An entrepreneurship is the process of creating a business from an innovative idea that solves one or several problems of a group of people. This brief definition accounts for the general concept but, in practice, there are different types of entrepreneurship.
What are the types of entrepreneurship?
Fee dough's entrepreneurship-focused guide looks at four types of entrepreneurship:
1. Small business entrepreneurship. They are businesses that are generally financed through friends, family or small businesses. These are hairdressers, supermarkets, consultants, etc.
According to the Ministry of Economy, small companies are those businesses dedicated to commerce, which have between 11 and 30 workers or generate annual sales of more than 4 million to 100 million pesos.
They are independent entities created to be profitable, whose objective is to dedicate themselves to the production, transformation and/or provision of services to satisfy certain needs.
2. Scalable entrepreneurship. They are companies that are conceived as projects that can achieve high growth and whose financing comes from a venture capitalist or individual investment company that provides financial support to new and small companies that wish to expand and that invest in a company for its experience in the field. .
According to the company Lean Startups México, the initiatives consist of four steps: detection of the problem to be solved, approach to the solution, finding an interested public and, finally, designing and creating the products and services.
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3. Entrepreneurship of large companies. They are businesses like Google, Microsoft and Samsung that develop products with the help of advanced technology to meet changing needs.
4. Social entrepreneurship. The objective of this type of enterprise is to solve social needs and problems. It can be non-profit, for-profit, or hybrid. In Mexico, the Makira company that seeks equality between men and women and the Blooders.org platform, to connect with people who need blood donors, are examples of Mexican entrepreneurship with social impact. Any type of entrepreneurship, as well as each of the different types of entrepreneurs, demands responsibilities, commitment, passion, vision, discipline, confidence, and above all, focus and persistence.
Remember that success is not guaranteed, to obtain it you have to build it little by little, even long before launching any project. Having a plan allows you to guide all the strategies to achieve the desired objectives; It is a smart initiative to develop it with a solid source of income as support, it will help to avoid setbacks.
What types of entrepreneurship are there?
Depending on personality and interests, the types of entrepreneurs can be the following:
1. Social entrepreneur
He's not looking for money or fame. It only focuses on solving a problem in your society or community through an innovative system.
The social entrepreneur wants to execute his ideas so that people can have a better quality of life anywhere in the world.
2. Specialist entrepreneur
He is a methodical and technical person. He focuses on ideas for a specific sector and seeks to generate impact at the corporate level with them.
Most of them are professionals who combine their knowledge with entrepreneurship to develop a project that generates money for them.
3. Cross-functional entrepreneur
Surely you know people who can do a thousand things at once. Well, multi-sector entrepreneurs are people who focus on several projects at the same time, without having much to do with each other.
They are able to generate progress with two or more businesses simultaneously, without losing focus on any.
4. Entrepreneurs by accident
In history we have seen that many "errors" have caused great discoveries in those responsible. Accidental entrepreneurs are those who stumble upon a random idea and identify it as a real business possibility.
Like when Zuckerberg was helping some fellow students on his frat website and turned it into what is Facebook.
5. Opportunistic entrepreneur.
We already talked about this in the types of entrepreneurship.
It is nothing more than the entrepreneur who manages to identify the opportunity and develop a solution to a specific problem.
6. Investor entrepreneur
He is the one who has the resources and looks for projects and ideas to put money on and develop them.
He is not the one who runs the business, he acts more like a capitalist partner.
7. Entrepreneur out of necessity
They are the entrepreneurs who after an unfavorable situation, such as unemployment, economic situation and others, decide that starting a business is the way to solve it.
They are the most common. Everywhere we can find people who were not satisfied with receiving a salary or could not access better salaries and decided to satisfy their needs with a business.
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8. Innovative or visionary entrepreneur
It is one that seeks new ways to solve a problem that are more accessible and economical for a sector of the population. Think long-range projects and develop plans to make them profitable for decades. After all, every entrepreneur must adapt to trends.
The trend right now is digital platforms and so that you don't get left behind, we invite you to download our Digital Entrepreneur Guide so you can learn how to invest in digital products. Wait no more!
We believe the challenges of entrepreneurship and the journey is always tough but it’s the goals one has and the organization’s intent that keep one self-driven.
Looking to start a business with perfect products and services?
Most of the individuals when starting a company always focus on their products but they never think of their brand as a whole.
There has been proven results that a visually attractive business symbols are 80% more likely to get customers’ attention, 12% more likely to interest them in the brand, 8% more likely to suggest a company is more distinctive than others in its category.
To cut a long story short, a memorable brand identity helps in making an emotional bond with the brand and develops long lasting relationship with your customers.
Create Strong and Balanced Identity
A business symbol can be an icon, plain text or include both the elements.
Christopher Ingram Forsyth County - Entrepreneurship as the process of designing, launching and running a new business or build a new buiness.
Entrepreneurship describes activities on the part of both established firms and new businesses.
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