Latest / She's On The Money / Jasmine Garnsworthy on Investing In Your Greatest Asset, Yourself!

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Jasmine Garnsworthy on Investing In Your Greatest Asset, Yourself! · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
0:14
Speaker 1: of which this podcast is recorded on a wondery country,
0:18
Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.
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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
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Speaker 1: and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money.
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Speaker 4: Hello, and welcome to she He's on the Money, the
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Speaker 4: podcast Millennials who Want Financial Freedom. Today is Friday, which
1:04
Speaker 4: means it's time to get the team together and celebrate
1:07
Speaker 4: you the incredible She's on the Money community. Today, we'll
1:10
Speaker 4: be sharing our favorite money wins. Beck will be sharing
1:13
Speaker 4: a fun broke tip, and we'll be helping to answer
1:16
Speaker 4: a juicy money dilemma, which this week is all about
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Speaker 4: breaking down that mental barrier of investing in your side hustle.
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Speaker 4: We're also going to unpack something that you stit into
1:25
Speaker 4: our DMS out which this week is what to do
1:28
Speaker 4: when a family member takes a pet off of your
1:30
Speaker 4: hands but then follows you up for the vet bills,
1:33
Speaker 4: which I'm very excited to get into. But before we do,
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Speaker 4: no VD this week I know is a strange She's
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Speaker 4: away with her beautiful, beautiful bubba.
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Speaker 5: So today you might hear a new voice. We are
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Speaker 5: joined today by a friend of the show, Jasmine garnes Worthy. Jazz,
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Speaker 5: you have joined us before on the show, but for
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Speaker 5: those who don't know, can you tell us a little
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Speaker 5: bit about yourself.
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Speaker 6: Hi, I am so pumped to be here and very excited, Victoria,
2:01
Speaker 6: what a time. I am the creator of Female found World.
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Speaker 6: We are a community for women building businesses and based
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Speaker 6: out of the US, but we're starting to do a
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Speaker 6: bunch in Australia as well. And you know, I'm based
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Speaker 6: out of New York, so I'm remote today but so
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Speaker 6: excited to chat with you guys and go through all
2:19
Speaker 6: of those fun topics.
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Speaker 7: Yeah, we had so much fun.
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Speaker 4: VD sat down with you when we were in New York,
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Speaker 4: which is so exciting. What a crazy times. People should
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Speaker 4: definitely go back if you haven't listened to that episode.
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Speaker 4: Because it was such a good one.
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Speaker 7: But should we have a little bit of normalcy. Tell me,
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Speaker 7: how is your week? Everybody?
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Speaker 5: Yeah, well, I'll go first, just because it's gonna be
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Speaker 5: really quick. For me, it's been really chill. I've done
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Speaker 5: nothing but go to the gym. I'm obsessed with the
2:41
Speaker 5: gym at the moment. And that is my day on
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Speaker 5: a plate. That's my week on a plate. Actually, Jazz,
2:47
Speaker 5: how's your week been?
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Speaker 6: Oh, it's been pretty good, but quite full on. My
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Speaker 6: husband has been finishing up paternity leave. So I feel
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Speaker 6: like I've been lulled into this false sense of what
2:57
Speaker 6: the situation is the one year old and and you know,
3:00
Speaker 6: I feel like for anyone who has little babies and
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Speaker 6: at home, it's full on. And so it was really
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Speaker 6: great having him around to help. But back to work,
3:08
Speaker 6: back to the real world for him.
3:10
Speaker 7: He also for that full year.
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Speaker 6: He u said, you know, he did it in three batches,
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Speaker 6: which has been so lucky. He had three sets of
3:18
Speaker 6: six weeks, which was just incredible. And he took the
3:21
Speaker 6: last six weeks just before a baby turned one.
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Speaker 4: Oh, that is actually a really cool system. I've never
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Speaker 4: heard of anyone breaking it up like that. But I
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Speaker 4: feel like it's a nice way to almost dip your
3:31
Speaker 4: toe in, isn't it into the kind of you know,
3:34
Speaker 4: having someone there, not having someone there?
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Speaker 7: Then you have them there for a little bit, and.
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Speaker 4: Then you kind of got to reel it back in
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Speaker 4: before you get used to it, which is crazy, but
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Speaker 4: what a wild time for you. I can't imagine doing
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Speaker 4: everything that you do and having a one year old
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Speaker 4: in toe now as well?
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Speaker 7: Well you do it all.
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Speaker 2: Yes, seriously, that is so impressive.
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Speaker 6: It's full on, but like so many people do it,
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Speaker 6: and I've just been, you know, really trying to follow
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Speaker 6: them and watch them and just think, Okay, they can
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Speaker 6: do it. I can do it too.
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Speaker 7: Yeah.
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Speaker 5: Love that?
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Speaker 2: Love that all right? Jess, have you got some money
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Speaker 2: wins for us?
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Speaker 7: I absolutely do.
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Speaker 4: Let me start off this week with a money win
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Speaker 4: from Belinda, who said money win. I've become obsessed with
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Speaker 4: audiobooks recently. Spotify include them on a premium subscription, but
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Speaker 4: only fifteen hours worth, which doesn't always cover the book.
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Speaker 4: Didn't realize it took so long to listen to a book,
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Speaker 4: that's crazy. I googled and found that Audible was sixteen
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Speaker 4: ninety five a month, which I didn't think was too bad,
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Speaker 4: but then I realized that only includes one credit. Then
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Speaker 4: my Auntie told me you can download the Libby app.
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Speaker 4: It's free with a local library card subscription, and there's
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Speaker 4: always something to listen to, so effectively you can check
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Speaker 4: out an audiobook in the same way that you would
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Speaker 4: check out a regular book. She said, what a win. Plus,
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Speaker 4: I'm getting through lots more books while driving and cooking
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Speaker 4: than I ever could read physically.
