The 5 Types of Entrepreneurs

The 5 Types of Entrepreneurs
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As entrepreneurs, each of us is different and unique. The one common element we all share is the desire to create freedom in our “work” and life through entrepreneurship. We live in a time ripe with opportunities to create businesses that help us live the lives we want to live.

Still, there are some entrepreneurs reading this that are stuck in their business and their life. You know who you are. You can’t figure out why you’re not making progress or what to do next in your business. 

The “missing link” could be the type of entrepreneur you are. Understanding your motivation as an entrepreneur can be the key to growing your business and reaching whatever milestone of success you’re striving to achieve.

Here are five types of entrepreneurs. Get honest about which one you are and which one you want to be.

Related: 5 Business Lessons I Learned From Starting a Company

1. The skeptical entrepreneur

This entrepreneur sees the success of others and immediately starts to question it. They examine that person's business and looks for the “lucky” breaks, or inheritance they think that successful entrepreneur received.

Maybe it’s the news, or previous life experiences, but they are skeptical of success and don’t believe it’s possible without all the stars falling into place.

When you can’t see or believe success is possible, you’ll never get to a place in your mind that allows you to take action. You will stay stuck; you’ll make every excuse and believe it because of your skeptical mindset. This is the scariest type of entrepreneur.

Related: 5 Ways to Increase the Odds of Your Content Going Viral

2. The copycat entrepreneur

This entrepreneur sees the success of others and tries to copy them exactly. Their website is the same, their business cards are the same, and the way they present themself is the carbon copy of a leader in their industry. Take Pat Flynn of the popular blog Smart Passive Income. Since Pat became popular, there has been a whole wave of people that copy him line-for-line.

There is nothing wrong with modeling success—it’s actually very smart. There is a fine line, however, between modeling and copying. Modeling success means you see what works and figure out how to make it relevant to your business, and who you are as a person. If you have been copying, get honest and switch from copying to modeling.

3. The research entrepreneur

This entrepreneur loves to learn. They research every possible scenario and outcome for strategies to start or grow a business. There is nothing wrong with learning, but when that’s all you do, it becomes a problem. The research ends up becoming an excuse for not taking action.

While you should always strive to learn what works, and what could help your business, you have to implement. Most entrepreneurs know more than they think; too many entrepreneurs fall victim to information overload. The key to success is learning and then implementing. The implementing has to happen.

Related:5 Lies Entrepreneurs Need to Stop Believing 

4. The determined entrepreneur

This entrepreneur hasn’t “made it” but they will, no matter what. They see the value in entrepreneurship, they see that success is possible without copying, and they do everything they can to start or grow their business.

Starting and growing a business is hard, and it takes time, but there is proof that it’s possible to thrive. To get there, you need change your mindset from focusing on what too many people consider “reality” to what you know your reality can be. Successful entrepreneurs have determination as their backstory.

5. The accomplished entrepreneur

This entrepreneur has gone through all the stages of entrepreneurship and building a business, and has reached success. They are now focused on scaling their business and leaving a legacy that extends beyond their lifetime.

The accomplished entrepreneur has figured out the things that will help you reach success. They have figured out how to connect with their customer and how to solve their biggest struggles. They will never “make it” but they are experiencing true freedom. They understand their time is their most valuable resource so they use it wisely.

What type of entrepreneur are you? Face the truth and make a change if it needs to be made. Success will be different for each of us, but if you’re stuck, it could be because you’re not the type of entrepreneur you should and want to be.

Success takes time. Growing a business could take a lot of your life, but the freedom entrepreneurship provides is worth the wait. It all starts with deciding what your goals are. Decide what you want from your business and how that fits into your life. 

Related: 7 Things No One Told Me About Being an Entrepreneur