In this new episode, Shannon explores the wisdom is profit formula she created to guide her clients to connect with what they know and turn that knowledge and their innate wisdom into profitable income streams.
With a passion for supporting the highly knowledgeable souls she works with, Shannon believes you have unconsidered opportunities right before you to expand your income.
Key topics shared
3.43 Why don’t people think they’re wise?
4.45 The wisdom woman
6.14 The “Wisdom is Profit” formula
10.49 Let’s take inspired action!
11.20 First reflection question
12.11 Second reflection question
12.30 Third reflection question
12.48 Fourth reflection question
13.18 “Wisdom is Profit” formula – practical exercise
18.53 The lenses of possibility and potentiality
27.00 Four M’s of momentum
She Lead She Thrives, the home of inspired conversations, practical and creative wisdom, expansive leadership and business insights, abundant Bragaudacious moments of celebration and useful info you can actually do something with.
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I’m Shannon Dunn, a true OG of the business coaching space, with an obsession with thriving. You are so welcome here. Let’s dive into today’s episode.
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I absolutely love the word wisdom. It’s if I reflect to word I resonated with all my life. It kind of just makes sense to me as a word to describe what I know, what I intuit and what I’ve learned and turned into useful learning. And as a side note, my first name Shannon actually means “little old wise one”. So maybe there’s something in that, I don’t know.
However, it’s not a word that everyone resonates with. I have had more people than I could keep count of tell me over the years that they are not wise that they don’t have wisdom. And I disagree. Welcome to She Leads She Thrives. I’m your podcast host Shannon Dunn. And as I will say every week I am excited and grateful to be back with a new episode. So today I want to unpack what wisdom is and share why I think particularly when you’re in business, that is your ultimate pathway to profitable income streams.
Now I know this because I’ve lived it in my own business and coach hundreds of clients determine what they know and have learned, along with their intuition and instincts into profit. Back in episode 1, the focus was on ingeniousness. And if you’ve listened to that episode, you might remember me referencing the word wisdom more than a few times. It’s totally entwined with the topic of ingeniousness and as I consider ingenious to be the action of wisdom or acting on your wisdom if you like.
Well, let’s get right back to the kind of core of this. Why don’t people think they’re wise? Well, I think it comes down to societal beliefs. A collective unconscious understanding that wisdom is directly related to intelligence and how smart you are. But that’s not the case at all. It’s a misguided belief and false understanding. Because everyone knows something, lots of things actually. Everyone has true lived and learned experiences. And the lived experience comes from what you engage in day to day and what you’ve gleaned from that. In contrast, a learned experience is directly related to some kind of learning you immerse yourself in whether it’s something like a self paced course or a program of some kind, formal education, informal education. These are all examples of learned experiences, your qualifications, your work experience, they also reflect your learned experiences.
Now a majority of my clients since day one in my coaching business, which is going back a long time now have had or do have the Mentor Teacher Thrive Factor Archetype in their Thrive Factor profile, like seriously, it’s easily 95% or more. It’s rare that I ever end up working with someone in any of the ways work with my clients, who doesn’t have the Mentor Teacher Archetype. It’s the archetype of knowledge and wisdom. And I often call her the wisdom woman. Like she knows a lot, she’s experienced a lot, she’s learned a lot. And she’s here to pass on what she knows for the benefit of others. So with so many clients having this trait, it became one of my niches, to support them to turn what they know into profit. Into income streams into turning, you know, that lived alone experience into getting paid.
A common thing we begin working through is a recognition of the value of all they know, and the value of their wisdom. And it’s such a transformation for so many. It frequently involves reframing the beliefs and the mindset around their knowledge and wisdom. So we can shine a light on what they know, identify what they can teach, and also what others value and could happily and excitedly pay them for.
So many have been surprised at just how effortless it is to create multiple income streams by turning their wisdom into profit. And surprised and how much they love the experience. Which brings my Inspirer Believer, which is the cheerleader archetype, so much joy, Mentor Teachers, and I can just affirm for you, I am one of them. It’s one of my four Archetypes we were born to share, to teach to mentor to guide. We literally exist in this world to facilitate transformation. We have an almost unquenchable thirst for knowledge. We like to understand we love to share, sometimes we over share, we are better when we let go of I don’t know enough, or I have to do another course program qualification have more proof before I can teach or share this. And this is what I adore seeing happen. This is also an opportunity for something to come to light in the coaching that we do together. And it’s what I call the experience of the “Wisdom is Profit” formula.
Now this formula, or this experience is definitely not just for Mentor Teacher archetypes. It’s valuable for anyone in business, particularly if you’re a service based business, but not exclusively for service based businesses. Product businesses can also if they wish to add an educational element to their business, I see that opportunity for that I should say I don’t see it happening as often as I’d like to, I see an opportunity for it happening. So there’s so much out there in the world.
