There are a lot of paths to business success. Every entrepreneur is different in his or her passion, drive and approach to running a business. Here are a few of the types of entrepreneurs I’ve encountered. Which fits you best?
Lifestyle-lovin’ Linda
Linda wakes up late, enjoys a leisurely latte and then works a few hours on her lifestyle business. She can take her kids to school and is free to go to the museum in the afternoon if she wants to. She’s not an entrepreneur to make big bucks; she simply wants to live a balanced life with plenty of free time.
Money-making Marvin
Marvin couldn’t be more different from Linda. His No. 1 goal is to make money with his business. Lots of it. He’ll cut costs (sometimes with the unintended consequence of stunting his business’s growth) and hike up prices. He’s not necessarily in it to sell and get out; he wants to be a millionaire before he turns 40, and if that means running the business for years, he’ll do it.
Baby boomer Barry
Barry’s had a successful career in his field, and now that he’s got his pension, he’s ready for something different. He started a business doing something he’s got a lot of experience doing, as well as something he enjoys. But it’s not a high-stress business; he’s happy riding through his so-called “retirement years” making enough to take a few vacations and pay the mortgage on his Florida retreat.
Family Fanny
Fanny’s business is all in the family. She’s the second-generation owner of her business, and plans to hand it down to her kids when they’re old enough. Fanny looks to her family to make important business decisions, and for the most part, everyone agrees on them.
Be-my-own-boss(y) Brenda
Brenda despised working for other people (they were all idiots). She knew she could do a better job running a company than any boss she had. So she started a business. Now it’s her way or the highway. She’s got clear-cut ideas about how she wants to grow the company, and isn’t interested in input from her staff.
Accidental Al
Al fell into entrepreneurship by accident, and he’s had good luck ever since. He turned a profit within months, and his business is growing like gangbusters.
Opportunist Ophelia
When Ophelia sees an opportunity, she snatches it up. That means she’s started several businesses, not all of which were a success. She rides out an idea until it’s exhausted, then looks for the next money-maker.
Lifetime Larry
Larry started a business fairly young, and he’s content to run the business until he’s ready to retire (at 80 or so). He knows nothing beyond the industry he’s worked in for decades, and he likes that just fine.
Innovative Ima
Ima stays tapped in to breaking news on innovative trends. She was the first in line for the Apple Watch. She’s an idea-generating machine, though she may not be the best choice to handle operations or manage people.
Passionate Patty
Patty launched her business because she wanted to do something she loved. She doesn’t make much money, but she’s genuinely happy when she gets to work each day, and for her, that’s enough.
Solopreneur Suzy
Suzy is her business. While she occasionally hires out freelancers for design or marketing work, she’s happy being a one-woman show. She doesn’t see that as limiting her business’s potential, though she knows if she doesn’t show up to work, nothing gets done.
Serial Sal
Sal has already started six successful startups, and doesn’t look to be slowing down any time soon. He builds up a business then sells it, takes a few months off, then launches another one happily.
No matter what type of entrepreneur you are, enjoy the path. After all, that’s half the fun! ●
Nellie Akalp is co-founder and CEO at CorpNet.com
