19 Apr The 5 types of entrepreneurs
I have never liked stereotypes, but if they exist it is for a reason. In all these years as an entrepreneur, mentor and consultant I have seen that we can fit people in certain types of profiles where, as bad as it sounds, in some cases they fit almost perfectly. The objective of this post is that we know how to identify them and/or identify ourselves to see what types of people we have to surround ourselves with in order to complement our weaknesses.
Generally they have a profile of an economist and have worked in a great counsel. It is someone who knows the markets perfectly, metric competitors of the company. They are capable of calculating indicators like the Life Time Value perfectly and have everything measured by cohorts. Their business plans are made by a group of adjusted hypothesis based in real statistical data (not “egg” like many).
Their principal problem is the paralysis by analysis, they have trouble making decisions and, more importantly, execute them quickly despise of the great amount of data that they have to do it. In general they tend to be a good agent of the everyday of the company; they must surround themselves with a creative and brave team that is not afraid of taking chances. They also have to complete their team with good commercial profiles, in general they are capable of transmitting trust to the clients and sell, but they are not usually a top selling.
Brilliant mind capable of launching ten new ideas per second. They have a product, but around that product there are 50 more functionalities that can be done, and 50 more products they cannot launch but they comment about. They transmit their ideas with passion and emotion, and in front of clients they are good if they only manage to explain 10% of what is on their mind.
Their principal problem is dispersion, they tend to have a hard time working in only one idea, they do not know how to prioritize the ideas they have. They need a solid agent by their side, as a co-founder if it is possible, since it is likely that they will not listen to the focalization advises given to them.
The Media Star
They are the perfect public speakers, they make people fall in love when they speak, their selling speech and company presentation are impeccable, they are present in all the social networks and they do not miss a chance to go to an event and tell their story. In front of the client they dazzle and manage to close sales and deals.
Sometimes they are more worried about appearing everywhere than about doing the paperwork of the company. It is essential that they have a team with well-structured processes behind, because normally they will be “bowling”.
They are a very energetic profile, they irradiate charisma and are good with sales. They would be capable of doing everything in the company if they were allowed to. Being athletic makes their mind open and have well view of the business, since their time off sports help them think and organize ideas.
I have seen many cases of this profile, and I have to say that when I am in investor mode they are the one that frightens me the most. They spend the weekend doing outdoor activities, with the risk of hurting themselves. In some extreme cases I have seen them more concentrated in sports than the company, and that is not too good for an entrepreneur.
They tend to be a well-balanced manager, but they have to be surrounded by flexible and adaptable people, since they can be very strict as the hyper energetic person they are.
They are super technical, they know it all from MongoDB to SEO. They are capable of creating products at a never-seen speed, with someone like this by your side you have a company for a while.
This is the ideal partner, as long as they do not want to be a top manager and get into everything, the worst agents I have seen come from this area. They have to surround themselves with a commercial team and an agent, if they find them things will work out.
In what profile do you fit the most? What profile do you think I am?