{"id":52520,"date":"2022-01-05T11:11:19","date_gmt":"2022-01-05T16:11:19","guid":{"rendered":"https:\/\/www.sogolytics.com\/blog\/?p=52520"},"modified":"2022-01-05T22:13:30","modified_gmt":"2022-01-06T03:13:30","slug":"kinds-of-entrepreneurs","status":"publish","type":"post","link":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/","title":{"rendered":"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You?"},"content":{"rendered":"

Understanding who you are is an important endeavor, and vitally important when it comes to the entrepreneurial spirt. What are your aspirations? Where do you begin? No matter how successful the business owner, they all started off with the same questions.<\/p>\n

<\/div>\n

To begin with: An entrepreneur<\/strong> is someone who creates or organizes a business while taking in a higher level of risk than they normally would. Translation: They extract value others may not see, or they go places where others are not willing to tread.<\/p>\n

<\/div>\n

\"entrepreneur\"<\/p>\n

<\/div>\n

By definition, an entrepreneur is a soul set on seeing things that aren\u2019t there, understanding human behavior, and willing to envision something much larger than themselves. As you can see, nowhere in the definition does it outline a level of success. Why? Because success, for the entrepreneur, is determined by them, or more pointedly, what type of entrepreneur they are. For those just starting down this path, it may be as terrifying as it is exhilarating \u2013 and if you understand what I mean, you are already on the trail to becoming an entrepreneur.<\/p>\n

<\/div>\n

But what kind <\/em>of entrepreneur are you? Knowing where your strengths are will lead to greater success down the road. It also leads to a you have better understanding of your future customer journey<\/a>, how employees will engage with you, and much more. This is simply the first step, and nowhere near the end of your professional development<\/a> journey.<\/p>\n

<\/div>\n

So, batten down the hatches while we sail the open seas of discovery. The ways to navigate starting a business are endless, but let’s begin by understanding who you are. Different entrepreneurs are going to create different businesses, strategies, and visions. Here are 11 different types of entrepreneurs.<\/p>\n

<\/div>\n

The Lucrativepreneur<\/h2>\n

#EntrepreneurGoals. The Lucrativepreneur has taken all the steps, identified who they are and what they want to give to the world \u2013 and then accomplished it. They are the ones who are not focused on leaving behind a legacy. Why did we start with them? Because everyone must have a barometer, and no matter where you fall on the continuum, here is the end goal.<\/p>\n

<\/div>\n

This is the ideal most people envision when they dream of starting their business. TV appearances, interviews, red carpet gowns, and financial security like they\u2019ve never seen before. Any type of entrepreneur, technically, doesn\u2019t start at this point, but finishes here during their career. For the Lucrativepreneur, there is no such thing as failure, and in fact the majority of them understand that most businesses won\u2019t make it (about 20 percent of businesses<\/a> fail in the first two years, 45 percent in the first five).<\/p>\n

<\/div>\n

The Wannapreneur<\/h2>\n

#IWantItAll. Ever hear about the guy who wanted to open a pub? No, but you know there are thousands of them in the world today. The Wannapreneur is characterized by a ton of new ideas, all the time, but very little follow through, or no success when they do. Basically, they are stuck in a perpetual cycle of idea and forget. Sometimes roadblocks include capital, or maybe time, energy, knowledge, planning \u2013 the reasons are numerous. The result, however, is the same. Big dreams, no action.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Focus. Focus is going to be your best friend. Don\u2019t run to the next idea until you\u2019ve done your research and planned. Distractions from the end goal will abound and will interfere with your success every time. You must be driven. Ask yourself: Do I want to own a business, or do I love the idea<\/em> of owning one?<\/p>\n

<\/div>\n

The Success-Firstpreneur<\/h2>\n

#ShowMeTheMoney. The Success-Firstpreneur knows what they want \u2013 monetary success along with high metrics. Don\u2019t confuse this with being all about the money. As for many entrepreneurs, once they step out of the \u201cdreamer\u201d phase, this is where they land. They become more focused on the revenue as the measure of success because it\u2019s the easier one to watch. If they invested $1,500 in a small startup and finished the year with $30,000 profit, they are successful. Guess what? If they had that same startup and ended with $1,800, they are still successful. Of course, their next step would be to scale it, but you get the idea.<\/p>\n

