Six Types of Entrepreneurs — Who are you?
By Danny Holtschke from StartupGeist
I slightly modified Steve Blank’s types of entrepreneurs relating them to Paul Graham’s growth definition of startups.
Overall, there are six different types of entrepreneurs. Being a startup founder makes you one of them.
Any of these six types of entrepreneurs search for change, embrace it (instead of fighting it) and exploit it as an opportunity.
Lifestyle Entrepreneur
- Purpose: Work to live their passion, passive income.
- Example: “A surfer who gives lessons on the side.”
- Online: Often referred to ‘Passive Income’ or ‘Four-Hour Work Week’.
Offline Entrepreneur
- Purpose: Work to feed the family.
- Example: “My parents ran a grocery store.”
Startup Entrepreneur
- Purpose: High-growth, scalable. Born to be big. World-changing companies. “Billion or Bust” attitude.
- Example: “I will start the next Facebook.”
Software Entrepreneur
- Purpose: Acquisition targets, work to live their passion. Not all Tech Startups Have High Growth Potential — depends on Timing, Market, Customer Value & Capitalization.
- Example: “I will create SaaS or mobile app to solve a specific need.”
Social Entrepreneur
- Purpose: Driven to socially make a difference.
- Example: “The 21st century version of the Peace Corps.”
Corporate Entrepreneur
- Purpose: Be an Innovator or stay a Bureaucrat.
- Example: “People in big companies, trying to innovate.”
Who are you?
To answer this question, you need to discover what your goals, values, and strengths are. I want to make three suggestions.
Firstly, I suggest considering ‘Discovering Your Values’ a project. It puts the right emphasize helping you to focus on it — not just an afternoon, but over an extended period of time. Find out more here.
Secondly, I suggest defining your ideal life. Define the amount of money you need every month. Tim Ferriss calls this ‘dreamlining’ and used ‘lifestyle costing’. Find out more here.
Thirdly, I suggest that you start as a freelancer and engage in many different projects with a wide range of different people and missions. This way you build a network, acquire crucial business and soft skills and get closer to who you are and discover what you want. Find out more here.
StartupGeist Knowledge Base
StartupGeist summarizes insights and experiences from startup experts and founders. This article is based on …
- Steve Blank: Do Startups Matter
- Paul Graham: Startup = Growth
- Virgin.com: The six types of entrepreneur misfits — which are you?
- Entrepreneur.com: The 5 Types of Entrepreneurs
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I am looking forward to hearing from you.
I am Danny and started StartupGeist to help students and recent graduates build a business — and have a good life. Why? To be free, financially independent and healthy. How? Build a growth mindset and deliberately practice skills that turn your ideas into something bigger.
