[Quiz] What’s Your Money Model Type?

Read each list of statements. If a statement rings true to you, add a point.

Whichever type has the highest number of points is your Money Model.

After you’ve determined whether you’re Type 1, Type 2, or Type 3, scroll down for your next steps.

Money Model Type 1

___I don’t have enough clients.
___Getting each client is a struggle.
___I do incredible work that makes a difference in people’s lives
___I generally am paid by the session, by the hour, or by the month.
___I have a hard time describing what I do.
___I offer a wide variety of services.
___My genius is mostly in my head, it’s not written down anywhere.
___I can work with many different types of people because the work that I do can benefit so many.
___I have trained in a lot of modality or methods, or I have spent years developing my own modality.

Money Model Type 2

___I have enough clients, but it’s all or mostly private one-on-one work.
___I am concerned that I’ll get burned out.
___I don’t know how to make more money without working lots more hours.
___I’d like to create group offerings and leverage my time.
___I generally am paid by the session, by the hour, or by the month.
___I have no space to take on new clients or earn more money, so I have hit an income ceiling.
___I feel like I can’t raise my hourly rates because people won’t pay that much.
___I wish I could have some time freedom, but taking free time just means a reduction in income.
___I know that I’m doing good work, but wish I could serve many more people.

Money Model Type 3

___I don’t have enough clients.
___I do incredible work that makes a difference in people’s lives.
___I have lots of content (books, ebooks, etc) but am not making enough money.
___I’d like to create passive income with my work, but am not sure how.
___I know I need to get my work in front of more people.
___I’m not making the money that I deserve given the work I have created.
___I have time because my materials are created, but I’m spending time trying to find an audience.
___I don’t want to do one-on-one work because it feels like going backwards.
___I could create a great impact with what I’ve created, but I don’t yet have the reach to share my work, or the money to create that reach.

Type 1 – Starving Genius

As a Starving Genius, you have a huge gift to give to the world. However, it’s not currently being used as well as it could be. Money is an issue, and you know that if you could just work this out you could earn a good living and make a much bigger difference in the world.

You do extraordinary work. Your clients love you. People mostly find you through word-of-mouth referrals from people raving about your work, but even your clients don’t quite know how to describe what you do.

You feel like if people just knew what you could do for them, you’d be swamped with clients. Figuring out how to educate people about you and your work has likely been a huge hurdle to overcome.

Challenges:

  1. You do transformational one-on-one work, but you’re not being paid in alignment with the transformation that you’re providing.
  2. You’ve been selling sessions, or months.
  3. You have a hard time describing what you do, and you may offer a wide variety of services.
  4. You have probably trained in a lot of modalities or methods.
  5. You transform people’s lives, but your genius lives in your head, it’s not written down in a way that’s making you money.
  6. You feel like you can work with anyone, or many different types of people because the work that you do can benefit so many.
  7. Clients do a few sessions and leave, so you’re always trying to find new clients.
  8. You feel like you can’t raise your hourly rates.
  9. People seem confused when you talk about what you do.

Solution: You need a system to get a steady, consistent income, and be rewarded financially for the work that you can do. (See below for more.)

Type 2 – Overworked Giver

As an Overworked Giver, you’re already making money, which is a great thing for a transformational entrepreneur. You also make a big difference in people’s lives, but know that you could make a bigger difference if you could just figure out how to serve more people without burning out. Although you’ve got a good income, you tend to have feast and famine cycles, which is great when you have a lot of clients to serve but it’s harder if the number of sessions falls off. You’re working largely one-on-one, and can’t see how to move to a different way of working.

Your clients love you, and you know that you’re making a difference for them. You sometimes over-give, running sessions longer than the scheduled ending time, in order to make sure that people get the transformation that they’re seeking.

You’d love to work with groups, but there’s very little time to create and build the groups to work with you. Your issue is time freedom, and wanting to make a bigger impact. In order to create more time, you’d have to take an income loss.

Challenges:

  1. You’ve created a relatively full practice, but you can’t take on many new clients, because you’re out of time.
  2. You’ve hit an income ceiling, and don’t feel like you can make more (and you can’t raise your rates).
  3. You want to find a way to leverage your time, but you don’t know how to go about that, and don’t feel like you have enough time to create something.
  4. You wish you could have some time freedom, or take time off without suffering a loss of income.
  5. You want to serve many more people, but you’re maxed out.

Solution: You need a system to leverage your time, and share your work in a way that doesn’t require all your private time. This system will allow you to scale what you do so you can make more and serve more, without taking up more time. (See below for more.)

Type 3 – Compulsive Creator

You’re a Compulsive Creator, which means that you’re committed to putting your transformational work out into the world. You have created some combination of books, ebooks, courses or products that express your genius, and you have sold some. However, you’re making very little money because you just can’t sell a book, course, or product for that much money, and you don’t yet have a wide enough audience to create a significant income from bigger numbers.

You’re always looking at how to get your work out in front of lots of people, and you should be acknowledged for being willing to be that visible. However, building a following always seems to take more money, and you just don’t have enough of that from current sales.

You’re more interested in making a difference than in making money, which is commendable. You want to make a bigger difference in people’s lives through sharing your powerful ideas, and you want to have your work accessible to more people.

Challenges:

  1. You’ve struggling with an income ceiling, and don’t feel like you can make more (and you can’t raise the rates for your online books or products).
  2. You want to serve many more people, but you’re not getting in front of them because it takes too much money or time.
  3. You’re not making the money you deserve given the transformation that you can provide.
  4. You can’t find an audience for your work that will give you the attention you’d like for your ideas and methods.

Solution: Focus on ‘Premium’. You need a system to create money with the work that you’ve already created. This system will also get you in front of more people, and get your work appreciated, and more well-rewarded financially.

Here’s the path to a more powerful money model for all 3 types:
Re-structure Your Offerings to Include Premium:

Create a premium offering. This may be a relatively simple shift, such as adding private time to a training program, or could be more complex such as creating a specialty course with private time. Just this shift will increase your income potential 5x to 10x.

Claim Your Expertise:

Specialize in one specific problem to solve, and create a Signature System that solves that one problem. Claiming your expertise will also make it easier for people to understand your genius, and enable you to be well-paid for the transformation that you provide. While you can help people solve other problems in the future, this focus will make it easier to spread the word about your work.

Ask for, and Receive Higher Fees:

You’ll want to charge more with your new offering of a Signature System, and that may take some mindset work. As you expand your willingness to receive higher fees for the transformation that you provide, your clients will benefit even more from your services. You’ll want to take on new clients at the new rates for your signature system, and you can gradually transition any existing clients to your new system.

Next Steps:

Watch the ‘Profit From Your Gifts’ video for a complete understanding of what you need to grow and scale your business, regardless of which of the 3 types you are.

The video is short and jam-packed with information, because I know your time is valuable.