3 Models Of Entrepreneurship: Why Unicorn-Builders Do Better Than Unicorn-Starters

The conventional wisdom is that there are two kinds of entrepreneurs:

· Small-Midsized Business Owners (SMB): They comprise the bulk of entrepreneurs

· Unicorn-Starters (U-Starters): This type uses the Silicon-Valley-style venture-development method to build a unicorn with capital-as-a-weapon. It seeks first-mover ideas, minimum viable products (MVP), product-market combinations, angel capital, (AC), and venture capital (VC). In this method, entrepreneurs start the ventures, seek VC, and are replaced by professional CEOs. This method accounted for 6% of Billion-Dollar Entrepreneurs (BDEs), i.e., entrepreneurs who started and built ventures from startup to more than $1 billion in sales and valuation. Examples include Earl Bakken (Medtronic) and Pierre

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