4 Types of Entrepreneurs and THEIR DARK SIDES #Best Education Page #Online Earning

 There are four different types of entrepreneurs

and you need to know which one you are

whether you have a business already or not,

because each one comes with its own dark side.

So, what you're about to watch

is a clip from an upcoming interview

that I haven't yet published actually, with Ryan Levesque,

a good friend of mine who is the author of Ask,

whose book I've reviewed here on the channel before.

He's got a new book out called Choose

and it's really important for you to understand

what kind of entrepreneur you are,

because like I said, each one comes with it's own pitfall

and it's good to know these things upfront

so you don't set yourself up for failure later.

So, listen in.

Here's Ryan Levesque.

And also, play along.

Which entrepreneur are you

and have you ever been met with the same kinds of pitfalls

that Ryan's talking about?

- There are really four different types of people

that I found who want to start a business.

It's what I call the four different entrepreneurial types.

So, the first type of entrepreneur

is what we call the mission-based entrepreneur.

Mission-based entrepreneurs are drawn to starting a business

because they have a cause that they're passionate about.

It's a cause that they would die on a hill for.

Kristi Kennedy is an example that I talk about in the book.

So, Kristi is a mom who has a son who is autistic

and

he was bullied in school as a young boy.

And so as a mom,

decided that she had to do something about it,

so she went to the school and started to get involved

and one thing lead to another

and she started developing a program

to help eliminating bullying from her child's school,

which lead the school district

to ask if she would do it for the entire school district

which lead the state to ask

if she'd do it for the entire state,

which lead to helping over 2,000 schools around the country

with the program that she's developed

to eliminate bullying in elementary schools.

Now, she's an example

of that mission-based entrepreneur, right,

someone who's drawn to move people

away from something negative in life

and then build a business around it.

And it's in contrast with the second type of of entrepreneur

which is the passion-based entrepreneur.

Passion-based entrepreneurs tend to have something

that they're passionate about.

It's like a hobby or a love,

whether it's Back to the Future and Delorians

or a Lego or playing the guitar

or learning how to paint or whatever it may be,

they've got something that they love

that they're passionate about in their life

and they want to transform that passion into their vocation.

So, examples are like Charlie Wallace.

Charlie is a story I tell in the book.

Charlie is a traveling musician.

He's part of a heavy metal rock band

and to make a little bit of extra money,

he started teaching people how to play guitar online.

Well, he ended up growing that into a business

that makes over $2 million a year.

They just released their first LP

and it landed on the Billboard Charts,

hard rock Billboard Charts at like number 13.

He was named one of the top 30 entrepreneurs

under the age of 30 by Forbes

and he's just on this rocket ship.

And it all started with this passion

around playing the guitar

that he transformed into his business.

So, that's the passion-based.

Now, the difference between the two,

are mission-based entrepreneurs typically wanna move people

away from something negative in life,

passion-based entrepreneurs wanna move people

towards something positive that they love.

Those are both in contrast

with the third type of entrepreneur

which is the most classic entrepreneur

in the sense of the word,

which is the opportunity-based entrepreneur.

Opportunity-based entrepreneurs

don't necessarily have a mission or a passion

that they're drawn to.

They're the type of person

that sees opportunity everywhere, right.

They're the type of the person that says,

how is that nobody has built a collapsible stand

to hold a camera when you're traveling

so you can shoot selfie videos.

Like, how is it that nobody has built something like this?

Let's create that, right?

So, opportunity-based entrepreneurs

tend to see gaps in the marketplace

and ask themselves that question,

how is it that nobody's done this.

And the fourth and final type of entrepreneurs,

actually the type of entrepreneur

that I consider myself to be,

and it's what we call the undecided entrepreneur.

Now, the undecided entrepreneur

is someone who knows they want to start a business,

they know they want to go into business for themselves

but they just don't know what that would be.

Like, they're in love with idea of being their own boss,

having their own business,

making their own hours, having that freedom,

but as far as what type of business

or what market to go into,

they're really undecided.

Now, that's who I was when I first got started

and anyone in that situation,

what I recommend as the prescription,

is to start what I call a practice business.

Now, just like learning how to drive a car,

you don't, most of us didn't learn how to drive a car

in our dream car, our forever car, right?

Like, we learned in an old beater.

Like, for me it was an old jeep,

rusted out floor, stick shift,

that's what I learned how to drive.

But here's the thing,

the skill of driving, learning that skill to drive a car,

is something that you carry with you

for the rest of your life.

So, even if that first business that you start

isn't your dream business, your forever business,

you're learning the skills, you're learning the steps

just like learning how to drive,

you're learning the process that you can transfer

into your forever business.

Each of these four types has a shadow side.

There's a shadow side to watch out for.

Mission-based entrepreneur,

if you fall into that mission-based bucket,

the thing that you need to watch out for

is mission-based entrepreneurs tend to struggle

with making money.

They're so drawn to the mission that they have in life

that they put making money

as being secondary to that mission

and so they end up building a business

that doesn't give them what they want out of life.

It doesn't allow them to have the freedom they want

or make the impact or leave the legacy that they want

because they're so drawn to the mission

and they struggle with charging

for what it is they wanna do.

Passion-based entrepreneurs

tend to fall in love with their passion

and building a business around it runs the risk

of leading to you to become dispassionate about that thing.

Like for example, if you love painting

and you build a business around teaching people how to paint

and suddenly that's your J-O-B, that's your job,

and you need to make money doing that,

you can lose the love that you once had about painting

and so you need to be careful around that thing.

Opportunity-based entrepreneurs

need to be careful that you don't just,

and maybe you experience this in the lead exam business

where it's a way to make money but one day you wake up

and you ask yourself and you say,

what the hell am I doing with my life?

Like is this is really what I was put on this Earth to do?

And you wake up one day and say,

yeah, I've made some good money doing this

but is this my calling?

And you sort of have this crisis of identity

that can happen.

And the undecided entrepreneur,

the thing that you need to watch out there,

is the just analysis paralysis.

It's just swimming in that forever sea

of maybe this business, maybe that business,

maybe this business, maybe that business,

and never actually picking something

and taking the steps to move forward.

So once you kind of identify who you are,

you can be aware of the shadow side to watch out for

and just notice those signs in you that can hold you back

from doing what it is that you want to do.

- All right, so that's just a clip

from the podcast that's gonna come out

and published later on the Smart Passive Income Podcast.

I'll put a link to that below

so you can subscribe and get it when it does come out later.

Also, I wanna know in the comment section below,

which kind of entrepreneur are you?

Are you a mission-based entrepreneur?

Are you a passion-based entrepreneur?

Are you an opportunity-based entrepreneur?

Or are you an undecided entrepreneur?

Also, no matter what kind of entrepreneur you are,

I know that there's videos here on this channel

in the archive and coming out

that can serve you as an entrepreneur.

That's why I'm here.

I'm here to serve you

so make sure you hit that subscribe button,

hit that bell notification icon,

and hit that like button too if you did enjoy this video.

Thank you so much, I appreciate you.

And as always, Team Flynn for the Win.

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