If you’re wondering what type of entrepreneur are you and what type of business is right for you, then read this article through the very end.
There are 4 types of entrepreneurs based on your personality, your goals & aspirations:
1. Mission Based Entrepreneurs are looking to right some wrongs in the world, to move people away from something negative in their life.
There is a cause that you want to support, some type of evil that you want to eliminate to support and help people. It’ a mission that you’ve been called to serve.
Mission based entrepreneurs are something to be admired but they do have what I would call a blind side or a shadow side as they often struggle with the fact that they are so drawn to the mission that in many cases they neglect the financial side of their business and walk away broke.
If you are this type of entrepreneur, you need to be aware of this to make sure you recognize it on time and take the necessary measures to correct it.
2. Passion Based Entrepreneurs are all about moving people toward something positive, something that they love, a passion they truly believe in, something that will enhance peoples’ lives.
The passion entrepreneurs have a dark side as well as they often struggle with the fact that once they turn their passion into a business, that passion now becomes a JOB and they slowly start to lose their passion. So you need to be mindful, be careful when this comes up.
3. Opportunity Based Entrepreneurs are the type of people who see opportunities around them all the time, constantly asking themselves, how is it that nobody has solved this problem?
They may not have the mission or the passion that draws them at the core of their being but opportunity entrepreneurs have a million ideas and often times they’re pulled in many different directions trying to figure out what is the next opportunity to pursue.
The negative side of being an opportunity based entrepreneur is this feeling of being empty inside.
You may build a business that makes you financially secure but if you don’t build a business that fuels your soul, you’ll start to wonder why did you spend so much time running a business that leaves you unfulfilled, what is the point?
4. Undecided Entrepreneurs are people who know they want to start a business but they’re just not sure what type of business they want to get started with.
They’re tired working for someone else and have decided that they want to start their own business and live life on their own terms.
The undecided entrepreneur often struggles with what we call analysis paralysis as he passes on from one business idea to another and struggles to get anything off the ground.
For undecided entrepreneurs it’s better to start a practice business and just pick something so you can learn the process of how to run a business.
Figuring out what kind of entrepreneur you are is just the first half of the equation. The second half of the equation is what type of business makes sense for you based on who you are.
There are 4 types of businesses that might fit your entrepreneur style:
1. Product Focused Businesses are the type of businesses where we are selling physical & digital products to a large number of people.
If you’re selling an e-commerce product or a digital affiliate product, you might not have a close relationship with your customers but it allows you to reach ten thousands, hundred thousands and sometimes even millions of people around the world.
2. Client Focused Businesses are the type of businesses where you are working with a small number of clients but you are impacting this small number of people in a very deep and profound way.
You have a close relationship with your customers, you know every single one of them by name, you are doing some form of one on one coaching or consulting with your clients.
3. Membership Focused Businesses are the type of businesses where you create a paid membership or community that you are working with and maintaining on a monthly, yearly bases.
You are building an online community of people with which you have an on-going, current relationship.
You’re not necessarily interacting with your customers one on one but they’re more than just an order form for a physical or digital product.
They are members of your community which can start small but grow exponentially over time.
4. Event Focused Businesses are the type of businesses that have a start and a stop to them where you are doing business with people in a very short & concentrated amount of time.
Contrary to a membership focused business, an event focused business has a start date and an end date and then you are done until you decide to start another event in the future.
If you are the type that likes to work really hard for a concentrated period of time and then would like to have some time off, then this might be the right business for you.
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