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Meet The Woman Getting Brands To Pay For Period Products Instead Of Women · She's On The Money

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  Speaker 1: My name's Tatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country t glennyan Ganya, Niana,
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  Speaker 1: kaka yah Ya binahaka nian arka In, Nimbini, yakarum jar
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  Speaker 1: doumayamiga umaga ihowaka waman dam and imalan ummabang gadabomba in
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  Speaker 1: and naw in waka ghana on yakarum jar Watanadana. Hello,
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  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
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  Speaker 1: We thank acknowledge and respect the Aberiginal people's land that
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  Speaker 1: we're gathering on today. Take pleasure in all the land
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  Speaker 1: and respect all that you see. She's on the Money
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  Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
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  Speaker 1: knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money. She's on the Money.
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  Speaker 3: Hello, and welcome to She's on the Money, the podcast
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  Speaker 3: that talks about all the issues that affect your bank balance,
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  Speaker 3: especially things that aren't fairly target women. And we are
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  Speaker 3: looking at one of the most normalized monthly expenses in
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  Speaker 3: women's lives and asking why is it something that women
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  Speaker 3: put the bill for without debate, and that is period products.
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  Speaker 3: I'm Victoria Devine, and today we have a very special
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  Speaker 3: guest who asked herself that very question and basically said, no,
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  Speaker 3: we're actually not going to be doing that anymore. She's
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  Speaker 3: the founder of On the House, the business challenging why
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  Speaker 3: we've all accepted paying for period products as a given.
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  Speaker 3: Before this, Remy was working in healthcare, seeing firsthand what
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  Speaker 3: happens when access to something basic becomes a financial stress.
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  Speaker 3: So instead of accepting this as part of the long
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  Speaker 3: list of things that women are told to just manage,
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  Speaker 3: her solution make them free by getting brands to fund
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  Speaker 3: them instead. The idea is incredibly smart and it forces
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  Speaker 3: a bigger question about who's actually been footing the bill
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  Speaker 3: all along. Remy Tucker, Welcome to She's on the Money.
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  Speaker 2: Hi, so nice to be here. Excited to chat with you.
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  Speaker 3: No, I'm excited to chat with you because what you
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  Speaker 3: do is just so cool and I'm so excited about it.
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  Speaker 3: Who were you before on the House And how did
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  Speaker 3: everything in your life lead to this? Yeah?
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  Speaker 2: Well it was one of those weird like doors what
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  Speaker 2: do they call it? Revolving door moment?
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  Speaker 3: Yeah, sliding doors on evolving doors.
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  Speaker 2: I never get it.
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  Speaker 3: I never get it right.
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  Speaker 2: I'm like the guy from the office. I always like,
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  Speaker 2: get up my saying that's my mum.
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  Speaker 3: Literally like side note, you know, the saying like junk
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  Speaker 3: in the trunk, she says rubbish in the boot. Like
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  Speaker 3: I'm not even joking.
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  Speaker 2: It's like Michael Scott, Yeah, I'm Michael.
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  Speaker 3: Yeah.
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  Speaker 2: So I had two totally different careers that combined to
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  Speaker 2: what I'm doing now. So I first started as a
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  Speaker 2: student midwife. I did that for about two and a
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  Speaker 2: half years. So birth a lot of babies, got into
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  Speaker 2: the business of fannies was really where it all began.
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  Speaker 2: And I had my finger on the pulse in the
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  Speaker 2: community and was really, you know, witnessing first hand issues
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  Speaker 2: that you wouldn't usually see if you were just you know,
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  Speaker 2: a general civilian, like you're not out in the community,
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  Speaker 2: and seeing all of these hardships that are happening so
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  Speaker 2: certainly worse end of the spectrum. But I had women
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  Speaker 2: telling me these stories that they were having to choose
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  Speaker 2: between things like baby formula for their newborns and period
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  Speaker 2: products themselves or another you know, one of just women saying, oh,
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  Speaker 2: do you have any period products for me to take
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  Speaker 2: home when they're leaving the birthing suits. And I was like, no,
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  Speaker 2: we don't offer that. But also, why is it so
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  Speaker 2: hard to access period products? And I can't people afford
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  Speaker 2: these things? Got to like admit my privilege here, Like
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  Speaker 2: I had never one hundred about that. My parents had
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  Speaker 2: always you know, I was only seventeen eighteen at the time.
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  Speaker 2: My parents had always provided me period products. I never
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  Speaker 2: had to worry about it, no, And I was just
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  Speaker 2: witnessing and then I was it was like a yellow
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  Speaker 2: car theory, right, Like, once I saw it, I was
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  Speaker 2: kind of, yeah, noticing it everywhere. And so I was
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  Speaker 2: went into the grocery shops and I was like, they
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  Speaker 2: were like six dollars fifty for a pack at the time.
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  Speaker 2: Now they're like eight dollars fifty. It's it's crazy.
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  Speaker 3: It is crazy.
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  Speaker 2: And you also like, that's not all you need for
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  Speaker 2: anyway get into that life.
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  Speaker 3: That's so true. And I'm someone who has had two
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  Speaker 3: babies and you're going through like the private Sea, which
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  Speaker 3: again I'm very privileged to have done so, and even
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  Speaker 3: there they tell you to bring your own pads and
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  Speaker 3: I remember being like, wait.
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  Speaker 2: What hold, yeah, I'm paying a lot of money to
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  Speaker 2: be that, but also like.
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  Speaker 3: We get a list of you know, what to bring
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  Speaker 3: to the hospital, and like on the list they're like,
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  Speaker 3: we provide nappies, we provide wipes, and you're providing all
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  Speaker 3: of this. But then they're like, BYO pads.
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  Speaker 2: Woman's just left out on the wae.
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  Speaker 3: Am I not the patient?
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  Speaker 1: Yeah?
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  Speaker 3: Definitely, am I not bleeding? But deal with that part yourself.
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  Speaker 2: Yeah, that's crazy.
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  Speaker 3: It's insane to me. And I know that the exact
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  Speaker 3: same thing happens in the public system, but to another
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  Speaker 3: level because you have to usually provide your own nappies
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  Speaker 3: and your own wipes and all of your own everything
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  Speaker 3: even in the private system. I was like, hold on,
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  Speaker 3: so you're telling me the priority is obviously not on me,
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  Speaker 3: the one who's just gone through a.
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  Speaker 2: Traumatic birth, the most painful thing anyone can experience.
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  Speaker 3: What the heck?
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  Speaker 2: Yeah, with your Yeah. So it was like yellow car
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  Speaker 2: through So I started noticing everywhere, and then I was like,
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  Speaker 2: hold on every public and commercial bathroom. I was going
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  Speaker 2: into you know, the gym, the you know, at your
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  Speaker 2: local Westfield everywhere. I was like, there's no period products
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  Speaker 2: in the bathrooms. There is always free and accessible toilet paper,
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  Speaker 2: but never any period products.
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  Speaker 1: Yeah.
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  Speaker 2: I use this example a lot, especially forgive me. But
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  Speaker 2: in meetings with men, usually like a big board meeting,
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  Speaker 2: they're not quite clicking on the issue because it's not
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  Speaker 2: something that they've had to experience themselves. So I have
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  Speaker 2: to explain it a different way. I say, imagine if
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  Speaker 2: you were busting for a pooh and you walked into
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  Speaker 2: a public bathroom and you were expected to bring toilet
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  Speaker 2: paper with you, how upset would you be? Now Like yeah, no,
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  Speaker 2: Like it's exactly the same, but worse because we can't
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  Speaker 2: feel one coming on. No, And it's also just oh yeah,
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  Speaker 2: so and so what is happening is you know this
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  Speaker 2: huge ripple effective you know, women not being out of
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  Speaker 2: access period products. So that was where I saw all
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  Speaker 2: of that, and it cemented in my head or like
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  Speaker 2: lit a fire in me to create change, you know.
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  Speaker 2: I was like, Okay, this needs to be solved. Had
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  Speaker 2: no idea how to do it at the time. So
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  Speaker 2: I actually ended up leaving Midway free and working or
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  Speaker 2: going to study business and marketing and working in the
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  Speaker 2: marketing and advertising industry. So I had two totally different careers.
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  Speaker 2: I was about to say that's a bit different. Were
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  Speaker 2: you like so different?
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  Speaker 3: The business of Fanny's is two match.
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  Speaker 4: Yeah.
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  Speaker 2: Honestly, I loved the work like I loved being a midwife.
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  Speaker 2: I think I just had a bad run at the start,
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  Speaker 2: Like I saw a lot of you know, things that
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  Speaker 2: probably are very junior midwife should not see straight away,
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  Speaker 2: and so I was a bit you know, jilted from
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  Speaker 2: that traumatized. Yeah, and then I also was just like,
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  Speaker 2: you know, you get paid like ninety K year max, Yeah,
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  Speaker 2: as a midwife and you work, you know, twelve hour
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  Speaker 2: shifts in a hospital with no windows or something that's.
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  Speaker 3: Probably I feel like I want to give yeh, yeah,
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  Speaker 3: I have more to give.
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  Speaker 2: So so yeah, and it always had this entrepreneurial spirit
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  Speaker 2: in me, Like I always knew that that's quite embarrassing
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  Speaker 2: to say out loud, but I always knew I was
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  Speaker 2: going to do something that would change the world. Like
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  Speaker 2: that was genuinely what I felt like, no rely.
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  Speaker 3: Like as somebody who also feels that, yeah you get it,
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  Speaker 3: I get it. And I sound weird embarrassing to say.
