[00:00:00] Fiona Johnston
We've made a lot of progress as a society in many of the areas that we needed to in the last few hundred years. But one thing that has not changed enough is money. If we want to be able to tip the scales towards the favor of marginalized people, we need to understand the secrets to making money in small business.
The more we talk about money and the secret that usually stay at the golf club, the more likely we are to be able to make money. My mission is to get more money into the hands of good people, specifically good business people like you. This is Money Secrets. The place to learn about the money secrets of successful small business owners.
Because I believe small business can change the world. And in order to do that, we need to be making a lot of money. Let's go.
[00:00:51]
This podcast episode was recorded on the lands of the Wurundjeri people of the Kulin nation. And I'd like to acknowledge them as the traditional owners and custodians of this land and water that I live. work and play on. I'd like to pay respects to Elders both past and present and note that sovereignty has never been ceded.
This always was and always will be Aboriginal and Torres Strait Islander land.
[00:01:23]
Hi there, it's Fi Johnston here from Money Secrets the podcast. Now a little while ago I did something that I've never done before. I created a documentary. I invited eight of my clients to a gorgeous Airbnb in Seddon, Melbourne, and I asked them some really spicy questions about money.
We turned that into a mini documentary called Lifting the Curtain. I had so much feedback about that documentary from small business owners, especially female small business owners. I thought that this would be the perfect place to kick off The Money Secrets. Podcast. In today's episode, you are going to meet Anucia Deboa.
[00:01:58] Anucia
Hi, my name's Anucia. I am a business in myself. I do multiple things. So I'm a model. I have a personal brand as well, and I create content for lots of businesses. And I have just launched my own business as a marketing brand consultant, which is. Anusha and I first met when she was working, uh, for one of my friends.
[00:02:14] Fi
We actually ran a small business incubator together. Anucia subsequently decided to go out on her own and not long after she decided to come and enroll in my program. Anusha has such an incredible infectious energy. I've loved seeing her. journey with money and how much she's embraced the education and knowledge that she's learned from me and others in her journey as a small business owner. I'm also really happy to call Nush a friend. She is an incredible small business owner and I think you're really going to enjoy hearing Nush's take on the money secrets that are happening inside her mind and how she thinks, feels and behaves with money. I hope you enjoy listening to her episode and I'm thrilled you're here.
[00:03:16] Fi
What is the best advice that you have been given about money?
[00:03:22] Anucia
Okay, the best advice I've been given about money would be not to be afraid to make it. I think that's what I learned this year. I was afraid of wanting too much for myself in terms of my earning potential. And when I stopped being fearful of like putting expectation on myself to make that money and being excited about making that money, that changed.
my whole perspective about my business because I was excited to make money rather than fearful about making money. Being allowed to want to make money has been a big shift for me.
[00:03:49] Fi
How much money did you expect to make in the first three years and how much did you make?
[00:03:54] Anucia
I don't know if I can answer this because I had no expectations.
So when I started modeling, which is when Seeing myself as a business started, I was still working full time. So I was like, I just like to make some extra cash. And then when I started getting the opportunity to make an actual income that could sustain me at least part time, that changed how I thought about it.
I've had to accept that in changing my life. Leaving full time work, building myself as a business. So really there's multiple businesses within that is going to cost money and investment in my, my business. So I haven't made, like I've made what I was making when I was a junior, but being able to accept that that's part of the journey and having the support to be able to do that and the belief in myself that that's.
Only now is really important.
[00:04:37] Fi
What is the biggest lie that you were told about money?
[00:04:40] Anucia
When? That 50 cent coins were worth more than 2 coins. That's one of them. I think going back to like Like, I think I was always made to believe that my earning potential was less through how I was valued, and that high income earning was not accessible to me unless I climbed a corporate ladder.
Like, that is the narrative that you've been told. And small business, you are always shown this story of people struggling and working really hard to make money, whereas I have found that releasing that That strive for the corporate ladder has made me more excited about making money, even if it's not as much.
That's the thing. Like when money comes in and it feels good, it feels different. It feels like it's worth more.
[00:05:18] Fi
How do you manage your money and how much money is in your bank account right now?
