Know Your Numbers: Your Secret Money Script

Why are some businesses more successful than others?

Have you ever wondered why some businesses are more successful than others? We all know that there is no shortage of small businesses trying to get a foothold in the market. Some businesses thrive, while others fail. There are many factors that contribute to an organization’s overall success. However,there is one key element that lies at the heart of it all - responsible financial management. If you want your business to reach the top, keep reading.

Secret money script

We all operate through life and in business with an inner dialogue about money, something we like to call a secret money script. Many of us have no idea that it is running in the background. Our money scripts are often formed during our childhoods or through relationships we have with others. Having an understanding of this script and where it comes from is interesting and may help you with your finances. At C.Campbell Agency, we became curious about this and decided to find out more. 

Money personalities

C.Campbell Agency conducted a survey among business owners about their relationship with money. Through that we discovered trends from childhood and secret money scripts that have played a part in both their personal and business finances over the years. The survey helped identify the business owners’ money personalities which gave them some insight into their money challenges and ways to resolve them. How does money make you feel? Does the thought of money make you happy, thinking about all the things you can get with it? Do you have a go-with-the-flow, see-where-it-takes-me approach to finances? Do you count and account for every penny spent?  One of the tools we use as a Profit Coach is a Money Personality Profile. Which of these five money personalities most resonates with you?

1. Collector

If your secret money script is, “save your money for a rainy day,” you might be a Collector. A Collector’s goal is to keep the balance in their business bank account growing, while avoiding debt and interest charges. They are careful with spending, always looking for the best deal financially.

2. Celebrity

If your secret money script is, “don’t let money burn a hole in your pocket,” you might be a Celebrity. A Celebrity thinks that if you spend more money on your business, it will create more profit and growth. For those folks, money moves quickly through their business in a dynamic way.  

3. Adventurer

If your secret money script is, “life is to be lived, don’t let money hold you back,” you might be an Adventurer. An Adventurer lives in the moment, making quick decisions and often following their gut. They are not concerned about the details. 

4. Analyst

If your secret money script is, “do your research before you spend even a dime,” you might be an Analyst. An Analyst researches everything, including costs, projections, and what others are doing. They plan in detail, take longer to act, and don’t take risks.

5. Idealist

If your secret money script is, “out of sight, out of mind,” you might be an Idealist. An Idealist is usually busy working in their business and doesn’t pay attention to the money. They tend to not understand taxes and profit margins. 

Of the five money personalities, which are you: a Collector, Celebrity, Adventurer, Analyst, or Idealist? Maybe you don’t fit into just one of these personalities. You may be a combination of a couple of different ones. What money personality resonates with you today?  What money personality would you like to be tomorrow? What steps could you take to make the change? 

Once you understand your secret money script and your money personalities, you can think about how you would like to present yourself in business. First impressions go a long way, and that first connection is often with your name and title. Which business title represents you best? CEO, President, Owner, Partner, Founder, Director, Entrepreneur? It’s worth taking the time to reflect on this topic and you may want to engage a Profit Coach to help you through the process. 

Know your numbers with C.Campbell Agency

C.Campbell Agency helps business owners know their numbers, but it’s not only about the numbers. We care about the people running the business. We look closely at how business owners’ relationships with money, the scripts they grew up with, and their money personalities can impact their business finances. To learn more about our services, go to www.ccampbellagency.com.

Know Your Numbers with QBO