This world has raised many successful entrepreneurs, they are people who learn and observed the changing aptitudes of the world, well, there is a mystery behind the mind of an entrepreneur which people wanna know.
Before getting to the mind of an entrepreneur, we should first know about the entrepreneur, like who are they? what do they do? how do they do?
Who are Entrepreneurs?
Entrepreneurs are persons who are willing to take any risk to create or start a new business, they don’t worry about loss, because they believe that high risks lead to high rewards.
There are different types of entrepreneurs that help in understanding the entrepreneur mind, let’s discuss them.
Types of an Entrepreneur
1. Innovative Entrepreneur
Entrepreneurs are innovators, it is one of the major types of entrepreneurs, innovate entrepreneurs think about an entirely new idea and turn it into reality regardless of thinking about loss, they are willing to take a full risk ride.
They are fully determined and passionate about their goals, they drive different strategies to introduce their products to the market, their effort and hard work towards their goal are what makes them stand out from the crowd.
No doubt innovative entrepreneur needs a large capital to turn an idea into reality, they make rules to rule their business, sometimes the period for their success is longer than usual.
2. Spiritual Entrepreneur
A spiritual entrepreneur works for the humanity of mankind, they consider themselves as an important part of God’s creation, therefore, they devote their lives for the betterment of this world.
A spiritual entrepreneur like Hafiz Nayyar Khurshid, they learn and practice to let their ego go for the wellbeing of themselves and thus humanity.
For them, money is not always a top priority, they don’t start or create any business to become rich instead they start a business to benefit people because they consider themselves as an example of God’s love.
They do not just create products or services to benefit people they also motivate them to think like a leader and to step out of the box and start something on their own by putting people first before profit.
Now if you think you have all such qualities and you wanna become a spiritual entrepreneur in actuality, start asking yourself few questions, like, how can you change the lives of people by your creation?
3. Researcher Entrepreneur
Researcher entrepreneurs are those who take a lot of time in researching all odds about their idea, they gather all the relevant information including pros and cons about their business idea before actually implementing the idea.
They perform deep analysis about their business idea from every angle possible because they believe that their business will stand with high chances of success.
Researcher entrepreneurs believe more in facts and figures and it has been seen that they take a lot of time to actually start and introduce their venture to the market.
They move slowly because they write deep and thorough business and financial plans, and thus eventually they eliminate the chances of failures.
4. Hustler Entrepreneur
Hustler entrepreneurs are not like innovative ones, they put a lot of hard work into giving their dream a reality perspective.
Hustler entrepreneurs take small steps towards success, they often start with a small scale business and work with extremely hard work to make it a success, they generate large capital through their small business and spend that in taking a high ride of success.
They don’t go for any shortcut to achieve success, instead, they get rid of all the external and internal distractions, and keep their soul and mind entirely focused on their business.
They don’t give up no matter what circumstances they are in, they work by putting their hands even in the dirt but most of the time their team members lead them down because they don’t work with the same strength and courage as hustler entrepreneurs.
5. Imitator Entrepreneur
Unlike other entrepreneurs, imitators are not likely to think about their certain idea, they used to copy a specific business idea and then work on it to improve it.
They are in a hustle to make a product or business better so that they can gain an upper hand in the market and could earn good revenue, but Imitators always have to catch up with the original ideas.
They think that if they refine a business idea they can set a benchmark of performance and they will eliminate all the mistakes and it will be less stressful than planting an entire business on their own.
6. Buyer Entrepreneur
As obvious from the name itself, buyer entrepreneurs are those who have a large pocket and are already running businesses successfully, but they want to expand their business profile.
So, what they do for that is they buy an already founded business that has a solid base to run, and they analyze its viability, and they find the best person to run and grow that business.
All these types will help us understand the mind of an entrepreneur, though an entrepreneur would most likely be interested in personal fulfillment, they start a business not solely for revenue purposes but what prioritize them is their fulfillment.
The Entrepreneur Mind
Do you wanna know about the mind of an entrepreneur or just wanna think like them? If yes, then this section is extremely helpful for you.
Most importantly you need to understand this, they are not born as an entrepreneur, they work hard to become one, they step out of their comfort zones and are willing to put risk above every chance of success.
They think of themselves as if they are born to do or achieve something big, they are constantly working to harness their mindsets to become an entrepreneur.
Their mindset is about:
- Think above the ordinary to overcome all the challenges.
- Always take responsibility for your actions.
- Always try to learn something new.
- Don’t act bossy but learn from mistakes.
- Implement ideas into reality.
- Tranquility despite failure.
- Always willing to take the risk.
Now, you can understand the mind of an entrepreneur and if you want to become one, think like one, change your mindset, and be decisive about your work.
Well, some people got themselves in a dilemma about entrepreneur and intrapreneur, they often interrelate these two terms, but to make the concept clear let’s jump into these terms.
Entrepreneur Vs. Intrapreneur
Try to get this, an entrepreneur is the owner of a company, they have full control over their company, and they take full responsibility no matter what happens.
On the other hand, an intrapreneur just behaves like an entrepreneur he leads the company and is responsible for all the innovation within the organization but if anything goes wrong the intrapreneur is not likely to be charge or question about that.
Well, you can also understand the concept of an intrapreneur as a manager of a company who is responsible for all the operations, development, and marketing.
Advantages of becoming an entrepreneur
- They tend to enjoy unexpected and thrilling experiences
- They have great self-confidence
- They build leadership qualities in them
- They build a career that benefits according to their values
- They enjoy a flexible work schedule
Advantages of becoming an Intrapreneur
- They have more balance and stability than an entrepreneur
- They find individual motivations
- They have more power and good salaries than other firm’s members
- They create connections with a lot of people
- They have a lot of opportunities, and they even have chances to create their own business.
In a nutshell, this article covers different aspects of entrepreneurs including the mind of an entrepreneur, and types of entrepreneurs.
You can read all the above-mentioned types to understand the entrepreneur mind, this article also clears the air about both entrepreneur and intrapreneur including their advantages.