An entrepreneur is someone who launches and runs a business. However, that is not the full description. There are other aspects in entrepreneurship, such as passion, desire to bring new ideas to life, grit, and a drive to solve a problem through products or services.
These characteristics describe what an entrepreneur is. But, what many do not know is that there are various types of entrepreneurs.
So, what type are you? Read on to find out.
Innovators are those who think of new ideas that they turn into viable businesses. These entrepreneurs are passionate. They get their motivation from the uniqueness of their idea. They find ways to market the products they offer by making sure they stand out in the market.
For hustlers, hard work is the key to success. Their dreams motivate them. They are focused. Hustler entrepreneurs usually start small and aim to become bigger in the future. In most cases, they take longer than other types when it comes to achieving their goals.
Some entrepreneurs get ideas from what is available and find ways to improve them. They tend to think about how they can make a product better to gain the upper hand against their competitors. Imitators can be seen as a mix of the Innovator and the Hustler.
Researchers take their time in gathering relevant information about an idea. Failure is not an option for them because they analyze all angles. This type of entrepreneur often starts a business only when they believe it has a high chance of succeeding. It may take longer for them to launch products or make decisions. But since they rely on data and facts, they minimize the risk of failing.
Some entrepreneurs have the money to buy promising businesses. This type of entrepreneur is called the buyer. They assess the viability of a business, acquire it, and appoint a suitable person to manage and grow the company.