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  Speaker 3: It's not embarrassing, like Mayor de Lulu come true to.
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  Speaker 2: I'm using like how hard.
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  Speaker 3: Could it be other people have done bigger things? Yeah, exactly,
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  Speaker 3: they put the man on the moon. Surely I can
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  Speaker 3: teach you about money, or surely you can help periods
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  Speaker 3: like products, I guess.
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  Speaker 2: And I just didn't. I didn't even know when I
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  Speaker 2: was a kid what it was going to be that
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  Speaker 2: I would be doing the change stuff to do. Yeah,
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  Speaker 2: I had so much stuff to do.
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  Speaker 3: I was a busy girl. Leadership skills yeah, yeah, yeah,
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  Speaker 3: we're not bossy leadership.
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  Speaker 2: I love that.
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  Speaker 3: Yeah.
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  Speaker 2: It was in marketing advertising, and that was when I
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  Speaker 2: then saw another big issue that no one seemed to
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  Speaker 2: be addressing, which was just like this massive inefficiency with
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  Speaker 2: you know, advertising. I mean like it's just we are
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  Speaker 2: spending so much money on a specific platform that I'm
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  Speaker 2: sure everyone can sort of work out who that is,
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  Speaker 2: and it's just rising costs and the effectiveness is just
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  Speaker 2: going downhill.
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  Speaker 3: So them to come to podcasting, yeah ten out of ten.
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  Speaker 2: For me, Yeah, yeah exactly. So I was like this
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  Speaker 2: is crazy, Like, you know, your traditional digital at home
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  Speaker 2: gets like I don't know too to five seconds of attention.
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  Speaker 2: Like it's just it's you're paying so much money to
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  Speaker 2: even get a chance to be seen basically is what
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  Speaker 2: advertising is like these days. It's so oversaturated. So basically
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  Speaker 2: I combine those two things, you know, this understanding And
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  Speaker 2: it all happened from literally just thinking. I just sat
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  Speaker 2: there one day and I was like, you know, I
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  Speaker 2: want to do something. I want to change the world.
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  Speaker 2: What can I do? And so I was going through
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  Speaker 2: all these different business models and actually it was Zuckerberg
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  Speaker 2: that popped up, and I was said, well, if he
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  Speaker 2: can make Facebook free to the consumer by serving advertising
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  Speaker 2: on the platform, why can't I do it for something
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  Speaker 2: that actually matters, something's actually going to change the world.
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  Speaker 3: Oh well, when women do it, it's a problem, that's why.
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  Speaker 4: Yeah.
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  Speaker 2: Yeah, so that's exactly what what I did. And yeah,
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  Speaker 2: that was a long journey from idea to launch. But
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  Speaker 2: is it fun?
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  Speaker 3: Yeah?
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  Speaker 2: I love it.
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  Speaker 3: Now I'm a bit of a stats girl and I
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  Speaker 3: want to get into I guess the impact of period
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  Speaker 3: inequality in Australia. But before we do, I know that
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  Speaker 3: you personally prefer the term period inequality. Yes, yeah, over
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  Speaker 3: what has I guess been traditionally called period poverty, which
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  Speaker 3: I just that gives me the ick when I think
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  Speaker 3: about it. I'm like, that just makes it feel less.
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  Speaker 2: Than we refer to it as period inequity. Read No,
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  Speaker 2: that's totally fine. And you know I've always say period inequality,
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  Speaker 2: sometimes by accident. I'll explain why I changed the language here.
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  Speaker 2: I think it was from, you know, my first six
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  Speaker 2: months of being in business, and the more conversations I had,
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  Speaker 2: the more I said to notice that people were interpreting
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  Speaker 2: period poverty as only women under the poverty line or
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  Speaker 2: who were impoverished were the ones experiencing it. No, not true.
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  Speaker 2: Three and five women in Australia are using makeshift solutions
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  Speaker 2: for period products when they get caught out in emergencies.
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  Speaker 2: And you know how we just had it.
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  Speaker 3: I've done it.
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  Speaker 2: Same toilet paper, women use tissues, they use socks, napkins.
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  Speaker 3: I don't more comfortable actually think about it.
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  Speaker 2: I actually I thought that to I was like, I've
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  Speaker 2: never personally heard of a story of someone using a sock.
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  Speaker 2: And then I asked around a group at this event
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  Speaker 2: that I was at, and yeah, one of the girls
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  Speaker 2: was like, oh, yeah, I've done that. Like I was
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  Speaker 2: wearing shoes and I didn't have any there was no
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  Speaker 2: toll paper left, so it was my sock and I
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  Speaker 2: was like, that's actually genius. I wouldn't even thought about it.
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  Speaker 3: No, I wouldn't have even thought it that I'd beel like, so, yes,
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  Speaker 3: we're screwed essentially.
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  Speaker 2: Yeah, it's so three and five women are using makeshift
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  Speaker 2: solutions for period products, so you know, and that sounds crazy,
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  Speaker 2: but also it makes total sense if there's no perio
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  Speaker 2: products available in public places, So you know, the three
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  Speaker 2: and five numbers could be women that are just caught
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  Speaker 2: out in emergencies. You know, they are not having it
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  Speaker 2: at home. So it's much bigger than this. And so
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  Speaker 2: that's why I don't like using the term period poverty
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  Speaker 2: because people just go, oh, that's a problem for people
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  Speaker 2: who are.
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  Speaker 4: No, it's not.
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  Speaker 2: It's a problem for three and five women in Australia.
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  Speaker 2: So it makes it feel little and you know, like
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  Speaker 2: something that is kind of separate to them that they
• 10:53
  Speaker 2: don't have to think about, you know.
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  Speaker 3: So give me some stats because, as I said before,
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  Speaker 3: I'm stat scale in my team how big is period
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  Speaker 3: inequity in Australia and what does that actually mean for
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  Speaker 3: women's lives and therefore the broader community.
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  Speaker 2: So yeah, as I said, three and five women using
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  Speaker 2: makeshift solutions. Fifty seven percent have missed key life events
• 11:13
  Speaker 2: from the effect of period in equity, so things like
• 11:16
  Speaker 2: social events, work, school. We actually submitted a proposal with
• 11:21
  Speaker 2: the Australian government and we managed to work out that
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  Speaker 2: we think roughly two hundred and fifteen million dollars is
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  Speaker 2: lost in the economy annually just from women missing one
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  Speaker 2: day of work a year from not having any period products,
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  Speaker 2: which is so likely possible to miss one days undred
• 11:37
  Speaker 2: period pain anything, right, And.
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  Speaker 3: I've heard it from my own community that people are
• 11:42
  Speaker 3: using sick days because they can't they don't have any
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  Speaker 3: money left in their bank accounts, Like I can't go
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  Speaker 3: to the supermarket and get tampons or pads or whatever
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  Speaker 3: I need. You know what, I'm just going to call
• 11:50
  Speaker 3: in sick because it's just easier. I'll just stay at home,
• 11:53
  Speaker 3: deal with it. The women who don't have sick days,
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  Speaker 3: this is what's leading to the jetipeg And they're already
• 11:57
  Speaker 3: feeling like trash because they're in that situation and they're like, oh,
• 12:00
  Speaker 3: I feel like I'm just going to stay in bed
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  Speaker 3: like CDF And I get it.
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  Speaker 2: It's just not factored into the way that our society
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  Speaker 2: is structured at the moment, you know it was built
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  Speaker 2: around a male.
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  Speaker 3: Oh really, that's crazy, So Friday it really works? What
• 12:13
  Speaker 3: do you mean?
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  Speaker 2: So it's the effect is so widespread, and it's the
• 12:19
  Speaker 2: ripple effect. I mean, the inequity of women missing school
• 12:23
  Speaker 2: university were like, we are then below our male counterparts,
• 12:28
  Speaker 2: or I shouldn't say below, but we're left behind in
• 12:30
  Speaker 2: the dust because of something that we simply cannot control.
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  Speaker 2: Like how frustrating is that to think about, Like we
• 12:36
  Speaker 2: can't control that we have a period and we are
• 12:39
  Speaker 2: behind because I.
• 12:40
  Speaker 3: Would love to control my period. I think we've all
• 12:42
  Speaker 3: been in the situation that's you delay period by three
• 12:45
  Speaker 3: days holiday. I've worked out my dates, and this is
• 12:50
  Speaker 3: gonna stuck.
• 12:52
  Speaker 2: My fear is getting my period on my wedding night.
• 12:56
  Speaker 2: How doll how do I avoid that?
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  Speaker 3: I wish I knew. I just got lucky. Oh thank god,
• 13:01
  Speaker 3: I just got lucky in saying that I had such
• 13:04
  Speaker 3: a big wedding day that that wasn't even on the cards.
• 13:07
  Speaker 3: I was like, I'm going to bed bye. It's twenty
• 13:10
  Speaker 3: twenty six or whatever it is.
• 13:12
  Speaker 2: McDonald's.
• 13:13
  Speaker 3: Yeah, absolutely not, absolutely not. Now talk to me about
• 13:16
  Speaker 3: brands because you mentioned that, you know, you've been in
• 13:18
  Speaker 3: boardrooms and you're explaining it to men, and you're you know,
• 13:21
  Speaker 3: marrying this idea of period products and Zuckerberg and being like, okay, cool,
• 13:27
  Speaker 3: if he can sell advertising.
• 13:28
  Speaker 2: How hard could it be.
• 13:30
  Speaker 3: What has been the reception from brands. Has there been
• 13:32
  Speaker 3: a difference between the response from male led brands versus
• 13:36
  Speaker 3: women led brands.
