8 Types Of Entrepreneurs

Entrepreneurs are trailblazers – risk-takers and innovators who drive the global economy with their bold vision and creative hustle. But the truth is, not all entrepreneurs are the same. From lifestyle starters to founders of world-changing businesses, there is more than one type of entrepreneur out there. Here is a look at the eight types of entrepreneurs and the unique skills and entrepreneurial spirit they bring to the business world.

1. Lifestyle Entrepreneurs: These entrepreneurs want to be their own boss and design a lifestyle they love. They don’t necessarily care about building the next home-run business and may be content with a moderate success. Their objective is to take what they are passionate about and make a living out of it. The goal is lifestyle independence and a steady flow of income.

2. Bootstrapped Entrepreneurs: Bootstrapping is when entrepreneurs start their businesses using very little money or resources. The purpose is to get the business up and running without breaking the bank. Bootstrappers are very creative in finding and utilizing resources and always looking for ways to save money.

3. Social Entrepreneurs: Social entrepreneurs aim to use entrepreneurial practices to make a positive impact on the world and not just their own pocket. They use their business to achieve social and environmental change. Examples of social entrepreneurship range from creating non-profits to using business models for the public good, or creating high-impact startups that help solve global problems.

4. Solopreneurs: Solopreneurs are one-man operations. These entrepreneurs typically don’t want the hassle of a traditional business, so they work independently and generally don’t hire employees. Examples of solopreneurs include professional freelancers and independent contractors. Many solopreneurs are in creative fields like web development, copywriting and photography.

5. Accidental Entrepreneurs: Just like the name implies, Accidental Entrepreneurs usually don’t start out with the intention of becoming entrepreneurs. They fall into it, typically after years of mastering technical skills in their chosen field. An Accidental Entrepreneur can turn the knowledge they have into a successful business venture.

6. Serial Entrepreneurs: Serial Entrepreneurs are entrepreneurs who continually cycle in and out of start-ups. They are often looking for the next big thing and are very proficient at creating and running new businesses. Serial Entrepreneurs are always innovating and they typically have extensive networks and a wealth of knowledge to draw upon.

7. Corporate Entrepreneurs: Corporate entrepreneurs are entrepreneurs who take an existing company’s resources and use them to produce new ideas and projects. They use their creativity, skills and resources to come up with new initiatives that will benefit their employer. By doing so, they are able to stay in a job that allows them to pursue their entrepreneurial dreams without the risk.

8. Intrapreneurs: Intrapreneurs are similar to corporate entrepreneurs, but they have a bit more freedom. Instead of often having to get approval from their employer for new initiatives, intrapreneurs create their own businesses within the company. This allows them to benefit from the resources and backing of the company, while still having complete ownership of the project.

Entrepreneurs come in all shapes and sizes, and they all bring something unique to the business sphere. Whether they wanted to reap the benefits of being their own boss, bring some world-changing product or service to the marketplace, or carve their own success story, entrepreneurs can be sure that there is a type of entrepreneur that fits their needs.