Among the ideals of life that many people draw for themselves, entrepreneurship is part of many of them, especially in the era of digital transformation. But what is being an entrepreneur?
There are many people who understand entrepreneurship as a sign of comfort and financial stability. Others imagine it to be a feeling of achieving the seemingly impossible.
Whatever the point of view, one thing must be clear: entrepreneurship is not easy. But the benefits explain why so many people strive to achieve this goal.
In this post, we will help you see what an entrepreneur is, what skills are needed to do this, and what types of entrepreneurs exist. Follow us!
After all, what is being an entrepreneur?
To begin our discussion with some historical background, let’s look at the point of view of the Austrian economist Joseph A. Schumpeter.
In his book “Capitalism, Socialism and Democracy”, published in 1942, Schumpeter states that the entrepreneur is a visionary who sees beyond common sense and realizes this vision.
The fact of putting the vision into practice is essential to differentiate the entrepreneur from the dreamer. After all, how many good ideas have you seen? Or better yet, how many great ideas have you had?
Without execution, an idea is just a random thought. Entrepreneurship implies the generation of value, which only occurs with concrete actions.
In most cases, the visions of entrepreneurs are to solve the main problems that affect many people. As a result, it is possible to gain a lot of recognition, money and power as an entrepreneur.
But the main objective is to accomplish a goal, whether it is to solve a problem or a way to make life easier for others.
What type of entrepreneurs make up the market?
Entrepreneurship is unique, but there are many directions an entrepreneur can take to realize their business visions.
Now take a look at some of the best known types of entrepreneurs on the market!
1. Social Entrepreneur
He is the type that has a social purpose behind his project or company. It can be a product that makes the world a more sustainable place, corrects an injustice that the public system cannot resolve, or makes the population aware of an imminent collective risk.
2. Digital entrepreneur
The digital entrepreneur builds his business 100% online. This type of business has only become possible with the emergence of this market and the progress made by digital transformation.
Blogs, companies that sell information products and services carried out over the Internet are some examples of digital projects that you will find on the web.
This type of entrepreneur needs to master digital marketing techniques like no one else, as this is the natural environment of their company.
3. Individual entrepreneur
The individual entrepreneur is a relatively new form of business that was created in Latin America to combat informal work.
Thanks to this model, independent professionals, merchants and providers of all kinds of services can legally establish a company and expand their business visions.
4. Associate worker
Some organizations house many professionals who work in a kind of association, not exactly as employees.
The professional joins the cooperative and produces for it. He does not execute an operation alone, but is responsible for the work that he does. This is the role of the cooperative entrepreneur.
5. Franchisor (and franchisee)
Many entrepreneurs have such a strong vision of expansion and scalability that they decide to accelerate the process through franchises.
That is, they open opportunity for other entrepreneurs to run new units of their business and pay a fee for it. This entrepreneur is called a franchisor.
Already the entrepreneur who deals with a new business unit is the franchisee. In exchange for fees and administration, he receives full support from the franchisor to get the business going in his region.
have you heard of intrapreneurship? It is the feeling of entrepreneurship, even when the person does not run a business of their own. That’s how it is,you can start as someone’s employee!
The point is: Many modern organizations have realized that empowering and empowering employees creates a sense of ownership. This brings superior results to the business, as well as leaving the professional more satisfied.
What are the differences between entrepreneur and entrepreneur?
Have you ever thought that entrepreneur and entrepreneur are the same? If your answer was yes, you can be sure that you are not the only one who thinks so.
In many cases, this association is real, but the fact is that an entrepreneur is not always an entrepreneur, and vice versa. Now we are going to show 3 basic differences between the two activities!
1. Main focus
The main objective of the entrepreneur is keep the business healthyie earn enough money and keep costs in order. Nothing wrong with that.
The entrepreneur also has this concern, but his main focus is realize your vision for the business. This requires the ability to innovate, guide people and lead them to realize that vision to the best of their ability.
2. Attitude towards work
The entrepreneur does not always have a positive attitude towards the mission of the company. As long as the financial results are correct at the end of the month, there are many entrepreneurs who do not care about:
- quality of relationships in the work environment;
- employee morale;
- talent retention and development.
The entrepreneur, on the other hand, knows that the good results are not maintained without the commitment of employees and a positive attitude towards the work to be done. Goes the long haul and is willing to sacrifice immediate profits for the good of the company.
3. Business vision
The vision of the entrepreneur is sometimes limited to what is being done at the moment and how much financial value is generated at the end of the month.
The entrepreneur understands that as important as monthly income is customer satisfaction, brand positioning and the quality of the product itself.
Therefore, he works with an eagle vision of the company and does not miss the opportunity to explore new horizons when the opportunity arises.
Why is it worth being an entrepreneur?
There are at least 3 advantages to undertake in your life, both personal and professional. They are:
The pleasure of creating something from scratch and helping others do it gives a sense of purpose and personal satisfaction.
A successful entrepreneur achieves a good financial return and, with this, experiences new experiences that he would not have access to.
The life of an entrepreneur is an endless class, both personal and professional, to face the challenges of everyday life.
What are the characteristics of a successful entrepreneur?
Entrepreneurship is a great challenge, and it takes much more than good will to make a company work.
It doesn’t matter if the goal is to solve a business problem or create a solution that helps change the world through social and green media.
The fact is that you need these 5 qualities to achieve the desired success:
Executing a unique vision, which perhaps no one has done before, is certainly a task that requires exhilarating creativity.
You will have to think about every detail, the problems that may arise and how to make your solution workable for the maximum number of potential users of your service/product.
When a whirlwind of ideas comes to mind, the successful entrepreneur is the one who has enough focus to discard the vast majority and focus on the main thing.
This means even letting go of ideas that are good but do not contribute to the current moment of the company.
Forget the story that someone brilliant can act like a mad scientist who lives in the midst of chaos and benefits from it to find the answers they need.
Organization is essential for those who want to turn an idea into a relevant solution. A good organization helps to keep the focus, already mentioned, and the productivity high.
Even the most complete entrepreneur cannot be good at everything. Also, the bigger your business vision, the more you’ll need people, tools (like a CRM), and structure to build on top of it.
It is not by chance that self-knowledge is so important. This is what helps you discover the limitations of the entrepreneur, how to improve and what should delegate for everyone else.
Have you noticed how much we talk about vision in this article? And it wasn’t for nothing. A true entrepreneur needs to see beyond what everyone sees.
Otherwise, you will always invest in what everyone already knows, do what everyone else already does, and will never be able to stand out or solve a new problem. This does not mean “reinventing the wheel”, but having a clear path of what you can improve and how to get there.
Now you have understood what it is to be an entrepreneur: as we have seen, it is not about making a lot of money or even being an entrepreneur. Entrepreneurship is much more a matter of attitude.
It is an initiative that needs to be developed. So, exercise the skills presented here and put your vision into action. This is what will make you a successful entrepreneur.
By the way, have you thought about starting a startup? Stay with us a little longer and learn a little more about startups and everything you need to start your own.