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  Speaker 2: Male led brands are a less of a problem for
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  Speaker 2: us because our channel is only in women's bathrooms, so
• 13:47
  Speaker 2: naturally really get male brands. That's a problem. Where I
• 13:51
  Speaker 2: do kin't see a difference is when you know, the
• 13:53
  Speaker 2: marketing decision maker is a man, and I kind of
• 13:56
  Speaker 2: have to convince the social point first. You'll explain it
• 13:59
  Speaker 2: is a lot of my job is education, and that's
• 14:01
  Speaker 2: totally fine. It's always been like that that I'm totally
• 14:03
  Speaker 2: happy to do that. It does just you know, it's
• 14:05
  Speaker 2: a little bit harder to get through and explain why
• 14:07
  Speaker 2: this is such a problem. Yeah, But to be honest,
• 14:09
  Speaker 2: I don't try and lead with the feel good and
• 14:11
  Speaker 2: I know that sounds wild. I know we're doing such
• 14:12
  Speaker 2: an amazing thing. But the way that I need to
• 14:15
  Speaker 2: try to yeah, we've got to sellry. The feel good
• 14:18
  Speaker 2: only gets us so far. You know this is a
• 14:20
  Speaker 2: great thing or great, well, then we're a charity. No,
• 14:22
  Speaker 2: we're not a charity. Where we're not We're an advertising company.
• 14:25
  Speaker 2: We're for purpose. So I'm not about to sit there
• 14:28
  Speaker 2: and be like, you know, this is the problem that
• 14:29
  Speaker 2: we're solding for twenty minutes and explain you know, all
• 14:31
  Speaker 2: of the effects that it has. It's great, we're doing
• 14:33
  Speaker 2: an amazing thing. But also it's my responsibility as a
• 14:36
  Speaker 2: founder to build this amazing commercial business so that women
• 14:40
  Speaker 2: do get free period products for the rest of time.
• 14:42
  Speaker 3: Money. We I love this.
• 14:45
  Speaker 2: This is the way I say is we're hacking capitalism, right.
• 14:47
  Speaker 2: We're taking money that's already being spent six hundred and
• 14:50
  Speaker 2: sixty seven billion dollars a year in advertising, wild rerouting
• 14:54
  Speaker 2: a portion of it. Yeah, we only want on a channel,
• 14:57
  Speaker 2: not asking We don't even need all of it, actually,
• 14:59
  Speaker 2: not asking for a lot, rerouting some of it, putting
• 15:02
  Speaker 2: on our channel. It's already being spent. The thing is
• 15:05
  Speaker 2: brand's are already spending billions trying to get women's attention
• 15:09
  Speaker 2: and reach women. We're just giving them a better way
• 15:12
  Speaker 2: to do it. And we all read the packaging exactly.
• 15:14
  Speaker 3: The first I guess introduction that I ever had into
• 15:17
  Speaker 3: period products was reading the libra. Oh yeah, the fun facts.
• 15:20
  Speaker 3: Do you think that I'm not paying attention? Yeah, I
• 15:23
  Speaker 3: know how high error is, how big an elephants he is, exactly,
• 15:27
  Speaker 3: So sit down, we're paying intention Yeah.
• 15:29
  Speaker 2: Well, actually on this. So we actually changed the bottel
• 15:31
  Speaker 2: a bit from I think when you and I first
• 15:33
  Speaker 2: got in contact. Originally we were doing it on the packaging,
• 15:36
  Speaker 2: and then I realized that there was a much better
• 15:37
  Speaker 2: way to do it, and it was essentially to have
• 15:39
  Speaker 2: these big thirty two inch digital screens that sit on
• 15:42
  Speaker 2: the front of our wall mounted vending machines and they
• 15:44
  Speaker 2: played digital ads.
• 15:45
  Speaker 3: Yeah that's genius because and so it's a building and
• 15:47
  Speaker 3: everyone who doesn't even have their period.
• 15:48
  Speaker 2: Exactly, yeah, exactly. Yeah, so everyone's seeing who's in the bathroom,
• 15:52
  Speaker 2: which is helping us pay for the period products. Still,
• 15:54
  Speaker 2: so that's pretty cool. And so what happened was when
• 15:57
  Speaker 2: I first went into these conversations with brands, I was
• 16:00
  Speaker 2: having to leave with the feel good pop because I
• 16:02
  Speaker 2: didn't have the data to back it up yet yet
• 16:03
  Speaker 2: that it was working. Well, blimey, we've got some awesome
• 16:07
  Speaker 2: dal up now. It's just so cool and honestly, it
• 16:09
  Speaker 2: has exceeded my expectations in terms of advertising. So our
• 16:13
  Speaker 2: current rate is a sixty six percent increase in trust
• 16:16
  Speaker 2: for the brand post exposure, a fifty nine percent increase
• 16:20
  Speaker 2: in purchase intent, and a twenty two point brand favorability uplift,
• 16:25
  Speaker 2: and a seventy six second dwell time. So people stand
• 16:27
  Speaker 2: in front of the art for seventy six seconds, do
• 16:29
  Speaker 2: you know, like that is so long? Social media is
• 16:32
  Speaker 2: zero point two to zero point five seconds.
• 16:33
  Speaker 3: Yeah, I can't even convince people, even during the age
• 16:36
  Speaker 3: of COVID to wash their hands for twenty seconds. That
• 16:38
  Speaker 3: is big, seventy six seconds.
• 16:40
  Speaker 2: So that means like our advertise are just getting much
• 16:43
  Speaker 2: greater attention and much greater trust uplift or brand uplift
• 16:46
  Speaker 2: than any other channel. Like the channel is doing the
• 16:48
  Speaker 2: leg work. You can put a creative with your logo
• 16:50
  Speaker 2: on it and be like, yeah, there you go, and
• 16:51
  Speaker 2: the channel's doing the work. So that's how we're going
• 16:53
  Speaker 2: to make take over the world. We need to have
• 16:55
  Speaker 2: this commercial business and we need women also, you know,
• 16:58
  Speaker 2: choosing these brands over other brands so that we can
• 17:01
  Speaker 2: all be providing free period products. It's like this really
• 17:03
  Speaker 2: cool positive feat circle happens. Yeah, it's really cool.
• 17:06
  Speaker 3: All right, let's go to a really quick break, so
• 17:08
  Speaker 3: guys don't go anywhere. All right, we are back. You
• 17:15
  Speaker 3: mentioned something before which kind of just made my mind go,
• 17:18
  Speaker 3: oh my gosh, that happens.
• 17:19
  Speaker 2: To us too.
• 17:20
  Speaker 3: You said, we are not a charity. We are a
• 17:23
  Speaker 3: for profit business. And I, as she's on the money,
• 17:27
  Speaker 3: I run my business in that way as well, and
• 17:29
  Speaker 3: I sometimes get crucified for it. Because surely it's period products.
• 17:33
  Speaker 3: Surely that should be free. Like the work that you
• 17:35
  Speaker 3: do should be free, same with me. Surely, because it's
• 17:38
  Speaker 3: financial literacy, you shouldn't be making a profit off this.
• 17:41
  Speaker 3: Talk to me about why you with such conviction in
• 17:45
  Speaker 3: a way that I was like, yes, queen, like this
• 17:46
  Speaker 3: is so important. Why did you have so much conviction
• 17:49
  Speaker 3: about not being a charity?
• 17:50
  Speaker 2: Well, I think that's really messed up for starts, Like,
• 17:53
  Speaker 2: let's just.
• 17:53
  Speaker 3: Say I agree.
• 17:54
  Speaker 2: I'm not saying I think that the fact that they
• 17:56
  Speaker 2: know I know you do it. I'm saying it to
• 17:58
  Speaker 2: everyone who says that is you should be able to
• 18:00
  Speaker 2: make money for doing something good. Actually, the people who
• 18:02
  Speaker 2: are doing something money and people who were doing good
• 18:05
  Speaker 2: things should be making the most money. Like That's it
• 18:09
  Speaker 2: was a very intentional decision I made when I first
• 18:12
  Speaker 2: started on the house. So I was at a crossroads
• 18:14
  Speaker 2: when I was first registering the company and all these
• 18:16
  Speaker 2: sorts of things, whether to go down the nonprofit path
• 18:18
  Speaker 2: or whether to go down the company.
• 18:20
  Speaker 3: You know, like just the standard company strategically.
• 18:24
  Speaker 2: So I was getting advice from a few people you
• 18:27
  Speaker 2: know around me about what was the best sort of
• 18:29
  Speaker 2: way to go around that. The way that I chose
• 18:31
  Speaker 2: to do it in the end was going as a
• 18:34
  Speaker 2: non for profit really easy at the start, really hard later. Yeah, absolutely,
• 18:40
  Speaker 2: company really hard at the start, really easy later. And
• 18:43
  Speaker 2: so I chose that I chose, let's go through the
• 18:45
  Speaker 2: slog first and do all the really hard stuff and
• 18:47
  Speaker 2: then it's going to be really easy later. But also
• 18:50
  Speaker 2: do good things, make a lot of money, get rich,
• 18:53
  Speaker 2: have a lot of fun, Like you what's wrong with
• 18:56
  Speaker 2: having at all?
