Entrepreneurs are stealing the spotlight in the 21st century and if you’re reading this post you probably are one of them. You might be an upcoming entrepreneur with a new groundbreaking business model, an existing super-entrepreneur who has successfully launched his product and is working on the next part of the plan, or an infopreneur working on your next video, e-book, or a blog post. We’ve classified different types of entrepreneurs into 10 types in this infographic. See where do you fit in.
With a strong personal drive, these are the leaders. Innovation motivates them strongly, but a major incentive for this group is the idea of creating a legacy and doing things the other way.
Characteristics of Innovators
- They constantly look for patterns.
- They’re brilliantly lazy.
- They’re obsessive note-takers.
- They Aim for perfection but practice progress
- They embrace fear
Example of Innovators
- Bill Gates: co-founder of the Microsoft Corporation
- Larry Page: co-founder and chief executive officer of Google’s parent company, Alphabet Inc.
The enthusiastic ones, these entrepreneurs don’t wait for opportunities to fall in their lap. They know the importance of small things and make use of them effectively and efficiently. They are focused dreamers and work hard to achieve it.
Characteristics of Hustlers
- They know the importance of networking.
- They are laser-focused
- They dream ridiculously big.
- They aren’t afraid to take a risk.
- Hustlers eliminate all distractions.
- Hustlers create their own opportunities.
Example of the Hustlers
- Zig Ziglar: American author, salesman, and motivational speaker.
- Mary Kay Ash: American businesswoman and founder of Mary Kay Cosmetics, Inc.
These entrepreneurs try to play safe by copying a successful or going to be a successful business model. They iterate a certain feature or innovation in a particular product or the business model to make it more appealing and have a competitive edge over the current market. The greatest advantage of copycat entrepreneurs is that they know the opportunities and shortcomings of the business and have a proven business model to work on.
Characteristics of Imitators
- They are risk takers
- They are adamant about what they do.
- They have an ability to build upon an existing idea
- They are great researchers
- They don’t follow or do things on other people’s terms.
Examples of Imitators
- Mark Zuckerberg: co-founder, chairman and chief executive officer of Facebook.
- Oliver Samwer: Serial startup cloner.
These entrepreneurs not only believe in original ideas but also ideas which are viable. They believe in starting a foolproof business and spend a lot of time in choosing the right one.
Characteristics of Researchers
- These are the perfectionists
- They are the problem solvers
- They are critical thinkers
- They are the visionaries.
Examples of Researchers
- Jeff Bezos: founder, chairman, and chief executive officer of Amazon.com
- Larry Ellison: co-founder, executive chairman and chief technology officer of Oracle Corporation.
The Money Magnet
It’s a lot easier to make money when you start with money. This is what these entrepreneurs do. They usually don’t have much know-how of the business world and most of the work is done by the professionals appointed by them.
Characteristics of Money Magnets
- Rich Family
- Professional team
- Personal Brand
- Easy PR
Examples of Money Magnets
- Paris Hilton: American businesswoman, socialite, television and media personality, model, actress, singer, and DJ.
- Kim Kardashian: American reality television personality, socialite, actress, businesswoman, and model.
While others thrive on innovating and challenging the status quo, prodigies rely on innate intelligence and instinct as well as a higher degree of emotional stability. These entrepreneurs are blessed with inborn business sense and instinct.
Characteristics of Prodigies
- They rely on their innate qualities
- They are born innovators
- They believe in doing the things their own way.
- They have inborn business sense.
Examples of Prodigies
- Elon Musk: American business magnate, investor, engineer, and inventor
- Steve Jobs: American entrepreneur, businessman, inventor, and industrial designer.
These entrepreneurs have huge pockets and are ready to invest in any promising venture. They might already have an experience in running a successful business and look for more opportunities.
Characteristics of Buyers
- They act as a guide to new ventures
- Huge Pockets
- They look for original & different ideas
- They have a thirst for knowledge
- They have a great network
Examples of Buyers
- Warren Buffet: Chief Executive Officer and Chairman of Berkshire Hathaway
- Carl Icahn: founder and majority shareholder of Icahn Enterprises
These entrepreneurs choose to start a business on their own with no intention of ever adding staff. They are the chief cook and the sole person responsible for the fate of the business.
Characteristics of Solopreneurs
- They are passionate workaholics
- They are versatile as they handle every aspect of their business.
- They create their own schedule
- Their personal and corporate brand is interlinked
- They love adventure
Examples of Solopreneurs
- Neil Patel: A renowned SEO and digital marketing specialist.
- Brian Dean: founder of Backlinko.
The main motive of these entrepreneurs is to create a successful business and sell it for top dollar. They are the innovators who derive their business model from bigger companies and add up innovation to them.
Characteristics of Short termers
- Money minded
- Effective communication and networking skills
- They aim for big exits
Examples of Short-termers
Jan Koum & Brian Acton: Founders of WhatsApp.
These are the unconventional and challenge the existing players with their innovation and different routes. The rebels challenge the way it has always been done and does the work that matters.
Characteristics of Rebels
- They know what’s essential
- They are very tenacious and work hard and long to achieve objectives.
- They are the risk takers
- They are the challengers
Examples of Rebels
- Evan Spiegel: co-founder and CEO of the American multinational technology and social media company Snap Inc.
- Michael Dubin: founder of Dollar Shave Club
Go On, Tell Us What You Think!
Did we miss something? Come on! Tell us what you think about our article on types of entrepreneurs in the comments section.