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Speaker 2: I really like that.
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Speaker 4: I'd never heard of. Oh, actually, I think someone had
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Speaker 4: mentioned that app in the group before. But a really
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Speaker 4: good reminder. A tree with a library card. That's awesome. Next,
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Speaker 4: I've got a money win from Nicole, who said I
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Speaker 4: bought a couple of bits in the post Christmas sales
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Speaker 4: from Mecca and Sephora to save for friends' birthday gifts
5:02
Speaker 4: that are coming up. Cool, really smart. We love thinking ahead,
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Speaker 4: Mel said money win. I've gotten two zippers repaired this
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Speaker 4: week at a local outdoor type store, one for my
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Speaker 4: running pack and the other for Hubby's day pack. It
5:14
Speaker 4: costs less than a hundred dollars to repair them, and
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Speaker 4: it saved me like five hundred dollars that I was
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Speaker 4: going to spend on buying new replacements. Plus it also
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Speaker 4: gave me the warm fuzzies to repair something rather than
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Speaker 4: throwing it out.
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Speaker 2: Nothing more satisfying that I so.
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Speaker 4: Often think, Oh, I need to replace something when it breaks,
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Speaker 4: instead of just going how can I fix it? And
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Speaker 4: I feel like that's a habit of our generation because
5:35
Speaker 4: I think if I think about my parents, whenever something
5:37
Speaker 4: would break, they'd be darning it, or they'd be patching it,
5:41
Speaker 4: or they finding a way to keep it going.
5:43
Speaker 2: I think I haven't heard that word. And why after you.
5:45
Speaker 4: Brought up haberdashers, I'm like, are you sure you're habitashrous?
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Speaker 4: I did some research, but I really like I love
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Speaker 4: the idea of finding a way to kind of make
5:54
Speaker 4: it work. And then lastly, I have a money in
5:56
Speaker 4: from Kaylor who said I got a second housemate and
5:59
Speaker 4: now I'm getting four hundred dollars a week between the
6:02
Speaker 4: two housemates that I have, which is just shy of
6:04
Speaker 4: my mortgage replayment. Plus I'm getting back into selling and
6:07
Speaker 4: reselling things, so I'm making money back there too. So
6:10
Speaker 4: it sounds like she's a living landlord with housemates who
6:14
Speaker 4: are almost covering the mortgage.
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Speaker 7: It sounds pretty.
6:16
Speaker 3: Nice to me.
6:17
Speaker 5: Sounds pretty nice and that I shouldn't say too much
6:21
Speaker 5: because it's good clever.
6:24
Speaker 2: I'm going to make it very clever.
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Speaker 7: It is very clever.
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Speaker 4: But that's not all because we did say anyone who's
6:28
Speaker 4: going to come on the show, you had to bring
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Speaker 4: a little something to something of your own. So Jazz,
6:33
Speaker 4: have you got a money of your own to share
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Speaker 4: with us?
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Speaker 6: Yes, actually very similar to one of the ones that
6:38
Speaker 6: we just heard. But I have been visiting Australia, visiting
6:42
Speaker 6: family and heading back to the US and have been
6:45
Speaker 6: just stocked up on our winter wardrobe from Australia where
6:49
Speaker 6: everything is discounted because we're in the middle of summer
6:52
Speaker 6: over there. So that has been a big save when
6:55
Speaker 6: I look at the year ahead. And the other thing
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Speaker 6: is I also dropped an online course, made more money
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Speaker 6: than I thought that we would, and it's just been
7:03
Speaker 6: a real eye opener about different ways of increasing your income.
7:08
Speaker 6: I've never really thought about those kind of like digital
7:10
Speaker 6: products as being something that would really work, and it
7:14
Speaker 6: launched this week and has just been pretty incredible and
7:18
Speaker 6: a big eye opener about their potential there.
7:20
Speaker 4: Concrats, that's so exciting She's on the money does a
7:22
Speaker 4: few different online courses and it's really cool because it's
7:25
Speaker 4: such a great way to help other people.
7:28
Speaker 7: It allows them to learn at their own pace.
7:30
Speaker 4: We have a lot of people who are neurodiverse in
7:32
Speaker 4: our community, and you know, people with ADHD and things
7:35
Speaker 4: like that. Often traditional learning doesn't work for them. So
7:38
Speaker 4: online courses are awesome because, as you said, as a
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Speaker 4: business owner, for you or for someone like Victoria, it's
7:43
Speaker 4: an additional income stream. It's a really cool way to
7:45
Speaker 4: connect with people. But it's such a cool way to
7:48
Speaker 4: help consumers as well. What was your course about.
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Speaker 6: It's called Retail Bootcamp and it's all about how to
7:53
Speaker 6: prepare a business to grow through independent retail stoppice, which
7:58
Speaker 6: is something that a lot of those small businesses, you know,
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Speaker 6: they want to go after a big target or a
8:01
Speaker 6: Sephora or one of those big retailers, but or in
8:04
Speaker 6: Australia you know Coals or something like that. But really
8:07
Speaker 6: the way that a lot of these businesses are getting
8:09
Speaker 6: significant revenue and enough income to quit their jobs and
8:12
Speaker 6: do it full time is through these independent stockers. And
8:14
Speaker 6: so we worked with a bunch of businesses who are
8:16
Speaker 6: doing a lot of revenue through those channels and just
8:19
Speaker 6: put together this course like this is how you do that.
8:21
Speaker 6: And I've done the Money boot Camp or the Budget
8:25
Speaker 6: boot Camp with She's on the Money and loved it,
8:27
Speaker 6: very inspired by it.
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Speaker 4: It's very cool. I love the budget tool in that course.