• 18:57
  Speaker 3: That's you're talking dirty to me. We always saying our team,
• 19:01
  Speaker 3: good things happen to good people. Yeah, And like if
• 19:03
  Speaker 3: we are doing good and we are being good, good
• 19:04
  Speaker 3: things are going to happen. Totally. And is that not
• 19:07
  Speaker 3: the person that you want to be in the better
• 19:09
  Speaker 3: position than somebody who you know, just starts another cosmetic
• 19:11
  Speaker 3: brand and absolutely slays it. Love that for them, but
• 19:15
  Speaker 3: they're not getting the same questions about profitability. They're not
• 19:18
  Speaker 3: getting the same questions about oh, well you're giving women confidence,
• 19:21
  Speaker 3: you should you know, not be charging for that.
• 19:23
  Speaker 2: Absolutely, sorry.
• 19:24
  Speaker 3: I'm making money from the people paying us, not from
• 19:26
  Speaker 3: the people who benefit.
• 19:27
  Speaker 2: Yeah, exactly, you guys win, yes, yes, yes, yes, everyone's winning.
• 19:31
  Speaker 2: That's the best part. It's like a win win Well,
• 19:33
  Speaker 2: actually I say it's a win win win, like our
• 19:35
  Speaker 2: venues win, our brands win, and our women win. Everyone
• 19:37
  Speaker 2: wins and I win. It's great too, the whole love
• 19:40
  Speaker 2: everyone gets, you know, everyone benefits from it. So it's yeah,
• 19:44
  Speaker 2: and I agree. Look, the key reason that I chose
• 19:46
  Speaker 2: to be a profit business at the start, aside from
• 19:48
  Speaker 2: all of this, yes, you know, I want to make
• 19:50
  Speaker 2: money and I want my team to make money and
• 19:52
  Speaker 2: you know, be a publicly listed company eventually when we're
• 19:55
  Speaker 2: doing such amazing work. So the reason I chose it
• 19:58
  Speaker 2: is because my business is so capital heavy, right, So
• 20:02
  Speaker 2: like one of our adding machines is quite expensive to
• 20:05
  Speaker 2: roll out. I was never going to be able to
• 20:07
  Speaker 2: get enough government funding right at the beginning with no
• 20:09
  Speaker 2: data to be able to go out.
• 20:10
  Speaker 3: And then the consistency of not for profit having to
• 20:13
  Speaker 3: consistently get.
• 20:14
  Speaker 2: Money from the government too. Also, let's actually think about
• 20:17
  Speaker 2: this government money then also means women would still actually
• 20:21
  Speaker 2: still they would still be paying for the period products
• 20:23
  Speaker 2: because it's all tax payers money. So I wouldn't really
• 20:26
  Speaker 2: be making free for women.
• 20:27
  Speaker 4: No.
• 20:28
  Speaker 3: No, you'd just be taking a slice of the tax
• 20:30
  Speaker 3: PI and that's really hard to maintain. Like you are
• 20:32
  Speaker 3: consistently fighting and fighting to keep your slight.
• 20:36
  Speaker 2: Can I just make money, prove that the business is
• 20:39
  Speaker 2: going really well, get money from investors, and just keep
• 20:41
  Speaker 2: doing that?
• 20:41
  Speaker 3: Sexy?
• 20:42
  Speaker 1: I love it.
• 20:42
  Speaker 3: Talk to me about funding though. You've been really open
• 20:45
  Speaker 3: about your first funding pitch completely falling flat and being
• 20:49
  Speaker 3: told that you need to go home and work on it.
• 20:52
  Speaker 3: I have a few questions about that. Firstly, how did
• 20:55
  Speaker 3: that feedback feel, because I think I would have gone
• 20:57
  Speaker 3: home and cried under the table for a while, especially
• 21:00
  Speaker 3: when to me your idea feels like a no brainer.
• 21:03
  Speaker 4: Yeah.
• 21:04
  Speaker 2: Look, I'm quite resilient to bad feedback. These days, He's like, table,
• 21:09
  Speaker 2: I still do. Look, I still cry, of course sometimes,
• 21:12
  Speaker 2: but like I think I kind of have to have
• 21:15
  Speaker 2: a bit of a hard shell put on when I
• 21:16
  Speaker 2: am in work mode, and I don't get upset over
• 21:19
  Speaker 2: things that I would in my personal life, If that
• 21:21
  Speaker 2: makes sense. I'm kind of like maybe it's a split personality.
• 21:23
  Speaker 4: I'm not sure, but.
• 21:25
  Speaker 2: Yeah, it was definitely like rough, especially because it was
• 21:27
  Speaker 2: like the first time I was kind of putting out
• 21:29
  Speaker 2: my idea. Yeah, although before that had happened, I'd received
• 21:32
  Speaker 2: some like really great advice across the board of just
• 21:35
  Speaker 2: like you know, you are always going to get no's,
• 21:38
  Speaker 2: like and just kind of see that as you're one
• 21:40
  Speaker 2: no closer to it. Yes, like that is the only
• 21:42
  Speaker 2: way you could live your life. So yeah, it did
• 21:45
  Speaker 2: hurt definitely because it's my first time doing it, and
• 21:48
  Speaker 2: so I was like really vulnerable and I was really
• 21:50
  Speaker 2: trying to do my pitch and he was like, you
• 21:51
  Speaker 2: need to work on a pitch, and I was like, oh, okay, rude.
• 21:54
  Speaker 2: It was rude, but also let's let's retrospect that and
• 21:58
  Speaker 2: like if that hadn't have happened, would I have gone
• 22:01
  Speaker 2: and like worked as hard as I worked, so yeah,
• 22:04
  Speaker 2: and that was only very early days as well. Like
• 22:06
  Speaker 2: I will say, like there was no way I was
• 22:07
  Speaker 2: going to be able to raise money probably at that
• 22:09
  Speaker 2: point I hadn't even had a profit. But then we did,
• 22:11
  Speaker 2: so sit down, so I did. But same again, like
• 22:14
  Speaker 2: I did this next raised period that we've just closed
• 22:17
  Speaker 2: in January, and that was again like thirty five no's,
• 22:20
  Speaker 2: Like that's it's very normal. Actually I had do you know,
• 22:23
  Speaker 2: you know Blackbird the investments. Yeah, so I had a
• 22:25
  Speaker 2: coffee with Nick Krocker, like the day after I did
• 22:28
  Speaker 2: my demo day pitch at start Mate, and like we
• 22:30
  Speaker 2: just got on like a house on fire, and he
• 22:32
  Speaker 2: said that He's like, Remmy, you're going to get the
• 22:34
  Speaker 2: average ratio is forty no's to one yes, and that
• 22:37
  Speaker 2: is how many times you have to be rejected. He's
• 22:39
  Speaker 2: like he looked me dead in the eye and he
• 22:40
  Speaker 2: was like, you're going to feel like your business is
• 22:43
  Speaker 2: a stupid idea and that you're not going to make it.
• 22:45
  Speaker 2: Like that is genuinely the thought process that you're going
• 22:47
  Speaker 2: to get into. Do not believe that, like just keep going,
• 22:50
  Speaker 2: And that was exactly what happened. Like I got to
• 22:52
  Speaker 2: I reckon. It was probably thirty thirty no's or something,
• 22:55
  Speaker 2: and I was like, have I built a really bad
• 22:57
  Speaker 2: business like you do? It may have started to question yourself.
• 23:01
  Speaker 2: You do, it's natural human instinct.
• 23:04
  Speaker 3: Business Like I don't even do that. I just have
• 23:07
  Speaker 3: the Internet and I'm like, oh my god, they're right.
• 23:09
  Speaker 2: This is so dumb. Yeah.
• 23:11
  Speaker 3: Yeah, the loudest voices are not always the most right.
• 23:16
  Speaker 2: And every good story you hear about you know amazing
• 23:19
  Speaker 2: business people, they've all gone through the exact same thing,
• 23:22
  Speaker 2: like being told that their business is a stupid idea
• 23:25
  Speaker 2: and it's never going to work. Over again, you kind
• 23:27
  Speaker 2: of have to go to hum empire exactly. So yeah,
• 23:32
  Speaker 2: so it was quite a cool journey, Like I did,
• 23:35
  Speaker 2: I got through those thirty five no's, and then all
• 23:37
  Speaker 2: of a sudden, it was like ten people were like, yeah,
• 23:40
  Speaker 2: we want to get in. So then I could actually
• 23:42
  Speaker 2: decide who I wanted my investors to be, which was
• 23:44
  Speaker 2: really cool, a great position to be in. But yeah,
• 23:46
  Speaker 2: one of the hardest things I've ever done. Like, the
• 23:48
  Speaker 2: business has been a serious journey, but that raising money
• 23:51
  Speaker 2: for the first time hard.
• 23:54
  Speaker 3: Now tell me what you did differently, because I have
• 23:56
  Speaker 3: seen a pitch that you did after that, and I
• 23:58
  Speaker 3: would say it was really impact and really compelling, and
• 24:02
  Speaker 3: it's so obvious that you put so much time and
• 24:04
  Speaker 3: energy and effort into slaying mash. Yeah, by the way,
• 24:08
  Speaker 3: you bounced back in a way that I think I
• 24:10
  Speaker 3: would have still been under the table. But what did
• 24:13
  Speaker 3: you work on? Like, what did you change? When someone says, oh,
• 24:16
  Speaker 3: you need to work on your pitch, like, I feel
• 24:17
  Speaker 3: like that's that's rude. Give me a specific thing that
• 24:23
  Speaker 3: I hate feedback that's not specific, Like I never go
• 24:26
  Speaker 3: I didn't like it. Thanks, move on, Tell me what
• 24:29
  Speaker 3: is that? You've got to be specific? Otherwise I think
• 24:31
  Speaker 3: it's everything. And then you know what, I think it's
• 24:34
  Speaker 3: me personally.
