Africa

Which Entrepreneur Are You?

Which Entrepreneur Are You?

Which Entrepreneur Are You?

Thinking about launching a business or almost there already? Have you ever taken time to just sit and think about what type of an entrepreneur you are? In Part One of Small Business Foundations we look at different types of entrepreneurs and ask the question, “Which one are you?”

which-entrepreneur-are-youKnowing which kind of entrepreneur you are will help pinpoint your strengths and weaknesses. This can be invaluable in the long term when you need to supplement your skills set and grow your business further.

Here are our top five types of business entrepreneur:

  1. The Innovator: A creative, problem solving entrepreneur who devises solutions to solve problems or meet needs.
  2. Opportunity Entrepreneur:Founding businesses through available tenders or franchise opportunities.
  3. Specific Skills: Skilled people leaving their corporate jobsand expanding on their skills set, i.e. taking the freelance model to a small business model.
  4. Lifestyle Entrepreneur: Often a stay at home mom (Home Executive) who starts a small business from home.
  5. Survivalist:This entrepreneur is common throughout Africa due to high unemployment and it is as it sounds; creating a small business opportunity to survive.

which-entrepreneur-are-youThe types of entrepreneurial definitions are by no means limited to our overview – there are many! For example, Michael E. Gerber in his book the “E-Myth” segments business owners into four categories: The Technician; the Manager; the Leader and the Entrepreneur. This book looks to bust the myths surrounding starting up a business.

In 1949, Clarence Danhof formulated a classification based on the psychology of how people react during the different stages of business development. Two of these that struck us as particularly interesting are:

  1. Fabian Entrepreneurs: Known for their mistrust of change and experimentation; they will resist modification and then eventually try to copy a more successful business model.
  2. Drone Entrepreneurs: These business owners are even more stubborn than their Fabian counterparts and will compromise their business (to the point of failure) before changing their business formula.

which-entrepreneur-are-youAlthough the definitions above seem dated in today’s world where agility and flexibility are so important, many entrepreneurs are still resistant to change without even knowing it. Usually it’s when you’re so passionate about something you simply can’t believe that it’s notworking the way you planned. Knowing what type of entrepreneur, you are, will help you to be on the lookout for feelings of resistance; challenge yourself, hire someone with complimentary skills andseek the advice of someone whose opinion you value.

Entrepreneur Magazine gives a further breakdown of business starters, and here’s a shrewd online quiz to guide you towards self-insight and entrepreneurial success.

Contact: Nokwazi Mzobe, Founder at Matoyana

Email: nokwazi@matoyana.co.za

Matoyana Business Solutions is a boutique business consulting company located in Johannesburg, South Africa. It is targeted at start-ups, small and medium enterprises across Africa.

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“Graphic design will save the world right after rock and roll does.” –David Carson https://t.co/UOdQ5BVsMW #InsideDesign via @InVisionApp
We need US$40B from donors & 15-20% of domestic budgets per yr to give every child the freedom+chance to learn.… https://t.co/8OfzFwiLac
Hi @larsloekke @EmmanuelMacron @alexanderdecroo @MinPres 214 million+ women & girls who want to avoid or delay preg… https://t.co/BaYs7VTrsq
@RedbullAmaphiko 2019 intake _ Applications are open & will close 30th of Nov 2018. https://t.co/pUrFByCbl8
@StandardBankZA can you live up to your service promise? Winning marketing awards but your service & delivery is qu… https://t.co/oVtEpMRaba
Thank you for reminding us to recycle and support fair trade coffee farmers, @LaughingManCo! ☕🌱https://t.co/nJJO24tyjy
.@CyrilRamaphosa @tito_mboweni Thanks for supporting menstrual health & sanitation. Pls join us at @GlblCtzn Festiv… https://t.co/tuOH2W6gNG
.@narendramodi @JPNadda @arunjaitley @umasribharti thank you for your commitment to #UHC & #WASH! Will you pledge t… https://t.co/6BKsj3bAiv
We can never know it all when it comes to conservation and saving more water!! Thank you for teaching us how to sav… https://t.co/6Ud1BJc9Qd
Access to adequate hygiene and sanitation shouldn’t have to be an impediment for any school kid! Other corporates s… https://t.co/7a3K3sRLOY
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