8:31
Speaker 4: But that's a really cool concept. I always wonder how
8:33
Speaker 4: products gain to pick companies. So you go, how did
8:36
Speaker 4: Coles decide to have this brand of oatmeal considered that
8:39
Speaker 4: brand of oatmeal or whatever? Because that's so interesting.
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Speaker 7: Congrats, thank you.
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Speaker 5: Okay, So I actually have two broake tips, one for myself,
8:47
Speaker 5: one from the community, and I think Jazz you might
8:49
Speaker 5: have one for yourself after that, I've got one amazing Okay,
8:52
Speaker 5: So first one from me, this one comes from Amy.
8:55
Speaker 5: This one again and I'm trying to steer away from this,
8:58
Speaker 5: but it probably is more for people who live in Melbourne.
9:01
Speaker 5: I'm sure there's an equivalent in other cities and states.
9:04
Speaker 5: But Amy says shop at cheaper by Miles for cheap
9:07
Speaker 5: pantry items.
9:08
Speaker 2: Have you heard cheap miles.
9:10
Speaker 4: I feel like we've mentioned it on the pod before,
9:12
Speaker 4: but for those who don't know, yes.
9:13
Speaker 5: For those who don't know, it's basically, I believe it's
9:17
Speaker 5: like a store. It's like a regular grocery store, but
9:19
Speaker 5: I think it's like things that are being thrown out
9:22
Speaker 5: or discontinued that are still good. You're still edible, you
9:25
Speaker 5: can still use them, but they're just for whatever reason,
9:30
Speaker 5: not good enough for all worth and so and everything
9:33
Speaker 5: is so so so cheap. So I would recommend see
9:37
Speaker 5: if there's anything like that around you and shopping there
9:40
Speaker 5: instead of your Woolworths, your coals, your you know, places
9:44
Speaker 5: like that shop there too. I don't know if they're
9:46
Speaker 5: gonna we're gonna get in trouble.
9:47
Speaker 4: Of saying, I'm sure if we pop a throat in
9:49
Speaker 4: the Facebook group, I'm sure that people would be able
9:51
Speaker 4: to share an equivalent of that kind of store in
9:53
Speaker 4: the state that they're in.
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Speaker 2: Totally, totally I agree. And then one for myself.
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Speaker 5: So I used to do this when I lived with
9:59
Speaker 5: my best friend on the we had a fireplace, but
10:01
Speaker 5: this is also handy for if you have a bonfire
10:04
Speaker 5: or anything like that, especially during the winter. We would
10:07
Speaker 5: look on Marketplace and oftentimes there would be like in
10:10
Speaker 5: the free section, like spare bits of firewood from work
10:14
Speaker 5: sites or residential houses. From like renovations and things like that,
10:18
Speaker 5: just like spare bits of firewood that make sure you've
10:20
Speaker 5: got to make sure it's not treated and make sure
10:23
Speaker 5: you have permission. But if you're on a marketplace, you
10:26
Speaker 5: have permission. It's good for everyone involved because you get
10:28
Speaker 5: free fire wood for your fireplace that's warmth during the winter.
10:31
Speaker 5: And also they don't want to have to pay to
10:33
Speaker 5: get rid of it, so it's win win win.
10:36
Speaker 2: That's me jazz, if you feel free to share your
10:39
Speaker 2: break to here.
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Speaker 6: Okay, So I just went through and did this in
10:42
Speaker 6: my business, and now I'm about to go through and
10:44
Speaker 6: do it my personal life as well. And I went
10:46
Speaker 6: through all of my subscriptions, so the businesses that I'm
10:51
Speaker 6: subscribed to annually, and I reach out to them and
10:56
Speaker 6: I said, hey, I'm a small business. I'm a small
10:58
Speaker 6: woman owned business. We are doing this service and you know,
11:01
Speaker 6: we're really rooted in social good. Is there anything you
11:04
Speaker 6: can do to reduce your subscription rate? And so many
11:08
Speaker 6: of them came back and said yes. So I've instantly
11:10
Speaker 6: saved a couple of hundred bucks in the business looking
11:13
Speaker 6: ahead for twenty twenty four.
11:15
Speaker 7: That's cool.
11:16
Speaker 6: Yes, yes, and a lot of these startups. So you
11:19
Speaker 6: know who we subscribe to to host the podcast. They
11:23
Speaker 6: have a small team, and I've reached out to them directly,
11:25
Speaker 6: got an email back and instantly saved on that, which
11:29
Speaker 6: I'm thrilled about. And now I'm like, Okay, how many
11:32
Speaker 6: subscriptions do I have in my personal life? And who
11:35
Speaker 6: can I email to get a reduction on that? When
11:37
Speaker 6: I'm signing up for the year as well. I love
11:41
Speaker 6: that if you don't ask, you don't get.
11:42
Speaker 4: Yeah, And we have a lot of people in the
11:44
Speaker 4: Shoes and the money community who are small business owners
11:47
Speaker 4: or who work in nonprofits, so I feel like it
11:49
Speaker 4: would never have occurred to me. We've spoken before about
11:51
Speaker 4: going through and doing an audit of your subscriptions and
11:54
Speaker 4: getting rid of things that you don't need, but I
11:56
Speaker 4: don't think we've ever thought of going through and seeing
11:58
Speaker 4: if you can get a discount particular, you know, if
12:01
Speaker 4: you share a bit about you and your background and
12:02
Speaker 4: what you do.
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Speaker 7: That is such a good idea.
12:05
Speaker 8: Hmm.
12:06
Speaker 2: I love that.
12:06
Speaker 4: All right, let's head to a really quick break, you guys,
12:09
Speaker 4: and when we come back, we're going to jump into
12:11
Speaker 4: our juicy juicy money dilemma as well as answering a
12:14
Speaker 4: question all about what to do when a family member
12:16
Speaker 4: is looking after a pet for you don't go anywhere.
