Even though it was still profitable and had room to grow, I decided to close my profitable business in 2017. I was in a comfortable position monetarily. Things in life should have been fantastic. But it didn’t work out that way for me. Therefore, I shut down my previous enterprise and embarked on a new one.
In 2018, I was able to grow my startup to a profitable eight-figure level. We consistently broke new ground by expanding our staff and resources each month. Because I was an entrepreneur again, a piece of me felt complete. I also felt discontent in a much larger part of myself. As before, despite the company’s apparent success on the surface, I decided to shut it down in 2019.
Among the many insights I gained during this time was the source of my dissatisfaction and, by extension, the four character traits essential to the success of any enterprise over the long term.
What Can We Learn About These Characters From Their Four Unique Personalities?
Everything I’ve ever done has been under the banner of being an entrepreneur. When I grew up, I knew I had to strike out on my own. I have no idea who I would be or what I would do if I weren’t one of them. This outlook became the centre of my universe. This is wonderful in a few specific contexts. But that’s just one of four personalities essential to running a thriving company.
1. The Business Owner
The entrepreneur is the type of person who will do anything to achieve their goals. Your pride demands that you prove your doubters wrong if they say it can’t be done. This is fantastic news for anyone thinking about launching a new company. The future is in your hands. You can expand your view to take it all in. You make the necessary sacrifices to achieve your goals.
2. The Chief Executive Officer
The chief executive officer (CEO) is the company’s most senior leader, and he or she is a more realistic visionary who plans for the next two to three years by concentrating on how to optimise the company’s internal operations, marketing, and sales. You’re grounded in reality but still able to see the big picture.
3. The Company’s CEO
The owner cares deeply about the company’s success and future, but avoids micromanagement in order to focus on strategic issues.
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4. Investor
The investor, who is mostly a cold, calculating operator who weighs the pros and cons, is the least invested party. They are prepared to put forth the required resources if they believe an endeavour to be rational and profitable. If it doesn’t, they’ll leave.
Here’s Why You Should Accept and Value Each of the Four Types of People You Meet
It’s likely that, if you’re reading this, you identify with one of these characters more so than the others. It’s easy for you to do that. And the others just seem like too much work or wishful thinking to achieve. Because of this, you might conclude that you don’t require their services. Or perhaps you’re thinking about delegating those tasks to other team members so that you can focus on your strengths.
The situation is acceptable, to some extent. In other words, if you have an entrepreneurial spirit, you’ll always be an entrepreneur. Just me. No matter how hard I try, I’ll never be able to fully fulfil the responsibilities of a CEO or business owner. My biggest takeaway from 2019 is how critical it is to fully embrace all four of your personalities and to release any attachment you may have to your default mode of operation.
Associating myself solely as an entrepreneur was unhealthy. It didn’t help me or my company reach our full potential, either. It was useful in getting going and gaining speed, but as soon as we hit a certain point, I started to freak out. No longer is this the case, for I have come to recognise the value of each of my four distinct identities and to know when it is appropriate to give expression to each.
In some situations, you’ll need to think and act like an entrepreneur whether or not that’s your natural bent. At other times, though, you’ll need to assume the CEO’s responsibilities in order to construct systems and expand in a sustainable manner. Sometimes you need to think like a business owner in order to help a company reach its full potential. In order to maximise your resources, you may one day need to enter the world of investing. Absolutely nothing is a done deal at this point. There are bookends to this adventure you’re on. You can only learn to respect and accept each of the four sides of your personality, and figure out which one you need to emphasise at the present time.
If there were a secret to business success, it would be to adopt the traits typically seen in successful company leaders. In my mind, they are like puzzle pieces that, when put together, will reveal the answers to many of your questions. Shortly, you will have a clearer idea of what steps to take, when they should be taken, and how to carry them out.