<\/div>\n

Tips if this is you: <\/em><\/strong>Don\u2019t get lost in money. While every business owner wants to be financially successful, many businesses just aren\u2019t in their first couple of years. Still, focusing on cashflow itself isn\u2019t a problem (Warren Buffet is a great example of a Success-Firstpreneur!) as long as you ensure the focus on finances doesn\u2019t turn toxic. It\u2019s a metric, and simple as that.<\/p>\n

<\/div>\n

\"entrepreneur<\/p>\n

<\/div>\n

The Twinzies Entrepreneur<\/h2>\n

#DoubleTheCompany. Also known as the Imitator, you rinse, wash, and repeat other ideas and capitalize on them. They say imitation is the best compliment, and this form of entrepreneur is the epitome of it. Here, the plan is to imitate what is already working while making small changes to make it your own, from branding to marketing strategy, and more. The idea is not to break what already works, but to exit from one company to the next as you scale to keep success flowing.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Plagiarism is bad. The idea isn\u2019t to make an exact duplicate. As they say, there isn\u2019t much new under the sun. While we may use the same ingredients, that doesn\u2019t mean the sauce will taste the same. Focus on making small changes to your business to differentiate it from the original inspiration. Your idea shouldn’t be a direct carbon copy, but instead focus on what can be changed and improved upon.<\/p>\n

<\/div>\n

The Jack-of-All Trades<\/h2>\n

#OneStopShop. Amazon. Ebay. Etsy. While these are marketplaces that offer other seller\/creator merchandise, they’re essentially a Jack-of-All Trades type of business. The skillset here is highly mixed, where you may not be a master of any one aspect, but you are great at a lot of them. You may have a business that is made up of a lot of different pieces, each segment not doing a lot individually, but when they come together as a whole, the availability of your services or offerings is broad enough to perhaps give you a greater market share. What\u2019s most powerful about this type is the versatility.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Don\u2019t bite of more than you can chew. Because you\u2019re so good at a lot of different things, you can run into doing too much and spreading yourself too thin. The temptation to have a large array of products or services can be high in this type, so remaining focused enough to improve what you do well is a better strategy.<\/p>\n

<\/div>\n

The Innovatorpreneur<\/h2>\n

#InspireTheWorld. What characterizes the Innovatorpreneur is their views of business as an opportunity for dreams to become reality. You want to go where no one has gone before. You want to give something to the world. What drives you isn\u2019t the bottom line \u2013 though innovators tend to be very successful when things take off \u2013 but what vision you create. Steve Jobs is a prime example here. It\u2019s always about the vision and how you can drive humankind forward.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> You can get lost like the Wannapreneur, but in a different way. The Wannapreneur never brings anything to fruition due to lack of focus or follow-through. For the Innovatorpreneur, it could be getting locked on an idea you don\u2019t have the capital, resources, or knowledge to bring into existence. It\u2019s recommended to have a dream and go for it, but be willing to have backups and alternatives to feed the dream.<\/p>\n

<\/div>\n

\"entrepreneur<\/p>\n

<\/div>\n

The Opportunitypreneur<\/h2>\n

#KnockKnock. The Opprotunitypreneur takes risks because of high-energy, positive attitudes, but does so at the right time to capitalize. And that\u2019s the key there: At the right time<\/em>. They are a studious, researching markets and understanding trends so they can capitalize on them immediately. This, of course, means they must have the ready capital, resources, or knowledge to do it.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> My mother used to say, \u201cAll money isn\u2019t good money.\u201d That is very true here. Remember that all opportunities aren\u2019t good<\/em> opportunities, and you must do your research.<\/p>\n

<\/div>\n

The Serialpreneur<\/h2>\n

#PassTheBusinessPlease. The Serialpreneur is a particular breed of entrepreneur who consistently comes up with a new idea, actualizes them, then gives them to someone else to manage\/run once they\u2019ve reached a certain level. Oprah is a great example of this. She has her line of footwear, Harpo Studios, O Magazine, and much more. She doesn\u2019t personally run all of them, but they all add to her portfolio and fall under a singular brand. It\u2019s about growth within a brand or umbrella company. Even each individual business don\u2019t deal directly with each other.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Much like the Jack-of-All Trades, you must make sure you don\u2019t do too much. In this instance, however, it\u2019s more about making sure things are viable \u2013 or they may become money pits. Opening too many businesses, scaling too fast, or having less than competent managers can quickly lead many businesses to ruin. Establishing each to a certain level of stability and success before making the transfer of operational power will be paramount.<\/p>\n