Now, if I have shared this wisdom is profit formula in a few of my masterclasses that I’ve taught over the last couple of years, and it’s often part three, with kind of background foundations preceding it. But I can 100% share of valuable practical version of it with you, which I’m going to do now this is what the focus of today’s episode is all about.
The foundations of the formula around recognizing the awareness you have, of what you know, how much of what you know, you could turn into offers or income streams and your business inspiration reflecting on some of those things, like the opportunities that are there. You know, and have you thought about these in the past perhaps and done nothing with them, which is something that I often find in conversation with clients, we will identify an opportunity, a way for them to turn what they know into an income stream. And sometimes there’s a quiet little voice that will admit to me what I thought about doing that, but I didn’t think it would be a value. You know what, if you thought about it, it probably will be useful.
Now inspired action is incredibly important here. Taking action, trusting your instincts, learning to listen to the nudges. Or you might not get little nudges you might get big pushes. I know that my intuition and my experience can be either very quiet, but it’s usually quite bossy these days with a bit of an attitude of we’ve been here before, would you just do something with this? It’s about listening to yourself and what you actually want to do, to be, to have and to become.
Following what path you want to try, not blindly following what others tell you is the way, like what’s your path? What is your what is your life, your your work, your calling, your purpose, your impact your legacy? What is that asking you to come forward and do. It’s about trusting there’s always a way. Believing you can earn money being exactly who you are good money, sustainable money. And you can keep evolving, and be able to evolve your business model as you transform. It’s about remembering that you can attract the most incredible clients who are excitedly wanting to buy from you, on repeat. It’s about leaning into your strengths and using them like intentionally. Being in the space of possibility and potentiality. Being in the space of being your own cheerleader first, being in the space of knowing how to, and actually accessing your effortless success zone over and over again. This is the kind of thing that’s possible when you focus in on the wisdom is profit formula and turning what you know, into income streams.
So let’s start with some reflection questions to work through this formula. This is very much an active podcast episode for today. So if you can pause if you need to come back and listen to the rest of it another time because you’re driving or something or then I encourage you to do that. Maybe listen through now and come back when you can actually take the action. So go and get a journal or a notebook. And I’m going to share, I’ve got four questions to start with you before I talk to you more about the actual wisdom is profit formula.
This is a reflection opportunity for you to start and something that I’ve done in masterclasses to give people a chance to start to see what’s possible.
First question, how do you feel as you recognize how much you know? How do you feel as you recognize how much you know. There’s a side note to that I’m not talking about what you’ve just learned, for the business that you’re in right now. Think about your entire lifetime, whether in your 20s, your 30s, right through to your 70s 80s even. I don’t know who’s listening, if people have all different ages, every single thing that you have experienced or your lived experience, or your learned experience is of value. So how do you feel as you recognize how much you know?
The second question to reflect on how do you feel about your current income streams? This might be a really easy one to answer or you might have to ponder on it for a moment. But how do you feel about your current income streams?
The third question, have you ever seen opportunities to expand your income streams moving forward into the future? This is probably just a yes or no, you don’t need to list what they are but have you ever seen opportunities to expand your income streams moving forward?
And the fourth question to reflect on what excites or maybe energizes you most about turning your wisdom, remember, that’s your lived and learned experience and your intuition in there as well, about turning that into profit. So repeat that again for you what excites you or energizes you the most about turning your wisdom into profit?
Okay, so keep the answers to those in mind. And let’s dive into the wisdom is profit formula. Now you’ll want some blank paper or a journal page for this exercise. I’d like you to divide your blank page into three columns. Yeah, we’re going to work through column one, and then column three, and then come back to the middle column. So I’ve got three headings to give you one for each of the columns.
In column one, on your far left hand side. I’d like you to write the question, what do I know? And then I’d like you to say pause this episode right now, if you can, as I said, you can come back to this and do this at another time. But write down as many things as you can think of whether you aware that they do or don’t relate to your business. Forget about what you do in your business. Forget about what you’ve sold, forget about your programs, your services, your offers, your products, just answer the question, what do I know? So give yourself some time to do that now. And in a moment, I’ll come back and give you the heading for column three, which will be on your far right side of your piece of paper.
Okay, so let’s look at the third column. Remember, we’re going to leave the middle of this page and the second column blank. In the third column, the heading to write is another question. What do my ideal clients want to know?
