Define Your Wealth Profile & Rock Your Revenue
When it comes to making an enterprise really WORK there are a million things that need to be done. Juggling and prioritising are the order of the day and most of us live in the hope that someday the laws of time will change and all of a sudden we find ourselves with another ten hours a week, gratis.
Well, what if I told you that by making some simple shifts in how you work you could create those ten extra hours?
And it doesn’t mean spending time implementing new complicated workflow systems. It doesn’t mean taking on another six staff members. All it means is that you still prioritise, and you end up doing more of the stuff you love to get done?
Sound interesting? – well keep reading, because whether it’s the networking, or the writing, or the reporting or the managing of staff you love, there is a way that you can rock your revenue, whilst juggling everything else in your life and business, and still have fun doing it.
There are two key parts to this strategy: the first deals with what you as an individual focus on, and the second looks at your team.
Let’s Start with You
You’re probably good at a million different things in your business. Perhaps there is just you, or perhaps you have a group of people who work with you. But the odds are, if you’re reading this, you’re highly driven and very accomplished at a lot of different things.
Which, counter intuitively, in a business environment, leaves you at a MASSIVE disadvantage.
Why a disadvantage?
Because simply speaking, if you’re good at everything, you tend to DO everything. You work harder and smarter than everyone else and you end up picking up the rest of the pieces around you that wouldn’t normally be your first choice on your to do list…. but if not you, who?
The danger with this is that because you’ve become good at these tasks, you come to accept them as part of what you do.
You’ve trained yourself, perhaps against your natural talents. You see, when it comes to productivity and natural flow, personality is EVERYTHING. If your natural personality excels working a room and rubbing shoulders with your next investors, you’re not working to your strengths when you sit down and try and design your website logo. If you’re naturally good at the creative thinking tasks, trying to negotiate on your own behalf is going to take you away from your natural strengths.
The point is:
Those who stay doing what comes naturally to their personality are the ones who excel. Those who try and do everything, whether it is within their natural flow or not, never get to master any of those things, and their business suffers.
Another difficulty is that the more practiced we get at certain tasks, the less we think of them as being outside of our natural flow.
But there is an answer to this. These concepts we have discussed so far come from the concept of wealth profiling. This is a profiling system that looks at your personality type and tells you what your bets strategies for success are based on your natural flow.
There are eight personality types (see diagram), and eight distinct ways in which money can be generated. When you work to the strategy that works best for your personality type, your productivity, your results and your passion for what you do goes through the roof, because you are working within your natural flow.
This is called being “on profile”.
The opposite is being “off profile”. This is where the task you are doing becomes hard work, takes longer than expected, takes emotional energy and “psyching up” to get round to it. Just thinking about doing things off profile are a drag and a drain on your natural creativity.
So What About The Profiles?
On the surface there are some obvious distinctions: if you’d good at with people and you like networking, then it’s likely you’re a Supporter profile. As a Supporter you will do well to adopt networking as a marketing strategy. However, the networker (aka Supporter) profile is great at connecting relevant people, getting the right people into a room, bringing people together, managing teams, and getting the best out of the individuals within a team. See how there is so much more to what this profile excels at....and yet all the tasks just listed have the same basic characteristics, or flavour.
Similarly, the Deal Maker profile, as the name suggests is incredible at making deals. Not only do they see the deals to be made, but they see all the variables and negotiable up front. They are completely in the moment and natural know how to do the research that will give them an unfair advantage in a negotiation.
The Star profile is great in front of an audience. And so the star strategy has to be built up around a personal brand, which can then be leverages through media strategies, and from the stage. Stars can generate a great deal of attention for an enterprise or cause. However, a mistake often made by stars is thinking that their personal magnetism works in a networking situation – and it doesn’t. The star needs the platform and the one-to-many interaction to be effective... One-on-one the magic just isn’t quite as potent.
Creators tend to have their head in the clouds and are prone to having too many ideas at once. Whilst often geniuses, they are terrible at completing and following through on their projects.
They need a team to implement their ideas. Great Creator profiles have mastered the art of resourcing, and separating good ideas from lame ones.
Supporters are natural, avid networkers. Their value is in who they know, and being able to bring people together for mutual benefit. They have a genuine interest in people and will know and remember all kinds of things about individuals they meet… simply because they love connecting with people.
Traders have their ear to the ground. They are 100% focused on the present moment. They are more stressed when they have nothing to do, and are great at just getting things done, within a framework that already exists. They make excellent triage doctors and nurses. They are masters of timing – which is why they are so good at trading volumes of goods and services which are commodities.
Accumulators are great at hanging to things. When this is money, or appreciating assets– this is a fabulous person to have on your team. When it is old junk they are hanging onto, they become hoarders. Great at research, they tend to be slow to make a decision, because they find it difficult to intuitively and quickly weigh the importance of all the data they have gathered.
Lords are phenomenal at detail and make excellent researchers. Malcolm Gladwell would refer to these as the Maverns. They excel in roles and businesses where the details are important for good decisions to be make. (This also makes them excellent investors, and good in business when the fat needs to be trimmed. They are great at seeing what can be cut back on.) They are also naturally great at controlling (without owning) cash generating assets.
Mechanic profiles come into their own when it comes to making things better. They are avid tinkerers and excel when they have a system already in place, to improve on; whether it be a machine to increase its productivity, or the cash flowing through a business and tweaking processes to increase the profit or throughput. If you’re a Mechanic, do expect to be able to start something from scratch though… you’ll forever be trying to improve it before you implement anything.
So you see, there are subtle and important differences between the profiles and the strategy you would adopt given your profile.
Now Let’s Talk About Your Team
Getting yourself working “on profile” is only part of the story. The next thing to do is to get each team member working to their strengths. You see, what happens when each individual works to what comes naturally to them is that their productivity and creativity go through the roof. No longer do they drag their heels at tasks they “have” to do. No longer do they feel they need to avoid things. What happens when you have your whole team working to their individuals strengths is that they work longer and hard than they ever have because work become play, it fills their highest values, and their deepest passions.
Knowing the wealth profiles of your team gives you a mass unlocking of talent throughout the business.
So How Does This Work Practically?
The beauty of this methodology is that not everyone is the same profile, and you should take this into account when you are hiring, to make sure they’re not. Some people will loath paperwork but others will love it. Some will dread getting up and giving a presentation, whilst others still will live for the next negotiation. Whatever your team members thrive on, find out what it is, or better yet, have them to take the profile test so you know for sure.
The next stage is to shuffle tasks and responsibilities around to make sure that each person is doing the tasks that fit their profile. Easier said than done, you may be thinking… but the time to start this is when the team is small. If you team is already large, take the time and do it with your core leadership team, and see that they record the positive changes. This will then give your leaders the impetus to want to implement the changes in their respective departments too.
What this gives you then is a mass unlocking of talent throughout the business, because previously where individuals were just running to keep up with the day to day, they are now within their flow, and enjoying a greatly increased personal capacity. They can then see the bigger picture, and if you nurture the right environment they will look for ways that they can use more of the skills and talent to help the company even more.
Don’t be surprised if you suddenly get people wanting to get involved with your facebook campaign, or wanting to represent the company at networking meetings!
Yes, it takes some focus, some change and some effort… but what you lose in the very short term you more than make up for in the future of your enterprise.
You can read more about the profiles, and even take the profile test at www.wireyourselfforwealth.com
Laura Leigh Clarke is the author of Wire Yourself for Wealth and business coach to the heroes of the entrepreneurial revolution i.e. individuals like you!
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