Business owners

[Meyer]

Any INTJ business owners out there? If so what do you find are the most and least rewarding aspects of it? My father, brother(both ENTPS) and I are starting a business along with some help from my bros girlfriend(a very strong INTJ). Of course we have not even begun yet and I am already feeling out friends around the country so we can go nationwide. ;).

[INTroJect]

I owned rental property. Didnt like dealing with the tenants so I put up with it for 2 years so as to not have to pay capital gains tax and then sold it. I found the tenants to be annoying and unpredictable and im not sure they liked me too much either.

[Warren_Wong]

I'm a cofounder for a website business with a friend of mine. My favorite part is that I can try out all sorts of theories, fail, and not have it be okay. You get rewarded for the one idea that works.

I think that's the perfect thing for an INTJ. Almost kind of like finding a cure for cancer or something. :)

[mind_wander]

I'm a cofounder for a website business with a friend of mine. My favorite part is that I can try out all sorts of theories, fail, and not have it be okay. You get rewarded for the one idea that works.

I think that's the perfect thing for an INTJ. Almost kind of like finding a cure for cancer or something. :)

INTj's love to sort out the theories and find the right one.

[INTJohn]

I started my business from scratch in 1990. I'm a Professional Land Surveyor/ Geodetic Engineer but my profession does not define me. Its just a very nice fit with my overall Lifestyle and philosophy. I have no staff (employees are a total pain in the ass) and perform all the work myself. I work, predominately on larger acreage wilderness tracts and recreational properties in remote areas and sometimes I'll go days without talking to someone face to face. Very scenic work environ that keeps me far from "civilization". I never wanted to be one of the "worker bees" in the American "Rat Race" Society and I accomplished that goal.

Self Enjoyment is Heaven - I could never work for anyone ever again - I would die first.

INTJohn

[mind_wander]

I am just throwing in this for fun, although this happens to me alot. I managed to influenced people (so many emotional or other personalities) and mostly come up with a huge list of questions, for me to answer, "Hey, I got a question and could you please answer it, thanx." Although, I do wanted to say, "Do you see a sign behind my back, hey, got questions and you will sure to received a valid answer, ASAP." I wondered, if could turned this into a business, I am no professional, since people does sure got alot of questions for me to answer, "Please give me money with a question, then you sure to received an valid answer." Alot of this have to deal with the INTJ thing, not sure why so many people does attracted to INTJ's, more for questions purposes.

[Warren_Wong]

I am just throwing in this for fun, although this happens to me alot. I managed to influenced people (so many emotional or other personalities) and mostly come up with a huge list of questions, for me to answer, "Hey, I got a question and could you please answer it, thanx." Although, I do wanted to say, "Do you see a sign behind my back, hey, got questions and you will sure to received a valid answer, ASAP." I wondered, if could turned this into a business, I am no professional, since people does sure got alot of questions for me to answer, "Please give me money with a question, then you sure to received an valid answer." Alot of this have to deal with the INTJ thing, not sure why so many people does attracted to INTJ's, more for questions purposes.

Sure, you can easily start a question/answer website. Whenever someone has a question for you, tell them to ask you on your website. If what you say is true, then your following should grow eventually :)

[mind_wander]

Sure, you can easily start a question/answer website. Whenever someone has a question for you, tell them to ask you on your website. If what you say is true, then your following should grow eventually :)

Yeah, that is so true. INTJ's are like great magnets; come right in, "Do you got questions?", "We got answers!"

[banzai]

I run a network consulting business.

Best parts are certainly the fact that you can do work on your own efficient schedule. :)

[mind_wander]

I run a network consulting business.

Best parts are certainly the fact that you can do work on your own efficient schedule. :)

Oh cool, I think thats pretty much we are good for; people has problems, more questions, INTJ we got more answers. Oh yeah, its up for the person to do the implementation; plus they pay you the big bucks, for helping them to think outside the box.

[notoppings]

I've been in business off and on since 1984.
My first business venture was a coupon book in 1984 (I was 20 with no college). I put together a binding contract with local retailers to place three coupons in the book one free item one buy one get one free item and one % off coupon. Cost to merchant zero. Also if a merchant wished to advertise in the book with other coupons or placement preference (first in their category)
they could pay a fee. Approached the publisher and got a price based on sells and free placement of prominent advertising for them. My book was sold by the Boys scouts of America for fund raising they received 30% that is more then they usually received from other fund raising projects.

Everything went well sold two printings four months apart then was approached by an investment group and sold it to them for a good profit.

With profit bought a restaurant sold it bought and sold three total after that through the next few years several other businesses to date including a furniture store and bed and breakfast (my first failure).

Current project is a franchise have done all my homework have received all my bank funding am going into a new mall complex with 37,000 cars driving by a day 47,000 homes with a population of 108,00 people average mean income of 78,000 dollars with over 40% over 100,000 dollars. Two competing businesses within five miles.
A gap in service of $5,591,000 dollars (Means people go out of their five mile radius to give dollars to my type of business) my contracted space is 3500sf at 16.00 a sf lease
works out to 4600.00 a month rent.

