Small Business

Understanding Your Entreprenurial DNA

Guest author blogger Joe Abraham was disturbed the most recent study from the Bureau of Labor Statistics, which found that the number of self-employed individuals has shrunk by 2.1 million since 2006.

Disturbed, but not surprised. He notes, in's Bullish on Books, that the real estate crash, the "disappearing act" of small business bankers and economic regulatory uncertainty have combined to create a downward shift in entrepreneurship.

But there's something else that Abraham says he believes is worse than any of those three things: it's the "pervasive old-school entrepreneurial mentality."

"In my work studying the traits of thousands of entrepreneurs, I found that the leading cause of frustration and failure in the self-employed community is the one-size-fits-all approach to entrepreneurship," Abraham writes. "For centuries entrepreneurs have been placed in one box. In fact, the common mindset has been, 'If it worked for one entrepreneur, it will work for every entrepreneur. After all, entrepreneurs are all the same.' But, is every entrepreneur really the same?"

In his book, "Entrepreneurial DNA: The Breakthrough Discovery that Aligns Your Business to Your Unique Strengths," Abraham outlines what he says are four distinct groups of entrepreneurs, explaining what makes each of them successful. Understanding your own "entrepreneurial DNA" will help increase your chances for success, writes Abraham.