• 24:34
  Speaker 2: It must just be me. Maybe it was so it
• 24:36
  Speaker 2: didn't get along.
• 24:37
  Speaker 3: What did What did you work on that kind of
• 24:41
  Speaker 3: led you to now being in a position where you've
• 24:43
  Speaker 3: secured funding.
• 24:44
  Speaker 2: Well, first of all, I think what was really helpful
• 24:46
  Speaker 2: for me. I hadn't come from like a startup ecosystem,
• 24:50
  Speaker 2: Like I didn't have found a friends. I wasn't in
• 24:52
  Speaker 2: that sort of space right, and so I actually ended
• 24:54
  Speaker 2: up accidentally getting into start mate. To be honest, like
• 24:57
  Speaker 2: I didn't know what start Mate was. It's for anyone
• 24:59
  Speaker 2: who doesn't know what that is, that's listening. It's a
• 25:01
  Speaker 2: big startup accelerator that you know, you go into and
• 25:04
  Speaker 2: you have sixteen weeks. You set all these goals and
• 25:06
  Speaker 2: you've got to meet all these goals and then you
• 25:07
  Speaker 2: pitch to two thousand people at the end, and like
• 25:10
  Speaker 2: that would immediately well lucky. I didn't know that that
• 25:13
  Speaker 2: was going to happen until the first day and they're like, oh, yeah, data,
• 25:17
  Speaker 2: And I was like what because I don't really like
• 25:19
  Speaker 2: public speaking.
• 25:20
  Speaker 3: But anyway, I love that people like us go we
• 25:24
  Speaker 3: don't like public speaking. I'd never make a face to
• 25:26
  Speaker 3: camera videos and like, now we're on this podcast and
• 25:30
  Speaker 3: you and I beforehand, like so we'll do this tiktoks.
• 25:32
  Speaker 2: Yeah, going out to eighty thousand, it's like it's different
• 25:36
  Speaker 2: when you can see them.
• 25:37
  Speaker 3: You also have got to do what you've got to
• 25:39
  Speaker 3: do for your mission, yes, but you just got to
• 25:41
  Speaker 3: stand up and I guess two thousand people.
• 25:44
  Speaker 1: Yeah.
• 25:45
  Speaker 2: But I think the start May program is really good
• 25:47
  Speaker 2: in helping me really understand my business. Like you know,
• 25:51
  Speaker 2: I think it's like defining your ICP, the pain points
• 25:54
  Speaker 2: like really really going so deep on who your customer
• 25:57
  Speaker 2: is on both sides, pulling out all the data, constructing
• 26:00
  Speaker 2: your narrative, like building an investment thesis. All those sorts
• 26:03
  Speaker 2: of things helped contribute to, you know, being able to
• 26:06
  Speaker 2: pitch well and like, naturally, I've always been a Actually
• 26:10
  Speaker 2: I hate public speaking, but I've always been a public speaker.
• 26:13
  Speaker 2: I say, I hate it, but debating, yeah, I can
• 26:16
  Speaker 2: see that. Yeah I couldn't. I don't think I could
• 26:20
  Speaker 2: do debating.
• 26:20
  Speaker 3: I'd be like, oh see, I only ever wanted to
• 26:23
  Speaker 3: do debating if I was the third speaker who doesn't
• 26:25
  Speaker 3: have to prepare a speech and just like robuts everybody's
• 26:28
  Speaker 3: conversation like, yeah, I'm not going to prepare it, but
• 26:30
  Speaker 3: I'll talk about my mission.
• 26:31
  Speaker 4: I love it.
• 26:32
  Speaker 2: That's great. Start Mate was very integral in helping me
• 26:36
  Speaker 2: understand my business and build my pitch and those sorts
• 26:38
  Speaker 2: of things. But also it was just like personal growth
• 26:40
  Speaker 2: and understanding. You know, once you work on a business
• 26:43
  Speaker 2: for two years, you know it like the back of
• 26:45
  Speaker 2: your hand. It becomes so easy to talk about. Actually,
• 26:47
  Speaker 2: it's so funny because I ended up hiring the head
• 26:50
  Speaker 2: of founders from start Mate as my COO. She came
• 26:53
  Speaker 2: with met Mate, which was amazing, but she helped me
• 26:56
  Speaker 2: practice the speech so many times, and she often like, oh, well,
• 27:00
  Speaker 2: be on a sales call or something together, she'll like
• 27:02
  Speaker 2: recite back the lines from my demo day speech.
• 27:04
  Speaker 3: Do you do you find yourself doing that as well,
• 27:06
  Speaker 3: because like I do a lot of like keynote speeches
• 27:09
  Speaker 3: and stuff, and like sometimes I like fall into saying
• 27:13
  Speaker 3: something I've said before and I just know word for
• 27:16
  Speaker 3: word I have said this paragraph.
• 27:17
  Speaker 2: I've got like the same inflections.
• 27:19
  Speaker 3: Yes, and I go, I hate myself And also did
• 27:24
  Speaker 3: anyone else read that? Yeah? I'm so glad that like
• 27:27
  Speaker 3: my keynotes don't get filmed and put on the internet,
• 27:29
  Speaker 3: because you'd just be able to like morph them.
• 27:31
  Speaker 2: Over each other.
• 27:31
  Speaker 3: Be it's just a collection of different things I've said. Yeah,
• 27:34
  Speaker 3: that really hit the mark. I'm going to use that again.
• 27:37
  Speaker 3: It's quite handy though, is totally when you can't think
• 27:41
  Speaker 3: of what to say, you're like it's like remembering the
• 27:43
  Speaker 3: words to a song.
• 27:44
  Speaker 2: Yes, Oh my gosh, that's like the easiest thing to
• 27:47
  Speaker 2: remember exactly.
• 27:49
  Speaker 3: Yes, I've seen your pitch.
• 27:50
  Speaker 2: Yes it yeah, yeah, so like it was that was
• 27:54
  Speaker 2: how I sort of improved, I guess, And there wasn't
• 27:58
  Speaker 2: really any rhyme or reason to it. It was just
• 28:00
  Speaker 2: having being in it for so long and pushing myself
• 28:02
  Speaker 2: so long and launching an MVP and you know, iterating
• 28:05
  Speaker 2: and just doing all of the things that made me
• 28:08
  Speaker 2: better at pitching, like and just having a lot more
• 28:10
  Speaker 2: guts as well. Like I made my life motto sickening
• 28:13
  Speaker 2: audacity last year. By yeah, so that is like I
• 28:18
  Speaker 2: need a life murder. It's can we work on that
• 28:20
  Speaker 2: every year? Set one? It's so much fun, I said a.
• 28:24
  Speaker 3: Word of the year.
• 28:24
  Speaker 2: I love that it's a motto growth. So the serious growth,
• 28:28
  Speaker 2: well you could do like a motto that goes with growth.
• 28:30
  Speaker 2: That's something that like fires you up.
• 28:32
  Speaker 3: I want the fiery.
• 28:34
  Speaker 2: Growth.
• 28:35
  Speaker 3: And like I feel like it's real stereotypical, but like
• 28:38
  Speaker 3: I have this whole like I'm a psychopath. By the way,
• 28:41
  Speaker 3: come into my house and you'll be like, is she
• 28:42
  Speaker 3: plotting like a murder? Like I've got post it notes
• 28:44
  Speaker 3: all over the walls. I'd like a drawn like arrows
• 28:47
  Speaker 3: to each of them. You'd be like, is she like
• 28:49
  Speaker 3: stalking someone? No, it's me, I'm stalking me. It's really cool,
• 28:52
  Speaker 3: and I just I was like all of these I
• 28:55
  Speaker 3: kept trying to come up with like a really like
• 28:57
  Speaker 3: fun word. I wanted it to be like evolve something,
• 29:00
  Speaker 3: but I just kept coming back to growth, and I'm
• 29:02
  Speaker 3: like it needs to be basic and.
• 29:05
  Speaker 2: Different silos of your life like where yes, yes, okay.
• 29:08
  Speaker 3: So like lame things like complete side note, this show
• 29:11
  Speaker 3: is about you, but my family, like being a better mom,
• 29:16
  Speaker 3: you know, not being a better mom, but being the
• 29:18
  Speaker 3: mum that.
• 29:18
  Speaker 4: I want to be.
• 29:19
  Speaker 2: Okay, you're a great mom, thank you.
• 29:21
  Speaker 3: But you know when you're like, there are just things
• 29:23
  Speaker 3: that I want to like do I want to be
• 29:25
  Speaker 3: that mum that people look back and go, oh my god.
• 29:28
  Speaker 3: Like she was so over the top, like when it
• 29:30
  Speaker 3: came to like Easter and like celebrating Valentine's Day with
• 29:33
  Speaker 3: your kids and all of those like little things that
• 29:35
  Speaker 3: become the big things. And then business like I am
• 29:38
  Speaker 3: so bad at social media at the moment, Like I'm
• 29:41
  Speaker 3: not showing up in the way that I want to.
• 29:42
  Speaker 3: But it's all about growth, right, And like I'm such
• 29:44
  Speaker 3: a stat scal that for me, it's not about oh,
• 29:48
  Speaker 3: make a few extra tiktoks. It's like all right, well,
• 29:51
  Speaker 3: one of my goals from you know the start of
• 29:53
  Speaker 3: April is actually show up every single day on TikTok
• 29:56
  Speaker 3: and you know, have certain amounts of growth because I
• 29:59
  Speaker 3: can track it. I love a tractable goal. But back
• 30:02
  Speaker 3: to you, I run this beautiful she's on the money
• 30:06
  Speaker 3: community and we again stat scal twenty percent of my
• 30:10
  Speaker 3: community a small business owners, which is insane. Go girls
• 30:14
  Speaker 3: I know and even more identify as having a side hustle.