12:23
Speaker 2: Welcome back everyone. Here's our money dilemma.
12:27
Speaker 5: Hi.
12:27
Speaker 9: There, have you got a money dilemma you just can't solve?
12:30
Speaker 9: The Sheese on the Money team is here to help.
12:33
Speaker 9: Every week, we tackle your dilemmas, both big and small,
12:36
Speaker 9: to answer your most burning money, career and life questions.
12:39
Speaker 9: To get involved, simply head to our website and leave
12:42
Speaker 9: us a short voice recording and you might just find
12:44
Speaker 9: yourself on the show. Now, let's take a listen to
12:47
Speaker 9: this week's money dilemma.
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Speaker 5: Hi.
12:49
Speaker 8: Girls, I've made the decision this year to pursue my
12:52
Speaker 8: dream of starting my side hustle, which I'm so excited about.
12:55
Speaker 8: But as I've started doing research into everything, I'm realizing
12:57
Speaker 8: that it's a super big investment. I do have money,
13:00
Speaker 8: so but I'm finding I have a bit of a
13:01
Speaker 8: mental block parting with the money, thinking that I may
13:04
Speaker 8: not get it back. Any tips would be appreciated.
13:06
Speaker 7: Thanks, Oh good one.
13:09
Speaker 4: I like that our listener used the word investing in
13:12
Speaker 4: their side hustle because I feel like that kind of
13:15
Speaker 4: aligns with what they're saying about not knowing if the
13:17
Speaker 4: money is going to come back or not, which is
13:19
Speaker 4: kind of true for any investment that you make. But
13:22
Speaker 4: I feel like, Jars, you have so much to kind
13:24
Speaker 4: of share on this. I would love to hear how
13:26
Speaker 4: you decided that it was time to take that jump.
13:29
Speaker 4: Did you have the same kind of feelings about investing
13:32
Speaker 4: in what may have been a side hustle to start
13:34
Speaker 4: off with?
13:34
Speaker 6: Absolutely, Okay, I do have so many thoughts about this.
13:38
Speaker 6: First of all, I just want to tell this person
13:41
Speaker 6: to do it, and I'll give some tips about overcoming
13:44
Speaker 6: that mental block in a second.
13:45
Speaker 2: But do it.
13:45
Speaker 6: Don't hold back. You're not going to regret it. If
13:47
Speaker 6: you're in the same place any year's time and you
13:50
Speaker 6: didn't invest in it and try to do this, you're
13:52
Speaker 6: going to regret it. So one hundred percent, go and
13:55
Speaker 6: do it. Is one of those things that even if
13:57
Speaker 6: this isn't the thing, it's going to get you a
13:59
Speaker 6: step closer to thing, and that is always worth investing in.
14:03
Speaker 6: But in terms of actually overcoming that mental block, for me,
14:07
Speaker 6: I worked full time while doing my side hustle and
14:12
Speaker 6: made sure that what I was investing into the business
14:15
Speaker 6: was what I could genuinely afford. So it really took
14:18
Speaker 6: the pressure off in that way. And I also, you know,
14:22
Speaker 6: built the business to be profitable from the beginning. And
14:26
Speaker 6: if you're somebody who has an inventory based business, you're
14:29
Speaker 6: selling a physical product. That can be difficult because product
14:32
Speaker 6: it's expensive to get started. Maybe you're get doing some
14:35
Speaker 6: branding and you know you have to put some money
14:37
Speaker 6: up front, but you have to understand the numbers there
14:40
Speaker 6: to realize, Okay, if I sell this many products within
14:44
Speaker 6: this amount of time, or if I get this many
14:45
Speaker 6: clients within this amount of time, I'm going to be profitable.
14:49
Speaker 6: I think that there's so much content out there right
14:52
Speaker 6: now that is actually geared towards these big companies that
14:56
Speaker 6: have investors in venture backing, and they're talking about grow
15:00
Speaker 6: at all costs and get as many customers as you can,
15:03
Speaker 6: and it's just not the right advice for most of
15:05
Speaker 6: us building businesses and side hustles. We need to be
15:08
Speaker 6: thinking about that profitability and really the practical stuff about
15:12
Speaker 6: how do I support my life or how do I
15:14
Speaker 6: actually add more money to my life through this venture,
15:18
Speaker 6: And so make sure all of that math is mathing
15:21
Speaker 6: before you do that that.
15:22
Speaker 7: Is such a good call. The math's got a math,
15:24
Speaker 7: or it's not going to math, it's got a math.
15:26
Speaker 4: Yes, Beck, I know that you haven't necessarily leapt into
15:31
Speaker 4: side hustling, but I'm interested to see what you think
15:33
Speaker 4: about the idea of being brave enough almost to take
15:37
Speaker 4: that step.
15:39
Speaker 5: This is something I do say, and I had said
15:42
Speaker 5: this a couple of weeks ago when I was talking
15:43
Speaker 5: about like moving to Melbourne and like career wise, climbing
15:47
Speaker 5: a ledder. If you're starting at the bottom of a ladder,
15:50
Speaker 5: make sure it's one you want to climb or rather
15:52
Speaker 5: than being like halfway up you don't really feel any
15:54
Speaker 5: passionate about. So I guess my thing is like similar
15:57
Speaker 5: to what you're saying. Let's say, for exampample myself, I
16:01
Speaker 5: am going to be forty at some point if I
16:02
Speaker 5: wanted to start something. What I'm telling myself is I
16:06
Speaker 5: can either be forty with X, say forty with a
16:10
Speaker 5: small business, forty with more experience in kind of growing
16:15
Speaker 5: a business or running a business or whatever that might
16:18
Speaker 5: be forty. And let's say, for example, I want to know,
16:21
Speaker 5: take up an instrument or something. Either way, I'm going
16:24
Speaker 5: to be forty and do I want to get there
16:28
Speaker 5: and still be wanting that, or do I want to
16:31
Speaker 5: get there and be like a couple of years into
16:34
Speaker 5: nine years into the thing that I'm trying to get,
16:38
Speaker 5: you know, comfortable with and learn about and skilled in
16:41
Speaker 5: and things like that.
