April 23, 2011

Entrepreneurs, do you know your business DNA?

Entrepreneurial DNA: The Breakthrough Discovery that Aligns Your Business to Your Unique Strengths
DNA book
If you small business is floundering and you can not figure out why, maybe it has something to do with your entrepreneurial DNA.  You could be trying to run the wrong type of business for your leadership type.  Or you could have the right business for you but you are getting in your won way of success.  Find out what your DNA type is by taking the on-line assessment at www.bosidna.com/test.  Then get Abraham’s book Entrepreneurial DNA to find learn more about yourself, get strategies to capitalize on your strengths and overcome you weaknesses, and build and action plan for success.  While you are waiting for your book order to come in, review the tables below to begin the journey of knowing yourself.

The BOSI (pronounced bossy) DNA Quadrant to find out which other DNA types are best to partner with or have on an advisory board  because they may reflect certain attributes that help them understand their leader’s type strengths or they may possess missing style components that are needed to offset weaknesses in their leader’s type. Same column, same row, or opposite corners may be the best or worst mix depending upon the DNA possessed by potential business partners.  Exactly the same type may be the worst type of partnership since both will have their own ideas on how things should be managed. 

DNA Type
-    Apply the “golden threads of business” to build systems and highly scalable selling ventures
-    A majority of the time is spent working on the business because he/she has people and system who work in the business
-    Natural-born leaders with potential investors, employees, and customers drawn to their vision and brand
-    Work./life balance is generally out-of-balance for an extended period of time, leading to collateral damage
-    If left unchecked, both home and business relationships become strained and fractured
-    Find it extremely hard to ask for help, even harder to back down from an disagreement

-    Very high work ethic when focused on a particular venture, 10-18 hour day don’t scare them
-    Being optimistic towards life, allows him/her to shake off short-term setbacks which gives a market advantage against pessimists
-    Very coachable especially when entering a new industry and seeks out top producers to learn from
-    Saying NO to opportunities is very hard, will continue to cost money time, headaches if left unchecked
-    Doing due diligence on an opportunity is painful, sees analytical people as “slow” and “closed-minded”
-    Tend to juggle too many income opportunities, it is hard for them to pick one venture and focus on it exclusively.

-    Study to excel n their trade and invest in continue education which gives an advantage over some other types
-    Being relatively risk-averse keeps him/her from taking unnecessary risks when unrelated business opportunities come up
-    Recognizes the importance of personal relationships and puts emphasis on building healthy relationships with clients and employees       
-    Gets stuck in the box when it comes to growth strategy, this may prevent the venture from achieving true potential
-    It is hard to transition from an hourly-rate mindset to a leveraged distributions mindset which means having to staff up for the company to grow
-    Tend not to go outside their industry for expertise and advice, this safe strategy prevents them from accessing “game changing” strategies      
-     Pipeline is rich and abundant; given enough time and resources, they can have several new products
-    He/she cares much more about quality then profits, this can create fanatical customer loyalty for the product/brand
-    Expertise makes them credible in the marketplace; investors, employees, and customers are drawn to participate with them
-    Business development is no a strong suit and if left unchecked, the product/service could die
-    Tend to lack a “BS” filter so smooth talkers could convince them to give up unusual control in the company or technology
-    Tend to carry other people’s burdens including employees and customers; if left unchecked can become a source of stress and emotional fatigue

In his book, Abraham encourages business owners, presidents, and CEO’s to have their executive team take both the BOSI test and a DISC assessment to make sure there is a good mix of personalities on the team for better results.  You can find some information on DISC written by other writers on this blog at these resources:  Productivity and Personal Behavioral Style and Simply Said - The Impact of Adapting to Styles.

“They say entrepreneurship isn’t brain surgery. I say it is brain surgery. It is brain surgery you do on yourself – without the anesthesia.” – Joe Abraham

The quadrant, table, and quote above are adaptations and excerpts from tables in the book Entrepreneurial DNA author Joe Abraham, copyright 2011 by The McGraw-Hill Companies, Inc.  Permission to reprint was granted by the publisher. 
Disclaimer: McGraw Hill makes no representation or warranties as to the accuracy of any information contained in the McGraw-Hill material, including any warranties of merchantability or fitness for a particular purpose. In no event shall McGraw-Hill have any liability to any party for special, incidental, tort, or consequential damages arising out of or in connection with the McGraw-Hill Material, even if McGraw-Hill has been advised of the possibility of such damages.

See also To Be Productive blog Disclaimer at bottom of site.

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