“My many seniors working on evolution ‘know’ that we are still evolving- evolution is a continuum. A hundred years from now, people may write about “folks who used to listen to music on radio” just as we write about folks who used to travel in carriages.” yourstory
We are definitely more connected today. We have accelerators, incubators, support programs, Skype, Youtube and WhatsApp. So, have entrepreneurs become more successful today?
Sadly, no. Failure rates on entrepreneurship, in percentage terms are pretty much the same, as they were five decades ago. Over any timeframe, about 48% of businesses survive beyond the fifth year regardless of recession.
The Cashout Entrepreneur
As the name suggests is highly impatient. They do not want to create lasting structures or vast footprints. They are into deal-making, entry, exits- typically real estate stocks etc;
The Industry Entrepreneur
Specializes in a certain kind of sector and is extremely risk averse. A doctor may build up a hospital or a lawyer may set up a huge practice. But they measure success not in terms of structures created, but their own influence and tend to be content within that.
The Tripper Entrepreneur
Is typically someone who never thought he would be an entrepreneur in the first place. They just hit upon something very accidentally. It’s never about the money- they want to create impact, lasting value and typically end up creating billion dollar businesses.
The structural entrepreneur builds scale, but could lack in providing service, value to society and quick numbers.
The cash-out entrepreneur will churn numbers, but will lack scale, service and value to society.
The industry entrepreneur will offer service but lack scale, quick numbers and impact
The tripper may be ignorant of service, scale and numbers till someone comes along to make sense of all of that.