Types of Entrepreneurs | entrepreneur qualities | Entrepreneurship

Every entrepreneur searches for types of entrepreneurs. Which is obvious to be searched for, even I searches for it nine years ago. An entrepreneur is not a business man. In short I will tell you that a business man has his focus on money rather than innovation. Whereas successful corporate's have many things in common with one another. They are confident and optimistic. They are open to any new ideas which cross their path. Discipline, Confidence, Open mindedness, Courage, Fearless, Helpfulness etc are some of the common qualities of an entrepreneur, which we will further discuss in detail.
Qualities of an entrepreneur | entrepreneur qualities | Entrepreneurship

Origin of the word 'Entrepreneur'

The word "Entrepreneur" originates from a thirteen century French verb, "entreprendre", meaning to do 'something' or to 'undertake.' By the sixteenth century the noun form, Entrepreneur, was being used to refer to someone who undertakes a business venture.

Types of Entrepreneurs 

Based on their working relationships with the business environment they are functioning in, various types of Entrepreneurs can be found. The chief categories are these four types of Entrepreneurs, i.e. :

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  • Innovative Entrepreneurs

    This type of an entrepreneur is more interested in introducing some new ideas into the market, organisation or in the nation. They are drawn towards innovation and invest a lot of time and wealth in doing research and development. 
  • Imitating Entrepreneurs
    Imitating Entrepreneurs
    These are often disparagingly referred to as 'Copy Cats'. They observe an existing successful system and replicate it in a manner where all the deficiencies of the original business model are addressed and all its efficiencies are retained.
    These entrepreneurs helps to improve an existing products or productions process and can offer suggestion to enhance the use of better technologies. 
  • Fabian Entrepreneurs These are Entrepreneurs that are very careful in their approaches and cautions in adopting any changes. They are not prone to sudden decisions and try to shy away from any innovations or change that doesn't fit their narratives.
  • Drone Entrepreneurs These are Entrepreneurs who do not like changes. They are often regarded as the "OLD SCHOOLS". They want to do business in their own traditional or orthodox method of production and system. Such people attach pride and tradition to even outdated methods of doing business.

Entrepreneurial Motivations 

Motivation is the driving force within people that get them to act and do in the way they what to. Entrepreneurial motivations are necessary steps of getting individuals to become Entrepreneurs. Scholars have conducted various researches on Entrepreneurial motivations and have come up with several factors that motivates people to become Entrepreneurs. 

The standard issue with the concept of "Entrepreneurial Motivations" is that many scholars do not agree on all the special characteristics that the entrepreneurs are supposed to possess to function as entrepreneurs. In fact, there have been noted cases where successful entrepreneurs haven't been found possessing many or all the special characteristics identified by experts to become successful Entrepreneurs.

Hence, scholars now identify a set of several human motivations that influences the entrepreneurial process and have concluded that the entrepreneurial spirits are not solely the result of human actions. External factors, such as the economy, the availability of business capital, competitors and government regulations are also important factors in entrepreneurship.

Roles of an Entrepreneur :

Economic changes, Social Changes and Technological Changes are the major fulfillment role of and Entrepreneur. These are referred to as Behavioral Roles. All entrepreneurs have these common characteristics and decide to become an entrepreneur due to the factor or circumstance in their lives which made them think the way they do. To do their work efficiently and operate a successful business, these entrepreneurs should perform certain roles. All 10 such roles are listed below :

Figure Head Role

The Entrepreneur needs to be the head in the organisation and participate in ceremonial duties, such as representing the organisation in formal and informative events or even being the public spokesperson whenever there is press release. etc. 

Leader Role

The Entrepreneur should also act as a leader because an entrepreneur may need to bring people with dissenting views and approaches to work together as a team. So, he needs to be good with his people management and leadership skills. He has to lead the people bu hiring, firing, training and motivating his resources as and when necessary.  

Liaison Role

The Entrepreneur should also be the liaison officer for his organisation. He should be the source of link with the outside world and business house, always trying to find an opportunity of working with other big organisations. 

Monitor Role

The Entrepreneur acts as a regulatory body too; he monitors both the internal and the external environment of the business constantly. 

Information Provider and Receiver Role

The Entrepreneur should also act as the organisation representative and transmit information internally andn externally the organisation. 

