Small and medium-sized enterprises (SME) are the economic engine of many countries. However, relatively little is known about the different types of SMEs. Many government agencies, supply firms, and marketing and communication organizations wrongly assume that all SMEs have a similar approach in doing business, have the same standards and values and prioritize the same things.
The SME sector is made up of distinct types of entrepreneurs, and to gain more insights into these types our specialists have developed BusinessLocus. A model based on large-scale research into the motives, ambitions and values of entrepreneurs that divides SME owners into six practical entrepreneurial styles.
What is the BusinessLocus model?
The model distinguishes six types of entrepreneurs: developers, pragmatists, experts, guardians, hunters and loners. Each segment has its own standards and values, and its own way of relating to the (business) world. Some entrepreneurs place themselves in the middle of their business, for instance, while others refrain from doing so.
The BusinessLocus model confirms the suggestion that SMEs do business based on of different values, motives and incentives. It explains why entrepreneurs do what they do, why they make certain decisions, and why two seemingly similar SMEs can be very different on a closer look.
How does BusinessLocus work?
Through an online questionnaire we are able to determine in which category an entrepreneur fits best. We use the following classifications:
Hardworking, no-nonsense entrepreneurs who do what they enjoy, and have a very strong emotional bond with their business.
Driven, intrinsically motivated entrepreneurs who attach value to continuously developing themselves in both their professional and personal lives.
Primarily young entrepreneurs with an extensive social network who are always in search of new challenges and opportunities.
Self-confident and self-competent entrepreneurs who value their independence, and want to prove their expertise by providing high quality.
Entrepreneurs with a strong sense of responsibility towards both their company and personnel. They enjoy working, but do not find pleasure in their entrepreneurship.
Primarily older entrepreneurs with a very strong desire for freedom and autonomy. They prefer to work alone, and do not have any ambition to grow or innovate.
What does it offer you?
BusinessLocus provides in-depth and detailed information on the diverse types of SME entrepreneurs. This knowledge is beneficial to all those who work with or are connected to SMEs. Traditional segmentation models that focus on company industry, size and stage of the business life cycle cannot accurately describe the complex SME sector or the different kinds of entrepreneurs.
Our BusinessLocus model provides tools for optimizing your approach towards these entrepreneurs, and offers you the opportunity to make data-based decisions in marketing, product development and communication towards this group.
Would you like to know more about BusinessLocus? Please contact us.