Before you dive in and answer I just want to remind you that when I, so often when we talk about ideal client with can be very rigid. So the reminder is to consider your ideal client beyond their, say demographics, like their age, their location, their income, what they do that kind of thing. And think about the kind of people they are, what do they desire? What do they feel frustrated with, like, think about their emotional state, their behaviors, and those kinds of things. When you’re thinking of your ideal clients, not an ideal client, like in a single avatar, think about your ideal people. I know, for me, the easiest way to do that is to think about the people that I have worked with and do it with as clients that I would happily work with kind of forever, if that was the reality, and it was appropriate to do so which is not always the case. And then answer that question, what do my ideal clients want to know? Again, like you did for the first column with a what do I know? Pause if you need to, and if you can, if it’s safe to do so fill out that column, answer that question right now.
Okay, so the middle column, you can certainly consider the answers that you have in column one and column two, column three. But you can also answer this question as a unique question all on its own.
So the heading question for this second column in the middle of your page is, what do I most love to deliver? Or to teach? Or to share? Or a way to work with my ideal clients? Let me repeat that for you. What do I love most to deliver, to teach to share, or the way to work with my ideal clients. And again, just write down all the different ways that you can think of that you’ve really loved, that you’ve felt energized by that you would happily do again, even if you haven’t done them for a very long time? answer that question for yourself now.
Okay, so let’s come back and look at all you’ve written. I want you to just have a quick read over the answers to the questions in each of those columns. And to think about what excites or motivates you the most about what you’ve written, no matter what column it’s in, this can be a great time, if you’ve got another coloured pen or something, your highlighter, where you can actually make a note of what is really jumping out for you from the page.
And then a question to ask yourself, this is a very Mentor Teacher thing I must add as well asking lots of questions. It’s also very coach driven thing. But the next question to ask yourself is what if there were no barriers in the way? Would I turn into an income stream in a heartbeat? So barriers can be things like I don’t know how I don’t know how I price it? Do I know enough yet?
All those kinds of things that can often run run to a particular Mentor Teacher’s mind? Let them go. Just let them drop away, let them fall away? And what if there were no barriers in the way would I turn into an income stream in a heartbeat. Like I say use another colour pen to highlight what stands out for you.
This in itself can start to kind of send light bulbs off in our head. So to kind of spark excitement and create that energy of what I would call inspired action where we just want to go and do something with it. But there’s another step to this formula that I’m going to talk you through before you run off and turn something into a brand new offer which I want you to do 100% But let’s just pause for a moment. Okay.
So over the page, to that divide this new fresh hopefully blank page into half so we can explore two of your light kind of forms of wisdom from an other lenses. The lenses of possibility and potentiality. Now possibility there’s three questions I would encourage you to ponder and to answer for yourself. Now if you’re getting kind of stuck in all the I don’t know where the questions are, or I’ve lost the track of the questions. This is probably a good time to remind you I probably should have reminded you earlier. There is going to be a transcript for every single episode of She Leads She Thrives podcast. So that is the place to go they will always be on my website, thrivefactorco.com you will be able to go to my blog or the podcast page and find the particular episode, which you’ll be able to see the name of it and the number of wherever you’re listening from. And that’s where you’ll be able to get the questions so you can make sure you got them. Because this is a formula not to just do once I do this numerous times in my year, just to check in, like, what am I actually doing with what I know? Am I actively turning my wisdom into profit?
Alright, let’s get back over to the second page, where we’ve got it divided in half. And we’re looking at possibility and potentiality. Now the reflection questions for possibility? How could I package what I know? and what they want to know, then your ideal clients into one or more new aligned income streams? So let me repeat that for you. How could I package what I know? And what they my ideal clients want to know, into one or more new aligned income streams? That’s the first question to reflect on.
Let me give you the other two. And then if you need to, you can pause and answer all those questions, or come back and do it another time. The second question related to profitability or I should say possibility not profitability, is how could I amplify my current income streams to earn more? That’s why I thought it was a profitability question, how can I amplify my current income streams to earn more?
And then the third question is, what are the tangible benefits my audience can experience the benefit of what it is that you’re selling is the thing that people buy into, I will promise you, I will do a whole other episode on benefits and benefit statements and how to actually weave true tangible benefits into your marketing, because it is a game changer and something I absolutely adore teaching. But for today, I want you to think about what are the tangible benefits my audience can experience? So they’re the questions related to possibility.
Potentiality is not going to be what you’re going to write on the second part of the page, I want to talk about potentiality in relation to possibility. So often, when we think about possibility, we get caught with a “but I don’t actually know how”. This is where I see the opportunity for potentiality to rise up.
Potentiality, when I think about that, as a word is that the the potential of something? Yeah, might feel similar to possibility. But I feel like it has a different energy to it. And when I think about the potentiality, I feel like it’s an unknown. Because guaranteed, we do not know what’s going to happen later today. Tomorrow, next week, then the rest of the year, moving forward in five years time. We can plan, we can consider we can be intentional, we can manifest we can take action, but we don’t actually know what is going to become our reality.
