Who Is An Entrepreneur

Picture of an entrepreneur

An entrepreneur is an initiator, a risk taker, an inventor and a driver. Someone who rather than working as an employee, founds and runs a small business, assuming all the risks and rewards and becoming an employer of labor. He/she is someone who goes into a business with the sole aim of making profit.

5 Types Of Entrepreneurs

There are are so many types of entrepreneurs and this is the reason why there is always a disagreement over the appropriate definition of who an entrepreneurs is. So of the popular types on entrepreneurship includes:

  1. Small-Scale Business

This includes and is not limited to partnerships, sole proprietors and local business owners. Basically it is any business that has less than 400 employees.

  1. Home Based Business

A home based business  could be classified under the small scale business category, but the primary factor is that it runs or is being operated from home as opposed to an office. But for the fact that a business is run from home, doesn’t mean that it does not have the potential to compete with even larger businesses. It all depends on how you manage it. It will interest you to know that many larger companies today were started from home, an example is Apple.

  1. Online Business

Online based business can be small scale, home based, or large corporations. They major thing is that, you operate the business primarily online. This includes companies like, Jumia, Amazon, Ebay or other e-commerce  businesses. Bloggers, drop ship and Etsy owners and other businesses that does majority  of its business dealings online.

  1. Inventors

Inventors are innovators. In order  for an inventor to be considered an entrepreneur, he or she will need to go beyond the idea stage to build the product and get it into the market.

  1. Serial Entrepreneur

Lots of entrepreneurs derive joy in starting and building a business or brand, but not in its continued management, so they sell it and start a new project. Such people are still considered entrepreneurs because they operate and assume every risk for the time they own the business, even though they end up selling their businesses.

Characteristics Of Successful Entrepreneurs

I have read books and blogs of experts suggesting that the entrepreneurial drive is inborn, while some others believe that anyone can become an entrepreneur. Whether a person develops it or is born to it, there are qualities an entrepreneur should exhibit, these include:

  • Passion
  • Independent mindset
  • Being optimistic
  • Self-confidence
  • Tenacity
  • Vision
  • Focus

 

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Daniel

Daniel is a Chemical Engineering graduate, his passion for research, writing and sharing ideas led to the creation of this blog.

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