How Accumulators can use Sacred Money Archetypes® to make more money
I recently had the opportunity to interview an incredible group of Accumulator entrepreneurs and alumni in my Sacred Money Archetypes(R) course. In this fascinating roundtable, we talked about the strengths and challenges these entrepreneurs experience as Accumulators and how they have learned to use their Money Archetype in their business.
Here's a summary of our discussion and please read the individual member's case studies and course reviews to find out more.
Our Accumulator Roundtable Guests
How did it feel when you found out you were an Accumulator?
(Click here to read Jenny's full review)
Personally, what I realized, because I know my family are quite good at math. They think if you need calculators or paper, then you're just, "What are you doing?" So, I'm the dunce of my family. So, it was really interesting finding out I was an Accumulator, and realizing, actually, I'm quite good at numbers and quite frugal with it. And I laugh so much because people kind of... "I'm Jenny." And it's like, "What do you do?" "I explain money." And so in the end, I called my business I Explain Money. So when I discovered I was an Accumulator, it made me laugh because I do have an accountant the same, because I don't want to do that bit. I like cash flow forecasts and making money. That's my favorite bit. And so, it really confirmed that numbers, and the detail, and the caution, was part of my personality.
When I found out Accumulator was in my top three, so many things from my life made sense, because there were things like... There was a time that I was fired from my job and I had no money. But I felt like, "Well, I can survive on nothing, so that's fine. I don't need a job." And then when I was a nanny in Germany for a long time, and I didn't open a bank account. I just kept my money in my sock drawer because I was like, "I can see my money here, and I don't need to trust any..." You had to pay 10 Euros a month to have a bank account. That was the thing, and I was like, "I'm not paying to have a bank account. That is ridiculous."
But now, in my business, I find that it's really helpful because it helps me... I find it really easy to invest in my business, because I feel like, "Oh, well, that's going to come back to me tenfold." Whereas, I still struggle a little bit on the personal front, to buy things that are just for myself, that feel frivolous, or extra that I don't need. Whereas in my business, I'm like, "Well, it's a business expense, so it's totally fine." So it means, when a business is concerned, everything's bougie, and extra, and the best of everything. And then at home, I'm like, "Oh, we don't need that. Just get the no-frills version." Or, "Let's cut back on this." So, yeah. It's funny. I feel like it's evolving as I go. So, yeah. Business expenses are okay.
(Click here to read Lata's full review)
Finding out that I was an Accumulator was not a surprise to me at all. I've always been a great saver. When I was a kid, apparently my siblings used to trade me the big, shiny 50 cent coins for the little, dirty $2 coins. And I was like, 'Yeah, yeah." So, I always had more money than them. So, being an Accumulator was not a big surprise. I like to save. I like to invest for the future, and make those kind of prudent investments. And return on investment is a really big thing for me.
(Click here to read Lennis' full review)
Oh, my goodness. I think, for me, the first realization, just with the archetypes, is that not everybody thinks like me, like an Accumulator. That was a big smack in the face.
And another part was just giving me context on why I struggle so much in my previous marital relationship. To be married to someone that was... His sense of safety did not come from seeing money in the bank. My sense of safety comes from seeing money, and having that cushion in the bank. So for me, he was a big risk taker, and seeing us living paycheck to paycheck just caused me so much emotional baggage.
And having clarity that, "Wait a minute. As an Accumulator, this is what makes me feel safe." And it's beyond frugality. It's like truly, my safety comes from seeing the money, saving money, putting it away. Taking care of it, so that it can take care of me later on. So for me, that was just a tremendous awareness that came from understanding that I am an Accumulator.
(Click here to read Susan's full review)
Surprised. Actually, I thought I was more Celebrity. I love to show off, and I like to buy expensive things, you know what I mean? And the more I realize I'm an Accumulator that I see, yes, I'm kind of very stingy on hiring people. You know what I mean? I mean, because I'm also realizing I can do the best job of everyone else. So when I'm hiring someone, I always think that's such a waste of money.
But I want to grow my business. I have to adapt to that. So this is the Aha moment, when I learned I'm the same way. And I said, "Yes, there's some certain people I do need to hire to help." So the first thing I did is to hire a CPA. I don't really love to dig around all the receipts, and take care of my own accounting. So, yeah. But that is my Aha moment, and also such a surprise to me.
How do your top three Archetypes work together?
Oh, my goodness. Knowing my other top archetypes was such a blessing for me. Number one, I think, as we're hearing with the Rulers, is the constantly working, constantly doing. And for me, that was also a numbing mechanism, because I didn't want to go through the process of healing the little traumas that I was carrying in my life. I was just constantly doing, and that's what I saw as a role model from my mom. So, recognizing that Ruler and saying, "I can lean into your strengths, but you don't have to Ruler over me," kind of mentality was really important.
