What's Your Birth Order?

It might affect your bottom line.

Did you know that whether you're the oldest or youngest in your family influences how you run your business? Birth order affects not only the types of companies entrepreneurs start, but also how they manage those businesses. That's according to Frank Sulloway, author of Born to Rebel: Birth Order, Family Dynamics, and Creative Lives.

Sulloway says first-borns tend to be conscientious, obedient, hard-driving and bossy. Later-borns are more flexible, innovative, laid-back and sociable. These characteristics can impact entrepreneurs from the start: Older siblings often go for the safe bet, while the younger ones are likely to be risk-takers. First-borns might make better franchisees, while later-borns often undertake more experimental and quirkier businesses. The solution? Sulloway suggests joining forces with your siblings, if possible. Together you offset your "inborn weaknesses" and can build a better business.