5 Major Types Of Entrepreneurs n3z2d

5 Major types of Entrepreneurs Idealist The idealist entrepreneur is the most common type of entrepreneur shown above. He/She likes innovation and enjoys working on something new or creative or something personally meaningful. Optimizers

Optimizer The optimizer entrepreneur comes in a close second and is content with the personal satisfaction of simply being a business owner. I think everyone would have some sort of satisfaction being a business owner but if that’s what mostly feels important then I guess you fall here.

Hard Workers The hard workers entrepreneur category includes persons who enjoy putting in long hours to build a larger more profitable business. They like the challenge it presents and of course reap the most rewards if the business turns out to be a multi-million dollar enterprise. Hard work comes with all businesses but as we now see not everyone works hard for the business to grow as this group of entrepreneurs does.

Jugglers The juggler entrepreneur likes the concept that the business gives them a chance to handle everything themselves. They are usually people with lots of energy and exist on the pressure of meeting deadlines, paying bills and of course making payroll. Who doesn’t like pressure? J Last minute deadlines are lovely! I’m sure a lot of you have ended up in a situation where the deadline is approaching quickly. Maybe you’re a juggler

Sustainers The sustainers entrepreneur category consists of people who like the thought of balancing work and a personal life. Most often they do not wish the business to grow too large where it will cut into their personal life too much.

These guys just need enough to survive. No big hopes and dreams of a multinational corporation or interviews on “The Big Idea” So there you have it five categories of entrepreneurs. I’ve been trying to figure out which category best describes me, but I think I have attributes of the first four types. I love creativity and innovation so am I an idealist? I think everyone would feel satisfaction as a business owner, a natural sense of pride would always come with entrepreneurship.

The 9 Personality Types of Entrepreneurs Starting and growing your own business requires many skills to be successful. Take a look at the business personality types and find out what you need to succeed. Are you Bill Gates, a Visionary, or an Improver like Body Shop founder, Anita Roddick? Your business personality type are the traits and characteristics of your personality that blend with the needs of the business. If you better understand your business personality, then you can give your company the best part of you. Find others to help your business in areas you aren't prepared to fulfill. There are 9 key types of personality and understanding each will help you enjoy your business more and provide your company with what it needs to grow. This entrepreneur personality profile is based on the 9-point circle of the Enneagram. Begin identifying your dominant personality theme and understand how you operate in your business.

The 9 Personality Types of Entrepreneurs 1. The Improver: If you operate your business predominately in the improver mode, you are focused on using your company as a means to improve the world. Your overarching motto is: morally correct companies will be rewarded working on a noble cause. Improvers have an unwavering ability to run their business with high integrity and ethics. Personality Alert: Be aware of your tendency to be a perfectionist and over-critical of employees and customers. Entrepreneur example: Anita Roddick, Founder of The Body Shop.

2. The Advisor: This business personality type will provide an extremely high level of assistance and advice to customers. The advisor's motto is: the customer is right and we must do everything to please them. Companies built by advisors become customer focused.

Personality Alert: Advisors can become totally focused on the needs of their business and customers that they may ignore their own needs and ultimately burn out. Entrepreneur example: John W. Nordstrom, Founder Nordstrom.

3. The Superstar: Here the business is centered around the charisma and high energy of the Superstar CEO. This personality often will cause you to build your business around your own personal brand. Personality Alert: Can be too competitive and workaholics. Entrepreneur example: Donald Trump, CEO of Trump Hotels & Casino Resorts.

4. The Artist: This business personality is the reserved but highly creative type.

Often found in businesses demanding creativity such as web design and ad agencies. As an artist type you’ll tend to build your business around the unique talents and creativities you have. Personality Alert: You may be overly sensitive to your customer’s responses even if the is constructive. Let go the negative self-image.

5. The Visionary: A business built by a Visionary will often be based on the future vision and thoughts of the founder. You will have a high degree of curiosity to understand the world around you and will set-up plans to avoid the landmines. Personality Alert: Visionaries can be too focused on the dream with little focus on reality. Action must proceed vision. Entrepreneurial example: Bill Gates, Founder of MicroSoft Inc.

6. The Analyst: If you run a business as an Analyst, your company is focus on fixing problems in a systematic way. Often the basis for science, engineering or computer firms, Analyst companies excel at problem solving. Personality Alert: Be aware of analysis paralysis. Work on trusting others. Entrepreneurial example: Intel Founder, Gordon Moore.

7. The Fireball: A business owned and operated by a Fireball is full of life, energy and optimism. Your company is life-energizing and makes customers feel the company has a get it done attitude in a fun playful manner. Personality Alert: You may over commit your teams and act to impulsively. Balance your impulsiveness with business planning.

Entrepreneurial example: Malcolm Forbes, Publisher, Forbes Magazine.

8. The Hero: You have an incredible will and ability to lead the world and your business through any challenge. You are the essence of entrepreneurship and can assemble great companies. Personality Alert: Over promising and using force full tactics to get your way will not work long term. To be successful, trust your leadership skills to help others find their way. Entrepreneurial example: Jack Welch, CEO GE.

