What type of MJASIRIAMALI are you? Are You Simply a Survivalist or an Entrepreneur?  

We decide to engage in entrepreneurship due to different reasons and motives. Some saw a new opportunity, others wanted to do a certain business differently, others wanted self-employment or self-actualization, others aimed at making more money and wealth yet others simply wanted to help others succeed.    

Entrepreneurship is like a wilderness, where the strongest survive while the weak ones live in continuous danger of elimination. There are so many reasons causing 7 out of 10 small businesses to fail, some of these reasons include poor location, not offering the right solution/product, competition, poor planning and poor management just to mention a few.

Knowing your motive and the reason why you are in business can contribute greatly to your success. Here are six types of entrepreneurs.

6: The Survivalists

Forced by circumstances they decided to venture into entrepreneurship. Some completed school or college, tried looking for jobs but weren’t lucky enough. In order to keep themselves busy and survive they decided to start businesses.

They mainly sell to survive. Suppose they land into an employment opportunity, they are likely to quit entrepreneurship and accept employment. Majority of these businesses rarely succeed.

5. The Copycats

A good number of us belong to this category and that is why we are often caught up in pyramid schemes and scams. We see the success of others and try to emulate it so as to ride in the tide as well.

Majority belong in this group because we see the success of others and tend to think we can succeed the same way.  We are easily tempted as in lottery and pyramid schemes and scams where chances to succeed are rare.

A copycat would think if Mary started an M-PESA business on our street and she is getting good money, I will as well start one and beat her. Sadly, most copycats fail early because they lack not only the skills needed to manage their businesses but also commitment.     

However, a few who are lucky to survive are those who think outside the box and “modify” the idea instead of merely copying it.

4. The Jack of All Trades

These are real hustlers who chase for money through any possible business opportunity. They operate anything from a butchery, M-PESA shop, Wholesale Shop, Saloon, Liquor shop or any paying business. Some operate their chain of businesses under one roof

They do these because of fear of failure. Should one business department fails then there is always another one. They will trade in anything as long as there is money to be made.

They however find difficulties surviving beyond ten years as scaling and adapting to changes in technology becomes a challenge.

3. The Social Entrepreneurs

Social entrepreneurs emerge where a social need needs to be met. When the government cannot meet all the needs of its citizens, the needs of people remain and social entrepreneurs attempt to meet these needs through products and services that they offer.  

Social entrepreneurs play an important role in almost all sectors including renewable energy, health and education.    

These businesses will survive for as long as the problems continue to exist and until the government fills up the gap. Social entrepreneurs can survive for eternity provided they keep up with the changing dynamics of society.

2. The Opportunists

As the name suggests, an opportunistic entrepreneur recognizes an opportunity and moves quickly to capitalize on the situation.

We see them in many situations for example a photographer in a big conference or graduation event, selling umbrellas during a rainy season, printing and selling T-shirts in a particular event etc.   

These entrepreneurs are smart enough to sniff out well-timed money making opportunities. They know how to jump in and jump out at the right time.

They are smart in making decisions a factor that contributes to their success or failure. They have to continuously keep looking for opportunities for them to survive. 

Their success may be short or it may initiate another one or become a life success. Majority of small businesses are created by opportunistic entrepreneurs.

    

1. The Innovators

Innovative entrepreneurs are born in the process of doing what they know and do best. Their success is not in how much they make but the impact their solution or product have to society.

A good example of an innovative entrepreneur is Patrick Ngowi of Helvetic Solar Contractors considered as one of the brainiest young African entrepreneurs according to Forbes Magazine. He is the CEO of Helvetic Solar and who started business nine years ago after receiving a loan of 2.3 million from his mom.    

Innovators will always survive until another better innovation comes out in the market. Businesses started by innovators are by far the most secure ones although quite a few still don’t live to see their second birthdays.

Final Word

What is your motivation in becoming an entrepreneur? Understanding your motivation as an entrepreneur can be the key to growing your business and reaching whatever milestone of success you are striving to achieve. So be honest with who you are and work towards your full potential.