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ENTREPRENEUR

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What is an entrepreneur?

- a person who organizes and operates a business or businesses, taking on greater than
normal financial risks in order to do so.

- an individual who creates new business, bearing most of the risks and enjoying most of
the rewards. Commonly seen as an innovator, a source of new ideas, goods, services, and
business/or procedures.

Entrepreneurs play a key role in any economy. They have the skills and initiative necessary
to anticipate current an future needs and bring good new ideas to market.

Succesful entrepreneurs who take the risks of a startup are rewarded with profits, fame
and continued growth opportunities.
Those who fail, suffer losses and become less prevalent in the markets.

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KEY TAKEAWAYS

> An entrepreneur is an individual who creates a new business, bearing most of the
risks and enjoying most of the rewards

> An entrepreneur combines capital, land and labor to manufacture goods or


provide services through the formation of a firm

> In a market full of uncertainty, it is the entrepreneur who can actually help clear
up uncertainty, as he makes judgements or assumes the risk

> Entrepreneurship is high-risk, but also can be high-reward as it serves to generate


economic walth, growth and innovation.

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TYPES OF ENTREPRENEURS

1. ARTPRENEUR
An artist and entrepreneur. An artist who sidesteps the traditional paths to
success as an artist and independently sells their art.

2. CREATIVEPRENEUR
An entrepreneur who works in the field of visual arts and/or selling
of handmade goods.
Creativepreneur is a relatively new job designation, unheard of before the 1990s,
and only really taking off with the widespread adoption of smartphones in the
past decade.
Creativepreneurs build their businesses around a personal mission, passion or purpose
and run them from creative principles, using digital teams, tools, and tribes to expand
their income and influence.

Like an entrepreneur, a creativepreneur takes financial risks to build assets, in the hope
of yielding a profit, but with some key differences.

Creativepreneurs are not freelancers or small business owners either.


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3. ANTIPRENEUR

The opposite of an entrepreneur. Traditionally, an entrepreneur is someone who


tries to build a business to be as large and successful as possible – an antipreneur is
completely against large corporations and market-dominating companies.

Antipreneurs try to run their businesses outside of the realms of traditional


capitalism. They support the notions of local and independent businesses,
sustainable enterprises and a healthy work/home life balance. Antipreneurs often
favor non-traditional marketing and advertising methods, and can be closely
associated with the socialpreneur, localpreneur and ecopreneur.

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4. COMFORTPRENEUR

A comfortpreneur is one who does not strive to change, improve or adapt their
business strategies and structures: they are comfortable in their current habits and
processes.

Comfortpreneurs often use almost exclusively old hat or outdated techniques and
methods to run their businesses – they refuse to modernize or incorporate new
technologies in day to day operations. This reluctance can be due to fear or
uncertainty of change, or plain old fashioned stubbornness. Comfortpreneurs are
most frequently of an older age generation.

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5. E-preneur

The word e-preneur comes from the word e-commerce. E-preneurs run their
businesses entirely on the internet. An e-preneur can include any business owner
from those with extensive online stores and huge websites, to those trading
through an online shopping platform (such as eBay).

E-preneurs rarely have official, physical business premises, but instead, tend to
operate from home offices. They may rent warehouse or storage premises for
stock. E-preneurs are quite often also solopreneurs, too.

It’s worth noting that a shop owner who also sold goods online would not class as
an e-preneur, even if the majority of revenue came from the online store. E-
preneurs must make their money solely through e-commerce.

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6. Ecopreneur

An ecopreneur is one whose business specializes in environmentally friendly


products or services, and/or who business’s activities are carried out with the
utmost respect and awareness for the environment. Making sure their business
leaves as little mark as possible on nature is at the heart of an ecopreneur’s
business values.

Ecopreneurs are often associated with socialpreneurs, and even antipreneurs at


times, as their business ethic tends to steer clear of traditional capitalist notions,
and align more with social, local and sustainable business sentiments.

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7. Fauxpreneur

The word fauxpreneur can apply to a number of situations. It can be used to


describe someone who:

Falsely claims to be an entrepreneur – for example someone who does not run a
business as they say they do, or to the extent they say they do. They make take
credit for more than is true, or perhaps for a partner’s work.

Does not build a company – but instead buildings something else through which
they make money, such as an idea or product which they then sell to a company.

Lacks industry understanding – often having a very surface level knowledge of the
industry they operate in, rather than a complex and in depth understanding.

There are a number of other types of preneurs that can be considered


fauxpreneurs, most notably intrapreneurs and minipreneurs.

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8. Freepreneur

A freepreneur is someone who only uses free or very low cost methods of setting

up and running a business. Freepreneurs source all the materials and resources

they need to set up and launch their businesses without investing any of their own

money, or by investing a relatively small amount. They may secure monetary

funding from third party and external sources, but spend as little of their own

money as possible.

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9. Infopreneur

Infopreneurs use information, as opposed to goods or services, to earn their main


source of income. Infopreneurs have existed for many years, but in the modern day, i
t is most commonly online information with which they are concerned. Some infopreneurs
are experts in a given market and sell information stemming from their own knowledge,
work and experiences, and other infopreneurs may work on a client basis, earning money
for commissions.

10. Intrapreneur

An intrapreneur is an entrepreneurially-minded person who works within a larger company


or organization. Intrapreneurs embody the same business-mindedness, innovation and
creativity that entrepreneurs do, often starting their own ventures, campaigns and ideas
without prompting or support.

Sometimes, they are not strictly considered to be entrepreneurs, as they do not technically
run their own business, but rather work within someone else’s (see fauxpreneur).