9. The Healer: If you are a Healer, you provide nurturing and harmony to your business. You have an uncanny ability to survive and persist with an inner calm. Personality Alert: Because of your caring, healing attitude toward your business, you may avoid outside realities and use wishful thinking. Use scenario planning to prepare for turmoil. Entrepreneurial example: Ben Cohen, Co-Founder Of Ben & Jerry’s Ice Cream. Each business personality type can succeed in the business environment if you stay true to your character. Knowing firmly what your strong traits are can act as a com for your small business. If you are building a team, this insight is invaluable. For the solo business owners, understand that you may need outside help to balance your business personality

Strengths and Weaknesses of Entrepreneurs

People give a lot of respects to successful entrepreneur. Maybe people respect them because they are success in business and make a lot of money. However, I believe successful entrepreneurs have more than just making a lot of money which gaining that kind of respects from people. Other than making a lot of money, people respect and ire at successful entrepreneur simply because they can do something that ordinary people can’t do. Just like a hero, people love heroes because they do something very special that can help you and a lot of people. They are so brave to take action to help people. So if you want to be a hero, all you have to learn is how to be brave. The theory is really simple. We can use the same theory to become a successful entrepreneur. If you want to become a successful entrepreneur and have a profitable business, then you must have the following 5 strengths that ordinary people don’t have.

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Vision – Can see what people cannot see. What you have to see is the business trend. Successful Entrepreneur can see what is hot right now and what will be hot in future. Once they spot it, they will build their business or change their business strategy according to the trend. This is why there are a lot of success stories about how an entrepreneur see the opportunity, prepare for it and leverage on it to success. Creativity – The Ability to think outside the box. There are 2 reasons why you need creativity in business. First you need it to come out an idea for your business strategy such as marketing strategy or new product ideas. Second, you need it to solve the problems appear in your business every day. Creativity let you to think outside the box and make the best decision for your business. Courage – The ability to act despite fear. FEAR is one of the common factors that make people fail. People stop or procrastinate to take action once they are fear. Fear of lose, fear of rejection, fear of anything. They just stop taking action. However, successful entrepreneur is different. They have the courage to take action even though they are fear. Everybody is fear and uncertainty in their first time to do something. But this will not stop a successful entrepreneur. Self-Confidence – The ability to withstand criticism. Besides of fear, your self-doubt and outside criticism also are the blocking for you to success in business. All the successful entrepreneurs have very high confidence on their ideas, decisions and plans. They simply believe that their ideas are the best and will bring him to the success. Maybe they will receive a lot of criticism along the way, however, this doesn’t stop them from taking action. Instead, reasonable criticisms only make their action and decision better.

Self-Control– The ability to control our emotion and desire. All the successful entrepreneurs are great in self-control and self-

discipline. All of us have emotion and desire. All of us are lazy and impatient. However, successful entrepreneurs are different because they can control their emotion and desire to take action. Maybe they are lazy, but laziness cannot block them instead they leverage on it to take more actions so that they can succeed and become lazy after that.

How to overcome weaknesses? As we’ve seen in our discussion so far, poor or improper delegation of authority.Delegation has a potential for management failure! However, the risk of failure is also present whenever managers plan, organize, motivate, and control. So, in this sense, delegation is simply one of several high-risk activities in any management system can result in confusion and indecision on the part of subordinates. The end

result can be a breakdown in the whole system of management. Therefore, a few words of caution are in order at this point: To overcome weaknesses in delegation, the following guides can be used:

Define assignments and delegate authority specifically in the light of results expected. For example, a production manager has a specific area of responsibility, and has been given the necessary authority to accomplish the production goals.

Select the best subordinate in light of the job to be done. This is primarily the managerial responsibility of selecting employees. In of delegation, however, it’s necessary to consider, because the amount of discretion given to a subordinate depends to a large degree on the subordinate’s personal qualifications.

Maintain open lines of communication. When a superior delegates authority to a subordinate, it doesn’t mean that communication should cease between them. It’s in the nature of business to be flexible. Because of this, it’s important to continually review delegated authority in light of any changes that affect the organization. Lack of communication can leave both the superior and subordinate in a state of confusion.

Establish proper controls. Even though a superior has delegated authority to a subordinate, he or she is still ultimately responsible for the subordinate’s activity. In order to ensure understanding the superior should use a technique such as a weekly performance report to keep track of the department’s activities. The technique used, however, shouldn’t hinder the actions of the subordinates

Use rewards. If subordinates have effectively used the authority delegated to them, they should be justly rewarded. Many times, this reward is financial, but it also can be in the form of additional authority in the present position, or a promotion with greater responsibility. Use of these guidelines can help overcome many of the weaknesses that exist in the delegation of authority. Proper delegation of authority will allow the enterprise to grow and function. If it isn’t done properly, poor management is the result. It’s important for managers to understand these basic concepts in order to be effective managers. As you proceed, you’ll study other important management concepts, but none is more important than the concept of leadership. This quality in managers is so encoming that many people consider it to be the essence of management.