<\/div>\n

The Digital Crownpreneur<\/h2>\n

#ANewEra. What do influencers, TikTok royalty, Instagram mega-accounts, and digital-first publishers all have in common? They focus on a digital-driven business, be it streaming, social media, influencing, celebrity, or crafting products. Digital nomadism \u2013 where people live in a nomadic manner<\/a> but connect with the world through remote work \u2013 has been on the rise. Digital is the name of the game here. From small scale (an at-home Etsy business just starting out) to large scale (Cory Kenshin\u2019s<\/a> over 11 million subscribers on YouTube), this is a world built on digital innovation.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Understand the digital world<\/a> is more saturated than ever before. It\u2019s easier to start something here, but not easy to be successful. Most of those who are successful in this sphere would say it took them years to build to the level they are. In some areas \u2013 pure internet celebrity, for example \u2013 age also becomes a factor. Have a plan and execute while networking and become an expert on trends.<\/p>\n

<\/div>\n

The Corporatepreneur<\/h2>\n

#Intrapreneur. The Corporatepreneur is special. This is because they are more of an intrapreneur than an entrepreneur. They operate from lower risk options, developing businesses from the inside in executive positions and then moving on to the next opportunity. Think CEOs, CMOs, or CROs that have similar titles across different companies. They come in to fill a need, then take the company to new heights of success before going on to the next company. The Corporatepreneur is about the challenge and thrill, without the high risk of loss that comes with starting an entire business from scratch.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Don\u2019t let the thrill take over. Jumping from one company to the next is not guaranteed success, and there are ways to innovate from within a singular company. Balance your thrill-seeking with experience, knowledge, and good opportunities.<\/p>\n

<\/div>\n

The Hustlepreneur<\/h2>\n

#WhereDidTheyComeFrom. This is the dream of most small business owners. Why? Because the Hustler is an underdog success story. They may start with a small business, but their bootstraps-style work ethic enables them to grow to great success. They tend to \u201cexplode\u201d on the scene, making everyone wonder what they did, because it looks like magic. They \u201cgot their shot\u201d through marketing, strategy, timing, or placement. Whatever the apparent sorcery, their success is well earned.<\/p>\n

<\/div>\n

Tips if this is you:<\/em><\/strong> Don\u2019t give up. Take care of yourself. Things can be a struggle here, to be sure, and you can find yourself facing burnout quicker than anyone. Don’t be dissuaded from moving forward, and realize almost every business starts right here.<\/p>\n

<\/div>\n

\"entrepreneur<\/p>\n

<\/div>\n

Where to next?<\/h2>\n

No matter the sort of entrepreneur you are, it\u2019s never too late to start. Follow us through the Steer Your EntrepreneurSHIP series as we explore different aspects of business, growth, and innovation. We\u2019re in full support of seeing what your entrepreneurSHIP looks like, and we’re eager to give you all\u00a0the tools<\/a> you need along the way.<\/p>\n","protected":false},"excerpt":{"rendered":"