That can be overwhelming. It can be scary, fearful for some people. For me. It’s probably my Visionary Creator Archetype. But for me, that is exciting. It’s an expansive energy. So bring that into answering these questions related to possibility.
Now let’s have a look at what is going to go on the second half of that page is under the heading of profitability. Remember, this is the wisdom is profit formula. If we don’t talk about profit, we’re missing a huge part of the opportunity that is offered to you here to turn your wisdom into income streams and profitable ones.
There are four questions under the heading of profitability. So let me share those with you now. And then you can again pause if you want to come back to it another time. And actually write your answers to this. The first question to consider under profitability is what excites me most about sharing this or these offers. So the things that you’ve identified as possible or potential for you. What excites me most about sharing this or these offers?
The second question, and this is something to really trust your intuition. Trust your gut instinct go with what you your first comes to mind. So the second question, what price point covers the expenses to create and deliver this offer, including paying myself. So what price point covers the expenses to create and deliver this offer, including paying myself? I add that in because I don’t know why I still get surprised about this because I’ve seen it so many times. But so often when we look at the expenses related to business, we forget about factoring in making sure that we’re paying ourselves. Your business doesn’t exist to just pay your bills. Yeah, it exists to pay yourself, again, whole other opportunity for an episode. And in fact, in the future, I will get a profit first, professional certified Profit First professional to come and talk to us about that formula because it is magic.
The third question under profitability as our heading is, what price point makes this offer profitable. Now, if you don’t know how to work out the profitability of what it is that you’re offering, then that is something to reach out to your trusted money professional to ask. I am not a money professional, I’ve certainly got money coaching qualifications, and I know how to work out profit margins. But that’s not my role in this space. So please, if you don’t know going reach out to your trusted money, or wealth professional and ask them to show you how to work out the profitability in the individual things that you offer in your business. There might be a bit of extra homework for you to do, but trust me, it’s going to be so worth it.
And the final question related to profitability, what price point excites me most for this offer? Now this is where you definitely want to go with your first instinct, that price point that dollar point could be very different to the answer to the question previous. Ideally, if it’s different, you want it to be more. Yeah, you want to make sure that you are really padding in beautiful, excitable, abundant profitability into your offers.
So there’s a bit to the formula, there’s a lot of reflection, there’s some actual factual information you need to find. But it’s going to serve you so well when you can understand this and you can use this as a way to guide yourself to okay, what do I know? What can I do with it? Like how can I turn it into income streams?
Okay, so as an amplified version of this formula, or to amplify the version of this formula, is to weave in what I call the four themes of momentum. The mindset, the marketing, the money and the magnetism expression of your Thrive Factor Archetypes if you know them. If you don’t know them, please reach out to us at firstname.lastname@example.org and we can let you know how you can find out what your Thrive Factor Archetypes are.
Now, if you don’t know them, and you’ve been listening to She Leads She Thrives, podcast, the team at or my team, a Thrive Factor Co will even share a code for you to save 26% off your Thrive Factor profiling experience with me. And this goes for all three options that we offer for you to get to know your archetypes. I don’t never I hardly ever offer a savings on this. But I want to reward you and say thank you to you for being a regular podcast listener. And if you don’t know your archetypes, this is a great way to dive in and to make that investment.
If you do know your archetypes go and have a look at those four M’s; the mindset, marketing, money and magnetism expression of your archetypes. Don’t just focus on the money, look at the other things as well. And think about how you can really harness the energy of your archetypes, whether you’ve got 3,4,5,6 because anywhere between three and six of the 12 is what we usually see in a profile. Don’t forget about them, don’t ignore the fact that they are a blueprint directly tapping you into exactly who you are. And they are your way to unlock your effortless success zone. And they are a way for you to activate more thriving.
I don’t know about you, but for me, when I think about business, I think about thriving as a business woman that is about earning profit. It’s about taking what I know and turning it into income streams, loving every moment of what I’m doing, feeling energized by it, and getting paid really well for it. Now, I love sharing this with you today and look forward to seeing examples of your wisdom turned into profitable income streams.
Like if you ever want my help with this, please reach out and ask. You know there is opportunities for one on one coaching. There are programs, there are masterminds at different times, lots of different ways and so much of what I focus on in my coaching is focused on this. It’s not the only thing definitely not, but it this is such a key part. If you’re in business, you want to be earning money, right you need to be earning money. And as I said before, it’s not about earning money to pay your expenses. It’s about earning money to pay yourself and cover your expenses and hopefully create more wealth for yourself.
Your wisdom is 100% your ultimate pathway to profit. Don’t forget that. Until next episode, I wish you an overflow of thriving, ambitious ingenious soul and as always remain If you are a superstar I will always say keep shining, keep thriving, and I will be back with you very soon.
Thanks for tuning into today’s episode. You are so valued and appreciated.
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