The question is: Which game?
The answer is: It depends on which type of entrepreneur you are.
We think there are three types of entrepreneurs: Specializers, Serializers and Synchronizers.
Hear George & Mary-Lynn discuss today’s topic on The BIGG Success Show podcast. Click the player to listen.
iPhone/iPad Podcast Player
[haiku url=”http://traffic.libsyn.com/biggsuccess/00697-051011.mp3″ title=”The BIGG Success Show Podcast #697″]
The game they play
- Specializers play Solitaire. They focus on one business. They strive to master their craft so they can make more money.
- Serializers love Legos. Now we realize that Legos is not technically a game. But serial entrepreneurs love building. They start business after business, always hoping to build something more spectacular the next time.
- Synchronizers are playing Monopoly. They don’t want to own one business; they want a collection. They’re always trying to pass Go, so they can collect $200 and purchase another property.
My favorite game of the three is Solitaire. I just love trying to get better at beating the game.
It’s consistent with your personality. You love to master a craft – whether it’s radio, audio production, website development or consulting. You’re a Specializer, Mary-Lynn.
So what’s your favorite, George?
As many people will find, I have an affinity for two of them. My dad was a builder so I always loved Legos. But Monopoly is definitely my favorite.
It makes sense. You’ve owned multiple businesses for most of your adult life. You’re mostly a Synchronizer.
How they win
There are nuances for how you run your business depending on which type of entrepreneur you are. For example, each one has a unique strategy for winning:
- Specializers win by taking the income from their business and investing passively. By doing this, they diversify their assets which reduces their risk. They also don’t waste precious time away from their core business.
- Serializers will likely invest everything they have to make their first business a BIGG success. Then they take part of that money off the table and invest it passively while pouring the rest of it into their next business.
- Sychronizers win by building a portfolio of businesses. They may never have much money invested in stocks or bonds. They trust themselves more than they trust the markets. So they are constantly directing income from their existing businesses into new businesses.
The key is figuring out how you build from a base of one business, which may represent a huge portion of your total net worth, to a more stable portfolio of assets.
It helps you make more money, more dependably. That’s BIGG success!
What’s your favorite game?