What Type of Business Owner Are You?

Anna Allan
May 1
5 min read

You may or may not know what type of business owner you are going to be before launching.

Whether or not it is conscious or subconscious, you’re definitely fall under one of four categories.

This is because there is a variety of reasons why people start up a business and, although it can be perceived differently from an external point of view, the reality within a business is often quite different.

The motivation that drives people to start up a business varies from person to person.

The all-important story behind each and every business and the person’s ‘why’ can often become a ‘Unique Selling Point’ (USP) and even if it doesn’t, very much draws people to the business and their owners as a whole.

From this, the whole brand emerges and becomes a very personal thing that should represent the business itself but also the person behind it.

It may well be the case that when business owners do get started their reasons for launching a business continues in the same way, however, there may be times where it’s deviate or pivots to a completely different reason.

By exploring what types of business owners there are, I believe there are four that can be clearly identified.

For Your Own Benefit

The business owners that fall under this category want to break away from what might be perceived as ’normal’ (in whatever way they define that).

They want the flexibility to do what they want, when they want and not have to answer to anyone about their time.

It could be they prefer working early in the morning or late into the evening.

It might be that they’re not prepared to miss out on the school productions but prefer being around more physically for their family.

These people commonly work to live rather than the other way around.

However, it could be seen that the business owner that does it for themselves might also be the opposite to fitting work into the way they wish to live.

They might work to live and be full of ambition. They are likely to want to be their own boss and set a high discipline for themselves.

They could be hugely ambitious, wanting the financial freedom to aim for unlimited potential with the added goal of retiring early.

This type of business owner is likely to pursue a passion of theirs which has purpose to them doing so.

Making a Difference

It takes a certain kind of person to fall under the category that genuinely wants to make a difference in the world.

The business owner that sets out to impact and change the environment positively and improve people's lives hold a different kind of ambition.

It is through giving back to the community that provides the business owner a sense of reward and satisfaction in all that they do.

This could be the driver for them to continue what they do with the results often replacing financial reward for them.

It is not about the money, rather a better place in the future that is focused on.

Quite often, this type of Business Owner will campaign, petition, rally and possibly protest. Raising awareness is key with the solutions offered, having been well researched and delivered.

They are likely to aim to get support from key figures and those who have the remit and authorisation to change policy.

It is not about business that often succeeds overnight, it is definitely a slow burn in which people, slowly, join the thinking and belief that the business is for the greater good.

Legacy

It is the teacher amongst us that will set up a business with the intention of it solely becoming a legacy.

This type of business owner sets out from the start on educating, raising awareness and building something they will be remembered for in a positive way when they pass the business on.

It could be a sentimental feeling or belief that this should be done or it might well be a habit or tradition, such as passing the business through generations of one family.

There may be a secret recipe or tool that sets their business apart from any other others And the legacy that forms becomes the competition in itself to its competitors.

It is not unusual for a business legacy to require to have operated for a lengthy number of years within business and be identifiable and amenable to the community directly supporting it to be entitled to the reference of legacy.

Setting up a legacy business can feel more challenging to get started and it can form the perfect excuse for procrastination because perfection is likely sought and cannot be realised.

Problem Solving

You will have heard a number of business owners advising people that the reason for setting up a business was because they came across a problem which had no solution.

It may be a product that didn’t exist, a service that was hard to find and it could well be either of the two that the person felt they could do much better producing or providing than anybody else.

By choosing a gap in the market or a higher standard of quality or service than competitors creates a niche or USP to enable the business owner to drive their business forward comfortably.

The pain point that the person felt makes it easy for them to develop their business idea and tell the personal story behind it because they have experienced it first-hand.

People will be drawn in to their offering because they know it has been tried and tested personally and the notion of it being good enough for the seller means it is bound to be good enough for the buyer.

It has been said that people are becoming less patient than ever and are ‘wanting everything done yesterday’ and so it is an opportune time to start a business that solves a common problem due to there being nothing out there already or what is being offered is simply not good enough.

Every business will have different objectives and therefore business owners' strategies to achieve these will also vary.

However, the generic processes to implement the strategies are likely to be similar and so regardless of the type of business a person operates, a business owner can find themselves following processes and utilising systems in the same way as others.