Entrepreneurs can be categorized by a number of dimensions, including the size and scalability of the business, the form of business, whether a business is home-based, brick & mortar, or online, and other dimensions.<\/p>\r\n
It\u2019s tempting to believe that a successful entrepreneurial plan can be used by another entrepreneur to achieve similar success. The problem with this logic is that it assumes that all entrepreneurs are essentially the same. Clearly, that\u2019s not the case. In working with a number of start-ups, \u201cEntrepreneurial DNA\u201d author Joe Abraham realized that although entrepreneurs share common traits, they have distinctly different personalities, and to be successful, the strategy has to match the person. Abraham found that entrepreneurs exhibit one of four distinct types of \"entrepreneurial DNA,\u201d each with its own strengths, weaknesses, and characteristics. In presenting his concept in a TED Talk, Abraham proposed thinking of the DNA types as \u201cpresets on your radio.\u201d Each button is associated with a set of predisposed behaviors and decision-making matrix. And for each preset, there\u2019s a different path to market.<\/p>\r\n
Abraham translated this insight into the BOSI Framework, with four entrepreneurial DNAs:<\/p>\r\n
A builder<\/strong> is, as one would expect, focused on scaling the business quickly. They tend to be serial entrepreneurs, perpetually building and selling businesses, often in completely unrelated industries. To a builder, success is measured in infrastructure terms\u2014for example, office square footage and size of payroll. Builders tend to excel at attracting talent, investors, and customers, but can exhibit a Dr. Jekyll and Mr. Hyde behavior that results in high turnover. As Abraham notes, \u201cif you look back on their history, you see a wake of dead bodies: key employees, spouses, children.\u201d<\/p>\r\n An opportunist<\/strong> measures success in financial terms and is always looking for the next money-making opportunity. Opportunists tend to be impulsive decision makers\u2014for better or worse.<\/p>\r\n Specialists<\/strong> are experts (e.g., accountants, doctors, lawyers) who generally spend their careers in one industry. They measure success based on their personal income. With an aversion to selling, their primary weakness is demand generation.<\/p>\r\n Innovators<\/strong> are the mad scientists of the world. They measure success based on impact; it\u2019s about the mission, not the money. Innovators are often accidental entrepreneurs; their weakness is business operations.\u00a0They often start businesses just for personal satisfaction and the lifestyle.<\/p>\r\n Knowing yourself\u2014your strengths and weaknesses\u2014is key to selecting a business, assembling a team, and developing a strategy that leverages your individual and collective (team\u2019s) entrepreneurial DNA. Specifically, it allows you to work with your strengths and hire to cover your weaknesses.<\/p>\r\n Entrepreneurs can be categorized by a number of dimensions, including the size and scalability of the business, the form of business, whether a business is home-based, brick & mortar, or online, and other dimensions.<\/p>\n It\u2019s tempting to believe that a successful entrepreneurial plan can be used by another entrepreneur to achieve similar success. The problem with this logic is that it assumes that all entrepreneurs are essentially the same. Clearly, that\u2019s not the case. In working with a number of start-ups, \u201cEntrepreneurial DNA\u201d author Joe Abraham realized that although entrepreneurs share common traits, they have distinctly different personalities, and to be successful, the strategy has to match the person. Abraham found that entrepreneurs exhibit one of four distinct types of “entrepreneurial DNA,\u201d each with its own strengths, weaknesses, and characteristics. In presenting his concept in a TED Talk, Abraham proposed thinking of the DNA types as \u201cpresets on your radio.\u201d Each button is associated with a set of predisposed behaviors and decision-making matrix. And for each preset, there\u2019s a different path to market.<\/p>\n Abraham translated this insight into the BOSI Framework, with four entrepreneurial DNAs:<\/p>\n A builder<\/strong> is, as one would expect, focused on scaling the business quickly. They tend to be serial entrepreneurs, perpetually building and selling businesses, often in completely unrelated industries. To a builder, success is measured in infrastructure terms\u2014for example, office square footage and size of payroll. Builders tend to excel at attracting talent, investors, and customers, but can exhibit a Dr. Jekyll and Mr. Hyde behavior that results in high turnover. As Abraham notes, \u201cif you look back on their history, you see a wake of dead bodies: key employees, spouses, children.\u201d<\/p>\n An opportunist<\/strong> measures success in financial terms and is always looking for the next money-making opportunity. Opportunists tend to be impulsive decision makers\u2014for better or worse.<\/p>\n Specialists<\/strong> are experts (e.g., accountants, doctors, lawyers) who generally spend their careers in one industry. They measure success based on their personal income. With an aversion to selling, their primary weakness is demand generation.<\/p>\n Innovators<\/strong> are the mad scientists of the world. They measure success based on impact; it\u2019s about the mission, not the money. Innovators are often accidental entrepreneurs; their weakness is business operations.\u00a0They often start businesses just for personal satisfaction and the lifestyle.<\/p>\n Knowing yourself\u2014your strengths and weaknesses\u2014is key to selecting a business, assembling a team, and developing a strategy that leverages your individual and collective (team\u2019s) entrepreneurial DNA. Specifically, it allows you to work with your strengths and hire to cover your weaknesses.<\/p>\nOpportunists<\/h3>\r\n
Specialists<\/h3>\r\n
Innovators<\/h3>\r\n
Why Does Entrepreneurial DNA Matter?<\/h2>\r\n
Types of Entrepreneurs<\/h2>\n
\n
Builders<\/h3>\n
Opportunists<\/h3>\n
Specialists<\/h3>\n
Innovators<\/h3>\n
Why Does Entrepreneurial DNA Matter?<\/h2>\n