16:42
Speaker 2: Does that make sense?
16:43
Speaker 7: Yeah, one hundred percent.
16:44
Speaker 5: Yeah.
16:44
Speaker 6: The time is going to pass anyway, So do the
16:46
Speaker 6: thing exactly.
16:48
Speaker 4: That is such a good way to say, and I
16:50
Speaker 4: said it the longest way problem. That's why she is
16:54
Speaker 4: the expert. He's an expert.
16:56
Speaker 3: I think.
16:57
Speaker 4: For me, I really like what you said about on
17:00
Speaker 4: the side. We have our segment called The Business Bible
17:03
Speaker 4: that we do episodes every month that is specifically aimed
17:06
Speaker 4: at small business and side hustlers, because, as you were saying, Jazz,
17:09
Speaker 4: there's so much content out there for people who want
17:11
Speaker 4: to grow and scale and be huge, but not a
17:14
Speaker 4: lot of support for people who are maybe just trying
17:17
Speaker 4: to make a bit of extra cash, or they have
17:19
Speaker 4: this dream but they can't afford to go all in.
17:21
Speaker 4: They need to do it on the side, and they've
17:22
Speaker 4: still got to support themselves and their family. And we
17:25
Speaker 4: spoke a few weeks ago about how you sometimes you
17:30
Speaker 4: need to just take the risk, but do it safely.
17:34
Speaker 4: So start doing it on the side of your full
17:36
Speaker 4: time job. Start investing small amounts that you can afford
17:40
Speaker 4: to lose, because any investment involves risk. Investing in a
17:43
Speaker 4: business is just like investing in the share but maybe
17:46
Speaker 4: not just like investing in the share market, but it
17:48
Speaker 4: still comes with that risk, and you're totally right there
17:50
Speaker 4: is a chance that it won't work. But if that's
17:53
Speaker 4: the case, I think that there's something that you can
17:55
Speaker 4: take from that. Most businesses have failures before they have success,
18:00
Speaker 4: and I'd be really interested to know if you had
18:02
Speaker 4: any experiences like that when you were starting to build
18:05
Speaker 4: out your business where you know, something went wrong and
18:08
Speaker 4: you kind of had the option of throwing in the
18:10
Speaker 4: towel or you know, taking it as a learning and
18:13
Speaker 4: improving and continuing to build. Did something like that happen?
18:16
Speaker 6: Yeah, I would also say, like all businesses have failures,
18:20
Speaker 6: but all business owners have failures. I have multiple failed
18:24
Speaker 6: businesses that didn't work out before I got to the
18:26
Speaker 6: one that is now you know, actually able to pay
18:31
Speaker 6: for my life and is growing year over year and
18:33
Speaker 6: as you know, reaching lots of people. I had a
18:36
Speaker 6: beauty company and it was called the buff I started
18:39
Speaker 6: it back in twenty sixteen.
18:40
Speaker 7: Oh my god, I remember the bus.
18:42
Speaker 8: Yeah that was me.
18:43
Speaker 7: WHOA, I did not know that.
18:45
Speaker 6: Yeah, I started it back in twenty sixteen. We were
18:47
Speaker 6: one of the first customized beauty brands out there. Now
18:51
Speaker 6: they're everywhere. And I built that business. You know, within
18:54
Speaker 6: a week of launching, I was in vogue and this
18:56
Speaker 6: was I was labeling, hand labeling these products. And yeah,
19:00
Speaker 6: it was very bootstrapped and in the end the business
19:04
Speaker 6: there was a lot of a lot happening in the space.
19:06
Speaker 6: The business couldn't keep up with competition. I didn't have
19:08
Speaker 6: the skills that I needed to be able to do it,
19:10
Speaker 6: and I had to close the business. And that was
19:12
Speaker 6: devastating in so many ways, Like personally, I put myself
19:15
Speaker 6: out there. Financially, I'd put so much money into it,
19:18
Speaker 6: and I was just, you know, like, how am I
19:19
Speaker 6: going to come back from this? And what does this
19:21
Speaker 6: mean to me personally, financially, professionally. And then out of
19:26
Speaker 6: that came what I'm doing now and have been doing
19:28
Speaker 6: for the last few years, which has been my founder World,
19:30
Speaker 6: which is a much better business and way more suited
19:34
Speaker 6: to me and much more profitable. But if I hadn't
19:38
Speaker 6: done the first one, I never would have got here,
19:40
Speaker 6: and I could not have predicted that this is where
19:43
Speaker 6: I would have ended up. And all of the things
19:45
Speaker 6: that I'm doing now I learned through the fire of entrepreneurship,
19:49
Speaker 6: and so I really think that those big failures are
19:53
Speaker 6: actually learnings, and you need to take the long view
19:57
Speaker 6: when it comes to having a side hustle or stuf, adding
20:00
Speaker 6: a new venture or project, and really committing to that
20:03
Speaker 6: as like a life rather than maybe like just one idea.
20:07
Speaker 4: Can I ask this might be a little bit personal,
20:09
Speaker 4: and feel free to Obviously we can change it. But
20:12
Speaker 4: can I ask when you had that experience when the
20:15
Speaker 4: buff hit the point where you were like, point of
20:17
Speaker 4: no return, it's not sustainable, I can't do it anymore.
20:21
Speaker 7: How did you reconcile?
