Which Type of Entrepreneur Are You?

Summary

• Identify what type of entrepreneur you are: Are you driven by promotions and sales, or do you focus more on product quality and operational excellence?
• Recognize that if you thrive on sales and marketing, and get energized by the pursuit of selling franchises, franchising could still be a suitable option even when you are unsure (at the proverbial 50/50 crossroad).
• Understand that if you are drawn towards investing in people and preferring slower, more substantial growth focused on product and operations, building a self-sustaining business with fewer, high-value offerings may be more in line with your strengths.

Video

How To Take Action

I would suggest first taking a step back and thinking hard about what type of entrepreneur you are. To do that, think about what parts of your business get you excited. If you feel alive when making a sale or closing a deal, you fall into the promotional entrepreneur category. On the other hand, if you're more passionate about the behind-the-scenes work, like improving the product or managing your team, then you're likely an operational leadership entrepreneur.

Once you know your type, take a clear look at your business and see where you're spending your time. If you're a promotional entrepreneur at heart but getting bogged down in operations, it's time to switch things up. Focus on activities that align with sales and marketing. You might even consider franchising, which can be exciting if you're at that 50/50 crossroad and want to expand through sales.

If you're an operational entrepreneur, lean into that! A good way of doing this is by investing in your team and refining your processes. Focus on offering fewer, high-value products or services that really stand out in the market. This can lead to a type of growth that's slower but more substantial because it's rooted in quality.

For both types, remember to delegate tasks that don't fit your strengths. This doesn't require much money or time—just the will to let go and trust your team. This way, you can focus on the work that energizes you the most, which in turn can drive your business towards more meaningful success.

Quotes by Alex Hormozi

"which type of entrepreneur are you"

– Alex Hormozi

"are you more of a promotional entrepreneur so you love the sales and the marketing and selling the franchises"

– Alex Hormozi

"or are you more of a product-driven operational leadership driven entrepreneur"

– Alex Hormozi

"if I look at an entrepreneur and they're super promotion driven they love selling"

– Alex Hormozi

"if there's somebody who's a little more product driven a little more leadership driven like love the Ops"

– Alex Hormozi

Full Transcript

which type of entrepreneur are you are you more of a promotional entrepreneur so you love the sales and the marketing and selling the franchises selling the franchises or are you more of a product-driven operational leadership driven entrepreneur who's like cool with a longer time R and just loves investing in people and building kind of a big thing if I look at an entrepreneur and they're super promotion driven they love selling they love they love the sizzle they love the the hunt right of selling franchises then franchising when I'm at 50/50 might still be the right play on the flip side if there's somebody who's a little more product driven a little more leadership driven like love the Ops all that kind of stuff then it might be more of a self-sustained lower number higher value play