We are all great at different things, and because of this there are different kinds of ways that we give value. It is important to understand what kind of entrepreneur you are. Hopefully this helps you think about the direction you are heading in.
There are many ways in which we can break down the different kinds of entrepreneurs. We could say that there are differences between men and women. We could say there are differences between industries or sectors.
We have focused on breaking it down to the way in which each entrepreneur thinks about what value they give.
Here are the Four Different Types of Entrepreneurs:
As we discussed here: everything is changing all the time. And we need to find new solutions to new challenges, but not everyone is great at finding these new solutions.
There are many different types of innovators, some are technical (experts scientists, engineers, designers, artists), some are change agents who look at social and environmental challenges and finds new ways of communicating or solving those challenges, and some can look at an entire industry and realize that by focusing on one element of what they sell, or what they build, that they can change their industry (Apple chose design, Instagram chose pictures and videos, Uber chose app technology).
Yes. Apple, Instagram and Uber are companies, but they are also run by entrepreneurs, their businesses also have an entrepreneurial spirit – meaning they are finding new ways to solve challenges all the time.
When we say teachers we don’t mean school teachers.
We mean anyone who makes money guiding or enhancing the lives of others.
A teacher could be a writer, a coach, a yoga instructor, personal trainer, any expert you might hire to help you be better at something. Teachers either create tools, like apps or books, for you to use to learn, or they charge for their time – usually per hour.
The only way in which a teacher can make more money per hour is by increasing their influence or credibility. A way many do this is to study further. You would pay a person who has a doctorate in something more than you would someone with no college or university education. That doesn’t mean that you need a degree to help someone and charge for it, only that you get to charge more if you do.
The only limitation that you have as a teacher is that you only have so many hours in a day, but most teachers love what they do so much that they are happy as long as they can go to sleep at night knowing that someone else is has made progress in their life because of them.
This one is easy to explain. A doctor is a helper. A lawyer is a helper. A plumber is a helper. Helpers provide services.
Someone who studied or trained in a particular profession and are certified to do what they do. They understand that every person, in every neighbourhood or city will have the same challenges at different times of their life, and they are passionate about learning how to help those people in the way in which they have trained.
Now, you might think that not all doctors are entrepreneurs, because they work in hospitals. This is true, but only for some. Some doctors, or lawyers, or plumbers will work for a company. But many professionals are solo and have a group of customers who regularly use their services.
And, many doctors simply rent an office at hospitals. They do this because it gives them credibility.
We all need stuff. Shoes, TV’s, cars, stuff. And we want the right one for us, at the right place, that does exactly what we need, looking the way that makes us happy. Sellers make this happen.
Sellers focus on product. They source or design it, they package it, brand it and they market it.
They either sell it themselves, sometimes even from home, on the internet, in stores or they rent a store just for their brand (or brands).
The more you buy, the more they sell. Their job is to make you want it, and to beat business selling the same product by making theirs different.
Did this help you understand the different kinds of entrepreneurs?
If you have any questions, just say hi and ask us in the comments below.