• 30:19
  Speaker 3: So how from someone in our community who's maybe sitting
• 30:22
  Speaker 3: on an idea or like thinking about funding that is
• 30:26
  Speaker 3: really scary? And like I work with small business owners
• 30:29
  Speaker 3: all the time on they're funding pictures, but I've never
• 30:31
  Speaker 3: done it myself. So as someone who has done it themselves,
• 30:35
  Speaker 3: how are we approaching funding?
• 30:36
  Speaker 2: I'll start by saying, it's never not going to be scary.
• 30:39
  Speaker 2: You just have to push through the fear. And like
• 30:41
  Speaker 2: it's like that's part of my sickening audacity modoists. It's like,
• 30:46
  Speaker 2: if it's not making you feel sick, you're not pushing
• 30:48
  Speaker 2: yourself hard enough. Like it needs to kind of be
• 30:50
  Speaker 2: so uncomfortable that you know that you're growing from it.
• 30:54
  Speaker 2: So it all comes back to funding is an interesting one.
• 30:59
  Speaker 2: Australia is an incredibly hard place to get funding. There's
• 31:04
  Speaker 2: twelve I think it's twelve lead investors that can lead
• 31:07
  Speaker 2: an investment round. And if you can't get those twelve
• 31:10
  Speaker 2: And this is not mean to scaye, it's just to
• 31:11
  Speaker 2: set the context of like, you know, how you have
• 31:13
  Speaker 2: to look at it. If you burn through those twelve
• 31:15
  Speaker 2: and they all say no, you have to go overseas
• 31:17
  Speaker 2: to the US or alike. The US can be really
• 31:20
  Speaker 2: good for funding because you actually can get a lot
• 31:22
  Speaker 2: more money pre seed and seed money. They'll give you
• 31:24
  Speaker 2: a lot more money and they also they're not so conservative.
• 31:28
  Speaker 2: So something I really struggle with with on the House
• 31:30
  Speaker 2: is because our revenue is advertising dollars, A lot of
• 31:34
  Speaker 2: investors don't like that because it's not a SaaS, it's
• 31:37
  Speaker 2: not a subscription everyone paid. I am that sick of subscriptions.
• 31:40
  Speaker 2: It's not even a joke like if someone I did.
• 31:43
  Speaker 3: Just finish a book called subscribed, Yeah, because I wanted
• 31:46
  Speaker 3: to understand more about subscription models than how work. So interesting,
• 31:51
  Speaker 3: but I think you and I are probably in the
• 31:52
  Speaker 3: same bucket what our quote product is. I don't want
• 31:56
  Speaker 3: to be a subscription it can't be. It doesn't make sense.
• 31:59
  Speaker 2: Yeah, so stop it. Some of them they don't, that's
• 32:02
  Speaker 2: the thing. And it's like investors, particularly vcs, right, venture capital,
• 32:06
  Speaker 2: what they want to do is ten x money. That's like,
• 32:08
  Speaker 2: that's the whole goal.
• 32:09
  Speaker 3: Absolutely, They're here to make money and they need to
• 32:11
  Speaker 3: be able to receive that opportunity.
• 32:13
  Speaker 2: Yeah, they've got bigger investors that put money in there,
• 32:15
  Speaker 2: like that is their job, right, So you have to
• 32:17
  Speaker 2: understand that. Don't ever be offended if they say no
• 32:20
  Speaker 2: to you, because it's just not aligned to their investment thesis.
• 32:23
  Speaker 2: They have particular things that they need to fill. I
• 32:25
  Speaker 2: would say as a start particularly as a small business
• 32:28
  Speaker 2: or you know someone that's wanting to start their own startup,
• 32:31
  Speaker 2: I would say angel investing route is a really good
• 32:33
  Speaker 2: one to go for, like to start with for your
• 32:35
  Speaker 2: preceed go and get you know, one hundred and twenty k,
• 32:38
  Speaker 2: two hundred k. Start there. You need to prove out
• 32:41
  Speaker 2: that you can make money on that money. That's the
• 32:43
  Speaker 2: whole goal. Have all the amazing stats, show how you
• 32:46
  Speaker 2: can scale, show how your business can make three billion dollars. Well,
• 32:50
  Speaker 2: okay for a small business, maybe.
• 32:52
  Speaker 3: You're going to make three billion dollars. I'm the angel
• 32:54
  Speaker 3: investor needs to just sitting there for you doing a chat.
• 33:01
  Speaker 2: I would go angel route first. It's very easy. You
• 33:03
  Speaker 2: don't have to do like, you know, the board meeting
• 33:05
  Speaker 2: whole thing, like it does suck up a bit of
• 33:07
  Speaker 2: your time having vcs once you go down the private
• 33:10
  Speaker 2: equity route because obviously you have to be reporting everything,
• 33:14
  Speaker 2: and yeah, it's a whole it's a whole thing. But
• 33:15
  Speaker 2: I would just say essentially what I learned of how
• 33:18
  Speaker 2: to actually go and get investors. If you are wanting
• 33:20
  Speaker 2: to go to the VC route, Investors are less likely
• 33:23
  Speaker 2: to take a meeting unless you're introduced through another founder
• 33:26
  Speaker 2: or through someone that's known to the VC company. So
• 33:28
  Speaker 2: your first protocourt is to do warm introductions. So you
• 33:31
  Speaker 2: go and get warm intros, but network your butt off.
• 33:34
  Speaker 2: Literally that's how I did it, got all the introductions
• 33:37
  Speaker 2: to all of the investors. Then you want to set
• 33:40
  Speaker 2: a two week period and book all of your first
• 33:43
  Speaker 2: round meetings back to back for those first two weeks.
• 33:46
  Speaker 2: Now you might say, oh, that's crazy, remy, why would
• 33:48
  Speaker 2: you want to put investment meetings back to back momentum,
• 33:51
  Speaker 2: So basically, once you get.
• 33:53
  Speaker 3: Into you're making me want to do funding. Ye and
• 33:55
  Speaker 3: I don't even do funding.
• 33:56
  Speaker 2: It's it's yeah, it's wild, it's well, it's fun hair chaos. Yeah.
• 34:03
  Speaker 2: So you want to like get the momentum. They can
• 34:06
  Speaker 2: hear it in your voice when you've been speaking to
• 34:08
  Speaker 2: other investors, like you can't, no, you can't. You cannot
• 34:12
  Speaker 2: fake that. You're so busy that you're talking to heaps
• 34:14
  Speaker 2: of investors.
• 34:15
  Speaker 3: You can.
• 34:15
  Speaker 2: They can feel it on the call, and investors want
• 34:18
  Speaker 2: they get in petition. Yeah, phomo. So you want to
• 34:21
  Speaker 2: like kind of bounce them off each other. Yep, sorry,
• 34:23
  Speaker 2: gotta go an meeting with with you know, blackbird whatever? Ye?
• 34:28
  Speaker 3: Sorry, but yeah, and they're like, how she secure that?
• 34:31
  Speaker 4: Yeah?
• 34:32
  Speaker 2: Because if you seem like you're not hard to get,
• 34:34
  Speaker 2: it's like dating, this is exactly what it is. Get
• 34:36
  Speaker 2: all your dates up, like no, no, no, but dates
• 34:40
  Speaker 2: in a week?
• 34:41
  Speaker 3: Do you know what? That's a way to find a husband.
• 34:44
  Speaker 3: Like if you're like I need a husband and I
• 34:45
  Speaker 3: need to understand having one day a week.
• 34:49
  Speaker 2: If you've got a mission, you're like, I'm gonna going
• 34:52
  Speaker 2: to rock on my finger in six months, you could
• 34:54
  Speaker 2: do it, girl, We could do you know, what we
• 34:55
  Speaker 2: could write a blog about how raising capital is basically
• 34:59
  Speaker 2: like dating.
• 35:00
  Speaker 1: Let's do it.
• 35:00
  Speaker 2: Let's do an episode together on that.
• 35:01
  Speaker 3: Absolutely all the tips and tricks.
• 35:04
  Speaker 2: Yeah, so yeah, block them all into two weeks back
• 35:07
  Speaker 2: to back, really get the fire going, and then you're
• 35:10
  Speaker 2: probably going to have one to three meetings with the
• 35:12
  Speaker 2: same investor before you end up having to do what's
• 35:15
  Speaker 2: called an ICY, which is the investment committees. Then you
• 35:17
  Speaker 2: go and sit on the investment committee and that is
• 35:19
  Speaker 2: like you got a big round table. You can go
• 35:20
  Speaker 2: in person or still be virtual, and you pitch to
• 35:23
  Speaker 2: the entire investment committee and that's when you've got to
• 35:26
  Speaker 2: reprove yourself again. Then they go away. They always set
• 35:29
  Speaker 2: thirty minutes aside after that meeting to discuss internally. They
• 35:32
  Speaker 2: usually am to come back with back to you as
• 35:34
  Speaker 2: soon as possible, like they're not assholes at the end
• 35:36
  Speaker 2: of the day, like they actually they care that they
• 35:38
  Speaker 2: want you to keep going and be able to raise money.