Spokesman Role

The manager should also act as the spokesman of the business and transmits information internally and externally. He needs to be the source of knowledge about his company to potential investor and collaborators. 

Entrepreneurial Role

This is the basic role of the entrepreneur; he/she declares new ideas for the organisations, brainstorms it with the employees and friends and then bears the risk of any unsuccessful implementation. 

Disturbance Handler

The entrepreneur needs to act as the mediator and bring people with dissenting through to the table and get them motivated to work with together complete focus. He needs to handle all the conflicts and get the team consistent on the goal. 

Resource Allocator

The Entrepreneur needs to finds out how the available resource can be the allocated between different departments of the organisation to suit their demands and necessities. This helps them achieve the organisation goals and the objectives. 
Related : How to grow your small business with less funds and resources by Bootstrapping method. 

Negotiator Role 

The Entrepreneur must negotiate on behalf of the organisation both internally with the staffs as well as with the external investors of collaborators. At such opportunities, the Entrepreneurs need to be more focused on their role of being 'WIN-WIN' dealer.

Best books on entrepreneurship

Given below are some of the books which I have read and found it really very helpful. I will highly recommend you to read these books. For your convenience I have also provided the link from where you can easily get it. I know that your time is precious, so don't waste it and get them immediately.  
"The more you LEARN the more you EARN"
  • Rich Dad Poor Dad - By Robert Kiyosaki
    The Rich Dad poor dad was first published on April 1, 2000. It has 207 pages(Full of Financial knowledge). Sold over 32 Million Copies. It has been printed in almost 51 languages and sold in more than 109 countries.

    This book has also got some positive reviews from some Critics. The main theme of the book says, "What the Rich teaches their kids about money which the poor and the middle class do not."

    I will highly recommend you to make this your first purchase. It will teach you Financial Education.
  • The 4-Hour work a Week - By Timothy Ferris
    The book was first published in the year 2007. It consist of 308 pages. And something which I like about this book is the, "Attitude Of Tim Ferris".

    Yes, The book has very strong message. You know this is the only book which is the pride of my Book Shelf. The fist time when I read this book. I was criticizing the Author.

    But I have read this book more than 3 Times. The first time when I read this book, I felt as if Tim Ferris is telling us to get a SHORTCUT for your success.

    But NO, He is not telling us anything about shortcut. He is telling us to WORK SMARTER.

    For Example : If a guy is living in a costly town and earning about $2500/month. And there is a guy who lives in a village and he earns about $550/month.

    Who is Rich ? If your answer is the guy who earns $2500 then, I am sorry you are wrong. Rather the one who earns $550 is the richer guy.

    The answer is simple. The  one who lives in the expensive Town will spend more money in his living expenses. But the guy living in the village will not have to spend in expensive Shi*s. He is much more free to live his life in the way he wants to live.

    The 4-Hour Work a Week has taught me how to work Smarter, With high EFFICIENCY.

    Therefore, I will suggest you to get The 4-Hour work a Week to Escape the 9 to 5, Live anywhere and join the new Riches. 
  • Like a VIRGIN : The secrets they won't teach you in Business School - By Richard Branson
    This book was first published on 25th September 2012. I was recommended this book by one of my teammates.

    Richard Branson gives us his BILLION DOLLAR blueprint that has enabled him to become a BILLIONAIRE.

    This is an easy read that gets to the core of the issue quickly. It's never boring but illuminating: It shows Richard being a great person who understands his employees from top man to the person on the shop floor.

    I like his style of management and reasoning : Democratic fair and principled, but enormously fun!

    Caution : Don't be Naive.

    But reading this book won't be Disappointing. Just go for it.
  • Never get a REAL job : By Scott Gerber
    This book consist of 277 Pages(Full of Entrepreneurial Knowledge). It was first published on 2nd November 2010.

    This book provided a great insight on how the author started the business, failed, and then learning from his mistakes he succeeded.

    He also has a great insight on how the world has changed and depending on the employer to provide a paycheck for the rest of your life is a mistake you will regret. I am all for creating your own business. This author provides great insights, knowledge, and strategies when creating your business.