20:22
Speaker 4: I guess with yourself that you were going to take
20:25
Speaker 4: a hit, you were going to take a loss. You
20:26
Speaker 4: said you invested a lot financially, you had invested your time.
20:31
Speaker 4: I imagine there was probably a little bit of embarrassment,
20:33
Speaker 4: because you know, you've been in vogue and then all
20:35
Speaker 4: of a sudden to have to turn around and go, oh, actually,
20:38
Speaker 4: we're closing down. It sounds like our listener is nervous
20:42
Speaker 4: about the potential failure. How did you navigate through that
20:47
Speaker 4: failure because it was an experience that you had, but
20:50
Speaker 4: you came out the other side and now you're thriving.
20:52
Speaker 4: What did it look like to get from A to B?
20:55
Speaker 6: Honestly, it was talking with other people doing the same thing.
20:58
Speaker 6: And I think this is applicable to Yes, if you're
21:01
Speaker 6: in business and having that community of other business owners
21:03
Speaker 6: around you. But anything that you want to do, go
21:06
Speaker 6: and surround yourself with other people who are doing it,
21:08
Speaker 6: because they'll be getting having the same challenges, getting the
21:10
Speaker 6: same knockbacks, and they're the ones that really hold your
21:13
Speaker 6: hand and walk you through it and help kind of
21:15
Speaker 6: normalize the challenges and the ups and downs or whatever
21:18
Speaker 6: the thing is that you're pursuing that you've committed to.
21:22
Speaker 6: I was, you know, I didn't have a great community
21:25
Speaker 6: of founders around me, and that's one of the reasons
21:27
Speaker 6: why I started Female Founder World. But I was just
21:29
Speaker 6: reaching out to people on Instagram and then I was
21:31
Speaker 6: doing zoom calls with the ones who would and I
21:34
Speaker 6: was kind of talking it through and so many of
21:37
Speaker 6: them had had failed businesses before they did the thing
21:41
Speaker 6: that I knew them for and that I had idolized
21:44
Speaker 6: them for, and that they had built kind of their
21:47
Speaker 6: dream life. Many of them had failed businesses before they
21:50
Speaker 6: did that, and so I think just having that visibility
21:54
Speaker 6: and really seeing that other people had been where I
21:58
Speaker 6: had been and normalizing that, I think was such a
22:01
Speaker 6: big thing. So I think that this listener should go
22:03
Speaker 6: and find other people who are doing a small business
22:06
Speaker 6: in a similar area that she is and get them
22:09
Speaker 6: in her orbit in some way, because it'll just normalize
22:12
Speaker 6: so many of these challenges that she's going to face.
22:14
Speaker 7: That is awesome, that love us.
22:16
Speaker 4: I don't mean to do a full one eighty away
22:18
Speaker 4: from this incredible wisdom that you're just dropping on all
22:21
Speaker 4: of us. But we do have a very fun segment.
22:23
Speaker 4: Now it's our arguably, I would say, would you say,
22:26
Speaker 4: our favorite bit of the week. Yeah, our favorite rid
22:28
Speaker 4: of the week for sure for this segment, and it's
22:30
Speaker 4: where we chat through our community DM. So let me
22:33
Speaker 4: tell you what our listener said this week. Hey, girls,
22:37
Speaker 4: I have a dilemma. So I had to give away
22:40
Speaker 4: one of my beautiful dogs unfortunately, as he was not
22:42
Speaker 4: getting along with my other dog, and the situation had
22:45
Speaker 4: become too hot. My brother in law and his partner
22:48
Speaker 4: offered to take the dog, which was the perfect outcome.
22:51
Speaker 4: They've had the dog for about five months now and
22:54
Speaker 4: all has been going well until the other day that
22:57
Speaker 4: they text me saying they had got the dog D
22:59
Speaker 4: sxt and asked me to transfer them five hundred dollars.
23:03
Speaker 4: I was shocked that they asked me for this. I
23:05
Speaker 4: never asked them to get him D sxt and it
23:08
Speaker 4: was their decision to do this. Also, since they are
23:11
Speaker 4: now his owners, I thought they would have taken the
23:13
Speaker 4: financial responsibility of the dog on. I'm not too sure
23:17
Speaker 4: what to say. I don't think that I should have
23:19
Speaker 4: to pay for this.
23:20
Speaker 7: What do you think? Anybody got some thoughts?
23:26
Speaker 6: Well?
23:27
Speaker 2: What do you think?
23:27
Speaker 7: Jazz?
23:28
Speaker 6: Okay, I have really strong thoughts. Also, my dad is
23:31
Speaker 6: a vet and I have a very yes so I
23:34
Speaker 6: feel like I have a perspective here and I get
23:37
Speaker 6: very worked up about people not taking responsibility for their
23:41
Speaker 6: new owners. Are the new owners, they have taken responsibility.
23:45
Speaker 6: It'd be different maybe if there was like some underlying
23:47
Speaker 6: condition that they had known about and agreed to something.
23:51
Speaker 6: But if you take on the responsibility of having a
23:54
Speaker 6: pet that includes a financial responsibility, and it was their
23:58
Speaker 6: decision to get the dog desex. I really really believe
24:01
Speaker 6: that it's on them, and you don't want to set
24:03
Speaker 6: a precedent because what happens in five years when that
24:05
Speaker 6: dog needs something else? Are they going to come back
24:08
Speaker 6: asking for more help?
24:10
Speaker 2: I don't know.
24:11
Speaker 6: I wouldn't be I wouldn't be transferring that five hundred dollars,
24:13
Speaker 6: that's for sure.
24:14
Speaker 7: I can really agree.
24:15
Speaker 4: And DESEX thing I feel like, is something that it's
24:16
Speaker 4: you really need unless you're planning on having your pet
24:20
Speaker 4: have puppy more not puppies, but having kids. If that
24:23
Speaker 4: feels me to say, unless you're unless you're planning on
24:26
Speaker 4: having your pet procreate, you need to be getting at desex.
