Types of EntrepreneursFebruary 06, 2012

Prof Chowdari Prasad, TAPMI, Manipal

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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 organi-sational sanction and resource commitments for the purpose of innovative results.

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1. Dhirubhai Ambani2. JRD Tata3. Adi Godrej4. Anil Ambani5. Dr K Anji Reddy6. Azim Premji7. Bhai Mohan Singh8. B M Munjal9. Ekta Kapoor10. Ghanshyam Das

Birla

11. Karsan Bhai Patel12. Kiran Mazumdar

Shaw13. K.P. Singh14. Kumar Mangalam

Birla15. Lalit Suri16. M S Oberoi17. Mukesh Ambani18. Nandan Nilekani19. Narayan Murthy20. Naresh Goyal

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21. Dr C Pratap Reddy

22. Rahul Bajaj23. Ramalinga Raju24. Ratan Tata25. Raunaq Singh26. Shiv Nadar27. Subhash Chandra28. Subrato Roy29. Sunil Mittal30. Tulsi Tanti

31. Verghese Kurien32. Vijay Mallya33. Mallika

Srinivasan34. Naina Lal Kidwai35. Shahnaz Hussain36. Sulajja Firodia

Motwani37. Shobhana Bhartia

Any more Indian Names?

Any more NRI Names??

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1. Amar Bose2. Arun Sarin3. Indra Nooyi4. Laxmi Mittal5. Sabeer Bhatia6. Lord Swaraj Paul7. Vinod Dham8. Vinod Khosla9. 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 Pune-Lavasa 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 GaneshEntrepreneurship 13FDP

• 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. It Happened in India : Kishore Biyani2. Simply Fly : Capt Gopinath3. A Better India - A Better World : NRN

Murty4. Imagining India : Nandan Nilekani5. The Road Ahead : Bill Gates6. Banker to the Poor : Muhammad Yunus7. Losing my Virginity : Richard Branson8. Screw It, Let’s Do It : Richard Branson

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09. Go Kiss the World : Subroto Bagchi10. The High Performance

Entrepreneur : SB11. The Professional : Subroto Bagchi12. Stay Hungry – Stay Foolish :

Rashmi Bansal13. Connect the Dots : Rashmi Bansal14. I have a Dream : Rashmi Bansal15. Dhirubhaism : A G Krishna Murthy16. How to Become Your Own Boss :

Martha Shirk and Anna S WadiaEntrepreneurship 16FDP

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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.

Entrepreneurship

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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

Entrepreneurship

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. Home-run Sluggers2. On-base Hitter3. Fact Finders4. Follow-Through5. 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 Entrepreneurs2. Initiative Entrepreneurs3. Fabian Entrepreneurs and4. “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 EntrepreneursTechnological 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 Entrepreneurs13. 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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