    However if you are planning on starting a business I do suggest you to get this book as a self help
  • The Rudest Book Ever : By Shwetabh Gangwar
    This book was published on 9th December 2019. It is one of the most latest book read by me. I will do a separate review on this book. If you want to read the Review of this book then you can subscribe to this website(At the top press the subscribe button and just give your Email.)

    But for now I will give you a very short review on it. This book explains about people. It says, "People are WEIRD".

    Personally I would name it as, "The honest book ever."

    This book is all about the fact of the life.

    Read this book everyday even if you have completed reading it. The book is intricately divided into relevant sections, parts where you need urgent help and parts which you might have learnt overtime through experiences.

    So, you can use it as a reference book and as a guide for yourself. Go for it and change your preconceived notions about yourself and the world. 
  • The $100 Startup : By Chris Guillebeau
    This book was published on 15 January 2015. You no longer need to work 9 to 5 in a big company to pay you the mortgage, send your kids to school and afford the yearly holidays.

    You can quit the rat race and start up on your own - and you don't need a MBA or a huge investment to so it. The $100 startup by Chris Guillebeau is your manual to a new way of living.

    Learn how to : Earn a good living on your own terms, when an where you want - achieve that perfect blen of passion and income to make work something you love.

    Take crucial insights from 50 ordinary people who started a business with $100 or less - spend less time working and more time living your life.

    Chris makes it crystal clear that the money you have is enough. Just start now, Don't delay.

    About the author : Chris Guillebeau is a writer, Entrepreneur, World Traveler and life-long learner. Through his blog 'The Art of Non-conformity' he helps people live unconventional lives.
    Source : Amazon
  • Smarter Faster Cheaper : David S Garland
This book was first publishes on 7th December 2010. It consist of 256 pages. 

In simple I have listed the points which I found to be very good and helpful about this book:
  1. Becoming a trusted resource
  2. Building your audience and community
  3. Helping others while helping your own business
  4. Using your content as a handshake 
  5. Creating and growing one-on-one relationships with your customers 
  6. communicating effectively online and via social media
  7. Avoiding "selling" bu educating, inspiring and entertaining instead.
  8. And one more! Inertia is a powerful force, and many professional marketers and business owners still think "more of the same" is the best way forward. Not you, thought! If you recognize the new movement in the market and promotion, discover how to make your business Smarter, Faster and Cheaper today and WIN!  
Really something which will help you gain the knowledge about the adaption of the business world. You can go for it.
  • Loosing my Virginity : By Richard Branson
    Richard Branson is unlikely any other businessman! His story is very inspiring and teaches us many things that you could definitely put into practical use.

    He goes with his instincts for pursuing any type of business and lives life to the fullest. Always tries to reach the next higher level by challenging himself in everything he does.

    Not only a good businessman but also a great philanthropist. A must read for the people who want to follow their dreams of becoming a great entrepreneur. 

    About the author : Richard Branson is the founder of Virgin Group. He was born on 18th July 1950 in Blackheath, London. He started his first business at the age of 16, it was a magazine called STUDENT.
  • The 10X Rule : By Grant Cardone

This book was published on 6th May 2011. I hope you know who is Grant Cardone. He is the one whom I have followed over years. Because,"Success Leaves Clues".

With the 10X rule you will learn to establish the amount of effort needed to guarantee success and ensure that you can continue operating at this level of your life. 

I have listed below some important points which i found to be useful in this book. 
  1. Reach goals that you previously thought were impossible.
  2. Correctly set goals and guarantee their achievements.
  3. Create unprecedented levels of happiness and satisfaction in every area of your life.
  4. Use fear as fuel to move your into action.
  5. Get everything you want and never have to settle.
  6. Dominate your competition and become a role model for success. 
For more you will have to read the book, and I strongly recommend you to read it. So just go for it, It will be worthy.

The 10 Books we have mentioned, will certainly bring a great change in your life. It will never give you overnight success but will certainly make you improve yourself in order to gain success.

To save your time I have given the link of the book above; Because Time is Money. If you buy the book from our link, it will contribute us a very small commission which will be really very helpful to run this website, Without costing you a single penny.

It took us 82 days to write this article. We have done a lot of research work in these 82 days. Whatever books and things we have suggested in this article are based on our long research. So, you can be confident enough to follow them.

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