Which Of These 2 Entrepreneur Types Are You?
Leandre Larouche
Ghostwriter, Speechwriter, & Copywriter for Political, Business, and Global Leaders | Helping You Play Your Cards Right With Strategic Messaging Architect | Author of The Architecture of Writing
There are 2 types of entrepreneurs.
Market-driven entrepreneurs and self-driven entrepreneurs.
At the extreme, both come with great dangers. Here is why.
Market-driven entrepreneurs don't feel particularly attached to what they sell. They are passionate about solving market problems and racking up the profits.
Self-driven entrepreneurs care more about self-expression. Their business has to be a reflection of who they are and what they stand for.
Although entrepreneurship is a spectrum, most people fall in either one category. Meaning, you're either a market-driven entrepreneur or a self-driven entrepreneur.
For example:
Now comes the caveat. I just gave you very successful examples, i.e., 3 men out of these 4 have net worth in the billions of dollars.
Long-term, sustainable business comes from a combination of market and self drive.
Exclusively market-driven entrepreneurs don't last. They either keep moving from idea to idea, never finding true success, or they burn themselves out. They become a slave to the market.
The market tells us what other people want, and there isn't just one market; there are many, with many segments. Some entrepreneurs try to appeal to the most common denominator in the market; that's a bad strategy for long-term success.
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Exclusively self-driven entrepreneurs don't take off. They either refuse to provide something the market actually wants, or they niche down so much that the total addressable market is minuscule.
This happens a lot in the coaching and consulting space. Entrepreneurs niche down to no end on the basis of who they are. But if there is not enough market for you to sell your products or services, then you don't have a business.
The most successful entrepreneurs start from the self and meet the market where it is. Meaning, they are clear on what they do and why, they set some non-negotiables, and they provide something the market actually wants to pay for.
These hybrid entrepreneurs always keep the self in mind because it is what keeps them going when the journey gets hard—as it inevitably does.
W. Chan Kim and Renee Mauborgne introduced the concept of Blue oceans vs. Red oceans. Blue oceans represent industries yet unknown to the market, which are completely unique. Red oceans represent cut-throat industries selling commodity products or services.
The problem with entrepreneurial extremes is this:
Extremely market-driven entrepreneurs die slaughtered in a red ocean made by someone else.
Extremely self-driven entrepreneurs drown in a blue ocean of their own making.
The solution to this is Leadership Writing. Leadership Writing is writing that speaks to minds and hearts, is audience-centric, and empowers people. It's writing that positions you as a market leader in your field and creates a blue ocean strategy.
Stay tuned for the release of my upcoming introduction to Leadership Writing e-book. Click here to sign up for the Trivium Writing newsletter and be the first to be notified about the release.