What type of a trailblazer are you? Here are 4 entrepreneurship examples

If you have a great business idea but struggle with self-doubt, know that every entrepreneur has been there. Stepping into the entrepreneur mindset and learning about how entrepreneurial pursuits work could be just the push you need.

Take a leap with us, and learn about the types of entrepreneurship. Find out where your business idea fits into the schema. We’ll explain the pros and cons of these entrepreneurship examples so that you have all the facts you need to move forward.

What are the 4 types of entrepreneurship?

We know you’ve heard the stories of entrepreneurs starting up billion-dollar companies in their garages or dropping out of college to chase a (successful) dream. But not all stories of business ventures begin or end this way. Here are the four main types of entrepreneurship for context:

1. Small-business entrepreneurship

Most companies are small companies, which means that most entrepreneurs are small-business owners. For now, put aside the stories of Silicon Valley tech companies catapulting to success. Instead, focus on your hardworking hometown business owners: the owner of the pizza shop you love, the barber who trims your hair or the hometown mechanic who does your oil changes. These individuals are classic examples of small-business entrepreneurs.

2. Large-business entrepreneurship

This example of entrepreneurship business belongs to established operations that continue to grow. Even big, successful companies can have an entrepreneurial spirit – looking for ways to innovate, launch new products and rise above the competition. What motivates these companies to keep the flame of that spirit alive is often demand in the market. In a way, it’s a survival instinct, similar to that of smaller companies working hard to “make it.”

3. Social entrepreneurship

Social entrepreneurs concern themselves with the betterment of society. They tackle social issues in the products or services they offer. But not all of these operations are non-profit ones. Hybrid car companies may be addressing concerns about climate change, but these entrepreneurs make money along the way.

4. Scalable startup entrepreneurship

We’d like to think all new ventures are examples of scalable entrepreneurship because we believe in everyone’s ability to succeed. Scalable businesses expect extreme growth and aim to make a widespread change. Here, you can think of one of those businesses that started in someone’s basement and went on to redefine the way the world worked.

The pros and cons of entrepreneurship

While any job has ups and downs, each type of entrepreneurship comes with a different lifestyle.

Small-business entrepreneurship

Being your own boss has its own benefits and drawbacks. Small-business entrepreneurs may have the freedom of setting their own hours and doing what they love, but they’re often the only one (or one of a handful) running that company and working those hours.

In the small-business model, all tasks – from administrative to operational – that keep the company afloat fall on the shoulders of the people who own the company. It may be harder to make a profit because these businesses have a smaller reach and deal with fewer customers.

Large-business entrepreneurship

We’ve all heard the adage that big fish have an easier time competing in small ponds, but what about big fish competing in large ponds (against other big fish)? Such is the challenge in the case of large-company entrepreneurship.

Yes, having an established, successful business is a plus, but when it comes time to innovate with new technology, these operations must compete against ones that are just as big, well-funded and successful. And, sometimes, remaining successful means teaming up with the competition.

Social entrepreneurship

There’s nothing more rewarding than changing the world for the better, but not all social organizations are profitable. For non-profits, paperwork, fundraising and regulatory red tape can be frustrating, confusing and time-consuming.

But we’re surrounded by examples of both for- and non-profit organizations successfully making a difference. Don’t let these challenges discourage you from your dream.

Scalable startup entrepreneurship

Scalable businesses may have the power to shape society and bring in a ton of profits, but creating a successful startup isn’t easy. These entrepreneurs must have a unique idea, but they also need investors who believe in the idea and are willing to pour funds into the project.

These entrepreneurs (and the investors who support them) must be able to stomach some risk-taking and remain organized and strategic at every point in the new company’s development. This requires making detailed business plans and constantly analyzing performance.

If they could do it, you can too

Ready to get your start? Perhaps you’re about to open a café in your hometown, lead an organization for social change, or take your tech company out of the basement. Or, maybe you’re a high-ranking employee at a big company with an innovative idea looking to climb the ladder. Whatever the case, you can set yourself up for success by smartly marketing your idea, organization or business.

If you’re looking for an inexpensive way to get the word out, make profiles on all the main social media platforms and carefully curate accounts around your products or services. Be sure to provide all the information your potential customers need, like your business address, phone number and a link to your company website or ecommerce page. If you want to include more than one link in your social media bios, get a Linktree URL to allow your viewers to redirect to all your content elsewhere.

If you’re funded, consider partnering with an influencer for paid content, taking out a social media ad campaign or getting a professionally designed website with SEO-rich content. Whether you’re depending on venture capitalists or current or future customers for the success of your company, it’s important they get a full picture of your company’s operations and offering.

We hope that with this information, you’re feeling more confident about starting your own business and becoming a successful entrepreneur.