• 35:40
  Speaker 2: So you know pretty much within twenty four hours if
• 35:43
  Speaker 2: you got it or you didn't, So do a two
• 35:45
  Speaker 2: week block first meetings, two week block, second meetings, two
• 35:48
  Speaker 2: week block third meetings ICY, and then hopefully from all
• 35:51
  Speaker 2: of those meetings, you get, you know, a term sheet,
• 35:55
  Speaker 2: at least one term sheet. And I would say, as
• 35:57
  Speaker 2: Nick Crocker told me forty to one ratio, you're gonna
• 35:59
  Speaker 2: have toty meetings to you at one term.
• 36:01
  Speaker 3: But get used to it, get used to it, Get
• 36:03
  Speaker 3: used to those and don't get personal about it.
• 36:05
  Speaker 2: I feel like you wasting time. Use it as fire.
• 36:08
  Speaker 2: Like That's what started to happen to me towards them.
• 36:10
  Speaker 2: I was like, okay, no, I was like, yep, one
• 36:12
  Speaker 2: one more, just got to go still and that was
• 36:14
  Speaker 2: really good. Like imagine it is actually forty think about
• 36:17
  Speaker 2: it like forty. So you're just crossing off one after
• 36:19
  Speaker 2: the other. N I mean that doesn't mean you shouldn't
• 36:21
  Speaker 2: do well on the first ones.
• 36:23
  Speaker 3: But we're doing well. But like, I think it contextualizes
• 36:27
  Speaker 3: it a little bit. It's one of those things where
• 36:29
  Speaker 3: you don't know what you don't know, and if someone
• 36:32
  Speaker 3: says no, it makes you feel like your idea is terrible.
• 36:36
  Speaker 3: You might just opt out when the next person is
• 36:38
  Speaker 3: going to go, oh my god, remy, that is life changing,
• 36:41
  Speaker 3: and you go, I know, I've been trying to find
• 36:43
  Speaker 3: someone that resonates.
• 36:44
  Speaker 2: Yeah, exactly. And also you learn in every meeting that
• 36:47
  Speaker 2: you do right. So, like you're in these investment meetings,
• 36:50
  Speaker 2: they ask you questions, You're like, oh, I don't know
• 36:51
  Speaker 2: the answer to that. I going to have to learn
• 36:53
  Speaker 2: it means you go and you learn it the hour
• 36:55
  Speaker 2: after you have that meeting to take to your next meeting,
• 36:57
  Speaker 2: and so by the time you get to your forty
• 36:58
  Speaker 2: is one. That's probably why they're saying, yes, you're really
• 37:00
  Speaker 2: good at it. Yeah by the end. Yeah, absolutely, so.
• 37:05
  Speaker 3: I want to know. And I'm being really pervy here.
• 37:07
  Speaker 3: So I'm a little bit conservative when it comes to
• 37:10
  Speaker 3: raising capital. Yeah.
• 37:11
  Speaker 2: Sure.
• 37:11
  Speaker 3: And one of the reasons I'm conservative about that is
• 37:14
  Speaker 3: I hate losing control of a business and I giving
• 37:18
  Speaker 3: up too much equity in exchange for potential. I'm like, oh,
• 37:22
  Speaker 3: because people obviously are going to expect and I don't
• 37:25
  Speaker 3: know if everybody knows this, but when you raise money,
• 37:27
  Speaker 3: they expect you to give them part of your business
• 37:30
  Speaker 3: because nobody raises money to give it to remy to
• 37:33
  Speaker 3: be like fum babe enjoy Like. They're expecting a return
• 37:37
  Speaker 3: on their investment, and that usually comes in the form
• 37:39
  Speaker 3: of having equity and whether they are waiting for a
• 37:42
  Speaker 3: certain equity exit point. They go, I want to make
• 37:44
  Speaker 3: ten percent on this and then I'll give you your
• 37:46
  Speaker 3: your equity back, or they want to remain a long
• 37:49
  Speaker 3: term investor. That scares me because I don't want business partners. No, no, no,
• 37:54
  Speaker 3: I'm just terrible at business partners. In fact, my accountant
• 37:57
  Speaker 3: has said, Victoria Devine, if you come to me and
• 37:59
  Speaker 3: ask for one more business partner, is that I'm just
• 38:01
  Speaker 3: not setting it up. I'm just not doing it. And
• 38:04
  Speaker 3: I was like, do you know what fair? Because I'm
• 38:06
  Speaker 3: terrible at picking, but why did you go down the
• 38:10
  Speaker 3: route of raising capital instead of going to a bank
• 38:13
  Speaker 3: and saying, hey, I've got this great business, give me
• 38:16
  Speaker 3: a big loan strategy.
• 38:19
  Speaker 2: So you want it's all about the investors that you pick.
• 38:22
  Speaker 2: I'm not There's certain people I wouldn't go to and
• 38:25
  Speaker 2: say give me money, and I'm a part of my
• 38:26
  Speaker 2: business like you. You want those people to be aligned
• 38:30
  Speaker 2: exactly and they should also have strategic benefit to your business.
• 38:35
  Speaker 2: So by way of either I don't know your next
• 38:37
  Speaker 2: capital around, let's say your Series eight, they have they
• 38:40
  Speaker 2: know every investor in Australia. You then need their help
• 38:43
  Speaker 2: to be able to raise a hundred million dollars when
• 38:45
  Speaker 2: you do your next raise. So that's that's the first part.
• 38:49
  Speaker 2: And that's probably like surface level, but then strategic in
• 38:52
  Speaker 2: terms of what can they provide you at this time
• 38:54
  Speaker 2: that you can't afford any other way. So like for me,
• 38:57
  Speaker 2: my investors are really helpful with my financial you know,
• 39:00
  Speaker 2: commercial proposals like things that I would have to pay
• 39:03
  Speaker 2: a lot of money for to have someone else do.
• 39:06
  Speaker 2: Super handy. Also, my investors have owned and sold businesses,
• 39:11
  Speaker 2: so they know how it all works. It's it's almost like.
• 39:14
  Speaker 3: You bring in your network, yes, and you just get
• 39:16
  Speaker 3: I'm not saying it's bad, I'm just asking the question
• 39:19
  Speaker 3: that goes, well, why did you go down that route?
• 39:21
  Speaker 2: The last part of that is also that I don't
• 39:24
  Speaker 2: I didn't really have a choice, to be honest, Like
• 39:26
  Speaker 2: it kind of depends on the business type. But I
• 39:27
  Speaker 2: couldn't have gone to a bank. Oh no, they wouldn't
• 39:29
  Speaker 2: have given you any seven million dollars.
• 39:31
  Speaker 3: No, And we needed that capital in order to expand
• 39:35
  Speaker 3: out across get any momentum. And it's just a way
• 39:39
  Speaker 3: start and.
• 39:39
  Speaker 2: Look it's expensive for me absolutely, Like I've just sold
• 39:42
  Speaker 2: equity for vending machines like that is crazy. You're not
• 39:45
  Speaker 2: actually supposed to do like do that hopefully next time?
• 39:48
  Speaker 3: Whatever, hope really next time.
• 39:49
  Speaker 2: I don't have to do that, and I can get you, yeah,
• 39:53
  Speaker 2: but some of us just don't have a choice. When
• 39:54
  Speaker 2: you need hardware, like you just have to buy it
• 39:56
  Speaker 2: on equity. So the idea is, in the next twelve years,
• 39:59
  Speaker 2: I am opened up to non dilutive funding, so I
• 40:02
  Speaker 2: can go and get like rent to buy schemes so
• 40:03
  Speaker 2: the hardware, or partner with a business that already makes hardware,
• 40:06
  Speaker 2: or you know, something like that.
• 40:07
  Speaker 3: I'd prefer a smaller piece of a bigger part. And
• 40:10
  Speaker 3: I feel like people don't understand that. For me personally,
• 40:14
  Speaker 3: I don't see anybody in my space running a business
• 40:17
  Speaker 3: like me how this works. And I go, well, if
• 40:19
  Speaker 3: I was going to bring in an investor, not only
• 40:21
  Speaker 3: would I want their money, please, but I would also
• 40:23
  Speaker 3: want their knowledge and experience. And for us that doesn't
• 40:27
  Speaker 3: make a lot of sense, but for you makes so
• 40:29
  Speaker 3: much sense because you're kind of like bringing people in
• 40:31
  Speaker 3: who then have skin in the game, who want you
• 40:34
  Speaker 3: to be successful because their profit benefits from that. So
• 40:37
  Speaker 3: they're going to put you in the best possible deposition the.
• 40:40
  Speaker 2: Right rooms exactly. Yeah, it's kind of like one of
• 40:43
  Speaker 2: those things you just have to like swallow your ego
• 40:46
  Speaker 2: a little, your pride. Like it's kind of like, you know,
• 40:49
  Speaker 2: I've built this amazing thing. Yeah, but what good is
• 40:51
  Speaker 2: it if I can't scale any bigger or you know,
• 40:53
  Speaker 2: do more things. So sure, I'll own more of it,
• 40:56
  Speaker 2: but what's it worth?
• 40:58
  Speaker 3: I love it, I love it, So tell me what
• 41:00
  Speaker 3: is next for you? And on the house.
• 41:03
  Speaker 2: Very exciting, So we have fifty more machines being installed
• 41:07
  Speaker 2: starting in two weeks. Just so exciting. So we're expanding
• 41:10
  Speaker 2: across Brisbane, Sydney, Melbourne, Gold Coast, all across the metro city,
• 41:15
  Speaker 2: which is really exciting, and then hopefully towards end of
• 41:17
  Speaker 2: year a couple of hundred more as well.
