When it comes to startups, there is inevitably talk of “unicorns,” those rare businesses that both incorporate a profitable idea and the people necessary to execute a vision and make it happen. These businesses, though involved in tech with increasing frequency, can be found across all industries.
Every entrepreneur sees themselves as somebody with the drive to create a “unicorn.” Yet, thousands of startups fail every year. Though this is largely due to a number of factors, a successful startup is about bringing together a cohesive team of individuals that possess the skills needed to make a company succeed. Though success stories are dominated by tales of firebrands such as Mark Zuckerberg and Steve Jobs, closer examination reveals that these individuals saw their dreams realized through the efforts of similarly talented individuals as well. I’ve listed some of the archetypical entrepreneurs and how they contribute to the efforts of a startup.
The Visionary may not be the most common type of entrepreneur, but he or she is certainly the most visible. Visionaries are known for their unique perspectives and ability to sell their ideas to the public. Innovation is one thing, but these entrepreneurs can create a distinct brand to better market their companies and become well-known for their prowess and talents.
If at first you don’t succeed, try again! The Veteran knows that the best way to create a successful startup is through practice and determination. They recognize that a good business is formed on identifying and capitalizing on a need, and have a thorough understanding of the industries that they work in. They are undeterred by any of their startups that have failed in the past, and understand that their prior work has given them the foundation they need to excel.
This type of entrepreneur is an expert in their field—sometimes at the expense of everything else! Rather than high-level concepts, the Specialist uses his or her knowledge of a particular industry to create a startup that they know has no equivalence—and that will be useful for its audience. Often, these entrepreneurs are less concerned about selling their product and more focused toward the technical side of what goes into it. They may not be as outspoken about their ideas, but when paired with an individual that knows marketing, their vision can take off.
These entrepreneurs find success in business not through innovative ideas (though they might have these as well!) but through knowing the structure of a good company and how to make it grow. A good idea only goes so far if there is not a competent company to back it up, and the Organizer understands this better than anybody. They can be found behind the scenes, hunting top talent, talking with investors, and always looking for ways to expand a business.
For startups, it’s necessary to have more than just one of these archetypes to succeed! Each possesses its own strengths and weaknesses, and entrepreneurs must understand how they interact to truly create a company that stands out from the competition.