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Though the word entrepreneur is an umbrella term for people who have developed and launched their own business, there are actually several different types of entrepreneurship. 

Many will embody similar skills and attributes but their aspirations, passions and how they tackle challenges will vary from person to person. This is where they differ. 

In this guide, we’re going to take a look at the eight most common types of entrepreneurs out there. These include:

1. Small business entrepreneurs

A small business entrepreneur is someone that simply wants to make enough profit to support their family and lifestyle. They aren’t chasing large-scale profits. 

This type of entrepreneurship is when a person owns and runs their business and usually hires local employees and/or family members to help run it. 

2. Large company entrepreneurs

On the opposite end of the spectrum, large company entrepreneurs are typically advanced professionals who know how to sustain innovation. They will be chasing bigger profits and have much bigger teams. They themselves are part of the larger team of C-level executives. 

3. Social entrepreneurs

A social entrepreneur is one who wants to solve social problems and make the world a better place through their goods or services. Because of this they aren't working for big profits or wealth and tend to be nonprofit organisations. 

4. Innovative entrepreneurs

Innovative entrepreneurs are very involved in growing their business and portfolio by constantly coming up with new ideas. They then take these ideas and turn them into business ventures whether for one company or for several different companies. 

Their motivation is usually to change the way people live for the better through their goods or services. 

5. Hustler entrepreneurs

Hustler entrepreneurs are not afraid of hard work and are those who are constantly putting in effort and doing whatever it takes to achieve their goals. 

These tend to start as small business ventures but through sheer determination and hustling can grow into bigger businesses. 

6. Imitator entrepreneur

An imitator entrepreneur takes inspiration from existing businesses but works on improving their ideas. This could mean providing updated products, cheaper goods and services and increasing profit margins to beat out their key competitors. 

Imitators can be a combination of innovators and hustlers as they work hard to innovate but always start by taking inspiration from existing companies. 

7. Researcher entrepreneurs

Researcher entrepreneurs take a very methodical approach to starting up their business, doing as much research as possible before putting their goods or services out there.  

They look for facts, data and insights rather than simply trusting their intuition and they do this to increase their chances of success when they do kickstart their business. 

8. Buyer entrepreneurs

A buyer entrepreneur uses their existing wealth to fund their new business ventures. They typically use their fortune to buy up existing businesses they think will be successful. 

Their overall goal is to grow any businesses they acquire to expand profits. This can be a less risky approach than starting a business from scratch but requires them to already have money behind them. 

To find out more about the different types of entrepreneur and to find out which type your are, check out the reading below: 

https://lonelyentrepreneur.com/types-of-entrepreneurs/ 
https://businessjargons.com/types-of-entrepreneurs.html 
https://quiz.infusionsoft.com/