Mar 23, 2010

The 9 Forms of Entrepreneurship

The word "Entrepreneur" conjures up many images, beliefs, and stereotypes. For some, the word points them to determined, ruthless businessmen like Donald Trump or Carlos Slim. For others, it might mean free-spirited, people-focussed folks like Oprah Winfrey or Richard Branson. Perhaps we're thinking of the introverted geeks like Bill Gates or Steve Jobs. Or maybe the humble and reserved Warren Buffet.

They're all great entrepreneurs in their own right.

But entrepreneurship is much more than personality tendencies, though our approaches and behaviors do play a major role in determining the type of industry, business, or business model, one is most likely to succeed in.

There are at least 9 types of entrepreneurs - and while some may disagree with the term and how it's used here, in some small way each of the following 9 carry a little bit of that thing we call "entrepreneur" in them.

1. Small Business Owners/Self-Employed - The most basic unit of entrepreneurship is the classic mom-and-pop shop. These guys wear all the hats and do multiple jobs to keep their typically-small operation afloat. While I'm sure most doctors and attorneys would resent being labeled as such, most of them are operators in their own small businesses. While there are exceptions, almost every successful business starts out at this fundamental, basic level.

2. Small Team Developers- For those who succeed in expanding their small mom-and-pop operations beyond themselves as owner-operators, the work turns to training and developing others. Team building becomes the next phase, and those who succeed here know the value of delegation, accountability, and in many cases, dealing with the people-drama issues of all sorts.

3. Innovators & Inventors - For those who venture out into new and uncharted territory, there's the innovator or inventor. Think of innovators as those who create new business models, which typically have a far higher likelihood of success than those who simply come up with a new invention. There are millions of new inventions and patents that are developed each year, and only 1 out of 500 of those will actually pay for the development costs, let alone make a profit. However, those who invent new business models, or what W. Chan Kim would call "

Blue Ocean Strategies

" will increase their likelihood of success in business significantly.

4. Brand Expanders - These business types use joint-ventures, strategic business relationships, and in many cases, a classical franchise model to expand their brand or system. Those who do well with these types of businesses are typically marketing-driven, strategic, big-picture thinkers.

5. Economies of Scalers - These types do well in manufacturing or in creating efficiencies on a large scale. Those capable of getting inputs in bulk for low cost, while creating outputs efficiently and profitably as the market demands do well here. These types of businesses require strict attention to detail.

6. Capital Switchboarders - These types are capable of bringing together and integrating money with opportunities. Like those of the Economies of Scalers, Capital Switchboards require strict attention to detail, as leverage is nearly always employed in sustaining this type of business. Banks, insurance companies, or even venture capital groups are all examples of capital switchboards.

7. Acquirers - These types pursue the course of buying other businesses, typically as a means of diversification from a core-business. They buy their way into other industries, shrinking the risk and learning curve that would normally be required to start a business from scratch. Buying into unfamiliar territory posses many risks however - the most notable being the lack of focus such a course engenders.

8. Conglomerators - These types buy into a diverse portfolio of businesses. Unlike the Acquirers, however, they rely more upon the management of the business remaining intact. They're more receptive to the idea of being a minority owner, buying the idea that owning 5 percent of a great company is better than owning 100 percent of a mediocre company.

9. Buy-Fix-Sell Dealers - These are the classic takeover artists. Whether it's a takeover of a publicly traded company to clean house of entrenched management, or a bankrupt private company in need of restructuring to survive, these types get in for cheap, do their work, and if they're successful, get out at a profit.

In determining the type of business you wish to build or buy, keep in mind the 9 types of approches used by successful enterprenuers.


  1. Howdy! I know this is kind of off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot! professor anokhin kent state

  2. There is the new site of the Entrepreneurship where you can find the nine forms for it. Get the adventure through this pattern and collect the best life of the style. With cheap essay writing services you will find the new dashboard for your life.

  3. The information you have posted is very useful. The sites you have referred was good. Thanks for sharing... how to become self employed

  4. I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article... entrepreneurship

  5. The content is utmost interesting! I have completely enjoyed reading your points and have come to the conclusion that you are right about many of them. You are great, and your efforts are outstanding! how-to-earn-money-from-swagbucks

  6. Control - For a lot of business owners the sense of security that comes with the ability to control your own work is a major reason to become an entrepreneur. start a new business

  7. Optimism is the characteristic that effective entrepreneurs share practically speaking. They accept that later on their thoughts will be effective organizations. They have no space for questioning their business thoughts. Leadgeneratie

  8. Composing a business plan is an unpredictable matter and best attempted with an expert, for example, The Business Master us They additionally produce Business Model Materials and Pitch Decks. Europa-Road nemzetközi konténeres szállítmányozás

  9. Hey dude, what kind of wordpress theme are you using? i want it to use on my blog too .     Mati Marroni

  10. Passion: Whatever the business thought they concoct, they have enthusiasm for it. Enthusiasm keeps fruitful entrepreneurs passing by being engaged. Direct marketing

  11. Effective entrepreneurs have a typical quality of changing their entrepreneurship dares to fluctuating monetary conditions. "The entrepreneur consistently looks for change, reacts to it, and adventures it as a chance By Peter Drucker."
    Resume Builder

  12. These associations separated from setting out work open doors straightforwardly or by implication they likewise serve individuals differently. Entrepreneurs are seen as individuals who either make new items or improve the current items in order to tackle issues confronting individuals. digital

  13. Try not to make them "walk the gauntlet" past associates. You can utilize your office, or a storage room with great lighting. Simply be certain it is some place agreeable. túlméretes szállítás Europa-Road Kft.

  14. It is more with regards to how you approach your job than the real obligations and errand you perform at work. The mystery is to comprehend the critical elements of your special formula for job fulfillment.
    browse around this site

  15. As the holder of a UAE business permit, you additionally have the ability to support others for their visa as well. The quantity of visas you can apply for will rely upon the size of your organization or business, the sort of organization you pick, and your income. Bookkeeper Markham