If anyone is interested in following my franchise adventure let me know and I'll start a thread that will follow my step by step. Will complete construction and have my Grand Opening in January of 09.

[Max T]

Great stuff, notoppings- a rare serial entrepreneur heh?

I've tried to launch three inventive ideas and failed each time.
The problem is that, perhaps being an INTJ, I have an urge to only bring very original ideas to market. This obviously carries high risk and requires a breadth of skills that I lack. Couldn't muster the enthusiasm to start a general food store.

Now a franchise makes good commercial sense- sure creativity is stifled as the success lies in doing nearly exactly what the franchisor advises, but the concept is well tested (v. low risk) and scalable.


If anyone is interested in following my franchise adventure let me know and I'll start a thread that will follow my step by step.
Certainly it would be generous of you to talk about your franchise experience in a thread for the benefit of others...if you could find the time outside of running the thing! :)


After failing to start my own venture, I'm instead starting a business that owns several other businesses- a small investment fund buying bits of listed companies.
It won't achieve the 100%+ p.a. returns that a start-up is capable of in the early years, but will compound money at 25-35% p.a. average returns for a few decades- outstripping the returns of the vast majority of mature companies.

This route is like an entrepreneurial venture but in S L O W motion- 5 years experience investing in shares, 2 years building a robust methodology, 3 years in developing a fully audited audited track record (e.g. yr 1- 20% return, yr 2- 8% return, yr 3- 45% return etc.). After these 10 years, opening the fund to outside investors and then continue for a couple of decades... then give most of it away.

[notoppings]

Great stuff, notoppings- a rare serial entrepreneur heh?

I've tried to launch three inventive ideas and failed each time.
The problem is that, perhaps being an INTJ, I have an urge to only bring very original ideas to market. This obviously carries high risk and requires a breadth of skills that I lack. Couldn't muster the enthusiasm to start a general food store.

Now a franchise makes good commercial sense- sure creativity is stifled as the success lies in doing nearly exactly what the franchisor advises, but the concept is well tested (v. low risk) and scalable.


Certainly it would be generous of you to talk about your franchise experience in a thread for the benefit of others...if you could find the time outside of running the thing! :)


After failing to start my own venture, I'm instead starting a business that owns several other businesses- a small investment fund buying bits of listed companies.
It won't achieve the 100%+ p.a. returns that a start-up is capable of in the early years, but will compound money at 25-35% p.a. average returns for a few decades- outstripping the returns of the vast majority of mature companies.

This route is like an entrepreneurial venture but in S L O W motion- 5 years experience investing in shares, 2 years building a robust methodology, 3 years in developing a fully audited audited track record (e.g. yr 1- 20% return, yr 2- 8% return, yr 3- 45% return etc.). After these 10 years, opening the fund to outside investors and then continue for a couple of decades... then give most of it away.

That seems more ambitious then anything I would do,

As for the franchise as soon as I get the final i's dotted and t's crossed I'll make a thread that details the steps needed to complete a franchise purchase. Every time I turn around it seems I have to throw more capital at this machine, I love it.

[augustus]

MaxT,

[ I've tried to launch three inventive ideas and failed each time.
The problem is that, perhaps being an INTJ, I have an urge to only bring very original ideas to market. This obviously carries high risk and requires a breadth of skills that I lack. Couldn't muster the enthusiasm to start a general food store.]

That's interesting. Sounds like a problem I have been having. Around 2000, I thought that 3D would be the wave of the future and created a business selling online merchandise in 3D. It was like an Amazon in 3D except we sold the technology to retailers. At that time like you I wanted to do something interesting.

Well, it failed. I certainly kicked myself when I saw the success of Second Life.

I try to stay away from truly original ideas nowadays.

[Max T]

I try to stay away from truly original ideas nowadays.
:) They're just too high risk IMO. Sorry to hear about your encounter- still, all a learning experience.
Highly successful entrepreneurs say it's far better to improve upon an already proven concept.

If lucky/ cursed enough to have another original idea, I'll be going down the licensing or partnering route with an established company. 'Though it does require a decent understanding of intellectual property rights.

This licensing/ partnering viewpoint is likely a combination of
1. lacking the entrepreneurial bias for 'action and customers' over more INTJ-esque 'analysis and innovation' together with
2. no great desire for huge wealth through 100% ownership but instead the satisfaction of having the idea add value to society (via a partner company).

[Mercury]

Most rewarding: Can set own hours/be flexible with work times. This is important to me because I have a family. I also like:

-working at something I love. it often doesn't feel like drudgery, or work
-no stupid work 'rules'. My last job they hassled you about the number of times you could go to the bathroom
-no income limit. What I make is largely determined by the effort I put in

Least rewarding: Administrative side of it such as managing the books; the business records. I also dislike:

-marketing
-working long hours. kinda contradicts, but the flexibility I have with my work hours often means I have to make up that time later. It's awesome I can be there for my kids like pick them up early from school or take to the doctor or whatever, but that often means I will have to get up earlier the next day to get my work done.
-inconsistent income. This is something I am changing this year because I need to have consistent income

[cBorg]

MaxT,

[ I've tried to launch three inventive ideas and failed each time.
The problem is that, perhaps being an INTJ, I have an urge to only bring very original ideas to market. This obviously carries high risk and requires a breadth of skills that I lack. Couldn't muster the enthusiasm to start a general food store.]

