Some business owners will do anything to increase profits. Others are working in a field because they genuinely love sharing their knowledge. Still other entrepreneurs are always looking for their next move in the business world. And some simply love inventing and innovating. No two entrepreneurs are alike, but Joe Abraham has identified four basic profiles that most business owners fit into in his book, Entrepreneurial DNA: The Breakthrough Discovery that Aligns Your Business to Your Unique Strengths. See which one best describes you.
The Builder DNA
If you’re driven and always looking to be several steps ahead of your competitors, you may be a Builder. Builders like to create businesses and sell them. They’re not in it for the long haul; instead they’re looking for an exit strategy. They love working, and don’t mind risk. They like to be in control and helping to solve problems. Builders do well in high-growth companies and startups.
On the flip side, Builders don’t like being out of control, and they don’t like it when results fall short of expectations.
The Opportunist DNA
If being at the right place at the right time to make more money excites you, you’re likely an Opportunist. If so, you’re not afraid to put in 10-18 hours of work a day, and you’re great at seeing opportunities ahead of time to take advantage of them. You may do better at growing an existing business rather than starting one of your own.
Opportunists tend to glaze over when it comes time to dig in and do research or analysis of data, and may juggle too many projects at once to really give any one sufficient energy. You may find it hard to find the financial resources for all the opportunities you come across.
The Specialist DNA
I’m a specialist. I know my industry, and am building longevity in my business based on my extensive knowledge of the subject. Specialists are fairly risk-averse, which keeps them safe, if not excessively wealthy. We focus on personal relationships rather than growth for growth’s sake, and invest in our client relationships.
Unfortunately, there are a lot of Specialists in any industry, which makes it harder to stand out. It can be difficult to grow, simply because we may become stuck in our area of expertise and may not know how to expand.
The Innovator DNA
Innovators come up with concepts, inventions and products that become businesses, often by accident. Innovators may not have had any desire to start a business, but their passion for their invention led them to found a company to help people. Innovators focus on quality rather than profits, and often are able to churn out multiple innovations over time.
Because they’re not entrepreneurs at heart, selling, marketing and management may not be an Innovator’s strong suit, which, without the help of the right people, can be detrimental to a business.
Abraham goes into suggestions for getting the most out of your business once you’ve identified your Entrepreneur DNA. It’s a great read, and one that taught me a few things about myself (I’m a Specialist, with a little Innovator).