Bill Wagner has classified entrepreneurs into seven types based on their personality traits, which are as follows:
- Trailblazers: They are basically leaders or pioneers in a particular field or are also defined as innovative leaders. The entrepreneurs having this characteristic are logical, analytical, practical and realistic. They tend to base decisions on facts, rather than feelings. They are very competitive, ambitious and goal-oriented. They are not satisfied with the slow progress of their venture. They tend to have two speeds-fast and faster. They prefer being the driving force of a business.
- Go-getters: They are usually defined as someone who is very energetic, determined to be successful and able to deal with new or difficult situations easily.
Go-getters, usually represent largest percentage of the founders. Their natural style lends itself to manage and lead, both process and people. They have a higher than average level of both dominance and sociability and are independent.
- Managers: They can be defined as individuals who are incharge of a certain group of tasks. So, entrepreneurs falling in this category have a tendency to look at people as vehicles for helping them to accomplish their goals. They are dominant, independent and are goal-oriented as well and can be quite analytical, focusing more on processes and outcomes, than on people. Managers also have a higher than average level of relaxation and generally understand that some projects simply take more time to get completed, unlike trailblazers and go-getters who always act urgently to complete tasks.
Managers consider employees as an extension of their family. The manager's business strengths are doing things on their own, as great behind-the-scene leaders who love working with systems, concepts, ideas and technologies. They excel at competitive selling because they enjoy overcoming rejection and achieving goals despite obstacles. They can deal well with customers, especially repetitive customers and because of this, they are great at growing a business.
- Motivators: They can be defined as persons who make someone enthusiastic about doing something. So, these entrepreneurs do well working by, with and through others. They have a high level of sociability, an above average level of dominance and are both driven and independent. They work well under pressure.
They can be convincing and avoid most confrontations by creating a strong emotional argument. They do well in the toughest of customer service roles, as they are able to see both sides of arguments. They tend to deal even with the most negative arguments by using the three F's-feel, felt and found.
- Authoritarians: They are characterised by favouring absolute obedience to authority. They generally tend to tell other people what to do in an arrogant manner. Authoritarians are the loyal workers who make the world function. They make their products and services their respective systems. They are very dedicated and cooperative, following rules, procedures and policies carefully. Very thorough with details, they are cautious, deliberate, logical and analytical.
- Collaborators: They generally work together, especially in a joint intellectual effort. These entrepreneurs are awarded with social skills which they use to influence other people and get what they want.
However, they aren't comfortable with cold calling (i.e. making random calls) or pitching new ideas. They generally like to follow prescribed rules and guidelines. Collaborators are good at running customer-service oriented business or retail business or any other business where being convincing is an important aspect of getting the job done right.
They do well in structured environment where people are an element of success.
Collaborators are great salesmen in a warm selling market, because they use their sociability to sell their expertise.
- Diplomats: They can be defined as persons who uses skills and sensitivity in dealing with others.
Diplomats are entrepreneurs, who exhibit the quality of social skills coupled with the drive to succeed. They also consider the views of the opposite party while entering into a deal or a transaction.
These entrepreneurs can work easily even under pressure and they prefer to finish work well on time. Diplomats are considered to be the best of the specialist entrepreneurs, as they have both sociability and drive in their personalities.