Types of Entrepreneurs

I very often get emailed or asked this question. “What business do you recommend that I start or get into?” I often reply by asking the sender to tell me more about themselves; what is it they are passionate about, or backgrounds in general. I have noticed that very few people actually really know what they want or what they are passionate about.

I realized that it wasn’t so much that they didn’t know what they were passionate about but more of that they did not believe that it can potentially become a business or how to make it into one.

I want to share with you an interesting piece on the different types of an entrepreneur. This was written by columnist Rhonda Abrams way back in 2002. As a backgrounder, Rhonda is a leading small business columnist and author in the United States. Her column is widely acknowledged to be one of the best read and most popular small business columns.

Rhonda points out that being passionate about something does not necessarily lead you immediately into becoming an entrepreneur. It is identifying what or how you go about you passion that will allow you to become an entrepreneur. She lists down several types of entrepreneurs as a way of identifying your individual path to entrepreneurship. I would like to share with you excerpts of the different types from her column:

Advisor - Lots of people would like to be paid just for giving advice; usually it takes a great deal of experience or education to be able to do so. Some kinds of advisors include attorneys, accountants, and financial planners. But many of the best salespeople also consider themselves -- and are considered by their customers -- as advisors. For instance, I look to my insurance salesperson to responsibly guide me in my choice and amount of coverage.

Broker -   A "broker" is a go-between -- someone who helps others find the products or services they need. They may charge a percentage of the sales price of the item brokered, a flat fee, or an hourly fee. Real estate agents are perhaps the best-known type of broker, but you could be a broker for almost any kind of product or service (except those with very narrow profit margins). You could, for instance, be an auto, mortgage, business, even wine broker. If you've got a strong area of expertise or interest -- and enjoy shopping -- being a broker is a low-cost way to go into business.

Builder. - One of the largest segments of entrepreneurs are self-employed contractors -- carpenters, electricians, plumbers, painters, etc. Whether you're building a whole housing development, or laying the floor in one apartment, if you enjoy seeing something be created from nothing and you have the necessary skills, being a builder may be for you.

Caretaker - Our society has a great need to have people and things taken care of, maintained, and assisted. That opens up lots of opportunities for those entrepreneurs who are patient and nurturing. If you're a person who can be consistent over time and see yourself as a helping personality, you may be the caretaking entrepreneurial type.

Creator - You may be a person with a vision -- whether it's in fashion, graphics, technology, or in any area of product or service. Creators include graphic or fashion designers, inventors, business builders, etc. Creators often need to team up with other entrepreneurs who are strong in sales or operations to help make their vision a financially viable reality.

Owner - If you've got money to invest, you might be able to put your capital to work for you. Whether you invest in stocks, real estate, vending machines, businesses, etc., being an active "owner" enables you to leverage your money into additional income without having to show up to work every day.

Seller - If you're good at sales, you should never have to go hungry. Great salespeople are always in demand. Many of them are self-employed, typically working on commission. If you're good at selling, and willing to work hard, you can earn a lot of money from sales.”

Do you agree with Rhonda? Do you see yourself as one of those personality types? Or do you have a more unique type? I think you owe it to yourself to find out if you too can turn your passion into a business.

I want to greet my dad, Ben, as well as other fathers a Happy Fathers Day. One of the supreme ironies of life is that the older we get, the smarter our fathers now begin to look. Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

For comments, suggestions or stories that you want to share, email me at [email protected] , or visit www.stirspecialist.blogspot.com