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5 Types of Entrepreneurs Which You Should Know

Vikram Brahma is a Digitalpreneur, Author, Blogger, Writer, & YouTuber. He loves to write content & spend time working from home.

Types of entrepreneurs

Types of entrepreneurs

Introduction

I love the word entrepreneur and I have been writing many articles related to this topic alone. I believe such people can literarily solve many problems related to society especially job creations, money and employment.

In this article, we are going to see how individuals grow and create an organization after being started as an entrepreneur. We will see different types of entrepreneurs.

In fact, under this topic, I will love to include information related to digital entrepreneurs. But this article is about all of them and we will learn about many other types of entrepreneurs. This is going to an epic article as the topic is very close to my heart. So, let’s begin.

Who Are Entrepreneurs?
Well, in simple words entrepreneurs are those who set up his/her own business and works independently and can easily make his own decisions. In the beginning, he will take care of all his finances. So let’s see what are the different kinds of entrepreneurs around us.

Small business entrepreneurs

Small business entrepreneurs

Small Business Entrepreneurs

Whether you are in a metro city or in a small town you will always find many small business owners. Look around you, and I am sure you can see many small shopkeepers/grocery stores. Yes, they are the example of our first kind of entrepreneurs. In most countries usually, businesses heavily rely on them.

They will normally open only one branch or one shop or one office and they will work from one place only. Their main objective is to have their own business and feed their family. And normally you will find business affairs are being taken care of by family members.

This is the best way to get started and grow in life. To start such a business may not require a huge sum of investment yet it differs from business to business. And people generally start such business by using their saving or by taking loans from relatives or bank.

Scalable Business Entrepreneurs

There are some people in business who like to multiple their growth and revenue. They dream of having a mid-size business and wanted to grow their operation bigger. But they also start with one branch or one office then they open the next branch, maybe within the same city or maybe in other cities.

There are many examples which you can see around you. Like someone having multiple chains of restaurants. Yes, this is possible for someone who thinks big and executes it.

This is absolutely possible in today’s time. But before they expand their business they make sure their business is both sustainable and profitable.
To raise funds they may take the help of venture capitals, raise capital from the market, register their company and elect the board of members.

Large Business Entrepreneurs

There is a thick line between large business and scalable business entrepreneurs. In simple words, in this case, the company will expand rapidly and grow faster than ever before.

This may happen due to a new product launch or maybe due to better and faster services. Company will grow so much that they will ultimately make millions and millions in profit. For example, in the late 1980s, IBM decided to enter into a new personal computer division and within the launch of one year, they sold a million units. And this become one of the most profitable strategies to grow revenue.

Because of huge success like this company itself becomes a billion-dollar industry. More than normal entrepreneurs they become the industry leaders and control the major pie of the market. This will be the ultimate dream of many entrepreneurs.

Social Entrepreneurs

Now there are many entrepreneurs who are known as social entrepreneurs. Their main objective is to help the society but by making self-reliant. They are more interested in the development of individuals.

I am sure you might have heard about Professor Muhammad Yunus who established the Grameen Bank in Bangladesh. For his effort and dedication, he also received the Nobel Peace Prize in 2006. Although he was a professor by profession, he realised that he needs to do something for society. He is also known as the banker of the poor.

He started his movement by providing microlending to poor people and by teaching them a few sound financial principles so they could help themselves. Such kind of entrepreneurs is hard to find nowadays. But yes they do exist. They totally dedicate their life to help others in the best possible manner.

Digital entrepreneurs

Digital entrepreneurs

Digital Entrepreneurs

I cannot complete this article without mentioning the lifestyle of digital entrepreneurs. They are a new breed of bosses, who like to work for themselves but only by using the internet and laptop. They are examples of living the digital lifestyle.

Do you know nowadays you can work from home or from anywhere and still run your online business? Yes, this is possible and many people are actually loving this way of working. Now, they can become a Blogger, YouTuber, Writer, Online Coach, eCommerce expert, etc. and can make money without leaving their home.

The best part is just like any other skills digital marketing skills also people can learn. It takes time to understand the fundamentals and apply them in real-time. Yes, it can be done and I am also making money simply by working from home. But this is not a get rich quick scheme. You need to put the hard work and need to have discipline in life.

Conclusion

I hope you have enjoyed the article. If you like my article, let me know which category of entrepreneurs do you like and why so? I being a digital entrepreneur can vouch for this system. And will definitely like to ask anyone to try at least three to four times as it takes time to understand fundamentals. But whatever way you follow they all need to be passionate about whatever they do.


This content reflects the personal opinions of the author. It is accurate and true to the best of the author’s knowledge and should not be substituted for impartial fact or advice in legal, political, or personal matters.

© 2020 Vikram Brahma

Comments

Vikram Brahma (author) from Assam, India on December 01, 2020:

Yes, my friend, you are right and I totally agree with your opinion. We can create multiple careers through the internet.

Liz Westwood from UK on December 01, 2020:

These days there seems to be more scope for entrepreneurs via the internet.

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