Picture Mark Zuckerberg in the movie The Social Network and you’ll see Innovator DNA activating in the entrepreneur. Like most Innovators, he was doing something he loved, when a business opportunity popped up around him. The breakthrough discovery typically drives this entrepreneur in the “lab” of their business – where they want to invent, design and tinker. They would much rather be in the lab of their business than at the cash register or in the business office. They find operating a business draining. They measure success based on the impact their product or service is having on mankind. “It’s not about the money” you’ll hear them say. “I’d do this for free for the rest of my life if I could”. Individuals with high Innovator DNA control most of the great intellectual property of our time. Unfortunately, they hide in dungeons and find it hard to engage in “business” discussions.
Image credit: CC by OnInnovation
So what does this all mean? For centuries the approach to entrepreneurship has been – what worked for one entrepreneur will work for every entrepreneur – because after all, entrepreneurs are all the same. This research has proven that entrepreneurs come in very different profiles. Some of us are Innovator-Builders. Others are Specialist-Opportunists. Knowing your DNA and the DNA of those surrounding you is mission critical to selecting the business, strategy and team best suited for you. Just because it worked for Richard Branson (Opportunist-Builder) or Bill Gates (Specialist-Builder), doesn’t mean it will work for you.
Based on the above classifications, I am an Opportunist-Builder. If you are curious what type of entrepreneur you are, you can take a free assessment on the BOSI DNA website.
This article was originally published on the Red Rocket VC blog, a consulting and financial advisory firm with expertise in serving the startup, digital and venture community.
Image Credit: CC by Col Ford and Natasha de Vere