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Entrepreneurs Come in Different Styles

My research reveals there are different types of entrepreneurs. The type is guided by several factors:

Attitudes, stamina, knowledge base, and desire. Here is a list:

  • The Widget Maker—One-trick pony
  • The Innovator—This E likes to tinker.
  • You’re Fired —This is the reluctant E.
  • The Last Hurrah—”If not now, when?” logic
  • Buy A Job/Be Your Own boss—This E is slow to action and can be motivated by fear or external pressure, and a “I’d-better-do-something” attitude.
  • The Widget Maker
  • Episodic E
    Work on what they know within a comfort zone
    Must add business skills and hire talent

The Innovator—This E likes to tinker.
These are not people who want to open a storefront; they want to “build a better mousetrap.”
Often, they will consider selling their idea to Wal-Mart, but do not know how to protect and secure their idea with registered patents or how to attract investors.
They are focused on continuous improvement often coming from a manufacturing or systems background.
They believe “necessity-is-the-mother-of-invention,” and use their creativity to solve problems.
They are creative people because they see and love how things work.

You’re Fired —This is the reluctant E. Today’s uncertain economic and job climate can create this type of entrepreneur, because they may not have chosen to leave but they were downsized. They gather severance, savings and gumption in an attempt to duplicate the job they just lost.
Their perspective is limited because they only see a tiny part of the working business. This E requires support people to draft a written business map to keep the E on course and add talent to fill in the gaps.

Buy A Job/Be Your Own boss—This E is slow to action and can be motivated by fear or external pressure, and a “I’d-better-do-something” attitude. These are ideal franchise prospects or owners. They like a template business model. It appeals to those who want order for security, not creativity. They want the illusion of being their own boss, but, in reality, they are bound by the franchisers rules with little flexibility to improvise.
They may hire people to organize offices and billing issues so they do not get bogged down with the details. The good news for them is they can better manage their process adopting E traits. Learning offers them a better degree of competence to check the work of others they hired without being an entrepreneur.

These visionary E’s hold and share a strong mental picture that s/he translates into the support of followers. Their persuasive communication style serves them to sell the dream born out of their passion. An example of this “charismatic selling” is the rise of multi-level marketing companies since 1990 that hype success with images of wealth, fancy cars and exotic travel as payoffs. One must ask what they are really selling.

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