Latest / Imagine If with Doone Roisin | Health, Wealth & Wisdom for Women (formerly Female Startup Club Podcast) / 6 quick questions with Pascale Helyar-Moray, Founder of Super Rewards (Part 2)
Transcript
- 0:00Welcome back. Here are the six quick questions. Question number one, what's your why? Why do you wake up every day and work on what's now known as grow my money? Very simply, the mission is for Aussies to reach financial freedom sooner.
- 0:27Love that. Love it. Question number two, what's been your favourite marketing moment so far? Being on Channel 7 News. What a thrill. Yeah. On day one of launch, it was just like, oh, my God, I'm on the news.
- 0:43That was awesome. Yes, guys, like you can send fan mail to my, you know, PR publicist here. It's actually kids, kids, watch, watch the TV. Oh, don't need to be told twice to do that. But, oh, mummy, mummy, you're on the TV. Yes, darling. Oh, my God, I love that. That was really cool. Yeah. What a highlight. Yeah. Question number three, what's your go-to kind of business learning resource if you have to think about a book or a podcast or a newsletter that you're consuming at the moment?
- 1:13Oh, I like Atomic Habits by James Clear. Good one. Real good one. Question number four is how do you win the day? What are your AM or PM rituals and habits that keep you feeling happy and successful and motivated? Gym in the morning. Gym in the morning.
- 1:32In the evening, it's just, honestly, it's just, you know, chilling with my kids watching TV. That doesn't necessarily keep me motivated, but what it does do is forces me to get away from the desk. Yeah. So then I can have that mental distance from work. Yeah. Reduce the cortisol levels. Yes, yes, yes, yes. Question number five, what's been your worst money mistake so far and how much did it cost you?
- 2:03We did have a team member who was, you know, a very digital, had come from Search World, and I tasked him with running some Facebook ads online,
- 2:22and on for a particular retailer and then you know so he he got them live and and so on and then he was reporting back the next week and he he says so blah blah blah right so that makes it 133 dollars per sign up and I have other people tell me that I just went white and I just stop them right now
- 2:50How many jobs that he made? Nine. Oh, my God. It was so bad. I was just – and then he showed me the copy and the cradio, and I just went, I've got a pretty good idea why these were performing like that. What's your, like, ideal CAC or cost per acquisition for something like that? Well, I think if you can acquire a customer for under $10, you're doing really, really, really, really well. Okay, right. Yeah. That's kind of like an industry benchmark. Everyone listening, $10. Yeah.
- 3:20I mean, it depends on the industry, right? Of course. But for you. Yeah, yeah. But in the super industry, for example, Superfund will spend anywhere between $400 and $2,000 acquiring a member. Mm-hmm. Yeah. And that makes sense. I mean, if you acquire a member into a Superfund, like, that's kind of probably for life, no? That's right. It needs to be much higher. Yes. Yeah.
- 3:43Okay, last question. Question number six. What is just a crazy story, good or bad, you can share from your journey of building Grow My Money?
- 3:53Okay, I've got two. One that does relate to the business, frankly. In our early days, one of our users said, oh, I don't even know why they told us, because clearly they weren't going to sign up, but they said, I'm really worried that you're going to take all the money out of my super fund to us. And we went, what? No, not possible. Just not possible. That would be...
- 4:19Highly illegal. A, highly illegal, but B, it just can't be done because of... Physically not possible. So that was crazy story number one. But it just showed that people think in a way...
- 4:32very differently to us. And you would only ask that question if you didn't know about super and if you didn't know about ASIC and regulations and so on. But anyway, so that was a learning point. But the other crazy story that I heard, and it's more generally from startup world rather than relating to the business, was...
- 4:52was I was talking to another founder one day because I get terribly worried about how we spend our money and, you know, it's like make it last, make it last, make it last. And then I spoke to another founder one day and anyway, we were just riffing, whatever. And then somehow he disclosed that he had used part of his last cap raise to pay his kids' school fees.
- 5:20And I just went, what? I'm sure that that wasn't on the deployment of funds slide for the investors. You're like, wait, this wasn't a secondaries round. What? It was really bizarre. Now, I don't know what's happened to him. I don't know. But I just remember hearing that and going, and he just seemed completely unperturbed.
- 5:48By my reaction, by me going, oh, that's not really a good use of investor money. And it was just extraordinary. And I think it's the thing that has stayed with me because it is just such a lesson. And it has always been a great reminder to me that when we go and raise money, how we spend it is so, so important because this is other people's money.
- 6:13Yeah. And they're expecting you to take it and turn it into a multiple. And you're just not going to achieve that if you spend it on the kids' school fees. Just thinking like big picture here, if you're taking these tiny amounts of commission, but over a collectively huge amount of spending, I'm wondering like for you,
- 6:36Does that make meaningful revenue or is it the day that you sell the company is when you make meaningful revenue? Yeah, we have other sources of revenue, including when we do partnerships, there's subscription fees and advertising and so on. Got it. Yeah. So it's a multi-revenue stream.
- 6:56Got it. Amazing. I've really enjoyed this. I don't have app and tech kind of featured enough on the show. And I've really loved this episode. And what I really love about it is your big picture thinking about a really big, awful problem that needs to be solved that is overwhelming to think about and that you've just gone in and tackled it head on. And I'm so grateful. Thank you so much for coming on the show. Well, thank you for having me. It's been a pleasure to just chat.
- 7:24Solve the problems of the world. Solve the problems of the world.
- 7:33Hey, it's June here. Thanks for listening to this amazing episode of the Female Startup Club podcast. If you're a fan of the show and want even more of the good stuff, I'd recommend checking out femalestartupclub.com where you can subscribe to our free newsletter. We send it out weekly covering female founder business news, insights and learnings in D2C, and interesting business resources.
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