Entrepreneurship expresses the process of launching, developing and managing a business project in all aspects, taking into account all the financial risks associated with it. In simpler words, it is the willingness and desire to create a new project. Leadership plays an important role in driving the economy and expanding the global market. This field has begun to gain increasing popularity in recent years, as entrepreneurship takes many forms, which we summarize as follows:
Small Business Entrepreneurship✓
In today's world, it can be said that most commercial projects are small projects. As 99.7% of all companies in the United States of America are small companies, they employ 50% of the total non-governmental workers.
This type of entrepreneurship is hardly profitable, and its members make small profits that cover their expenses and ensure that they support their families. Small projects lack the ability to attract investment capital as they are often funded by friends and family or small business loans.
Examples of small businesses include small shops, groceries, barbershops, consultants, and self-employed craftsmen.
Scalable Startup Entrepreneurship✓
In this type of entrepreneurship, entrepreneurs create their companies believing that their outlook and ideas will change the world. They obtain financing from venture capitalists. They seek to find a business model that is scalable and replicable, and once they find it, they will need more funding to be able to develop their projects and move them to the next stage.
Scalable entrepreneurship makes up a small percentage of the business world because it involves a lot of capital risk.
Examples include successful companies such as Facebook, Instagram, and various online shopping platforms.
Large Company Entrepreneurship✓
This type of leadership is characterized by continuous innovation and the constant introduction of new products centered around the original main product. These products are constantly being developed to meet changing consumer needs and prevailing technological advancements.
This type of business often expands by partnering with or purchasing other innovative companies. Examples of large entrepreneurial companies include: Google, Microsoft, Samsung...etc.
Social Entrepreneurship✓
Social entrepreneurship occurs when an entrepreneur attempts to create products or services that solve existing social problems. In this case, the goal is to make the world a better place, not to achieve profits and material wealth.
They may come in the form of for-profit or non-profit companies, or a combination of the two types.
An example of this kind of leadership is the Safepoint Trust, a British organization founded by Marc Koska, which works to redesign medical tools and supply low-cost, non-reusable syringes to clinics and health centers around the world. It was able to provide more than 4 billion safe injections in more than 40 countries around the world.
1/
?What are the types of entrepreneurs
Different forms of entrepreneurship have also led to the emergence of different types of entrepreneurs who differ in the way they carry out their business and in the impact of each type on the success of these businesses.
Here are the five types of entrepreneurs:
Innovators_
Innovators are entrepreneurs who always come up with new ideas and turn them into real businesses and projects. Innovative entrepreneurs often change people's outlook on the world and the way they think and do things.
This type of entrepreneur tends to be very passionate and obsessed with their business, as they derive their passion and enthusiasm from the unique nature of their business ideas.
Not only that, innovators always find new ways to market their products by choosing marketing strategies that make them stand out among their peers and competitors.
Examples of this type of entrepreneur include:
Steve Jobs, founder of Apple.
Larry Page, founder of Google.
Bill Gates, founder of Microsoft.
Get the full glory of his business success (as well as all of his company stock).
He is the one who commands and prohibits and sets all the rules.
Facing little competition while starting out in entrepreneurship.
2/
Disadvantages of the innovative entrepreneur:
The need for large capital in order to turn the idea into reality.
Facing a lot of objection and resistance from business partners.
The need for a longer time to achieve success.
The ability of an innovative entrepreneur to envision a new way of thinking makes him stand out from the rest and often succeed, but it takes a lot of capital and a lot of patience and determination in order to achieve innovation on the ground.
_Hustlers
Unlike innovators who are driven by their unique vision and ideas, strivers are willing to work harder, and that is their main motivation. They start small and see continuous effort as a way to grow their business (unlike innovators who see capital as the most important means of growth).
This type of entrepreneur tends to have a very high focus, is willing to eliminate all distractions, and prefers to take risks rather than stay in the comfort zone.
An example of a struggling entrepreneur is Mark Cuban, who started in the business field as a young man, selling garbage bags, then newspapers, and even postage stamps. Thus, his struggle enabled him to establish Audionet, a company specialized in displaying sports matches on the Internet, which was sold in 1999 to Yahoo. In the amount of 5.9 billion US dollars.
Characteristics of the struggling entrepreneur:
.Seriousness and constant diligence.
Persistence and not giving up easily.
Positivity and seeing disappointments and rejection as a step towards success.
4/ Disadvantages of the struggling entrepreneur:
.Exposed to stress and exhaustion.
He is willing to get rid of members of his team who do not share the same vision.
He does not value raising capital and focuses only on putting in more effort.
Although struggling entrepreneurs often do not give in to failure, many of them may strive to achieve their goals at all costs, even if it is through illegal means, which costs them a lot. This type of entrepreneur often takes longer than the rest to reach their dreams and achieve their ambitions.
_Imitators
As the name says, copycats are entrepreneurs who take certain entrepreneurial ideas and develop them. They are always looking for ways to improve a particular product and then dominate the market.
They bring together innovators who come up with new ideas for product development, and strugglers who do not abide by the rules imposed on them by others and also have great self-confidence.
5/ Characteristics of an imitated entrepreneur:
Developing an existing idea is easier and less stressful than coming up with a completely new idea.
Ease of measuring success through comparison with the original idea.
The possibility of learning and benefiting from the mistakes of those who had the original idea.
6/ Disadvantages of the imitated entrepreneur:
Their ideas are often compared to the original idea.
They must always keep moving forward so as not to be overwhelmed by similar ideas.
Taking an existing idea and working to develop it may be a great idea for entering the world of entrepreneurship, especially since it does not involve major risks as is the case with innovative entrepreneurs. However, it may not be attractive to many entrepreneurs.
_Researchers
Even after finding a unique idea, this type of entrepreneur will take all of their time to collect all the information related to this idea. For them, failure is not an option because they have analyzed the idea from all aspects.