And then the other one, which is Nurturer, I love the idea. And I am a natural Nurturer. I love taking care of my family, taking care of the people that I love. Very overgiving, to the point of stretching myself too much. So, bringing that back a little bit, and actually using the Nurturer towards me, shifting that energy for myself. That was a huge shift. Because as Accumulators, it's like, "Well, I accumulate things and I complete things. And then I have to work really, really hard." And then the Nurturer is like, "It's only for the external. It's only for people outside." So for me, it was just bringing it in, and using the Nurturer for myself, was a giant gift.
And in terms of how it impacted my business, I was able to let go of trying to do a one-on-one coaching system, because of the perfectionism from the Accumulator and the Ruler, I just wanted to move into my client's house and make them do some work. And that was just such a nightmare. So, I completely shifted my model to be similar to what Danny was saying, that I'm the consultant here. This is all the knowledge that I've accumulated. This is what you need to do, and these are the exercises. But I'm not doing it for you. So that was a big shift for my business.
And now the way I work is, I work as a group, and I see it much more enriching for the women to collaborate with each other. And for me, to keep that Ruler in the back, of not wanting to keep pushing them to work harder, which I'm trying to do the opposite.
So recognizing it was just a giant aha for me, just to bring the other two archetypes and play with them. Lean more into, I need my Nurturer right now, a little bit more than my Ruler. Or I need my Ruler right now when I'm launching my business, versus my Accumulator or Nurturer. So, just playing with them has been fantastic.
Probably with a bit of the Ruler too. That real, real, I guess, feeling like it's never enough, and really feeling, especially with... Obviously, as an Accumulator, I do save so much money that other people would just be gobsmacked. Before I moved to buy business full time, I had two years worth of living expenses in cash savings. But then, I still feel like that's not enough.
So, I really feel those kinds of Ruler sabotages start to come in, and really feel like it's not enough. And that's why, probably, it was a surprise to see that I was a Maverick, because that risk, I'm very risk averse. So seeing that riskiness start to pop up, it is like, "I will take risks as long as they're measured, and I'm certain of the return on investment on them."
How does your Accumulator sabotage you in business?
Yeah, so I think one of the main shifts was getting my Accumulator out of the wallets of my clients. And to stop assuming that everyone wants the rock bottom price, and the best deal, and a sale. As soon as I could let that go, and it was kind of a Maverick thing. I was like, "You know what? Let's try. Let's charge a day rate that's 10 times." What I was told at university and college was I was allowed to charge 10 Xs. See what happens. Worst case scenario, one person hires me. But then I've made 10 times the amount. And you know what? I did that, and more people hired me, and I was more in demand, and it was like this snowball effect.
And then my Accumulator, obviously, was really happy because it was like, "Oh, my goodness. Now we need to read about profit first, and put the money into the right pots, and get it all lined up and beautiful on this spreadsheet." See, I think my Maverick really helped with that. And my Ruler was really helpful with keeping going, and researching all the boring stuff like SEO, and how to get clients, and writing the boring SEO blog posts. Yeah.
But I think the main one that was getting out of the client's pocket, and just setting a price. Picking a price. And like you said, Denise, "Just pick a price. It's not carved into stone." And I've been at a price now that it's felt good for a year. But before that I was like, "Let's double that. Let's double that. Let's double that again." And it was just the incremental price increases were really interesting, but now I feel really happy at this price. And it feels like clients... Oh, I do get a lot of, "No. That's too expensive." But I'm totally used to it now. And then when people say, "Yes. It's a really good fit." And we work really well together, and they're hiring me because I'm an expert. And I've got that consultant vibe of like, it's a VIP one-on-one done fee sort of thing.
So, yeah. It feels really good. I think it's really helped me to be really happy in my business, and feel valued, and well rewarded financially for what I do, which is the dream, really.
But then, the flip side of that is that I don't like to spend money unnecessarily. So giving myself opportunities to treat myself, to buy things at full price, to invest in things that might save me time in my business, invest in help for my business, and not have to necessarily do everything myself. So while I do see personal development and business courses as being a great investment for myself and for my future, I often go into them thinking, "Oh, I'm learning it so that I can do it." And not necessarily thinking about how I could maybe be doing some learning, or doing some development, thinking how I could actually bring other people into my business to help me. So, a real reluctance to upgrade on technology, or support, or any of those sorts of things, and actually just spend that money.
I probably haven't invested in my business, and put the time into my business early on. It's probably taken me a lot of years to really even commit to my business and really be consistent with it, because I was more going for the sure thing, that career, that would actually get me that income. So, probably just business growth, but also speed of success would really heavily be impacted.
And probably also, a bit of a lack of empathy with clients and other people in my life, because I can't get my head around... I can't get my head around how other people don't have savings. I literally can't fathom it. So when people are like, "Oh, I can't afford the course, but I want to join it," my course, "At the end of the year."
I'm like, "How do you not have that amount of money sitting there?" Because it's absolutely unfathomable to me.
And by the same token, I often don't offer payment plans because I've always got the cash there and I want to get an upfront saving, so I'll always pay upfront. So probably, a little bit of a lack of empathy, where maybe I don't think about how other people, what their purchasing style is, or their decisions. And so, I might be sort of, I guess, resisting easy income, or alternative paths for income, because I am kind of stuck in the way that I think and the security that I have, and assume that everybody would have that as well.
