What type of business owner are you or work for?
I normally can be found at my computer in the early AM skimming a variety of blogs, mostly about marketing or small business ownership and how they can survive to own the company for another day. Hey, we’re all looking for business solutions.
This particular morning I stopped my skimming when I came across a Marketing Prof’s post titled “The Four Types of Business Owners.” My first reaction – there are more than four types. The successful business owner is a mix of many attitudes required to succeed in their industry. Read on and let me prove my point. I also want to hear what you think.
To give you an idea about the post, the article’s first two paragraphs are as follows:
The four profiles are based on data from a survey of 850 US small business owners (50% B2C-focused, 28% B2B, 22% hybrid) that explored respondents’ feelings about ownership, goals, challenges, and resources.”
The four types of business owners are…
1) Passionate Creators care deeply about what they do, 2) Freedom Seekers are people who primarily started their businesses to control their own fates, 3) Legacy Builders started their business with a family member, and 4) Struggling Survivors have significant concerns about the value of owning a small business.
Here’s my take, obviously with a slant toward marketing…
In order to become successful, a small business owner must constantly strive for:
- better response rates
- open rates
- lifetime value
In small business marketing, there are plenty of tactical choices from:
- subject lines
- offered premiums
- envelope sizes
- list selects
- the placement of the shopping cart or a landing page on the website
- the use of social media
The choices are endless in both categories.
What do you think?
Of the four business types, the Passionate Creators, Freedom Seekers, and Legacy Builders, in my opinion, are the best equipped to succeed. However, if you put all three of them into one profile, you are going to have a very successful business owner. It’s even likely with a combination of the first two.
Companies who place a value on great marketing have taken time to learn from their customers what makes their product or services better than the competition. It’s one of the many things that lead to bigger and better business.
These same companies are willing make adjustments to increase their return on investment. There is a lot of creativity that goes into leading a small business. Interpreting data with creativity is one. If owners are not passionate about their business, how long will they last?
A small business owner has the freedom to react quickly to the competition or to a change in a government regulation. There is no reason to jump through hoops and wait for others to make their decision. Building a better product as customer profiles change, proves the owner is on a course for success.
I would like to hear your opinion.
What type of business owner are you or if you work in a small business, what is your owner type? If none of the above, please describe.
Please add yours to the comment section below. Based on your comments, I will share the results in a future post.
I am definitely a combination of the first three types of small business owners, and base it on my 30 years in business this month and the thousands owners I have met. To help you make a determination, here is the link to the complete article:
Thanks for reading and please share with others – except your competition! It is truly appreciated.
Everything marketing starts and ends with your customers… cater to them, listen to them and react to them. The results will amaze you.