market trends and seeks opportunities in emerging niches. He doesn’t mind taking risks and has a low fear of failure because he relies on his ideas, but always based on data.
His main motivation is to make the ideas he has in his head come true and he does everything to see them in action.
Entrepreneurs who finance their project and advance it with capital investments can enter this profile, or those entrepreneurs who behave as capitalist partners without getting too involved in the project.
In any case, this profile has the trait of having the capital and always looking for ways to make more profits.
They are usually hyperactive people who are always coming up with new business or improvement ideas. They may work in a company or have their own projects, but they will always be able to spark new ideas.
👆Note: They are not people who halfway leave projects, even though they have several ideas at the same time. Rather, they execute them.
This entrepreneur has studied entrepreneurship, economics and finance issues and has the necessary academic training to start his business. Many of these entrepreneurs tend to be very methodical in developing their business idea, relying on proven theories from various authors.
This entrepreneur does not always have his own economic interest and what drives him is solving a social problem. He finds opportunities for real issues in his community and often starts charitable organizations. It is supported by people who share the same vision of helping others.
Entrepreneur out of necessity
This profile has the trait of starting a business that generates income quickly. He usually develops ideas that he immediately implements and learns along the way. Their motivation is usually economic and they seek new opportunities as they are usually in an environment that pushes them to start their own business.
She has a defined field of action in which she acts simply because she has mastered it. Your profile is more technical and your level of specialization allows you to focus on a single project.
They manage to develop high quality products or services and their entrepreneurship is related to their professional or professional career.
In this profile, entrepreneurship becomes a profitable venture and the entrepreneur moves into a less executive role. Your main task now is to take the company to new levels and dimensions.
Entrepreneur by chance
In general, this entrepreneur profile receives projects that are not always their own ideas, someone else is looking for them to generate a business and they are usually their relatives or acquaintances.
Entrepreneurs who are taking on a new area or expansion 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 determine which one most closely resembles your profile.
Some questions you can ask yourself are:
- Why did you start your company?
- What drives you to keep going in your business?
- Where do you sell your products and what is your business model?
- What are your plans for your company? Is it temporary? Having extra resources?
Tips to improve your business skills
Follow these tips to further develop your entrepreneurial skills and strengths.
Remember that as an entrepreneur you don’t necessarily have a single profile, you may have identified with more than one type, so take advantage of these recommendations and create a good power routine.
Passionate Entrepreneur: If you follow your passion and motive, other people can believe in you. Increase your capacity with a leadership course.
Visionary Entrepreneur: Having this profile is an advantage as few people manage to understand trends before they start. To boost your business you can use the OKR methodology so you can set yourself ambitious goals for the future but with daily or weekly main tasks that allow you to constantly see the progress of your work and your trends.
Investor Entrepreneur: diversify and be careful. Get advice from several specialists, get to know the various investment instruments and don’t just rely on one. You’ll see that the more you know, the better decisions you’ll make and you’ll be able to improve your ventures.
Multi entrepreneur: Don’t try to come up with all the ideas you undertake in the same way. Delegating responsibility 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 run processes that are too rigid. In the entrepreneurial ecosystem, iteration is just as necessary as flexibility.
Social Entrepreneur: Finding nonprofits that can help you with your business will always make a difference. It takes a lot of people to create social change, and that makes your project strong.
Specialist contractor: you never know too much about anything. If you already master a subject and are adequately prepared, don’t neglect other avenues for knowledge, explore new challenges to make your business stronger.
In a few words, this article could be read as follows:
What is an entrepreneur?
A person who takes risks and who can start their own business from an idea. Find opportunities where others don’t see them.
Characteristics of successful entrepreneurs according to Jeff Bezos
- They pay attention to their surroundings
- You think long-term
- You are not afraid of failure
- You always think of the customer
11 types of entrepreneurs
- passionate entrepreneur
- visionary entrepreneur
- investor entrepreneur
- Multi entrepreneur
- academic entrepreneur
- social entrepreneur
- specialized entrepreneur
Among the different types of entrepreneurs, we can identify similar characteristics that are always present in their projects and ways of working. It is important to keep the spirit of innovation alive and to write more success stories.
We are sure that in our blog You will be able to find some ideas and more inspiration to break it further with your business.