7 Business Owner Archetypes - which one Are You? (and why it matters)
In my last post, I dove into the three systems you NEED as a small business owner to manage finances and fast-track business growth.
Here’s a quick recap of those 3 key systems:
Keep Meaningful Numbers
Make Decisions Informed by Facts
Take Consistent Action
As a CFO with years of experience, I can firsthand say that a business operating with all three of these systems in place is PURE MAGIC and can create predictable, repeatable success.
Now, almost every entrepreneur I know is rocking and rolling with at least one — maybe even two — of these systems in their business. With a bit of effort, it’s totally possible to build all three. And that’s a game changer.
What does it look like (and feel like) in real life when a business has one or two, instead of all THREE of these crucial business systems in place?
Take a look and see if you recognize yourself in any of these examples.
BTW: I've personally seen all of these archetypes build solid businesses. Having only one or two systems in place does not make you a bad business owner. The question is how rapidly you want to grow your company; and with how much stress. Usually, the first systems put in place reflect the personal strengths and professional skills of the business owner. The good news: these skills can be learned, and systems implemented by any business. And then, you’ll be on the way towards maximizing your company’s full potential as a resilient, profitable business.
Seven Small Business Owner Archetypes
The Action Hero
As the name implies, action-hero business owners are phenomenal at taking action!
And while she may be an action-taking rock star, internally things are chaotic and messy in her business because priorities shift so quickly no one has their eye on long-term goals.
This business eventually plateaus and feels as though it’s stalled in the middle of a hurricane — lots of action is happening, but no forward motion.
The Beancounter
Beancounters are awesome with numbers.
Honestly, a bean counter’s business is probably profitable with clean finances. The weakpoint is that the numbers aren’t closely linked strategically to the decisions being made or the actions being taken.
In this case, people may be get bogged down, and show up to punch the clock to get their work done. As a result, the company grows super slowly or just feels like it’s stuck in the sand spinning its wheels.
The Slapdash CEO
The Slapdash CEO loves making decisions!
She’s all about making lists of pro’s and con’s and dreaming-up what-if ideas. Without meaningful numbers to go on, her decisions are usually made on the fly and that can be costly for the business.
The people working for her are likely all operating with their own priorities without a lot of guidance on what to focus on, so the business feels scattered and unpredictable — like it’s moving in too many directions at once.
Now, when small business owners marry two of the three growth systems, things start to click more but they still haven’t quite reached the level of pure magic achieved when all three are combined.
Let’s take a look...
The Traffic Cop
Traffic Cop business owners use meaningful numbers and they take action in their business, but they are missing a framework in which to make their decisions.
In these companies, people are very busy! But business growth here is limited by the time and attention of the founder because, without decision-making systems, all tough calls come back to the owner.
This business is full of internal traffic jams which are usually accompanied by competition for the owner’s attention.
The Engineer
This business has solid, meaningful numbers that are used to make decisions.
However, the Engineer business owner’s shortcoming comes from a lack of accountability around execution. There’s a lot of wasted time and not a lot of traction or business growth as a result.
This business feels a bit like it’s slugging its way through a swamp.
The Speed Demon
The Speed Demon is all about taking action and making decisions... but she doesn’t have the meaningful numbers to back them up or manage finances in her business.
She’s taking her company in a direction fast, but it may or may not be the right one because her decisions are simply not grounded in reality.
Also, according to behavioral science, your gut is WRONG more than 50% of the time, so it’s quite the gamble to risk your business on gut instinct alone!
This combination of business systems leads business owners to drive their company blindly at high speed.
Whose driving when all three growth systems are harnessed to fast-track business growth?
The Conductor
The Conductor provides her business with high-level direction and strategy as her team works together!
How does a Conductor-led business work?
Has Meaningful Numbers
Books are up to date
Financial reports are meaningful & useful
Business growth is focused on profitable products & services
Makes Clear Decisions
Decision-makers have shared vision & values
Critical data is visible & actionable
Key decisions are based on an analysis of capacity, risk & environment - to support a healthy dose of instinct and strategy.
Takes Consistent Action
The company focuses action on short and long-term plans
The team embraces a culture of accountability and transparency around tasks
Everyone contributes according to their roles, skills, and abilities.
Does this sound like the kind of business you want?
At CFO on Speed Dial, we’ve developed a Fast Track Framework to get you there quickly.
You can get started with free resources when you sign up for speed notes: Speed Notes is a free newsletter and community for women, working to build profitable companies driven by social impact.
Twice each month, you’ll receive a newsletter with solid tips and tools for growth-oriented business owners who use numbers and values to drive decisions.
What are you waiting for?