Introducing… Profit Personas™!
One of the things I’ve learned in my 30 years of experience working with entrepreneurs is that there are 4 main business personality types or personas. One of my goals for 2021 has been to take these personas and crystallize them into a way that helps you make better business and financial decisions that are fully aligned with your goals and your intuition.
This month, I’m officially releasing the 4 Profit Personas™ – with a bonus fifth one for all you rebels out there. 😉 I use these archetypes to help inform the kinds of information I share with you. It’s important to me that I’m not “one more thing” clogging up your inbox!
Before I share them with you, I first want to thank everyone in my community and my Profitzine subscribers for their help in refining these. I also want to say that the Profit Personas™ are by no means intended to stuff you into a box.
Rather, they are a tool to help you understand the role Money plays in your life and your business, how you like to create it, and the different ways you like to use and spend it. Think of your Profit Persona™ as more like a frame around a blank canvas. It’s one small piece of the inspiration you draw upon to create your work of art… or in this case, your business.
When I first started sharing the Profit Personas™ with my community, I asked them to choose which of the following statements resonates with them the most:
I’m just not good at money. Numbers stress me out. What does profit even mean?
If I’m not growing my business, then it’s dying. If I could just get to the 7-figure mark, all my stress will go away.
I care about my clients, so I keep my rates affordable. I like to avoid taking financial risks and prefer to live debt-free. I struggle with outsourcing because it’s time-consuming and costly.
My ultimate goal is to make money while I’m sleeping. I don’t care about spending a lot on my business since it’s all a tax write-off anyway. I have no problem paying myself a lot… I’ve earned it!
I’m a rebel, Connie! None of these fit quite right.
Keep a mental note of which statement feels the most like you, and keep reading to discover your own Profit Persona™!
The Creative Alchemist
I’m just not good at money. Numbers stress me out. What does profit even mean?
As a Creative Alchemist, you may associate Money with things like anxiety, fear, avoidance, and disgust. You avoid thinking or talking about Money as much as possible, and you hold a fundamental spiritual belief that enough Money will show up whenever it is needed. You can attract money in unusual ways and have amazing manifestation skills, but you have a love/hate relationship with Money that leaves you feeling frustrated that you never have enough of it to support your ideas.
It’s not unusual for you to want someone else to take care of everything for you. But when you give all your power away, you can find yourself getting into trouble by trusting someone too much or trusting the wrong person.
Things that can help you play into your strengths as a business owner include:
Taking small steps towards learning about your finances, instead of trying to drink from a firehose. One small step would be to make a Money Date once a week for an hour. Take time to pay attention to Money, do Revenue Generation activities, and celebrate! 🎉
Expanding your awareness by hiring a coach to get the accountability you may need, reading a book, or listening to podcasts.
Creating your own financial toolbox: work with a finance team; create wealth building options; have enough savings to help you feel secure; and become aware and empowered with Money.
When you feel confident and educated about your Money, it’s easier to lead your life and run your business with clarity and purpose rather than fear and avoidance!
The Entrepreneurial Maverick
If I’m not growing my business, then it’s dying. If I could just get to the 7-figure mark, all my stress will go away.
As an Entrepreneurial Maverick, you may associate Money with things like happiness, security, and peace. You believe the ultimate solution to any problem is to have more Money, and you’re constantly working hard to create more of it… but when you achieve whatever Money Milestone you’ve set for yourself, it still doesn’t feel like “enough.” You’re goal-oriented, an innovator, and a risk-taker.
Things that can help you play into your strengths as a business owner include:
Get off the financial rollercoaster and focus on creating sustainable income to give you and your business a firm foundation. Release the mindset that sustainable is boring.
You have a natural ability to take risks and sometimes like to have more than one going at a time. That gets a little hard to measure. Limiting a new marketing strategy, hiring a new team member, or pursuing a new offering, to one per quarter, will allow you and your team to measure the success of that effort. Treat it more like an experiment!
Expand the Financial Plan (aka Budget) to include that Big Dream. Look at what leveling up the income would look like. What additional expenses/needs are there? Then you can see a more complete picture of what type of container a bigger revenue stream would need to support it.
