Look up the meaning of the word “entrepreneur” and you’ll find that all the definitions have the following in common: An entrepreneur is doing something new, and they are pursuing the creation of value. Depending on who you ask, they may also be willing to take on some risks in the process.
That is not to say that all entrepreneurs exhibit the same behaviors. Indeed, they may be more or less open to the possibilities around them and have different attitudes towards risk and uncertainty.
On that basis, Dimo Dimov and Joseph Pistrui define four categories of entrepreneurial mindsets:
- The focused entrepreneur: Their innovation is usually centered around enhancing their present activities.
- The incremental entrepreneur: They look beyond their current business for new opportunities; making use of existing capabilities in new ways.
- The playful entrepreneur: They are always questioning the status quo and aren’t afraid to experiment to try out new ideas.
- The breakaway entrepreneur: They’re constantly searching for the “next big thing” and don’t shy away from taking risks to bring their great idea to life.
Many of us don’t think of ourselves as entrepreneurs because we haven’t set up our own company. But we should. When we consider what constitutes the core of entrepreneurial behavior: identifying, pursuing, and delivering valuable ideas, is that not something that can be practiced at all levels of an organization? Are we not all trying to create value – whether we own the business or are its employees?
Do you want to know what type of entrepreneur you are? Take our assessment to find out.
What can you do to ensure that the most valuable ideas get pursued?