![]() ![]() Small business entrepreneurs are focused on creating and running their own business, either on their own or with the help of family members. Because the focus is growth, key metrics for success may include gross margins, customer retention and conversion rates. Scalable businesses are often favored by venture capitalists, because they can quickly gain a return on their investment. With a large profit incentive, scalable startup entrepreneurs often seek to attract venture capital that will help with their rapid expansion. Have high margins, as well as a lean and agile staff prepared to pivot as the business grows.Seek to create a scalable business that’s ready to expand and serve a larger market.Find a gap in the market and focus on filling that need.Scalable startup entrepreneurs dream big, focusing on innovative ideas that can expand their business and generate as much profit as quickly as possible. Thus, the intent of social entrepreneurs differs from that of scalable startup entrepreneurs, who are concerned with rapidly expanding their business. As a result, a social entrepreneur’s markers of success can heavily weigh on positive progress toward an issue, instead of financial markers, such as profit generation. Social entrepreneurs have a strong vision for the world, and the financial goals of social entrepreneurs are centered on the company’s mission, often with a focus on effecting social change. Some social entrepreneurs may start a nonprofit, whereas others pursue profitable business ventures that give back to the community. Supporting more equitable economic development.Social entrepreneurshipĭriven by a desire to give back to the community, social entrepreneurs seek to offer solutions to important social problems, which may include: Here, we’ll discuss the five types of entrepreneurs and how their respective priorities and goals create unique businesses and distinctly affect consumers. ![]() Entrepreneurs may share several overarching characteristics, but the type of entrepreneur you are - or aspire to be - could look very different from someone else's and may influence your goals, as well as shape the future of your business.
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