In my book, there are two types of entrepreneurs — the serious variety who use technology and innovation to disrupt industries and deliver major impacts and revenues, and the lifestyle variety who have swapped a job at a corporate for a startup that delivers incremental improvement on a problem set that is minor in nature.
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Lifestyle entrepreneurs often build companies that end up selling time and expertise rather than a unique product or solution that drives change. Their startups never build an escape velocity — often only generating revenues to cover payroll and expenses and not much more. Serious entrepreneurs are those engaged in building new ways of doing things by solving problems that have not been tackled before and if they are solved, will change the world. They make a daily habit of tilting at windmills — doing what others contemplate as impossible, or at the very least highly improbable, and delivering successful outcomes day after day.
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