Money and Business

What Everybody Ought To Know about Entrepreneurs

The world of business is one without assurance. If one is not careful one could lose everything they have. It is the world of the bold and the risk takers. These risk takers are known as entrepreneurs. These entrepreneurs are owners or managers who risk their own resources on a business investment or idea. They are the backbone of the business world as every large business came from one bold move by one of these entrepreneurs. In the world of entrepreneurship the risk are paramount but the rewards are also great. There are different types of entrepreneurs and you may say that each are characterized by different styles and approach into the world of business. Some of these styles vary in risk and reward factor and entirely depends on the behavior of the individual towards his investment. In  order to become a good entrepreneur you must have a knack for doing business and no less than acceptable leadership qualities. This is a world meant for dreamers, those who don’t want to be contained in the usual and often monotonous life of an employee but risks everything for a more rewarding yet risky endeavor.

Different Types of Entrepreneurs

  • Social Entrepreneur

This type of entrepreneur is one not only concerned by his own gains and profits but aims more on improving social conditions. This type usually aims at transforming environmental, social, educational and economic conditions around him. Signs of concern for global social problems like poverty and hunger usually come first in his agenda other than actual profit. He is more driven by emotional desires to achieve his goal and is prone to be engulfed by it which often times hinder good calculated judgment in his endeavor. Another problem with social entrepreneurs is the constant paradox in creating a moral standpoint in the world of business which at times requires less “desirable” tactics to become successful. They are however needed in the market in order to counteract those who do feel the need to get dirty in business. They can be good moral guardians to maintain the trust in the global market economy.

  • Serial Entrepreneur

This type of entrepreneurial attitude probably reflects the most positive outlook in their own world. A serial entrepreneur is a person who constantly cooks up new ideas and takes more risks implementing them. Creativity and perseverance is the main trait possessed by this type of entrepreneur. They often start one business after another and are not afraid to venture into more dangerous and high risk undertakings. They have more chance of failure because of this but they also reap the highest rewards if they do succeed. They don’t give up that easily either so they are likely to easily bounce back despite encountering failures.

  • Lifestyle Entrepreneur

This type of entrepreneur creates business out of his own passion. Usually we create a business in order to gain profit but lifestyle entrepreneurs use their passion and abilities in order to create a sustainable business where they can enjoy their own lifestyle. Photographers and film makers are perfect examples for this type of entrepreneurship.

Category: Business Growth
Money And Business