There are (arguably) 5 types of entrepreneurs roaming the rough-and-tumble world of business at any given time.
Without further ado, here they are.
1. The consummate skeptic
This type may well find success one day, but they usually have to be dragged into it by the hair. They look at the big guys like Cuban and Musk and think “They must have had some really big breaks. No way a regular person like me can build companies like that.”
The consummate skeptic has big dreams, but until they learn to block out their previous life experiences and all the pessimism that surrounds them, they’ll never make the big choices needed to be a truly successful entrepreneur.
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.
2. The copycat
These folks are the reason why there are so many rip-offs of Gucci and Louis Vuitton purses out there. The copycat prefers to ride the coat-tails of success rather than being innovative. There’s really nothing wrong with this model either, depending on your POV. If you were surfing much back in 2007, you probably know how many berry-preneurs hit it big with their crappy blogs selling miracle weight loss junk to the poor, yet uneducated Internet consumers.
Sometimes being a copycat can get you into trouble. Like with organizations like the FTC and/or patent and copyright holders. Modeling another business’s success is a much better plan. Seeing what’s working in the marketplace and trying to niche down and put your own spin on things.
3. The researcher
This is me, sadly. Though all hope is not lost. The researcher suffers from an extreme case of paralysis analysis. They don’t jump headlong into the latest trends or fads; instead preferring to learn each and every conceivable skill needed to start and run a business from the ground up. Before an idea is even launched, they’re researching how to launch their first IPO and all the details that will be needed when that day arrives.
If this hazardly mindset continues throughout the years, the research becomes the reason behind their inaction. “I still have a few details to iron out,” etc., can be heard from the researcher. Everytime you ask them about an idea they mentioned a year ago, they’ve either moved on because the research scared them away or they’re on the cusp — almost ready to pull the trigger, just not yet.
The way out of this mindset is to realize that the Jack-of-all-trades is never master of one. Some of the most inept people become successful entrepreneurs because they don’t have a clue what they’re doing and are too stupid to know any better! Dive in and do something with all that information you’ve been gathering.
4. Yoda incarnate
“There is no try, only do.” This epic line from the Empire Strikes Back has become a favorite mantra for all entrepreneurs of today. Those who embody it don’t waste time looking for reasons why things can’t be done, they could care less what others are doing, nor do they muck around on the Internet researching all the minutia of their plans. No, the Yoda entrepreneur-type is always pushing forward. When one thing doesn’t work out, they pull another from their holster and keep on trucking until they get where they want to be in the world.
Starting and growing a business is hard, and it takes time, but those who “do” and keeping doing eventually get there. To get there, you need change your mindset from focusing on what too many people consider “reality” to what you know your reality will eventually be. Successful entrepreneurs have determination tattooed across their chest.
5. The time-tested winners
The cast of the Shark Tank are great examples of time-tested winners. Winners most reading this are no doubt familiar with. They’ve been there and done that. They may have embodied one, a few or all the above on their journey to get where they are now.
However, while their time is limited, they can now pay people to do all the crappy stuff they don’t want to do. They can focus on the people-side of business — closing deals, while finding ways to invest their money into passion projects and philanthropy instead of chasing every last dollar (Kevin O’Leary excluded, of course!)
They’ve figured it out and are hopefully devoting some of their time to mentor-ship and other forms of business education. The time-tested entrepreneur has figured out how to attain success despite the obstacles. They have figured out how to connect with their customer and how to solve their biggest struggles. They understand time is their most valuable resource so they use it wisely.
If anyone can think of any types of entrepreneurs that have been left off this list, please feel free to share your thoughts down below.
What type are you? Is it time to make a change in your outlook or the pursuits you tend to spend most of your time on?