Starting your own business is an exciting journey driven by many different motivations. Whether you desire freedom from the daily grind, want to unleash your creativity, or aim to improve your lifestyle, becoming a business owner can be incredibly rewarding.

Table Of Content

Why Do You Want to Start a Business?
The 7 Essential Phases of Business Planning
The Investigation Phase: Know Yourself and Explore Your Business Options
Identify Your Personality Type
Duty Fulfillers (Introverts)
The Mechanics (Introverts)
The Doers (Extraverts)
The Executives (Extraverts)
Additional Personality Groupings
Explore Your Business Preferences

Before diving in, it’s crucial to understand the foundational steps involved in building a successful business. In this post, we will explore the all-important Investigation Phase, the first step every aspiring entrepreneur should master to create a strong and sustainable business.

Why Do You Want to Start a Business?

People start businesses for countless reasons. Which of these resonates with you?

Freedom from daily routine
Flexible working hours
Improved financial situation
Creative independence
Utilizing your skills and education fully
Offering a needed product, service, or idea
Spending more time with family
Freedom from formal dress codes
Tax advantages as a business owner
Preferring to work independently
Being your own boss
Making your own decisions

While all of these are valid motivations, true business success comes from thorough planning. Many entrepreneurs jump in without fully understanding what running a business entails.

The 7 Essential Phases of Business Planning

Business planning involves multiple stages. Here’s a brief overview of the seven key phases:

Investigation Phase
Planning Phase
Start-up Phase
Operating & Monitoring Phase
Problem & Challenge Resolution Phase
Renewal & Expansion Phase
Selling, Transferring, & Retirement Phase

In this article, we will dive into the first phase—the Investigation Phase—which sets the foundation for every successful business.

The Investigation Phase: Know Yourself and Explore Your Business Options

The Investigation Phase is about self-discovery and evaluating the type of business that suits your personality, skills, and lifestyle. Matching your business choice to your natural strengths increases your chances of success and fulfillment.

Identify Your Personality Type

Understanding your personality can help pinpoint careers and business types that align with your natural tendencies. Below are common personality categories with business-related traits:

Duty Fulfillers (Introverts)

Serious, orderly, logical, and dependable
Highly responsible and organized
Work steadily toward goals, undistracted
Often thrive in careers like accounting or administration

The Mechanics (Introverts)

Quiet, reserved, and analytical
Interested in cause and effect, how things work
Often skilled in craftsmanship, mechanics, or hands-on roles
Examples include mechanics, handymen, or farmers

The Doers (Extraverts)

Adaptable problem solvers who enjoy action
Prefer hands-on, practical work over lengthy explanations
Often attracted to sports, marketing, or entrepreneurship
Thrives in dynamic, fast-paced environments

The Executives (Extraverts)

Confident leaders who enjoy intellectual challenges
Effective public speakers and decision-makers
Enjoy acquiring knowledge and influencing others
Frequently found in legal, administrative, or leadership positions

Additional Personality Groupings

To simplify:

Introverts often excel as nurturers, guardians, scientists, artists, protectors, or idealists.
Extraverts tend to be performers, visionaries, inspirers, givers, or caregivers.