24:29
Speaker 7: It's like a basic health thing. It's a you know,
24:32
Speaker 7: if they.
24:33
Speaker 4: Get out and you don't want your dog populating every
24:35
Speaker 4: other dog on the road.
24:37
Speaker 5: Totally.
24:38
Speaker 4: I feel like that's such a standard expense too. Like
24:40
Speaker 4: you said, it's not as if it was a shock
24:42
Speaker 4: that came out of nowhere.
24:44
Speaker 5: Yeah, I guess, like maybe, but I am on your side,
24:47
Speaker 5: both of your side, because I definitely think the new
24:50
Speaker 5: owner should be paying for this, absolutely, I guess though,
24:54
Speaker 5: because it is a standard expense, one that you almost
24:56
Speaker 5: expect to already have happened. And then you receive the
25:01
Speaker 5: pet and like it hasn't been de sexed, then you
25:04
Speaker 5: might be like you might be inclined to say, hey,
25:08
Speaker 5: what the hell, like, why did you do?
25:10
Speaker 4: See You think that they assumed that the dog was
25:13
Speaker 4: d SX when they got it, That's.
25:14
Speaker 2: What I'm thinking.
25:15
Speaker 5: That's that I think is the missing context here, because
25:17
Speaker 5: it's the only thing I'm thinking Otherwise, like any other
25:20
Speaker 5: vet bill, any other anything, maybe micro chip, I'm not
25:24
Speaker 5: sure if that's the thing.
25:25
Speaker 7: You would just have to transfer it, I think, assuming
25:27
Speaker 7: the original.
25:29
Speaker 5: Okay, but yeah, if it's something that's like necessary that
25:32
Speaker 5: hasn't been done, you give the dog away. But even then,
25:36
Speaker 5: definitely the new owner should be paying for it. That's
25:38
Speaker 5: something I do not disagree with.
25:39
Speaker 7: Yeah, it's bizarre that.
25:40
Speaker 4: This is the first time that they're asking for money,
25:42
Speaker 4: which almost sways me to think that you might be right,
25:45
Speaker 4: because if they were expecting expenses to be covered, it
25:49
Speaker 4: sounds like they haven't asked for food costs to.
25:51
Speaker 7: Be covered or anything like that.
25:53
Speaker 2: Yeah, which is really interesting.
25:54
Speaker 4: But what we do is we ask our community a
25:56
Speaker 4: few questions to get their input because they're very smart.
26:00
Speaker 4: So we said, firstly, who do you think should pay
26:02
Speaker 4: for this? Five percent of people said the old dog owner.
26:06
Speaker 4: Ninety five percent of people said the new dog owner.
26:09
Speaker 4: Then we asked, do you think the financial responsibility of
26:13
Speaker 4: the dog became the brothers when he offered to take it?
26:16
Speaker 4: Ninety seven percent of people said yes, one hundred percent.
26:20
Speaker 4: Three percent of people said no, he was doing her
26:23
Speaker 4: a favor in looking after it, which I don't necessarily
26:26
Speaker 4: think he's doing her a favor. He agreed to become
26:28
Speaker 4: the owner much.
26:29
Speaker 2: Yeah, not looking after it really just owning it.
26:31
Speaker 7: Yeah.
26:32
Speaker 4: Next week said do you think being a pet owner
26:34
Speaker 4: is a big financial commitment? And ninety nine percent of
26:37
Speaker 4: people said yes, and one percent of people said no.
26:40
Speaker 4: And I want to know what the one percent of
26:42
Speaker 4: people were thinking, yea dying to know.
26:45
Speaker 6: They never had a pet?
26:47
Speaker 2: No totally? Or like what are they skimping out on?
26:49
Speaker 2: Like are they just like not visit?
26:51
Speaker 3: Usually?
26:51
Speaker 4: My cats have stomach problems, so now they eat six
26:54
Speaker 4: dollar tins of cat food.
26:55
Speaker 7: Ridiculous.
26:56
Speaker 2: Pet's a little.
26:57
Speaker 4: Money pit sometimes Lastly, we asked, on average, how much
27:00
Speaker 4: would you spend on your pet in a year. Five
27:03
Speaker 4: percent of people said one hundred to five hundred dollars,
27:06
Speaker 4: twenty seven percent of people said five hundred to one
27:09
Speaker 4: thousand dollars, forty two percent of people said one thousand
27:14
Speaker 4: to two thousand dollars, and twenty six percent said two
27:17
Speaker 4: thousand dollars or more.
27:20
Speaker 7: Wow.
27:20
Speaker 2: Wow wow.
27:21
Speaker 4: So the majority of people are spending upwards of one
27:23
Speaker 4: thousand dollars pets annually, which doesn't surprise me as a
27:27
Speaker 4: pet owner. Then we said to everybody, give us your
27:30
Speaker 4: two cents, and so a few people sent us their thoughts.
27:33
Speaker 2: I'm excited for this.
27:35
Speaker 4: It always gets a little bit interesting as well. So
27:37
Speaker 4: somebody said it sounds like the poster bought from a
27:40
Speaker 4: backyard breeder.
27:42
Speaker 2: Oh no, I don't.
27:45
Speaker 4: Yeah, I don't know why they I think maybe they
27:48
Speaker 4: think because it was d sex. I think a lot
27:51
Speaker 4: of the time, if you get them, if you get
27:52
Speaker 4: them from shelters, I'm pretty sure. And Jazz, you're probably
27:54
Speaker 4: know better than me. Here they come de SX. Don't
27:56
Speaker 4: they like it? Is it a requirement that they need
27:58
Speaker 4: to be?
27:59
Speaker 7: I think?
