Have you wondered why some people are financially successful off the bat? Sometimes it’s more than the strategies that help people become financially savvy. The way you handle money in your business may be attributed to your unique personality traits.
There are four personality categories that describe how people handle money and how they can improve their financial status.
Protectors typically carry a conservative attitude around finances. They will place concerted effort into developing tightly planned budgets and don’t take well to surprises. While managing business expenses will come naturally to Protectors, they will struggle when it comes to preparing for surprise expenses.
Balance type: Pleasers
Pleasers can show areas where you can be flexible. These individuals are generally resourceful and fluid with their finances.
Having a long-term plan is the ultimate goal for this personality type. These individuals can effectively manage investments and secure gains for retirement. When it comes to business finances, these types will want to know exactly what they are paying for and how it will benefit them in the long run. They also can reach “analysis paralysis” when it’s time to make an immediate financial decision. Learn to discern when to wait and when to act.
Balance type: Players
Player personalities can help you take those imperative risks for you to grow as a business. These types are tenacious and sense a good opportunity when it comes.
These individuals aren’t necessarily careless with money, but they can stand to improve their relationship with finances. The common pitfall for Pleasers is giving their resources away too frequently and not being properly compensated in return. This personality type should be wary of toxic individuals who mean only to take advantage of their good will. In business matters, Pleasers might be too eager to give a customer a deal or make discounts that could potentially bleed their revenue streams. Learn to say no and learn to hold your ground when it comes to pricing.
Balance type: Protectors
As the name suggests, Protectors are the guardians for resources. Their guidance will help you show restraint before giving crucial aspects of your business.
Players are risk takers and see money cycles more fluidly than most personality types. Being the most entrepreneurial driven personality, these people want to make their own way to success. They will play hard and play to win. When it comes to business be sure to make smart risks. While the risks may be profitable, it may not be wise to take every risk at once.
Balance type: Planners
While you have several big investment moves, Planners will be your go-to in strategizing each risk. They excel in long-term planning and seeing the over-arching picture.
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