Let’s start by clarifying what’s meant by an entrepreneur. What are the main characteristics of a traditional vs an exponential entrepreneur?
Then, let’s review what are the main differences and how the tactics are the same for both, but the strategies are very different. Let me explain each of them so you can choose who you want to be.
Jean-Baptiste was the French economist who first coined the word entrepreneur around the 1800s. I like Jean-Baptiste’s definition because it’s simple: “The entrepreneur shifts economic resources out of an area of lower productivity and into an area of higher productivity” So, basically an entrepreneur is someone who adds value to the marketplace.
Most entrepreneurs start their journey as informal business people because they jump into a timely opportunity or because of necessity. Many of these entrepreneurs never evolve to formalize their businesses.
Then we have the “traditional entrepreneurs” , those who thought that owning their own business was a great idea. They came up with a strategy, visited the county offices to legalize their business and may even hired an accountant to keep up with the books required by government officials.
Between these 2 groups, lies above 80% of the worldwide entrepreneurs, depending on what country you are in.
Then we have what I call “Bold Entrepreneurs.” They formalize their businesses, and start to build a team, expand in their strategy and are becoming finance savvy.
They comprehend sales and marketing and have more of the business’s basic systems in place. About 10% of businesses belong in this category.
The Startup category comprises only about 5% of businesses. In this category the owners have decided to jump to the big leagues.
He’s got this new revolutionary idea that is going to change his community, county or why not, the whole world. Is a very experimental part of the entrepreneurs journey and very few succeed, but the ones that do are rewarded handsomely due to the unique value they bring to society.
Once any of the above types of entrepreneurs have every business system optimized, the strategy is crystal clear and has a proven product-market-fit normally he wants to expand his business and reach new heights.
You should also visit these blogs they have valuable information and best of all they are FREE
- Being an “Exponential Entrepreneur”
- MASSIVE TRANSFORMATIVE PURPOSE (MTP)
- ENTREPRENEURS AND ABUNDANCE
- This formula explains how you too could become an Exponential Entrepreneur
For more information please visit www.VidaFabulosa.com and to purchase Mynor Schult’s book visit