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What Type Of Entrepreneur Are You?

When it comes to entrepreneurship, it’s worth noting that not all small business owners are created the same. It goes a little deeper than personality though. The type of entrepreneur you are can have an effect on how successful you are at starting a small business.

In this article, we look at several types of entrepreneur, and the pros and cons that go with that particular type. Read on, and figure out which one you are, and how to make the most of it.

The Gung Ho Enthusiast
This type of entrepreneur has an enviably enthusiastic attitude to their small business venture. The trouble is, they probably also have unrealistic expectations, and think that their new business will become the best thing since sliced bread overnight. That rarely happens.

Keep the enthusiasm – it’s what keeps many entrepreneurs going when things get tough. But be a little more realistic. It’s better to have lower expectations, and exceed them, than to aim too high, and miss your goals.

The Passionate One
These entrepreneurs are driven by one thing and one thing only – a passion for their business or industry. While they may be the best in the business at what they do, they probably lack business acumen, or even the inclination to tackle tasks like administration and finances.

Passion is great – it’ll make going to work feel like anything but a job. However, business requires you to do the tasks you don’t like so much too. Aim for balance, and you should be fine.

The Business Veteran
Business veterans are usually older entrepreneurs, who have been around the business block. While they have the skills and knowledge to make a business work, they may shy away from technology and other more modern approaches to business. That can mean a lot more intensive labor.

Using your business knowledge to build a company is a great idea. Just make sure that you combine all that skill with modern time saving methods and technologies. If you’re not comfortable with that, hire a team that are, and while you take care of the business, let them take care of the tech.

The Lone Wolf
This type of entrepreneur tries to do everything, and be everything to everyone, all by themselves. While it’s great to know every aspect of your business inside and out, no man is an island, as they say. If you try to sustain the lone wolf approach for too long, you’re heading one way: burnout.

If you can’t afford to hire staff to help you full time, find people or companies you can outsource too. This is especially true for mundane tasks – after all, your time is worth more than that isn’t it?

The Ideas Guy or Gal
Another type of entrepreneur is the one who is brilliant at coming up with excellent new ideas, but not so great at putting them into practice. Either the idea never makes it off the drawing board, or it fizzles out along the way, because they lack the skill to sell it, or run a company.

Ideas are the lifeblood of entrepreneurship. If you’re not too great at taking them from concept to product, however, enlist a partner who is. A well balanced team, made up of an idea person and a doer is the entrepreneurial dream team!

The Philanthropist
These types of entrepreneur usually spot a need for industry in their community or elsewhere, or they find a way to help communities by starting a small business of some kind.

While helping people is great, your first goal as an entrepreneur is to have a profitable business. Don’t let your need to help cloud your business sense. Find a balance between helping others and helping o grow your business, and you can achieve all of your goals.

What Kind of Entrepreneur Are You?
I’m sure there are plenty of people out there who could add a few types of entrepreneur to this list. However, the fact remains that all entrepreneurs have strengths and weaknesses, and those strengths and weaknesses will determine how your business does.

If you haven’t seen a description that suits your entrepreneurial style in this list, then why not sit down with a piece of paper, and list the areas where you are strong, and what needs work. Then, come up with ideas to get around those weaknesses, and capitalize on the strengths.

Anybody has the potential to succeed as an entrepreneur. Being honest about what you can and can’t do is the first step however, so figure out where you need a little help, and then go out there and find it. It’ll make starting a small business that succeeds a whole lot easier.

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