I get to meet and interact with many budding entrepreneurs and more often the question that’s often asked is: where are the business opportunities, where can they make money or what kind of business should they start. This is always a challenging because one hand its easy to name where the opportunities are, the list is available, in fact you can make money in any business you decide to go into, you can make money in retail business much as you can make money in unconventional businesses such as garbage disposal. On the other hand the challenge answering this question is: which business opportunity is more suitable for you, because quiet frankly not all business opportunities out there are suitable for you. Firstly you need to know yourself (your personality type) before you can decide which opportunity is more suited for you.
There are various type of entrepreneurs or wealth creators. Once you know your personality type, it becomes easier to know what type of business venture will appeal to you. Some entrepreneurs are introverts and others extroverts, the notion that to be a successful entrepreneur you need to be an extrovert is a myth, if anything, recent history has proven that even introverts such as Mark Zuikerberg, Bill Gates are introverts and successful entrepreneurs.
So what are the benefits of understanding your personality type?
1. You learn to trust your energy and go with the flow.
2. You learn to do what comes naturally and easy to you.
3. You learn to recognise your talents.
4. You get your complement personality types to do the hard work. Remember
5. for them it is easy. If they had to do your job they would find it challenging.
6. You suffer less stress – you find it easier to stay relaxed.
7. You get energised from work – rather than work tiring you out.
8. You make a lot more money.
9. And you have more fun.
10. And you have better relationships.
So what is your Wealth Creation personality type?
The Creator Profile
Creators love to create. These are people who develop new things, products, come up with new innovations and products. Steve Jobs, Mark Shuttleworth, Ludwick Marishane. These are people who are constantly pushing boundaries for new products. Their creative energy is often strongest under stress. But creators don’t make the best team managers and are often working on another creation before they haves successfully marketed the last one. Successful Creators delegate everything but the creative process itself.
The Star Profile
Stars like to be in front of people making things up as they go. These are people who use their talent, connections and charisma to build their business empires. Jay-Z uses his rap skills and music to create his wealth. Floyd Mayweather uses his boxing skills to build his wealth. Stars are not immodest in expressing their confidence. The stars, unlike the creators are not the most creative people, they don’t develop new products. A Wealth Dynamics Star is different to a star in the film or music industry or achieve success based on talent. Successful Stars: Oprah Winfrey, the late Michael Jackson.
The Supporter Profile
Do you know Kenny Ortega or Freddie Roach? Chances are you don’t know them or recognise them immediately. These are people who are responsible for making the stars to shine. Kenny Ortega is the director for producing Michael Jackson’s live shows. Quency Jones is well known in the music industry, he hardly sings, but he is responsible for producing successful albums with different artists (stars) such as Michael Jackson, Lionel Richie. Freddie Roach is the trainer Manny Pacquiao, one of the best boxers in the world. The support is comfortable in the background, doesn’t want to be at the centre stage, hardly makes newspaper headlines or is more productive backstage.
Supporters make strong leaders. They have the ability to galvanise a team into action. Supporters give the team members the confidence that they can succeed.
The Deal Maker Profile
Like stars and supporters the deal maker likes to be in front of people. Deal makers are gregarious, constantly networking and looking for opportunities to connect people together. Unlike intuitive thinkers, sensory thinkers live very much in the moment. Deal makers are wheeler and dealers. You will find them working for brokerages.
The Trader Profile
Traders love buying and selling, and making a profit on the deal. Traders need to be aware of both the buy side and sell side for them to be in the flow. Traders are very much sensory based as opposed to the intuitive creators. You will find traders, trading stocks and shares, buying and selling commodities, and renovating real estate. Example of traders includes: Andile Mazwai, Chris Gardner, George Soros etc.
The Accumulator Profile
Accumulators, even more so that traders like to gather information. Whereas traders make money from buying and selling the accumulator makes money from buying and holding onto an appreciating asset. Accumulators can take a long time in arriving at a decision because they feel they still need more data. Accumulators are very much down-to-earth in contrast to the creator and the star.
The Lord Profile
In law terms, the most learned person in the courtroom is the judge, often he is referred to as The Lord. The Lords are those who use their education to build their wealth. They are usually highly qualified and usually rise through the ranks as corporate entrepreneurs until they venture on their own or remain championing new ventures within their employment. These are individuals who debunk the myth that educated people are seldom wealthy.
The Mechanic Profile
Where the creator builds something, the mechanic improves upon it. Mechanics love working with systems and improving upon them. When Raymond Ackerman started Pick’n Pay, his vision was to show other retailers how to build and run a successful retail store. Kaizer Motaung (founder of Kaizer Chiefs) did not invent soccer, he started a soccer team and he is one of the successful soccer owners/administrators). The mechanics improve and perfect systems that already exists.
When you know your personality type, it makes it easier to know which industry or business opportunity to pursue. What personality type(s) are you? What type of an entrepreneur are you?