EP. 59. Profiling the business people archetype. What category do you belong to?

With the 4 profile types of business people, what are you?
With the 4 profile types of business people, what are you?

Recently, an email marketing website has conducted a survey to its clients and non-clients that aim to identify the profiles of small to medium entrepreneurs. David Counsell and David Pritchard has willingly participated and very much interested to share with you the result the survey.

Are you the type that are focused to deliver customer satisfaction and creative enough to look for new ways? Or are you the one that value your lifestyle and flexibility? Could it be also that you rely mostly on your family and friends for support. Or possibly someone whose business life just end at exactly 5 o’ clock? Here’s another round of interesting discussion that will help you identify more what kind of business person are you. Have a listen and find out more what were talking about.

In this Episode

00:00 Opener
01:10 Welcome to David versus David
01:46 It has been a while since we last recorded episodes for the podcast but we’re back
02:20 Recently, we have received an email survey about the profiling of business people
02:45 It was conducted by Infusionsoft www.infusionsoft.com, a helpful application that automatically sends email to the selected contact list
03:42 They conducted a survey to 150 small businesses in America, some of them are their clients and some are not
04:09 They took the approach of analyzing and segmenting the people by their attitude
04:24 They came up with 4 interesting segments: Freedom seeker where lifestyle is important
04:33 Passionate creators, people that are focused creating value and driving people to that passion
04:42 Struggling survivors are struggling around the business around them
04:52 Legacy builders, people who wanted to start something in the first place but also developed something yo secure their future
05:18 You who is listening right now might be thinking you must have tagged a label to yourselves
05:40 They’ve done this survey because they want to know more about their business
05:51 When it comes to marketing, you need to be able to hold a mirror up to people that if they see their selves in the mirror, they are customers and if they don’t see themselves then they are not customers
06:19 By doing the survey, they will find the middle ground from customers and non-customers
06:32 So don’t just conduct a survey to your raving fans but also to those people who don’t love you
06:58 When you are creating a marketing message, it is important to know who are you talking to
07:40 Those four categories nearly represented 25% of each
08:58 Legacy builders are the least from the 4 groups to likely have a website an in this day and age, that’s the path to ruin
09:16 Legacy builders are described being practical, innovative, ethical and legacy
09:25 They are most likely involved with other small businesses that are more likely locally based and rely for friends and family for support on the business
09:45 45% of them don’t have a website and the most to be using the main lead generation tools such as referrals and emails
10:02 49% spend less money on advertising and don’t use social media
10:21 They’re restricting their ability to grow
10:31 They are more likely to rely on family and friends for support
10:45 But if you’re family are your business, you are not building a legacy
11:02 You should be looking for something that will provide you financial freedom not to chain you to a wheel
12:05 The strongest point of this category is that they really think what the point of the business is and if the business is matching the aspiration that was thought of and pay hard work to turn that around
12:40 Many people starting their business may be legacy builders but as time evolves they move to different groups
13:03 It is easier for you to do things when you are building a business than to explain to someone else what needs to be done and that is a mistake
13:20 Once you get other people to work for you as business multiplier makes you truly free when you are running a business
13:31 Don’t be afraid to hand tasks to other people
14:05 Off loading and delegating tasks is one of the most difficult role
14:33 Struggling survivors are described as apprehensive, challenged, unappreciated and concerned
14:45 More than half of them thought that they will close their business and see a decline of revenue
15:03 They feel that on the outside world, people don’t respect small businesses
15:27 David C shares that he once met a guy who instead of finding ways to make his business better, he was sitting on the couch at his reception area, having a drink and watching movies in his corporate display video
16:13 There are people who wants to leave the corporate world and start a business but they also want the safety net it gives
16:41 Some people tried to leave the corporate world but eventually came back
17:34 You need to ask yourself if business is really for you
18:11 It doesn’t matter what you are doing in life as long as you are happy
18;20 Passionate creators are passionate of what they do
19:40 David C has that passion to his business that he wants to share it with the world
19:47 If you are serving customers to their benefit and not just for the money, they will love you for it and will drive your business for you
20:12 It’s so hard to earn and money and waste it to someone who walks to your door and says that he can solve all your marketing problems
20:21 The magic bullet just doesn’t exist
21:16 The hunger button doesn’t just switch off at 5 o’clock and it applies to life as well
21:29 David P shares his story of his business
21:34 He provides products to shops and their success is dependent to these shops
21:45 In several case, the shops sell the products and 2 or 3 shops sell so much that it is equivalent to 1 or 2 weeks of their profit per year just from his products alone
22:24 It provides the passion to drive his business forward
22:28 The success circle is composed of 3 little circles locking an a hot spot in the middle
22:36 One circle is the skills you provide, the second is the passion you provide and the third circle is based on the outside people who are willing to pay
23:07 If these 3 circles overlap, then you have the potential for a very successful business
23:38 Passionate creators are the most likely to have 5 or more employees so they are thinking of expanding
23:47 They are considered the most optimistic and are marketers who most likely to sped to drive their business forward
24:30 Helping other small to medium business is a goal for them
25:45 David C shares that when he started the business, they wanted to have peace and love in the business and managed to maintain it
26:13 But you got to find that muddle ground which is serving the customers
26:50 David C has started another podcast that only talks about how to get the best out of your marketing and advertising
27:04 We are on our fifth week and in the top 30 of the most downloaded podcast
28:10 And we move to our last category, the Freedom Seekers
28:18 It’s not about not working for the man but it’s about solving problems for people
28:28 In business, the people looking over your shoulders are the customers
29:00 These may be people who left the corporate world to set themselves up with an internet business
29:35 They value lifestyle and their flexibility to do the things they want
30:10 They are the most likely to have no more than 1 employee beside themselves
30:31 You have to ask yourself how much time do you want to spend doing work for how much money
31:34 It is fascinating to know that in business you can be one type of profile and in the other you’re totally different
31:20 If we divide the four categories up into a square, the 2 groups that you fall into will be sitting on that one side of the square
32:14 There’s something to do also with the maturity of the business
33:22 Conclusion and wrapping up
35:27 Here is the link to the report The 2014 Infusionsoft Small Business Market Survey
36:05 Let us know what you think of the survey. Visit us at www.davidversusdavid.com or facebook.com/davidvsdavid
36:15 Leave us glowing 5-star reviews on iTunes
36:23 You can find David C’s other podcast, Insider Marketing Secrets in iTunes or visit our website for the latest blog posts. http://www.infernopromotions.com.au/latest-news/
36:39 It is definitely a good add-on on what we’re talking here at David versus David
36:57 You can also visit our personal sites. David Counsell’s www.infernopromotions.com.au and David Pritchards’ www.d10solutions.com
37:00 Goodbyes!