What is an Entrepreneur? A Definition
Here’s a simple definition of an Entrepreneur: A person who starts a business and is willing to risk loss in order to make money.
You may notice, though, that Entrepreneurs come in many different shapes and forms, and follow many different paths to wealth.
What is Your Entrepreneur Profile?
Roger Hamilton identifies 8 different Wealth Profiles and describes 8 distinctly different types of Entrepreneurs.
Success comes from knowing which game to play, and then playing only that game. – Roger Hamilton
If you want to attract wealth instead of slogging for it – first identify your own personal wealth profile, and then get into your flow.
The 8 Different Wealth Profiles:
Creators are great inventors and are excellent at starting projects, or companies, but not great at follow-through. Creators usually make more money from their projects when they step back and put good Managers in place to take care of their creations, freeing themselves to be creative.
Moms who are hugely successful Creators: JK Rowling (Harry Potter), Sara Blakely (Spanx) and Anita Roddick (Body Shop).
Stars love the limelight. Because Stars exude confidence and charisma, their wealth is created by making themselves the brand.
Famous Mom Stars: Hillary Clinton (Politician), Martha Stewart (MS Living Omnimedia) & Beyonce Knowles(Singer)
The Supporter’s path to wealth is in leading teams. They are excellent networkers and make great CEOs. Supporters do best once they find a Creator who’s set up the company they want to run, as they’re not great at starting it up themselves.
Supporter Moms leading massive companies: Meg Whitman (eBay & HP), Sheryl Sandberg (Facebook)
A dealmaker matches investors with investment opportunities. It’s interesting to note that a Star’s value grows as she becomes less accessible, while a Dealmaker’s value grows as she becomes more accessible.
High Profile Dealmakers who are both Mothers to 5 children: Susan Wojcicki (YouTube)& Lynda Resnick, (Roll Global – Fiji Water, Interflora and Franklin Mint)
Traders rely on timing as they create their wealth by buying and selling. While Dealmakers become immersed in the deal, Traders detach so that they can remain calm and calculated.
World’s Most Successful Trader and Mom Entrepreneur: Melinda Gates (Gates Foundation)
As the name suggests, Accumulators create their wealth by accumulating appreciating assets. While Stars are quick to spend, Accumulators are quick to save. They rarely act on impulse and will fail if they do not set out criteria for action.
The Wealthiest Person in Australia is a Mother of 4 children and an Accumulator: Gina Rinehart (Hancock Prospecting)
Lords are the quiet, reserved giants of industry. Lords can squeeze cash flow from assets, without owning assets. While extroverted Supporters value people over numbers, introverted Lords value numbers over people. Lords don’t have the patience for niceties, love certainty and hate risk.
Mom Lords Ruling the World: Janet Yellen (U.S. Federal Reserve), Indra Nooyi (PepsiCo) & Sri Mulyani Indrawati (World Bank)
The Mechanic’s path to wealth is in creating systems that work. While Creators are good at starting things, Mechanics are best at finishing things. Mechanics are always asking how. Their forte is taking an existing business and finding ways to perfect it, franchise it or systematise it.
Mom Mechanics at the Top of their Game: Marissa Mayer ( Yahoo!), Christine Lagarde (IMF), Loretta Lynch (Bonus Mom and US Attorney General)
Your work is to discover your work, and then, with all your heart, to give yourself to it. – Buddha
About Roger Hamilton:
Roger James Hamilton is a world-renowned futurist and social entrepreneur. He is the Founder of Entrepreneurs Institute and the creator of Wealth Dynamics, used by over 250,000 entrepreneurs to follow their flow.
Roger owns businesses in publishing, property, financing, franchising, event management, resort management, training, coaching, technology, membership, retail and education. Roger lives in Bali with his wife, Renate, and their three children.
Roger’s latest initiative is Genius School’s Young Entrepreneur Academy Awards and he’s offering prizes valued at over $10,000 on the world’s first Young Entrepreneur Academy programme.
Apply now for a scholarship if you have a child aged 9 to 18+ who’s a budding Entrepreneur.
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