• 41:19
  Speaker 3: I feel like all of us have seen the vending machines,
• 41:22
  Speaker 3: either on social media or I've seen them in person.
• 41:24
  Speaker 3: I'm like, oh, I know her, Like I get excited
• 41:27
  Speaker 3: and no one else is in the bathroom, and I'm like, look,
• 41:30
  Speaker 3: it's so cool.
• 41:31
  Speaker 2: Like we have people literally take photos of our machines
• 41:34
  Speaker 2: and put them on their story as they whend But
• 41:36
  Speaker 2: when else would someone take a photo of a billboard
• 41:39
  Speaker 2: like that's cool and you share it to their stories. Yeah, yeah,
• 41:42
  Speaker 2: so it's great, and yeah, so we're expanding out. I've
• 41:44
  Speaker 2: just hired a team of five.
• 41:45
  Speaker 3: I was about to say, I've just hired a team
• 41:47
  Speaker 3: of five. What's going on there?
• 41:49
  Speaker 2: It's weird. Technically I have responsibility.
• 41:53
  Speaker 3: It's actually really scary.
• 41:54
  Speaker 2: Yeah, I was just saying, So you'll never get used
• 41:56
  Speaker 2: to that. I don't think I will either. It's an
• 41:59
  Speaker 2: interesting shift because I kind of attributed my value as
• 42:02
  Speaker 2: a person or as a founder to doing everything and
• 42:06
  Speaker 2: wearing all of the hats and always being so busy
• 42:08
  Speaker 2: and you know, reactive work. So now I'm shifting to
• 42:11
  Speaker 2: I've hired five people. I delegate I you know, really
• 42:15
  Speaker 2: gets so hard. And it's really weird because it's like, oh,
• 42:17
  Speaker 2: I now have like time freed up to do like
• 42:20
  Speaker 2: like the really hard stuff procrastination.
• 42:24
  Speaker 3: And this is not the truth. But as a founder,
• 42:27
  Speaker 3: you have this deep understanding that and this party is true.
• 42:31
  Speaker 3: But no one is going to care about your business
• 42:33
  Speaker 3: as much as you do. And that's like, at the
• 42:35
  Speaker 3: end of the day, the truth of it fine. But
• 42:37
  Speaker 3: then because of that ideology, you also believe that no
• 42:40
  Speaker 3: one can do the work as well as you can. Yeah,
• 42:43
  Speaker 3: handing it over to other people, you're like, oh, like
• 42:46
  Speaker 3: even though you hired them and they're probably a subject
• 42:48
  Speaker 3: matter expert at it, and you've just been making it
• 42:51
  Speaker 3: up all along, like they probably know better. But just
• 42:54
  Speaker 3: letting go. It's letting go. Oh and this is a
• 42:56
  Speaker 3: thing like I'm.
• 42:57
  Speaker 2: Still not there. You just have to hire people better
• 42:59
  Speaker 2: than you. That's my team. Every person my team is
• 43:02
  Speaker 2: better than me, that their own individual silo, right, and
• 43:06
  Speaker 2: so that Yeah, but sometimes it is it's it's letting go.
• 43:10
  Speaker 2: It's like that control. I think it's what it would
• 43:11
  Speaker 2: feel like, you know, when your kids go up and
• 43:14
  Speaker 2: they want to leave the house and you're like, oh, God,
• 43:16
  Speaker 2: like I don't trust you, but I do. You know,
• 43:17
  Speaker 2: I've got I do trust you. It's the same sort
• 43:20
  Speaker 2: of thing. So, yeah, that's a really strange And like
• 43:22
  Speaker 2: I get delegation guilt, Like I will give someone a
• 43:24
  Speaker 2: task and I feel mean for giving them a task.
• 43:28
  Speaker 3: Just yesterday and I was like, hey, I've got this thing.
• 43:30
  Speaker 3: I really need some help. Can I forward it to
• 43:32
  Speaker 3: you and you can fill it? Stack's so sorry, and
• 43:35
  Speaker 3: she was like secretly my job at ogay.
• 43:37
  Speaker 4: Yeah.
• 43:38
  Speaker 2: Sorry, yeah, So yeah, it's weird. It's just an identity shift,
• 43:41
  Speaker 2: that's all it is. I just went from doing everything
• 43:42
  Speaker 2: myself always. But what is so nice now is I'm
• 43:46
  Speaker 2: really trying to shift out of that reactive like yeah,
• 43:49
  Speaker 2: Like I was constantly like getting back to emails and
• 43:51
  Speaker 2: doing quick tasks that were like urgent. Now I can
• 43:54
  Speaker 2: shift more into you know, delegating those things and being
• 43:57
  Speaker 2: able to do like the groundwork and setting the foundations
• 44:00
  Speaker 2: and doing the really big deals. Actually, I had a
• 44:02
  Speaker 2: really amazing piece of advice from the founder of Thank You,
• 44:05
  Speaker 2: you know, the soap. Yeah. So he took me way
• 44:08
  Speaker 2: back at the start when I first was becoming a
• 44:09
  Speaker 2: founder and I was asking him for advice, and it
• 44:13
  Speaker 2: didn't make any sense to me when he told me
• 44:14
  Speaker 2: because I could not conceptualize what he was talking about
• 44:17
  Speaker 2: because I was a baby founder. So he was like,
• 44:19
  Speaker 2: find your five percent and only do your five percent. Yeah,
• 44:22
  Speaker 2: And I was like, oh, okay, and then we'll do
• 44:24
  Speaker 2: more than five percent.
• 44:25
  Speaker 3: Ye're weird.
• 44:25
  Speaker 2: You know, the things that are really you're really good
• 44:27
  Speaker 2: at that make the business the most money and you
• 44:30
  Speaker 2: enjoy the most plus the things that make you you,
• 44:33
  Speaker 2: like exercising and meditating and whatever that is, only do
• 44:37
  Speaker 2: that five percent. Everything else can be delegated. And at
• 44:39
  Speaker 2: the time I didn't have any staff. I was like, sure, mane, no,
• 44:43
  Speaker 2: I've to one hundred and five percent. I don't know
• 44:44
  Speaker 2: what you're talking about. So but then I just hired
• 44:48
  Speaker 2: all this all my.
• 44:48
  Speaker 3: Staff and it clicked. I was, yeah, this was what
• 44:52
  Speaker 3: he was talking about.
• 44:53
  Speaker 2: And that's because he was in that same sort of
• 44:55
  Speaker 2: like space at the time. So yeah, that was like
• 44:57
  Speaker 2: some of the best advice I ever got of just
• 44:58
  Speaker 2: being like yeah, and now I'm really trying trying to
• 45:00
  Speaker 2: pull back and only do my five percent and try
• 45:02
  Speaker 2: to that's how the business grows, Like, you know, I
• 45:05
  Speaker 2: have to do the things only I can do, and
• 45:07
  Speaker 2: everything else can go other places.
• 45:08
  Speaker 3: So all the other stuff is fun. It is it is.
• 45:11
  Speaker 3: That's all the fun stuff that we can get caught
• 45:14
  Speaker 3: up in. Yeah, it actually isn't moving the needle very much, No, exactly,
• 45:18
  Speaker 3: so annoying.
• 45:19
  Speaker 2: You, Yeah, yeah, you got to do the stuff that
• 45:20
  Speaker 2: no one else wants to get the rest of.
• 45:21
  Speaker 3: My team get all of the fun jobs, and I'm like, cool,
• 45:24
  Speaker 3: I'll talk.
• 45:24
  Speaker 2: To the lawyer, the financial modeling, wame but fine, Oh
• 45:30
  Speaker 2: my gosh, I could talk to you literally all day,
• 45:32
  Speaker 2: but it is.
• 45:33
  Speaker 3: Oh, I'm running out of time, and I'm just so
• 45:36
  Speaker 3: excited to see what the next chapter of On the
• 45:38
  Speaker 3: House brings. Thank you so much for joining us and
• 45:41
  Speaker 3: hanging out and having a chat and just being so candid.
• 45:44
  Speaker 3: I feel like it was a really eye opening chat
• 45:46
  Speaker 3: but also just like inspiring. I'm even going, Oh, I've
• 45:48
  Speaker 3: got so much to do. I'm so glad I talked
• 45:50
  Speaker 3: to really let's go, but no, this has been beautiful.
• 45:53
  Speaker 3: Thank you.
• 45:53
  Speaker 2: Thank you so much for having me. I really appreciate it.
• 45:55
  Speaker 2: And yeah for everyone listening, like, just do anything you can, literally,
• 45:59
  Speaker 2: anything you put your mind to.
• 46:00
  Speaker 3: You know how hard could it be, then do it literally,
• 46:02
  Speaker 3: they do it all the time. And of course, guys,
• 46:04
  Speaker 3: I'm going to link all of Remy's stuff in the
• 46:06
  Speaker 3: show notes because I know everyone is going to want
• 46:08
  Speaker 3: to follow her and on the House if they're not already.
• 46:12
  Speaker 3: And if you love this conversation as much as I did,
• 46:14
  Speaker 3: please share it with your friends so that we can
• 46:17
  Speaker 3: spread the word about the incredible work that Remy is doing.
• 46:20
  Speaker 3: And of course make sure that you're subscribed. We love
• 46:22
  Speaker 3: a subscription here, don't we remy so you don't miss
• 46:25
  Speaker 3: out on what's coming next, My friends, I will see
• 46:27
  Speaker 3: you on Friday.
• 46:28
  Speaker 4: Bye. The advice shared on She's on the Money is
• 46:37
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• 46:41
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• 46:45
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