After a few questions that every entrepreneur would not have problems answering, you get to know if you’re…
1. The Copycat Entrepreneur
For you, originality is an overrated term. You often try to model other successful entrepreneur completely. You believe in bringing a proven business concept to a new market.
Example: German entrepreneurs, Marc, Alexander and Oliver Samwer made billions imitating popular brands challenging the thinking that copying ideas doesn’t pay. They have imitated top web companies from Groupon to eBay. These brothers are among Europe’s most successful internet entrepreneurs.
Takeaway: Being a copycat entrepreneur isn’t always bad. It may be an overly simplistic way of finding a quick path to success. But being a copycat doesn’t come without risk. For instance, pioneers can command strong market loyalty that could be difficult for copycats to overcome.
2. The Wantrepreneur
You love to talk about organizing and managing enterprises and how to turn novel concepts into profit-making business with considerable initiative and risk. But you never actually do it.
Example: “The only thing worse than starting something and failing….is not starting something.” Seth Godin, Founder, Squido.
Takeaway: Remember, just dreaming and talking about starting your own business makes you a “wantrepreneur,” not an entrepreneur. You’ll need to get out of your comfort zone and put in your blood and sweat to make your dream venture stand on its own feet.
3. Cash flow Person
You are fanatical about the flow of cash into your company in the form of revenues, and out of the company in the form of expenses. You love to unite income stream with funding sources to ensure smooth cash flow.
Example: Entrepreneur and Philanthropist, Warren Buffett is a classic example of cash flow person. He surely knows how to manage his money and has a keen ability to see and analyze numbers. Quite naturally, Warren Buffett is wealthy, to the tune of $72.2 billion.
Takeaway: If you too are fond of numbers like Warren Buffet, it would really make sense for you to leave your temperamental attitude. Don’t be a control freak. Do communicate your vision for your company to your co-founders and employees.
4. Jack of all Trades
You possess balanced skill-mix across different fields of expertise. You love to juggle many tasks at the same time.
Example: Founder and CEO of Amazon.com, Jeff Bezos is an example of jack of all trades. He multitasked his way to success. Today, he is recognized as one of the most successful entrepreneurs and the man who revolutionized the world of e-commerce.
Takeaway: You’re an expert; you can develop a skill and build a business around that skill. But remember, you can’t do everything single-handedly. Hire professionals to take care of marketing, branding and other operational areas and focus on the core growth of your business.
5. The Innovator
For you, business is all about your novel idea and what that idea can do or change. You know how to capture upcoming trends, take advantage of emerging technologies and convert your business ideas to accelerate the pace of your business.
Example: Facebook’s founder, Mark Zuckerberg is a great example of Innovator businessperson. By the age of 24, he had dropped out of university to shape up his dream venture. Over the years, he and his company faced much criticism. But even in the midst of all this, he never let what others think drag him away from making his dream business grow and expand.
Takeaway: Remember, if you’re spending time thinking and talking about what other’s think of your business idea, not only are you wasting your time, but you are also wasting your precious energy. If you’ve already got a revolutionary idea, don’t worry if other people don’t get it. Start developing it now so that you’ll be prepared when the time is right.
6. The Opportunist
You’re an extremely positive person and love to take risks. However, this also makes you impulsive, and less focused on your business goals.
Example: Sir Richard Branson is a great example of opportunist entrepreneur. He is a self-promoter who stops at nothing to grab eyeballs to his business. He is a speculator and risk taker. With all his aspirations and his publicity gimmicks, he has been able to steer his business to success.
Takeaway: Being an opportunist is perhaps your biggest strength to survive in the ever-so-competitive market. All you need to take care of is your impulsive nature. Don’t lose your focus quickly and refrain from making snap decisions.
7. The Serial Entrepreneur
You continuously comes up with new business ideas and start new businesses. But soon you give responsibility to someone else and move on to a new idea and a new venture.
Example: One of the world’s most influential personalities, Oprah Winfrey Network is one of the best examples of serial entrepreneurs. She started her broadcasting career in high school and gradually became a media mogul making billions. Her business includes a group of companies across television, radio and magazine publishing.
Takeaway: As a serial entrepreneur, you’ve already launched at least one startup. But before you jump into the next one, you should make sure it’s something you really love and want to do. Take some time and establish yourself in the space before taking a plunge head-first.
8. The Accomplished Entrepreneur
This entrepreneur has gone through all the stages of entrepreneurship and building a business, and has reached success. They are now focused on scaling their business and leaving a legacy that extends beyond their lifetime.
The accomplished entrepreneur has figured out the things that will help you reach success. They have figured out how to connect with their customer and how to solve their biggest struggles. They will never “make it” but they are experiencing true freedom. They understand their time is their most valuable resource so they use it wisely.
Example: Bill Gates, world’s largest software business – Microsoft, is a great example of Accomplished Entrepreneur. It was Gates innate charisma and his foresightedness that impressed and encouraged PC makers like Dell and Compaq to bundle up Microsoft’s software with their hardware products making Microsoft synonymous with computer technology.
Takeaway: You already have that ‘X’ factor in you to impress and inspire anyone who comes in contact with you. All you need to do is push your limits. By always pushing yourself to deliver a little bit more than you’ve proven yourself capable of, you’ll go further, faster in your business ventures.
So, there you have it. Take the quiz and find out what type of entrepreneur you are. It might help you become a better entrepreneur, who knows?
Just so you know, I took the quiz (I started a business, but I shut it down to further my education…so yea, I’m an entrepreneur too ;)) and it says I’m an opportunist!
Yaaaaayyyyy…I dey feel like Richard Branson as I dey write right now!!!