The 5 Types Of Small Business Owners

I’ve worked with thousands of small business owners over the past 7 years and I’ve discovered there are FIVE primary types.

Each comes with different strengths and weaknesses, so take a look and see which one resonates with you.

The Starter.

Most small business owners are naturally creative people. They get excited about exploring new ideas. The creative process can extremely energising and for many Starters a wonderful distraction from the day to day grind.

Starters typically get SUPER EXCITED about a NEW IDEA and start to dream about the possibilities and dollars that could potentially be realised with their new brainwave.

For a starter the planning process, sharing the concept and daydreaming about the potential results is the most stimulating part.

As they move closer to needing to start to do the WORK that will be required to turn idea into a reality their enthusiasm begins to drain.

One of the positive part of being a STARTER is their ability to come up with innovative ideas that COULD provide a real competitive advantage or add a substantial income stream.

The obvious negative, is that STARTERS seldom ever see an idea all the way through to fruition and will usually abandon it before it ever has the chance to deliver a result. Instead starting something new that will keep them entertained and excited.

If you’re a natural Starter, “An Ideas Person” it’s important to connect with someone who can see your ideas through to completion, otherwise you run the real risk of never seeing your ideas realised.

The Procrastinator.

The Procrastinator is always going to get started but before they do, they usually need to clean something up first.

The Procrastinator spends a lot of time planning, thinking, and analysing, but seldom anytime implementing.

They often find themselves trapped in AIMING mode.

The strength of a Procrastinator is they often have done the research, they understand the opportunities, but they lack the commitment to put what they KNOW should be done into action.

Instead, they tend to busy themselves with an endless stream of low-level tasks that they will convince themselves and others need to be addressed before they can move forward.

If you know you’re a Procrastinator, it may be time to stop avoiding what you KNOW needs to be done and move your focus from all the small stuff to the ONE big thing that will make a difference.

The Perfectionist

The Perfectionist is NEVER satisfied and completely terrified of the idea of failure. They are constantly polishing and improving a product or service before it’s released.

The Perfectionist is in a constant wrestle between the idea of quality and speed to market. As a result, they often miss opportunities because they spend so long polishing an idea, that by the time they act the opportunity is gone.

If you want something done REALLY well give it to a Perfectionist, as they are obsessed with making things just right. They pay careful attention to every detail. They are great brand builders because they are so particular about the way everything looks and feels.

They want it to be PERFECT.

The issue with being a Perfectionist is that it can slow you down tremendously and at times opportunities will have come and gone before the Perfectionist ever gets their act into gear.

Quality matters and consistency is important, but the perfect product or service will be of little consolation if no one gets to experience it.

Shiny Object Chaser (SOC)

The Shiny Object Chasers are the small business owners who are easily distracted and knocked off course by the latest thing, idea, or tool.

If want to know about the latest cool gadget that’s going to help them to do more in less time, make more money or win more clients they will know.

They are always looking for the magic potion, the silver bullet or latest new thing on the market. The clear strength of SOC is they have great awareness of the people, products and programs out there.

The weakness is they find it had to build any real momentum in their business because they seldom keep their shoulder to the wheel longer enough to create a meaningful breakthrough.

SOC are bright people who love learning, they enjoy being an early adopter but they often jump from one thing to the next with no real plan of attack.

Typically, SOC invest a lot more than they make, because they never stick with anyone one idea long enough to enjoy success, instead they get their adrenalin shot from the next big thing.

Action taker

Action takers are focused on doing what matters most and are willing to fail faster!

They are natural risk takers and will often bite off more than they can chew, believing this is the only way to build a business.

Action Takers live the Ready Fire Aim philosophy and understand that the fastest way to learn is to do. They will typically sell something first and build it second.

The strength of an Action Taker is they make things happen, they are bold and brave and willing to make mistakes in the pursuit of a goal.

The weakness of an action taker is they can often make a mess and often act before they form a clear plan. They need good people around them to tidy up the loose ends and ensure that everything that gets promised, gets delivered.

If you’re a natural action taker you may do well to spend at least a little time in planning mode before you hit the go button.

So, what does this all mean in business?

In the end every small business owner type listed above comes with its own strengths and weaknesses. The truth is most small business owners are a blend of types with one dominant style.

What this means is that it can be really helpful to identify your natural style, and then decide what other traits you need to employ to enjoy greater success in your business!

I would love to chat with you further in my online community - my Like Minded Business Owners Facebook group ! Or, let’s hang out and get social on social – you’ll find me on Instagram , Facebook and my fave LinkedIn .

CONTACT JENN:

If you feel you need some clarity, direction and strategy in your business, please reach out! Simply book a discovery call with me here !

And don’t forget to go and join my Like Minded Business Owners Facebook group. The community of people are so great, and it’s awesome to be able to make connections with other small business owners.

Or you can DM me on Instagram or send me an email [email protected]

I wish to acknowledge?the Traditional Custodians of the land, the Yorta Yorta People, on which I conduct my business today and pay my respects to their Elders past and present. I extend that respect to Aboriginal and Torres Strait Islander peoples reading this blog post today.

About the Author:

Jenn Donovan of Social Media & Marketing Australia.?Jenn’s an expert marketing coach and mentor from rural NSW. She is all about empowering business owners to earn what they’re worth so they can make a bigger difference in the world.?The Founder of Buy From a Bush Business, Co-Founder of Spend With Us – Buy From a Bush Business Marketplace and host of the very popular podcast Small Business Made Simple , Jenn is all about community and humans interacting with humans!?H2H Marketing – human to human marketing. Jenn talks the talk but importantly walks the walk! Jenn’s online community is over 320,000 with her famous Facebook Group currently at almost 365,000 members and still growing every day.?She’s the mayor of her own little online city!

Get in touch – www.socialmediaandmarketing.com.au

On Instagram - @jenndonovan_

On Facebook – Jenn Donovan

Or on LinkedIn as Jenn Donovan