Shawn Nutley of Kelowna, Canada, discusses the types of entrepreneurship.

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THE WAY TO GET STARTED IS TO
QUIT TALKING AND BEGIN DOING.
Words of Inspiration
WALT DISNEY

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Introduction
In the simplest terms, entrepreneurship involves starting a
business of your own and managing it with an eye towards
growth. In the past, this might have only referred to the
small business owner, but the definition of “entrepreneur”
has evolved in recent years to encompass a variety of
different types of ventures. Today, there are many routes
to successful entrepreneurship.

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Small Business Entrepreneurs
This is the traditional model of an entrepreneur, and we’ve all heard the rags
to riches success stories. It involves someone starting a business from
scratch with very little capital to invest in the business. In some cases, the
small business owner may only have his or her savings in addition to a small
business loan. Over time, the small business owner must learn to minimize
losses and capitalize on successes.

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Scalable Start-Ups
These types of entrepreneurs have a unique vision for new
a product or service, which they hope to develop into a
growing business. Often, these types of entrepreneurs
seek capital by courting investors and venture capitalists.
The downside to this is that the entrepreneur ends up
having to share ownership with his or her investors. These
are often higher risk ventures, which is why there are fewer
scalable start-ups in comparison to traditional small
businesses.

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Large Company
Entrepreneurship
This type of entrepreneurship involves larger
corporations that invest in smaller start-ups as a means
of launching a new product. For instance, IBM hoped to
take advantage of the PC craze of the 1980s by starting
Entry Systems, an offshoot business that specialized in
manufacturing personal computers for the home. Today,
many corporations, including Google and Microsoft,
engage in entrepreneurship on a larger scale.

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Social Entrepreneurship
There’s a new generation of entrepreneurs who are developing
products and services that are intended to address social,
environmental, and political issues. Nonprofit organizations or
commercial companies often pursue these endeavors. While the
primary goal is not to turn a profit, some companies will do so in
the process of helping society evolve.

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If you were to take a poll, you might find that two-
thirds of people believe entrepreneurship is a
worthwhile endeavor. While there are risks
associated with pursuing your business venture,
developing a strong business plan and researching
the market can boost your chances for success.

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THANK YOU FOR
YOUR TIME