That's interesting. Sounds like a problem I have been having. Around 2000, I thought that 3D would be the wave of the future and created a business selling online merchandise in 3D. It was like an Amazon in 3D except we sold the technology to retailers. At that time like you I wanted to do something interesting.

Well, it failed. I certainly kicked myself when I saw the success of Second Life.

I try to stay away from truly original ideas nowadays.

Thats not unusual. Being the first to invent a concept isn't always the best way to go because its often too early for the market or its impossible to implement correctly because it has no context. Others can learn from your mistakes and do a much better job than the original.

Of course I say that while spending my savings on a new software development effort that may have that exact problem. Oh well you have to try! To be successful you have to fail more often (from Henry Ford I think?).

[augustus]

MaxT and CBorg,

Check out this link below on Disney and Steve Jobs written by the inimitable Seth Godin.

One of my favorites articles on two great men who became successful implementing their ideas.

To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.

[GoodToBeMe]

I run a network consulting business.

Best parts are certainly the fact that you can do work on your own efficient schedule. :)
Bingo!!! You absolutely nailed. I have an IT consulting business myself with consultants working in the field. The thing with the INTJ is that we have pictures of the perfect world in our heads. In my case the perfect consulting company. Everything else fell short. Being self employed in general is important because it allows us to take the world inside of our heads and make it a reality. So I'm building a company based on that as well as real life experiences and feedback. I get to play the role of the strategist to a t. I love it.

[Lupin]

This thread is one which should stay long-term. There's some fascinating insight here. Having a keen eye on how to develop existing small businesses which suffer from a lack of a more strategic and blue-sky approach alongside some basci business acumen, I have decided to help a few people in exchange for a % of profits on sales. Now, this is across 3 small diverse businesses but it serves my eclectic interests.....property, yachting and upscale educational tours. It's definitely 'small beer' and definitely slow from what I read here but at least it has forced me to found my own limited company. But I'm still planning to run short-term contracts from the company in my bread and butter role as a environmental/legal consultant and so, hopefully, will likely remain a 'jack of all trades' but with reasonable cash flow from a range of sources to build up towards more interesting investments (that's all to do before I they give me a senior bus pass....).

[Noehelia]

I am very interested in entrepreneurship, I have so many ideas that I believe they will work, the problem for me is implementing them but most important continuing them. I have this dream that I will start business and then after 1 year I would appoint someone else to run them.
The difficulties I see for an INTJ's owing a business judging from my boyfriend is that they are too rigid in their ideas, not flexible of what the public wants (they think that their way is the right way and do not want to bend on that) but sure they would have success if they are in a business that values original thinking, dependency and knowledge.

[Max T]

The difficulties I see for an INTJ's owing a business judging from my boyfriend is that they are too rigid in their ideas, not flexible of what the public wants (they think that their way is the right way and do not want to bend on that)
Yes, excellent point.
Personally saw this weakness in myself- a general unwillingness to research what customers wanted.
Adding to your view of INTJ rigidity, I suspect that we also risk enjoying the optimising of a concept to such an extent that we slowly shift it away from real world needs with disastrous commercial results (hence the age old pitfall of building a laser-guided $1000 mousetrap- brilliant at its purpose but offering no customer value).


A concept in an INTJ's mind is not a business until it has paying customers.
This reminds of the best tip I read about start-up successes: to ensure that every hour of your limited resources is focussed on one thing alone- fixing customer problems.
Forget the business cards, the funding, the office, the suppliers. Helping customers will in turn create customers, in turn generating cash flow leading to more funding and then the office and so on.

Also INTJ perfectionism can delay product/service launch too much.
Create the first version dirt-cheap and rapidly… improve only with customer growth.
The secret of fast progress is inefficiency, fast and furious and numerous failures.

[schwartzie]

In addition to a professional job, I have a small business that has some seasonality to it. The best part was researching and developing it so it's mostly self-executing, requiring very modest daily inputs. The small labor needed can be done entirely on my schedule.

[Capt57]

I started a home remodel business about 5 yrs ago. I enlisted the help of my INTP dad who does all the plans. People say they never had projects run so smooth. That's because both me and my father are excellent contingency planners. If you thought about two things that could go wrong we thought about 47. We do all the plans and all the work including the electric, plumbing, carpentry. 100% full control of the project and our time. I now make enough money with my dad to spend just as much time fishing with him then working. I think INTJs should seriously consider self employment. We have the vision and independence to pursue risk in a sturdier boat.

[Bandit]

I own and operate a string of boarding kennels/doggie daycare and grooming boutiques..
I have found that dogs are less inclined to say "stupid things".. :-)