Friday, December 31, 2010

SME - types of entrepreneur

Research indicates a number of different types of entrepreneur. These include survivalist entrepreneur; salary replacement entrepreneur; lifestyle entrepreneur, small business manager, franchisee, copycat entrepreneur, franchisor, inventrepreneurs, serial entrepreneur, portfolio entrepreneur, angel funder and venture capitalist.

However these can be grouped into three (3) groups of people who act in a similar manner.

The first is the survivalist. The survivalist is often associated with informal sector survivalist businesses, but could also include the formal sector person forced through circumstances into self employment. This could be someone who has been retrenched.

The second group is the lifestyle entrepreneur. They vary in a number of ways, but generally are the same “animal”. For some the “lifestyle” is about working the hours they want, or the type of business (maybe a hobby) or about maintaining a lifestyle which includes holidays, and toys such as motorbikes, cars, caravans, boats etc. All of them have clearly defined “rules” on how they run their business. These rules are written in stone most of the time. Do not ask these entrepreneurs to work late or weekends.

The third group are the high growth entrepreneurs. These are the entrepreneurs who generate large profits quickly, normally create the bulk of new jobs in an economy, and are able to retire young. Notice I said “able to”; many do not and start the next business soon after they harvest from their business.

Where do you fit in?


Nhlakanipho Sangweni said...

Still stuck somewhere before the Entrepreneurial process. However, the ultimate objective is the High Growth entrepreneur.

Anonymous said...

I'm doing a project on entrepreneurs and was wondering where you got so many types of entrepreneurs from?
I like this blog and will carry on looking at this.

Dr Rob Smorfitt said...

Researchers around the world analyse matters and then attempt to categorise them. I try to use the categories other researchers have created so that the subject builds on itself. I try not invent my own stuff but rather to build on other material.