What Type Of Business Should I Start?
Have you tried to start a business more than once, but something happens, and you end up abandoning the project? In this article, we are going to talk about four types of business personalities and which businesses are the best to start according to each of them. We also provide you with some ideas to undertake in 2024. Do you dare to consider it? Keep reading.
Why think about starting a business? Entrepreneurship is a way to fulfill your life and economic purposes, generating a positive impact on the local, regional, and even global economy. It all depends on the scope you achieve with your venture and the real opportunities that exist in your environment.
In India, entrepreneurs contribute approximately 15-20% to the GDP, generating almost 15% of jobs in the country, which represents a large economic sector to which more and more people are joining to carry out their goals, not only economic but also their life projects.
With this data, we understand that entrepreneurship is a way of life that allows us to find a healthy financial livelihood, in addition to generating jobs for other people and being part of a growing economy.
Personality Types in Business
We know that not all personalities are ideal or adapted to the challenge that entrepreneurship represents. However, there is a classification developed by the American psychologist William Moulton Marston that becomes very useful for understanding our behavior in business and can serve as a guide to place ourselves in a specific type of entrepreneurship that favors our success.
The profiles are the following:
• Dominant
• Influential
• Stable
• Conscientious
1. Dominant
They are people who usually take the reins and enjoy challenges. They make things happen by seeking the necessary solutions. They are competitive and self-confident individuals, although sometimes they can become somewhat stubborn with their ideas.
In business, they like to lead and play an active role in decisions. They seek to take on more and can usually handle multiple projects. Due to these characteristics, they may also fear failure and have a hard time listening to other ideas. However, they are analytical and seek the greater good for their business.
2. Influential
This profile is of extroverted and sociable people. They know how to establish good business relationships, and their character makes it easier. They keep moving and have an enthusiastic approach to generating new business.
An entrepreneur with this profile has a high chance of forming alliances with others and growing their business. They will also have an easier time promoting their business because they are usually very creative.
One of their weak points is the fear of rejection and not having acceptance from others, so they will look for a way to adapt.
3. Stable
These types of people prefer security, so they will always seek tranquility and stability. They are good at listening to others and value loyalty and commitment. They prefer to avoid high risks and seek peaceful labor relations.
In an entrepreneurial project, they may need support from a mentor, but it is possible that they will be able to complete a low-risk business.
4. Conscientious
This is the most analytical profile and is not easily carried away by emotions. They think about their next steps before acting, and they tend to be perfectionists.
This entrepreneur makes decisions seeking to solve problems in the most realistic way possible. They are critical and logical, which is why they have an interesting creative ability. They find different ways to solve problems.
How To Choose The Right Business To Start?
1.Identify your strengths and personality:
Self-knowledge is an essential key to achieving any purpose you have. Knowing what your strengths and weaknesses are allows you to focus on points of improvement to dedicate yourself to enhancing what you already do well and that you also enjoy.
To identify your strengths you can follow these tips:
• Observe what excites you. Of everything you do in your work, in your daily life, notice what excites you, what you put effort into and when you have the most energy.
• Think about what your only touch is. Identify what you do differently from others and point it out.
• Identify your personality type. Looking at the four types that we show you, recognize your temperament for business in one of the four, it does not have to be purely one, you surely have characteristics of a pair. Knowing these characteristics can help you outline your business and your way of carrying it out.
2.Find a business idea:
The business idea is the starting point for your venture, but we can only consider it viable if you can transform it into a business model. To find a good business idea, you basically have to explore how to satisfy a need in the market.
It's not just about thinking of an idea that seems attractive or unusual to you; rather, you should focus on making it viable.
3. Validate your idea:
Once you have developed your business idea, you must validate it in the market and with your target audience. This part is about creating a prototype of your business and launching it as a promotion to a certain group of people to see if they would be willing to pay for that product or service.
At this time, it may be convenient for you to shape your business model because, if it is a viable concept, you will need to take into account the steps you should follow.
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Businesses To Start According To Your Personality
Now, we will talk about some types of businesses and how each personality type adapts to developing them. I am sure that you have already identified some of your characteristics, and as I mentioned at the beginning, it is not necessarily a pure profile that defines your personality, but it is interesting to find reference points.
Solo business
Many businesses and ventures start alone, and there are several options to begin without having to discuss a path to follow with your partners.
You can initiate these types of ventures from home using a computer and setting your own rules. Depending on the growth of the business, you can decide whom to work with and how to do it or not.
The personality that goes well with this type of business is the dominant one since you will be the owner of your decisions and can advance at your own pace. However, a profile like the stable one would also feel comfortable working alone and feeling secure.
Customer service business
There is a great opportunity in customer service to start a venture as an external consultant or set up a type of agency for different companies. Regardless of the business model, the personality best suited for working with clients and providing care is the influential one, as they will feel comfortable creating interpersonal relationships.
Risky business
The characteristic of these types of businesses is uncertainty. They generally require making risky decisions, such as investing, hiring, and moving quickly. Technology businesses or startups usually have this rhythm. Financial ventures also have that nature. Dominant personalities can feel comfortable in these situations, and influencers could do well too.
Socially conscious businesses
The influential personality usually fits very well in businesses that have social responsibility programs since good management of interpersonal relationships is required. However, a conscientious personality can also be a great analyst of strategies with a social cause, thanks to their perfectionism and perseverance.
It is a fact that we cannot pigeonhole ourselves into a single classification, and we can continue to develop skills that allow us to improve our entrepreneurial spirit. But I am sure that you can identify your tastes and strengths a little, and that is what will give your business its own style and personal touch.
Businesses to start in 2024 in india
Now, here's a short list of ideas to kickstart your entrepreneurship in 2024, considering your strengths
Solo Business:
• SEO Content Writer
• Social Media Scheduler for Realtors
• Virtual Assistant for Busy Professionals
• Data Entry and Processing Specialist
Customer Service Business:
• Medical Appointment Scheduling Specialist
• Luxury Brand E-commerce Customer Support
• Chatbot Development Consulting
• Social Media Crisis Management for Businesses
Risky or Higher Investment Businesses:
• Online Tutoring Platform
• Personalized Meal Kit Delivery Service
• VR Fitness Studio
• Sustainable Food Waste Upcycling Facility
With Social Conscience:
• Affordable Mental Health Therapy App
• Accessible Educational Resources Platform
• Community Supported Agriculture Farm
•,Microfinance Platform for Local Entrepreneurs
Conclusions
Starting a business always carries certain risks but also many satisfactions. Being able to start your own business will allow you to discover your capabilities, and your personality characteristics will not hinder you from achieving what you desire.
We invite you to explore your potential in the online world by starting your own business.
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