[00:05:25] Anucia
So I manage my money using the profit first little methodology that fee has taught us. So I split my money into my different accounts once a week and I sort out my pay because I get paid from multiple different places and it's. So I set aside time, I put money into those accounts. I have an understanding of what I'm aiming for. But also it's nice to see in my spreadsheet every week that I've got money coming in. Like that's really important for me. And I have transparency with that with my partner. Because I think that's a really important part of it when you start a small business. You are asking the person who shares their life with you to go in with you. So, having that set up has made it really easy for me to communicate with him how much we are collectively earning. And it's also just made me excited. Like, I actually love doing it. I love going in every week and being like, Divvy up all my things and be like, Ooh, look at it grow!
So, that's really nice. Yeah. Profit first, baby!
[00:06:20] Fi
Are you comfortable with money?
[00:06:22] Anucia
Oh, uh, probably not. I definitely have struggled with talking about finances and I don't know why. I guess it comes from watching your parents work really, really hard to make money. My parents both had very secure jobs. They work in government. My parents are both scientists. So like everything was like, you know, there's always progress in their careers and, but I watched them work really hard to get there. So I think that fear of not having is a big part of my issues with money. Sharing money is hard, especially when I started sharing financially with my partner, I'd actually just made been made redundant.
A week after we made that decision to share our finances. So that was a massive learning curve for me. And I was all of the things that I had grown up not wanting to be dependent on a man and wanting to be like this powerful woman who earned a high income. And I was earning more than my partner at that point to lose that and become dependent on him was.
So battling through that was a big thing for me to kind of like be open and let conversations happen and for them to not be stressful. And that's obviously become a big part of now, like being able to even just have conversations with myself about earning money and being honest about it and all of those things.
I'm getting more comfortable with money, but I haven't been in the past. I've been like very like, I don't want to talk about it. You deal with it.
[00:07:37] Fi
What has helped you to be more comfortable with money?
[00:07:42] Anucia
I think being in awkward positions when I've had to, like that being made redundant and having to depend on somebody else's finance.
didn't feel great. And even though I was so supported, like I was so supportive and they're just having to have those conversations and be very, very open starting this business. Now, you know what's made me more comfortable is I've worked in small businesses and I've seen what not having transparency and understanding of your finances can do.
It is the most important thing to run your business. And I've seen what happens if you don't get comfortable with looking at it and being across it and watching it grow and shrink and being Okay with it not being predictable like it is when you have an income you have to be and because I've had the joy Of working with small business owners and seen that part of their story. I just knew going into it That's why I did the course like I was like you need to be comfortable with this and you have to know You know that I knew
[00:08:28] Fi
What has been your biggest money mistake?
[00:08:33] Anucia
I would say this is a mistake, but a happy mistake. I put away too much money for the taxman the first two years because I was terrified of not having enough of the scary taxman coming with his briefcase, you know, but now I put away less, but still probably more than I need to, because.
I don't know, just for security, but I was putting away so much and I think that was a mistake. I think I undervalued myself because of it. I was fearful about it. Like it was, I was like a little squirrel, like putting it away in case, in case, in case. And that wasn't good for my mindset about making money, participating in keeping my family financially stable and all of those things. Like I undermined all of the things that I was doing by putting away half my salary and just doing that and not looking at it. Rather than having a look at it and being comfortable with it, knowing what was there for later and all of those things. So, It wasn't a spending mistake, it was a squirreling mistake more than anything.
[00:09:22] Fi
I love how Anosha talked about how in small business we are shown this vision of small business owners as people who are constantly stressed out, never have any money, always working. And that is a trope that actually really affects So, if that is a thought that is running around your head a lot, it's time to consider whether or not that thought is true, because a lot of the thoughts that run around our minds are not true.
They're just thoughts that we can allow to circulate. Sail on through our brains. What I want you to focus on instead, if this is something that has been impacting you, is that one of the simplest ways to start making more money in your business is to start getting clear about what's already happening in your business.
Once you have. Clarity about what's coming in, what's going out. And you have a sense of what you need to be doing to be hitting your personal and business goals with your money. Not only is that going to reduce your anxiety, it's also going to increase your confidence and having clarity about what's happening now and what you would like to happen in the future is the best way for you to start making more money.
[00:10:40]
Thank you so much for listening right up to the end. I hope you enjoyed this episode of Money Secrets, where we talk about the money secrets of successful small business owners. If you enjoyed the episode, I'd love it if you subscribe to the podcast, but leave us a review or share this episode with one of your friends.
I hope you learned something. I hope you got a new perspective and I really hope you enjoyed the listening experience. I'm thrilled you're here.