Understanding who you are is an important endeavor, and vitally important when it comes to the entrepreneurial spirt. What are your aspirations? Where do you begin? No matter how successful the business owner, they all started off with the same questions. To begin with: An entrepreneur is someone who creates or organizes a business while taking in a higher level of risk than they normally would. Translation: They extract value others may not see, or they go places where others are not willing to tread. By definition, an entrepreneur is a soul set on seeing things that aren\u2019t there, understanding human behavior, and willing to envision something much larger than themselves. As you can see, nowhere in the definition does it outline a level of success. Why? Because success, for the entrepreneur, is determined by them, or more pointedly, what type of entrepreneur they are. For those just starting down this path, it may be as terrifying as it is exhilarating \u2013 and if you understand what I mean, you are already on the trail to becoming an entrepreneur. But what kind of entrepreneur are you? Knowing where your strengths are will lead to greater success down the road. It also leads to a you have better understanding of your future customer journey, how employees will engage with you, and much more. This is simply the first step, and nowhere near the end of your professional development journey. So, batten down the hatches while we sail the open seas of […]<\/p>\n","protected":false},"author":71,"featured_media":49242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[75],"tags":[418,756,757,758,512,208],"yoast_head":"\nSteer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog<\/title>\n<meta name=\"description\" content=\"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog\" \/>\n<meta property=\"og:description\" content=\"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/\" \/>\n<meta property=\"og:site_name\" content=\"Sogolytics Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-05T16:11:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-06T03:13:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/12\/general-4.png\" \/>\n\t<meta property=\"og:image:width\" content=\"478\" \/>\n\t<meta property=\"og:image:height\" content=\"714\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"LeTeisha Newton\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/\",\"url\":\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/\",\"name\":\"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.sogolytics.com\/blog\/#website\"},\"datePublished\":\"2022-01-05T16:11:19+00:00\",\"dateModified\":\"2022-01-06T03:13:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.sogolytics.com\/blog\/#\/schema\/person\/d7caf33577b935208e4a708e09eebcdd\"},\"description\":\"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.sogolytics.com\/blog\/#website\",\"url\":\"https:\/\/www.sogolytics.com\/blog\/\",\"name\":\"Sogolytics Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.sogolytics.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.sogolytics.com\/blog\/#\/schema\/person\/d7caf33577b935208e4a708e09eebcdd\",\"name\":\"LeTeisha Newton\",\"description\":\"LeTeisha is all about imagination, as reflected through her eclectic involvement in fiction publishing, game streaming, and cosplaying. When she's not creating, she's working on scholastic pursuits beyond her MBA.\",\"url\":\"https:\/\/www.sogolytics.com\/blog\/author\/lnewton\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog","description":"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/","og_locale":"en_US","og_type":"article","og_title":"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog","og_description":"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.","og_url":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/","og_site_name":"Sogolytics Blog","article_published_time":"2022-01-05T16:11:19+00:00","article_modified_time":"2022-01-06T03:13:30+00:00","og_image":[{"width":478,"height":714,"url":"https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/12\/general-4.png","type":"image\/png"}],"author":"LeTeisha Newton","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/","url":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/","name":"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You? - Sogolytics Blog","isPartOf":{"@id":"https:\/\/www.sogolytics.com\/blog\/#website"},"datePublished":"2022-01-05T16:11:19+00:00","dateModified":"2022-01-06T03:13:30+00:00","author":{"@id":"https:\/\/www.sogolytics.com\/blog\/#\/schema\/person\/d7caf33577b935208e4a708e09eebcdd"},"description":"Knowing what kind of entrepreneur you are can be the difference between success or failure for any business plan. Here's why it matters and what you can do.","breadcrumb":{"@id":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.sogolytics.com\/blog\/kinds-of-entrepreneurs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Steer the EntrepreneurSHIP: What Kind of Entrepreneur Are You?"}]},{"@type":"WebSite","@id":"https:\/\/www.sogolytics.com\/blog\/#website","url":"https:\/\/www.sogolytics.com\/blog\/","name":"Sogolytics Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.sogolytics.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.sogolytics.com\/blog\/#\/schema\/person\/d7caf33577b935208e4a708e09eebcdd","name":"LeTeisha Newton","description":"LeTeisha is all about imagination, as reflected through her eclectic involvement in fiction publishing, game streaming, and cosplaying. When she's not creating, she's working on scholastic pursuits beyond her MBA.","url":"https:\/\/www.sogolytics.com\/blog\/author\/lnewton\/"}]}},"_links":{"self":[{"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/posts\/52520"}],"collection":[{"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/users\/71"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/comments?post=52520"}],"version-history":[{"count":10,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/posts\/52520\/revisions"}],"predecessor-version":[{"id":52534,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/posts\/52520\/revisions\/52534"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/media\/49242"}],"wp:attachment":[{"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/media?parent=52520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/categories?post=52520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sogolytics.com\/blog\/wp-json\/wp\/v2\/tags?post=52520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}