Classification of Entrepreneurs

Classification of Entrepreneurs

An entrepreneur is the starting point in any business. He is known to be the one who is the most valuable asset or valuable human resource for a business. The skills of an entrepreneur are the one which is used to make a business reach new heights and grow in every possible way. An entrepreneur is the one who is held responsible for any loss or appreciated for any profit in the business.

An entrepreneur is someone who owns, operates, and assumes the risk in any business venture. An entrepreneur is the one who can identify the risks in a business and helps in finding out the possible solutions for it. An entrepreneur is a foremost asset to a business who finds out the most profitable solution for a big problem.

As an entrepreneur invests, he is very ambitious about the growth of their business. An entrepreneur takes risks, so he is very keen to know whether the decision of taking risks was feasible or not.

Entrepreneurs are classified into many different subcategories.

The overall economic growth of the economy depends on the nature of the entrepreneur. An entrepreneur should be intelligent, attentive, a good listener, innovative, skillful enough to help the economy grow healthily.

The business environment gets underdeveloped if the business owner is shy or introverted as it restricts business growth. Entrepreneurs should be skillful and able to solve the problems of business healthily.

The entrepreneur can be classified into different categories:

Let’s discuss them one-by-one:

  1. Innovating Entrepreneurs

Innovative entrepreneurs are those businessmen who are slightly aggressive. They are more particular about their work and are more focused on getting the work done on time and in the perfect sense.

Moreover, these entrepreneurs are capable of developing new and fine versions of the already existing technologies.

  1. Imitating Entrepreneurs

Imitating Entrepreneurs are those business persons who only imitate or adopt the changes done into the technology by the existing business persons. They neither innovate their technology nor make innovations in the existing ones; they only adopt the technology and implement it in their business.

  1. Fabian Entrepreneurs

Fabian entrepreneurs are those entrepreneurs who are neither interested in implementing new technologies nor are ready to leave the old technologies. They are lethargic and are not interested in taking risks in business. They just want to keep their business moving in the same momentum in which it is moving for years.

Well, such an attitude leads to less or no growth in business activities. The other name of the business is growing, for which efforts should continuously be made.

  1. Drone Entrepreneurs

Drone entrepreneurs are those entrepreneurs who are least interested in imitating new technologies and also are not interested in giving up on the traditional technology on which they are working on huge losses. Such entrepreneurs keep on working on the traditional technology even after bearing a huge number of losses. These entrepreneurs are responsible themselves because they keep on sticking to the old technology instead of opting for new ones.

Outdated technologies would give you nothing but unbearable losses to your business. Hence, it is highly recommended to shift from old technology to new technology so that your business grows and you earn unimaginable profits.

  1. Technical Entrepreneur

The other name of a technology entrepreneur is Technocrat. A technical entrepreneur is one who has the technical knowledge and makes use of it to make the business grow and reach new heights. A technical engineer analyzes various prospects and implements new technology for the business. He concentrates more on the production activities.

  1. Non-Technical Entrepreneur

As the technical entrepreneur concentrates more on the production activities, a non-technical entrepreneur concentrates mainly on the marketing activities. He is the one who tries to find out innovations and make efforts to come up with new strategies for marketing the goods and services.

  1. Pure Entrepreneur

Some psychological and economic factors make an entrepreneur motivated towards achieving huge goals or objectives. The urge to make money, the thirst to succeed, risk-taking abilities, the desire to get recognized are some of the key factors which motivate a person to be a pure entrepreneur.

  1. Induced Entrepreneur

An induced entrepreneur is the one who gets the assistance of the government to perform various tasks. The assistance provides by the government sector, and the various types of subsidies provided are the reason behind the success of induced entrepreneurs.

The induced entrepreneur can consult the government officials before the commencement of any crucial business proposal.

  1. Motivated Entrepreneur

A motivated entrepreneur is one who has a high degree of motivation within himself. He is highly motivated to complete the assigned tasks on time. Seeing him, the other teammates are also self-motivated and develop an urge to complete the given tasks on time.

A motivated entrepreneur is an asset for the business because he is the one who spreads positive vibes in the company. He motivates those who have a lethargic attitude towards the work or are demotivated completely.

Such people are an asset to the company.

  1. Spontaneous Entrepreneur

Spontaneous entrepreneurs are the one who has a lot of talent within themselves. They have pure and natural talent because of which they are fit for this job. They have a high degree of self-confidence, which gives a boost to their personality and makes them fit for this job.

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