Would you consider yourself an entrepreneur or a wantepreneur? How about a world changer?Just like every individual is different, entrepreneurs are also unique in one way or another. That is particularly evident in the way they operate their business e.g. how they are doing things as well as in the way they perceive things and are able to make use of opportunities. But the biggest difference is the motivation behind setting up a startup. This is the reason they want to become entrepreneurs in the first place.
If you are thinking of becoming an entrepreneur or you are one already, you just have to think about what it is that you enjoy in this entrepreneurial role as well as what you are trying to achieve. This is essentially what is going to differentiate you from other entrepreneurs who are perhaps working on the same things but are not as focused as you are on your goal. First you have to know what you are made of and whether you have what it takes to be successful in that area.
As such it is essential that you discover your motivation. What is the element that drives you towards success? It might help if you take a look at the different definitions of entrepreneurs and identify which one you are more likely to be. While no entrepreneur type is better than the other, this list should help you identify their characteristics and encourage you to look at your strengths and weaknesses and figure out what you need to work on to be more efficient.
So, let’s take a look:
1. The serial entrepreneur
You have just set up a business and you are already in the process of creating another one. While this shows you are creative and full of ideas, it also shows that you are too ambitious and you are more likely to own many businesses instead of just one. Just like a serial killer, you would never stop committing crimes after your first victim and you are so obsessed with the idea of entrepreneurship that is often difficult for you to handle.
2. The copy-cut entrepreneur
The copy-cut entrepreneur is also an excellent researcher but they use their research skills in a different way to other entrepreneurs. Most likely they would see the success of other entrepreneurs and try to make it their own by doing exactly what the others are doing. While modeling business success can be effective, there is a huge difference between that and copying. If you are merely stealing ideas to employ them in your own strategy, it is important to first ensure that you can make them relevant to your business.
3. The world changer
This entrepreneur is not interested in making money, but rather in helping people. If you consider yourself an innovate leader then you have probably started a business for one reason: to make the world a better place. As such you probably have high expectations of yourself when you tell others how you plan to leave your own mark on the world, and make a big impact on people’s lives. While that is possible, a successful entrepreneur needs to be able to say that they have built a business that will withstand the test of time and for that they first need to invest in the company and then associated their services to the needs of the people.
4. The headlines entrepreneur
Some people are into entrepreneurship for the money; others claim they do it for the sake of humanity, while others are doing it purely for the status quo. The Headlines Entrepreneur though is solely interested in becoming known to the public. He loves being admired by people and wants to show off his success every chance he gets. While confidence is a necessity to becoming a successful entrepreneur, overconfidence is often not. Likewise gaining popularity and high social status can also be achieved while staying humble.
5. The opportunist
The opportunist entrepreneur spends a huge amount of time researching and thinking about their next move, and they are excellent risk managers. Essentially they are able to identify opportunities easily and always find the perfect time to act on things. They are intuitive but sometimes impulsive, so perhaps they need to work more on their planning techniques and investing in a single strategy that will help the company perform in the future.
6. The research entrepreneur
This entrepreneur loves learning and is always interested in finding new ways or strategies to develop their business. But too much information can easily mislead them into unexplored territory and as such fail to deliver. While learning can be useful, it is not helpful when it is never implemented. The perfect formula to success though is learning and taking action.
7. The cashflow entrepreneur
If you have only set up a business to make money, you might want to change your tactic. While being money-conscious is a useful quality some entrepreneurs often cross the line. In order to be successful, entrepreneurs need to be able to make something out of nothing but for that they need to invest in their team and embrace innovation as a guide to success. If you are being too stressed about the cash-flow and not investing enough money, you are only setting yourself up for failure.
8. The wantepreneur
This type is the so-called wanna-be entrepreneur. All this guy does is talk and talk about how much they want to become an entrepreneur but cannot decide what project they need to start first and how they can do it. They have many brilliant ideas and but they never fully commit to a single project, either because they do not want to quit their 9 to 5 job, or they are too scared to do so. Either way there is a high chance they will never be entrepreneurs.
As you can see, there is no one way of being an entrepreneur. Everyone has their weird quirks, their own characteristics and ways of doing things. As such, there are no standard rules for being an entrepreneur and that is just one of the perks of being part of the business world. The good news is that you can be more than one type of entrepreneur, and you get to see what pieces you are missing from the puzzle of what makes you a successful entrepreneur.
So are you an entrepreneur? How would you define yourself? Let me know in the comments section below…