(Click here to read Steph's full review)
I think for me, it was... You think that by being an Accumulator, you're going to be rich. You think that by saving, and not spending money, and being so mindful around money, that you're going to be rich. I am not rich. And so, I think it just created this awareness that there are people out there spending so much money, and they're still rich. They're not running out of money. So to me, it was the concept of there being different options. I think it was really fascinating for me, because I think you only know what you know. And so, before I was exposed to this world, I only knew about saving money, but that has not gotten me rich. And even by letting go of feeling like I have to hoard money, that's what's allowed me to be more financially stable. So, I think that's what it was for me.
I don't want to speak for everybody, but I think we do feel very stressed out by living the Accumulator lifestyle. I think it's stressful to always be paying attention to what you're spending and how you're spending, and it's stressful. And so, I think if somebody comes along and is like, Hey, let me help you not be this way anymore."
You're like, "Oh, please."
So, yeah. Those are my thoughts on it. I think you see that other people are doing things differently, and they are more successful than you are financially. But also, it's just a way to help things. There's a way to live, and there's a way to run your business that's not so damned stressful.
So, the thing is I need to use a lot of software to run my business, a lot of analyze sites, but I also can do it without the software. And the software charge is quite expensive, like a $100 per month, something. So, my Accumulator side is saying, "No. Just do it by yourself. Spend more time, and then you can analyze better." But actually, that's start of wasting time. If I just pay a hundred bucks for using the software, you know what I mean? So now, I learned from this program and I say, "Oh, yeah. Don't be cheapo. Just do it. Use the software. Help save more time and be more efficiency." So, that's the thing. Yeah.
(Click here to read Shazia's full review)
Many Indian families, we know this in our community, it's all about the Accumulator life. It's all about, do this first. Live very frugally. Do the thing. And then, years down the road, you can enjoy. So I grew up with that mentality. But I have this ability to do bold and risky things, and get all this money. But with that belief in the background, when I was 23 years old, I bought my first home. And nobody in my community, or circle of friends, was doing that. Because everybody, we had just graduated, we were just starting out. But I knew that the market was going to take off. And I decided if I can just save $10,000, I will get a house. So, I did it. And a year later, the market went crazy, and I sold the home and made a profit of $165,000, which was unbelievable. I'm 24 years old. I've made all this money.
And you know what happened? I totally sabotaged myself by... I put the money away and I said, "I'll save it for another time." But I ended up then moving into a home that I hated. It was this dark two bedroom condo. I thought I would be there for a year or so. It was so depressing to live there. It was such a dark time in my life. And I felt like I couldn't access the money that I had made. I felt like I couldn't have that money. And what's really interesting is that money sort of bled out through different ways. It just kind of went away. And I never got to enjoy that like, "Oh, I made this money. Let me reinvest it in something." Because my Maverick probably could have made a million dollars from it, or done something.
But I have this pattern of, the money comes in and then I'm like, "Oh no, no, no. That's not how life works. It's got to be slow and steady wins the race." And so, I do this expansion, contraction thing a lot. And so I've spent years. I mean, now I'm 42, so I'm talking about almost 20 years ago. I've really tried to move out of that, to hold the energy of my ability to bring in big chunks of money, and not-
And my archetypes are Maverick, Ruler, and Accumulator. And I've noticed I cycle between the three. They're all very, very close together. Very strong. But my Maverick is, it is me, through and through. And my Accumulator sometimes likes to be like, "You can't do that." But my Maverick is bold, and loves to do stuff, and take big risks. So, I'm really excited about our conversation today.
For me, it was all about time because I'm also a Ruler/Maverick. But I realized that the Ruler drove me so hard, and added with that, the Accumulator, I insisted on doing research and was very thorough. And so, whilst friends might be like, "Oh, let's just put a course together at the weekend and promote it." I just found that really difficult. I wanted to do it properly, and finish it, and research it, and think about it. And so, I've just kind of streamlined everything so that I'm really focusing on one target market. One, I've got two kind of main services that I sell. And then, I've stopped working weekends and evenings, and just having much more of a life, because I realized that Ruler will drive you unless you take the foot off the pedal, really. So for me, it was such a huge relief, not to have to work all the time.
What would you say to someone who wants to join Sacred Money Archetypes?
Who's thinking of doing SMA, I would definitely recommend it. Being an Accumulator myself, it is definitely an investment that has return on investment, in terms of being able to understand more about you, what drives you, what motivates you, what some of your gifts are, what some of your challenges are, where you might be holding yourself back, sabotaging yourself. But then also, where you can maybe step it up a little bit and go with the flow, and actually flow with your personality, and with your money archetype, rather than against it. And using that as a jumping off board, to actually go for your success and the abundance that you want for your life, and for your career. And I would also say that, for anybody who is thinking of... who works with people, which probably is all of us, it's also fantastic because you can really start to understand other people. Build empathy for how other people think, how other people feel. What their archetypes might be, and what might be driving them. And potentially open up new channels of success and abundance for yourself, as well.
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