Opportunists/Buyers - Opportunists look for financial opportunities with strong growth outlooks. This entrepreneur type may be less concerned about charting new paths than about buying established ventures or developing products in existing high-growth markets. Opportunists look to maximize profits and then exit the market before the growth wave subsides.
Builder/Hustler - A builder is a type of entrepreneur who worships at the altar of hard work and effort. The builder/hustler’s business strategy is to build out a strong infrastructure with high-talent workers quickly, which can lead to scalable financial growth. Though their work ethic can be perceived as noble and admirable, it’s not without drawbacks. Hustlers can alienate others in the business who aren’t as dedicated as they are or risk burning out somewhere down the line. When successful, however, these entrepreneurs have a high resistance to failure and an inability to give up.
What Drives an Entrepreneur? - Entrepreneurs are distinguished from those around them by the nature of their goals and personalities. The psychology of entrepreneurship extends to the specific traits entrepreneurs demonstrate that motivate them and ultimately lead to their success.
Passion - Quintessential entrepreneurs possess a deep source of passion for what they do. This passion will sustain them when they encounter the inevitable barriers and failures that await them along the path to building successful businesses. If entrepreneurs don’t believe that what they’re doing is worth it, they might be tempted to quit as soon as hardship comes their way, wasting both time and potential.
Confidence - The superior level of confidence that successful entrepreneurs have is what sets them apart from their peers. Believing in themselves, and their business models, is imperative to the longevity of their pursuits. It’s important to understand that for many, this isn’t arrogance, which assumes failure isn’t possible, but instead comes from confidence in knowing that if the entrepreneurs don’t believe in themselves, no one else will. This confidence will show up in how they present themselves and their products or services to others. In some cases, it can be the determining factor in whether they make a sale or a client trusts them to follow through. The more they succeed, the more confidence they’ll have and the more likely they’ll be to succeed again in the future
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