Types of Entrepreneurs February 06, 2012 Prof Chowdari Prasad, TAPMI, Manipal

The word Entrepreneur is derived from French word entreprendre, meaning to undertake . He is one who undertakes to organize, manage, and assume risks of business. Today, he is an innovator or developer who recognises and seizes opportunities; converts those opportunities into workable/ marketable ideas; adds value through time, effort, money, or skills; assumes the risks of the competitive marketplace to implement these ideas; and realises the rewards from these efforts
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Entrepreneurial activities that receive organisational sanction and resource commitments for the purpose of innovative results.

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Dhirubhai Ambani JRD Tata Adi Godrej Anil Ambani Dr K Anji Reddy Azim Premji 7. Bhai Mohan Singh 8. B M Munjal 9. Ekta Kapoor 10. Ghanshyam Das Birla
1. 2. 3. 4. 5. 6.

11. Karsan Bhai Patel 12. Kiran Mazumdar Shaw 13. K.P. Singh 14. Kumar Mangalam Birla 15. Lalit Suri 16. M S Oberoi 17. Mukesh Ambani 18. Nandan Nilekani 19. Narayan Murthy 20. Naresh Goyal

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21. Dr C Pratap Reddy 22. Rahul Bajaj 23. Ramalinga Raju 24. Ratan Tata 25. Raunaq Singh 26. Shiv Nadar 27. Subhash Chandra 28. Subrato Roy 29. Sunil Mittal 30. Tulsi Tanti

31. Verghese Kurien 32. Vijay Mallya 33. Mallika Srinivasan 34. Naina Lal Kidwai 35. Shahnaz Hussain 36. Sulajja Firodia Motwani 37. Shobhana Bhartia Any more Indian Names? Any more NRI Names??

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1. 2. 3. 4. 5. 6. 7. 8. 9.

Amar Bose Arun Sarin Indra Nooyi Laxmi Mittal Sabeer Bhatia Lord Swaraj Paul Vinod Dham Vinod Khosla KB Chandrasekhar

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GMR Grandhi Mallikarjuna Rao Air Deccan Capt Gopinath GVK GV Krishna Reddy Sam Pitroda Kishore Biyani Dr TMA Pai Jerry Rao Ashok Soota Sunil Mittal Subroto Bagchi Vani Kola...
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D Companies : Dalit entrepreneurs are redefining business rules and corporate social responsibility Kalpana Saroj: revived Kamani Tubes Ltd., which had been lying closed for more than 17 years, and made it into a Rs 110 crore company. Saroj is also into hospitality and education. Milind Kamble: He started Fortune Constructions in 1995 with a contract worth Rs 1 lakh. Today, his Rs. 100 crore company handles projects like PuneLavasa Road and Baramati Water Supply Scheme.

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Arun Khobragade: After stints at NIIT, American Express and ABN AMRO, he started RAS Frozen Foods in 2006. It has a turnover of Rs 3 crore Ashok Khade: Started DAS Offshore Engineering in 1990. The Rs. 550 crore firm, which has 4,500 employee, is the biggest company owned by a dalit. Malkiat Chand: His foray into the textile business was a disaster. In 1992, he launched Janagal Exports, which has grown into a company with a turnover of Rs. 70 crore.

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Five Star Startups : Bright Lifecare (Healthkart) : P Tandon & S Maheswari : March 2011; Amount : $ 7.5 M; Investors : Sequoia Cap, KAE Cap, Omidyar Jewels Online Distribution India (Bluestone.com) Vidya N & Gaurav Singh Kushwaha: August 2011; Amount : $ 5 M; Investors: Accel Partners, Silicon Valley Bank, K Ganesh
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Tendsutra Platform Services (Pepperfry.com); Ambareesh Murthy and Ashish Shah; July 2011; Amount $ 5 M; Investor: Norwest Venture Partners FETISE : A Shah, S Tambi, C Bafna and S Ghosh; March 2011, Amount $ 5 M; Investor: Seed Fund FREECULTR : Founders: S Shah, S Singh and R Narkar; July 2011; Amount $4 M; Investor: Sequoia Capital
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1. 2. 3. 4. 5. 6. 7. 8.

It Happened in India : Kishore Biyani Simply Fly : Capt Gopinath A Better India - A Better World : NRN Murty Imagining India : Nandan Nilekani The Road Ahead : Bill Gates Banker to the Poor : Muhammad Yunus Losing my Virginity : Richard Branson Screw It, Let s Do It : Richard Branson
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09. Go Kiss the World : Subroto Bagchi 10. The High Performance Entrepreneur : SB 11. The Professional : Subroto Bagchi 12. Stay Hungry Stay Foolish : Rashmi Bansal 13. Connect the Dots : Rashmi Bansal 14. I have a Dream : Rashmi Bansal 15. Dhirubhaism : A G Krishna Murthy 16. How to Become Your Own Boss : Martha Shirk and Anna S Wadia
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One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.

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Desire for responsibility Preference for moderate risk risk eliminators Confidence in their ability to succeed Desire for immediate feedback High level of energy Future orientation serial entrepreneurs Skilled at organizing Value achievement over money

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 An Entrepreneur (ahn tra pra nur) is

a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur
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Entrepreneurs, driven by an intense commitment and determined perseverance, work very hard. They are optimists who see the cup as half full rather than half empty. They strive for integrity. They burn with the competitive desire to excel.

