Friday, January 8, 2010, 2:59PM ET - U.S. Markets close in 1 hour and 1 minute.
How do they do it? They find a business that suits what I've called their "E-Type," or Entrepreneurial Type.
Based on my experience with thousands of entrepreneurs, I've developed a way of categorizing the different types of entrepreneurial types into nine categories. One of the keys to being a success in your own business is to find a business that fits your personal E-Type.
When most people think about starting a business, they begin with their interests. Let's say you're interested in antiques. Does that mean you should sell antiques, appraise them, or refinish them? Even if you want to sell antiques, should you own a store, sell them on eBay, or go to flea markets? Your interest is clear -- antiques -- but you've got a number of different ways to build a business around that interest.
In today's and tomorrow's column, I'll dissect the nine E-Types I've identified so you can see which one best describes you.
Here are the first four:
Advisor: Lots of people would like to be paid just for giving advice; usually it takes experience or education to be able to do so. Advisors include attorneys, accountants, and financial planners. But many great salespeople also consider themselves -- and are considered by their customers to be -- advisors.
Administrator/Organizer: While the other E-Types are busily designing, building, buying, or selling, it's the administrator who's taking care of the nitty-gritty aspects of a business. This E-Type can work with people -- organizing schedules, closets, or weddings -- or they can work with businesses -- taking care of accounts, databases, or order fulfillment.
Builder/Creator: These E-Types encompass a diverse range of entrepreneurs, from artists to bakers to carpenters to designers to electricians. Whether they work with bricks or bytes, paint or pie crusts, the key is that those who fall in this E-Type are driven to create something tangible that did not exist before.
Caretaker: Our society has a great need to have people and things taken care of, maintained, and assisted. That opens up opportunities for entrepreneurs who are patient and nurturing, whether of people, plants, or property. If you're a person who can be consistent over time and see yours as a helping personality, you may be a care-taker E-type.
I'll discuss the other E-Types tomorrow.








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