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11. Localpreneur

A localpreneur is someone who owns a small business situated within a local


community. Often the business’s values and ethics revolve around this community
and the ‘local is best’ notion.

Localpreneurs are commonly be associated with socialpreneurs and antipreneurs in


their juxtaposition-of-sorts of traditional entrepreneurship

12. Megapreneur

Also referred to as superpreneur. Essentially a celbrity or superstar of the


entrepreneurial world. They are usually owners of businesses which started as
small startups, but have grown into large companies-even global companies-
usually through pure innovation and creativity.
Examp;e:Sir Richard Branson

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13. Minipreneur

There are a few different definitions of minipreneur.

1.) The exact opposite of a megapreneur – someone who runs a start up business,
but has not fully committed themselves to it. This could be because the person still
has another job, because the start up has not yet taken off the ground, or for a
number of other reasons.

2.) An owner of a very small business. These entrepreneurs are also sometimes
called micropreneurs, in accordance with the term micro-business.

3.) Part time entrepreneurs, such as those who work on a freelancing basis, run
side-businesses.
Minipreneurs often do go on to develop into being full-fledged entrepreneurs, but
until they do, they are sometimes also considered to be fauxpreneurs

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14. Mompreneur

a woman who runs a business and is also a fulltime mother. Mompreneurs often start their
businesses while they are pregnant or during early motherhood. Mompreneurs have to
juggle starting and running a fulltime business, as well as caring for their children.

15. Multipreneur

A multipreneur is someone who pursues more than one entrepreneurial avenue or


opportunity at one time. For example, this could be someone who has started up multiple
businesses, or someone who is exploring their entrepreneurial options before committing
to one thing or another.

Multipreneurs usually embody the traditional entrepreneurial mindset, ambition, and


innovation – they aim high and are very committed to their entrepreneurial pursuits.

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16. Passivepreneur

A passivepreneur is someone whose entrepreneurial efforts have resulted in them


having a passive income that requires little to no effort.

For example, many people in the rental property market spend time building up a
portfolio of houses – and income from each of them – until the point where they
have enough money coming in to stop working. In this situation, any low levels of
maintenance that are required could be outsourced to a letting agent, leaving the
passivepreneur virtually work-free.

Passivepreneurship can be viewed as the entrepreneurial equivalent of having a


pension

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17. Skepticpreneur

The word skepticpreneur describes a business person who is somewhat cynical and often
very wary of taking business risks. They are overly cautious, and will only aim for low
hanging fruit and easy wins. Their motto is to play it safe, and don’t take unnecessary risks.

Skepticpreneurs are usually very clued in on potential business risks, and rarely suffer them.
However, this tentativeness also means that they frequently miss out on some business
opportunities.

18. Socialpreneur

A social preneur is the owner of a social enterprise. A social enterprise is a for-profit


company that focuses on human well-bring more than it does making money. This concept
is at the center of a socialpreneur’s work ethic.

Often, socialpreneurs have a dislike for larger corporations and are pro local, micro and
small businesses, and they also have an awareness of their impact on the environment –
closely linking them with antipreneurs and ecopreneurs, respectively.

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18. Solopreneur

A solopreneur is a business person who operates entirely on their own, and without
support from others. They do not have business partners, and any help they do
need, they usually pay for through a professional service.

Solopreneurs are all about being independent and not relying on anyone else, and
because of this, they do not have to deal with the consequences of being let down
by other parties. However, at the same time, their businesses often grow at a
somewhat slower rate than other, multi-person businesses.

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19. Studentpreneur

The term studentpreneur is used to describe someone who starts a business while
they are still in education – either full or part time. Usually, it is students of a higher
level of education, such as university. Often, the entrepreneurial endeavors of
studentpreneurs are on a smaller scale than other types of preneurs.

Studentpreneurs are often connected with minipreneurs, as their attention and


efforts are split between their education and business venture. This also means
that studentpreneurs are also considered fauxpreneurs, as they are unable to fully
commit everything to the business

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20. Twitterpreneur

A Twitterpreneur is someone who makes their money – mostly or entirely – through


the social platform, Twitter. It could also be someone whose business relies largely on
Twitter for its success or income.

Many entrepreneurs use social media as a standing stone on which to build their
customer base, and to increase their market and industry authority. If Twitter is the
main traffic-driving channel for an online business, it could be said that the success of
that business largely depends on Twitter.

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21. Wantrepreneur

A wantrepreneur is someone who wants to start their own business or


entrepreneurial pursuits, but has not yet taken any actions to get the ball rolling. All
entrepreneurs are technically wantrepreneurs in the idea stages of their start ups.

There are many, many wantrepreneurs in the world, as the term applies to all
people who dream of running their own businesses and escaping the rat race.
Relatively few of these people actually go on to get their ideas off the ground and
running.

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22. Wingpreneur

This term describes someone who is, essentially, the wingman for an entrepreneur.
A wingpreneur is someone who provides something essential to a start up business
– be it funding, support, knowledge, skills, etc – but who takes a backseat in the
overall running of a business.

It’s worth noting that the term wingpreneur is not synonymous with an investor, as
investors are not technically entrepreneurs – they are not starting their own
businesses.

As an example, imagine a young couple who start a business together. They are
both equally entrepreneurs as they both invest equal parts into the start up. But,
then person has to step down slightly and take a back seat to raise a child

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22. Fashionpreneur

Someone who gracefully mixes fashion and entrepreneurship to build her empire –

example : Ariana Pierce. To expound on this meaningfurther, a Fashionpreneur is a

strong, intelligent, go-getter and boss who is gracefully using her knowledge in the

fashion and beauty industry to build an empire for herself.

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