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 Some advantages

 You are your own boss  Enjoy the profits from your efforts  Sense of pride in your business  Flexibility in your work schedule

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Some disadvantages
 Will need to put in long hours  Need money to start  Have to keep up with government rules and

regulations  May have to mark hard decisions (hiring, firing, etc.)  May lose money
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01. Business Entrepreneurs (Idea Generators)

 Trading Entrepreneurs (Exchange of Goods )  Industrial Entrepreneur (Manufacturer first .)  Corporate Entrepreneur (Plans, Organises,

Develops and Manages Corporate)  Agriculture Entrepreneur (Develops Agri-based Activities)

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02. Technology Based Entrepreneurs - Technical Entrepreneurs (Highly skilled in product crafting, designing, etc) - Non-Technical Entrepreneur ( Focuses on Marketing, Distribution & Designing a cheaper product) - Professional Entrepreneur ( who creates new technology or idea and sells it to others for money and moves to next level of creation)

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03. Motivational based Entrepreneurs - Pure Entrepreneur (who creates jobs rather than seeks a job) or - Motivated Entrepreneur and - Induced Entrepreneur (who is encouraged by government bodies)
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Have you categorized entrepreneurs on the basis of what they are trying to achieve? It often depends upon their nature and expression how they leave a mark in the business world. The service and product they offer becomes a reinstatement of who they are. Here's a list of different types of entrepreneurs: 1. 2. 3. 4. 5.

Home-run Sluggers On-base Hitter Fact Finders Follow-Through Implementers

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Home-run sluggers want to change the world in a big and obvious way, says serial entrepreneur John Warrillow. They are not thrilled with incremental success, and the trend toward serial entrepreneurship is not necessarily appealing to them. Sluggers would rather make a single business their life s work, and make it big (if at all.) They are not as amenable to early exits or succession planning. Fred Smith of FedEx is an obvious example of a slugger.
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Think of business owners who have a series of successful business start-ups to their name as you would hitters in baseball who have a high on-base percentage. Like the on-base hitter, these entrepreneurs are content to achieve success in bite-sized bits on a regular basis, rather than all in one flourish. Rene Lacarte fits this description. The founder of PayCycle and Bills.com has launched a series of similar businesses in the online payment field. Each has been a success, though none has been a bulls-eye.
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Fact Finders, as defined by the Kolbe personality test, are entrepreneurs who seek details before making decisions. Just as picking at a single yarn in an old sweater unravels it, each answer to a fact finder s question triggers a new set of questions. The fact finder seeks out the answers to his or her questions before making decisions.
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Follow-Through entrepreneurs love systems, according to the Kolbe test. In fact, creating a system is how they react when confronted with the chaos created by any start-up enterprise. Follow-through entrepreneurs think in a linear fashion, where Step 1 leads to Step 2 and so on. Their companies tend to operate by methodology (think Six Sigma) and to reward employees for continuous process improvement.

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Implementers, the Kolbe test says, live in the physical world and enjoy building and fixing things. They are innovative by nature, and always looking to build the proverbial better mousetrap. Implementers thrive in environments that allow them to work with their hands.
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Types of Entrepreneurs are:1. Innovative Entrepreneurs 2. Initiative Entrepreneurs 3. Fabian Entrepreneurs and 4.

Drone Entrepreneurs

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Adventurous Entrepreneurs who attempt to put attractive possibilities into practice; They utilise a chance to introduce a new technique or a new produce; They mobilise sufficient capital to start an enterprise befitting to this possibility and Those who introduce new product and new production techniques and find out the new markets for their product
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Attempt to imitate Innovative Entrepreneur; Initiate the techniques and activities of others; Belong to developing countries generally

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Entrepreneurs who attribute preference to customs, religion, tradition and past habit; Being shy and lazy, they are very cautious to accept changes and suspect changes; Reluctant to face risk, continuously follow the foot steps of their predecessors
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Unwilling to make any change in the production system even if the system causes losses repeatedly; They never try to rise in accordance with the opportunities or to accept the warning given by times; Even if their products have lost marketability and the activities of the enterprise have proved to be uneconomical, and if the enterprise has been thrown out of the market
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Individual Entrepreneurs Institutional Entrepreneurs Technological Entrepreneurs Inherited Entrepreneurs Instigated Entrepreneurs

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1. Agri-preneurs 2. Edu-preneurs 3. Dalit Entrepreneurs 4. Food-preneurs 5. Green Eco Entrepreneurs 6. Kid Entrepreneurs 7. Medi-preneurs 8. Rural Entrepreneurs

9. Serial Entrepreneurs 10. Social Entrepreneurs 11. Tech-preneurs 12. Teen Entrepreneurs 13. Virtual Entrepreneurs 14.Women Entrepreneurs and 15. Young Entrepreneurs

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The Top Ten Characteristics Today s Entrepreneurs Share: Recognize and take advantage of opportunities Resourceful Creative Visionary Independent thinker Hard worker Optimistic Innovator Risk taker Leader

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Commitment, Determination, and Perseverance Drive to Achieve Opportunity Orientation Initiative and Responsibility Persistent Problem Solving Seeking Feedback Internal Locus of Control

Tolerance for Ambiguity Calculated Risk Taking Integrity and Reliability Tolerance for Failure High Energy Level Creativity and Innovativeness Self-confidence and Optimism Independence Team Building

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