28:00
Speaker 6: So it does sound unusual for the dog not to
28:03
Speaker 6: be d SX unless she got it really young.
28:05
Speaker 7: Yeah.
28:05
Speaker 4: Well, and somebody else has said responsible dog owners d
28:08
Speaker 4: SX their pens owner number one should have done this
28:11
Speaker 4: in the first place. Sure, there's actually a lot of
28:14
Speaker 4: people that have said it was irresponsible to rehome a
28:17
Speaker 4: dog that was in d SX. It's very unusual to
28:20
Speaker 4: have a dog that's not d SX. So an interesting
28:22
Speaker 4: bit of context there that I feel like we're missing.
28:24
Speaker 4: I'd be curious to know why it wasn't d SX
28:26
Speaker 4: in the first place, true, or where it came from.
28:29
Speaker 4: Somebody else has said if the new owners have the
28:31
Speaker 4: pet registered to them, it is legally their property and
28:33
Speaker 4: therefore their responsibility, which I think is kind of the
28:36
Speaker 4: sentiment that we were leaning towards a little bit, which
28:39
Speaker 4: is you're a mum.
28:40
Speaker 7: Do the mum things.
28:42
Speaker 4: And someone did actually say being a dog mum or
28:44
Speaker 4: owner is an immense privilege that comes with a huge
28:47
Speaker 4: financial and emotional tax, which I think is a really
28:50
Speaker 4: good point to make. Lots of people are just saying
28:54
Speaker 4: pets are for life, pets are expensive. If you take
28:57
Speaker 4: on that responsibility, you take it on for or worse.
29:00
Speaker 4: You don't know what's going to happen, and so whether
29:03
Speaker 4: it's desexing, or whether it's treatments for some kind of illness,
29:06
Speaker 4: whether it's extremely expensive cat food, that's on you as
29:09
Speaker 4: the owner now to bear. How would you approach the
29:12
Speaker 4: conversation is my next question? What would you say to
29:16
Speaker 4: your or to our listener's brother in law.
29:19
Speaker 6: I think the simple thing here is you should have
29:22
Speaker 6: had the conversation with me beforehand. Yeah, you did it
29:26
Speaker 6: if you were expecting me to pay for it or
29:28
Speaker 6: pay for part of it instead of hitting it up
29:31
Speaker 6: after the fact.
29:32
Speaker 5: I totally agree with that, because you could be in
29:34
Speaker 5: any like you know, you're probably thinking that now I
29:38
Speaker 5: don't have to budget.
29:39
Speaker 2: For this pet as well money.
29:42
Speaker 5: You wouldn't have the money to just like throw away
29:44
Speaker 5: five hundred bucks to do sexist dog that you don't
29:46
Speaker 5: even own anymore, you know, So I feel like.
29:48
Speaker 2: Yeah, how would you have the conversation?
29:49
Speaker 5: I guess just maybe send them this exact episode so
29:53
Speaker 5: that they know that it's kind of universally agreed upon
29:57
Speaker 5: that they should be paying for this. But yes, they
29:59
Speaker 5: probably should. I have asked ahead of time before taking
30:02
Speaker 5: on the dog. Is it do sex. You can't assume
30:05
Speaker 5: these things you never know. So I get it, like
30:08
Speaker 5: I get it. You want you assume that it's gonna
30:11
Speaker 5: be sex and micro chip and whatever else. I haven't
30:14
Speaker 5: owned a dog in my adult life, so I don't
30:15
Speaker 5: really know all this stuff. But you assume that's gonna
30:18
Speaker 5: be there. You assume it's gonna happen already. The fact
30:21
Speaker 5: that it wasn't, it's unfortunate you still got to pay
30:24
Speaker 5: for it.
30:26
Speaker 4: Yeah, very interesting. We'll pop a post up on Instagram.
30:29
Speaker 4: Let us know what you think. I think it's a
30:31
Speaker 4: tough one because I kind of do see both sides.
30:33
Speaker 7: Of the story now.
30:34
Speaker 4: But I think ultimately, you're a pet owner. You've got
30:36
Speaker 4: to do what you've got to do to look after it,
30:37
Speaker 4: and you know they're a part of the family, and
30:39
Speaker 4: sometimes that means spending a lot of money for things
30:42
Speaker 4: you don't want to spend a lot of money on.
30:43
Speaker 2: So I agreed.
30:44
Speaker 4: I think that's the perfect place to leave it. Jaz,
30:47
Speaker 4: Thank you so much for joining us. If people want
30:48
Speaker 4: to find you, where can they go?
30:51
Speaker 6: Yes, find me at female Founderworld dot com, Bema founder
30:55
Speaker 6: World on Instagram or TikTok or my personal Instagram. I
30:59
Speaker 6: spend a lot of time on there. It's at Jasmin
31:01
Speaker 6: Gardsworthy incredible.
31:02
Speaker 7: She shares so much wonderful content.
31:04
Speaker 4: And if you haven't listened to the original episode that
31:06
Speaker 4: Victoria and Just Together, I highly recommend giving it Elisen.
31:09
Speaker 4: It's a great episode and it's always just fun to
31:11
Speaker 4: hear about female founders doing cool things.
31:14
Speaker 7: So thank you for joining us, thank you for having me.
31:17
Speaker 7: Wonderful to have you.
31:18
Speaker 4: Guys, don't forget you can join the Facebook group She's
31:21
Speaker 4: on the Money. We're on Instagram and TikTok at She's
31:23
Speaker 4: on the Money Aus and Victoria. We'll see you bradon
31:27
Speaker 4: early on Monday for my Darry. Bye, guys, Bye.
31:35
Speaker 9: The advice shared on She's on the Money is general
31:38
Speaker 9: in nature and does not consider your individual circumstances. She's
31:42
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31:45
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