When you have a firm foundation and understanding of how Money supports the business and your lifestyle, you stop chasing Money and start enjoying and appreciating how it adds to your life.
The Adventurous Saver
I care about my clients, so I keep my rates affordable. I like to avoid taking financial risks and prefer to live debt-free. I struggle with outsourcing because it’s time-consuming and costly.
As an Adventurous Saver, you may associate Money with things like security, responsibility, and caution. You prioritize savings because you’re never certain what the future will hold for you financially. That said, you want to find ways to enjoy your Money beyond simply growing your savings. With some support, you know you can find ways to spend Money that cares for your responsible Saver side but allows for your Adventurous spender to still have some fun.
Things that can help you play into your strengths as a business owner include:
Implementing a Cash Handling System with quarterly bonus payments to you, the owner, is a beautiful mix of your natural saver tendencies and learning how to use Money to add to your lifestyle.
Financial Plans are your jam and influence every business conversation and decision you have. Consider adding a line item for growth, for team morale, and maybe, even a little fun. You excel at savings and hitting your financial goals. Now how about adding enjoyment and the joy factor into the plan for your team and yourself. Figure out how to enjoy the life you have right now. Let go of the anxiety around worrying about someday or having enough.
Work with a Financial Team that is going to partner with you to build your wealth. Allow your Money to work for YOU rather than simply sit in a bank savings account. Look for a Financial Advisor and Tax Pro that are on the same page and help you know what is “enough” for a secure life.
When you release the firm control around saving every penny, and find how Money can add to the enjoyment of living the life you desire, you learn how to use Money as a tool as you create a long and fulfilling life!
The Money Magnet
My ultimate goal is to make money while I’m sleeping. I don’t care about spending a lot on my business since it’s all a tax write-off anyway. I have no problem paying myself a lot… I’ve earned it!
As a Money Magnet, you may associate Money with things like freedom, spontaneity, and self-worth. You often invest in large expenditures such as photo shoots, office layouts, and website rebrands because you believe successful businesses need to look the part. You’re more likely to overspend or use multiple credit cards because you’re not tracking your cashflow closely and aren’t fully aware of what your costs are. You have a strong spiritual belief in the power of the Universe to take care of your financial needs. You find it easy to attract clients and Money because you’re magnetic and radiant, but this fact isn’t reflected in your bank balance.
Things that can help you play into your strengths as a business owner include:
Acknowledge that you are a Natural Spender (so am I) and while it makes you happy, it is easy to slide into compulsive spending. A Cash Handling System that marries the “fun” money endorphins with building a saving habit muscle, is a beautiful Money combination.
Practice a 48-72 hour pause before saying YES to a purchase. Give yourself the gift of examining that purchase from a different angle rather than getting caught up in the marketing jargon, the excitement of being at an event, or simply filling an emptiness you might be feeling. After the pause, if the shiny bauble is something you will implement, use, and makes your life easier (yes to all three) then that’s a good investment.
Work with a Financial Team that will help you feel confident and knowledgeable about your finances. That means they partner with you. That they can help you understand how Money supports that Big Dream for your business and lifestyle. And, if there is debt, they help you figure out a plan to pay it off and heal your relationship with Money.
When you balance the spending with the savings you create a secure financial future that allows you to have the things you need and love, along with a strong, stable, and secure financial foundation for your business and life to grow from.
So, how’d I do? 😉 Do you resonate with your Profit Persona™? Leave a comment and let me know… I’m excited to hear what you think!
And to get business tips tailored to your own Profit Persona™, register for my twice-monthly Profitzine.
Bonus Persona: The Profitable Rebel
I’m a rebel, Connie! None of these fit quite right.
As a business owner, you believe labels are for jars, definitions are for dictionaries, and boxes are for cereal! 🥣
So in order for me to make sure I’m sharing timely information and resources that resonates most with you, I’d love it if you would send a message to connie@profitwithconnie.com and answer these questions for me:
What areas of your business are you currently working on improving? (Sales, budgeting, hiring, etc.)
What areas of your business do you feel could use some help?
What questions do you have around bookkeeping and/or taxes?
How best can I support you?
Wishing you much success, joy, and always profits!