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The New Rules of Running a Side Hustle in New Zealand · Making Cents

• 0:00
  At
• 0:00
  some
• 0:00
  point,
• 0:01
  a
• 0:01
  side
• 0:01
  hustle
• 0:02
  stops
• 0:02
  being
• 0:02
  a
• 0:03
  fun
• 0:03
  little
• 0:03
  earner,
• 0:04
  starts
• 0:04
  demanding
• 0:05
  to
• 0:05
  be
• 0:05
  taken
• 0:06
  seriously.
• 0:07
  More
• 0:07
  money
• 0:07
  is
• 0:07
  coming
• 0:08
  in,
• 0:08
  it's
• 0:08
  going
• 0:08
  well,
• 0:09
  and
• 0:09
  hey,
• 0:10
  yay.
• 0:11
  But
• 0:11
  that
• 0:11
  can
• 0:11
  turn
• 0:12
  into
• 0:12
  a
• 0:12
  curse
• 0:13
  if
• 0:13
  you
• 0:13
  don't
• 0:13
  sort
• 0:13
  out
• 0:14
  the
• 0:14
  system,
• 0:14
  get
• 0:14
  some
• 0:15
  visibility
• 0:15
  over
• 0:16
  it
• 0:16
  and
• 0:16
  figure
• 0:17
  out
• 0:17
  what's
• 0:18
  going
• 0:18
  where.
• 0:19
  Today's
• 0:19
  letter
• 0:20
  writer
• 0:20
  dealing
• 0:20
  with
• 0:21
  exactly
• 0:21
  this
• 0:22
  good
• 0:22
  news,
• 0:23
  bad
• 0:23
  news
• 0:24
  situation.
• 0:25
  It's
• 0:25
  going
• 0:25
  well,
• 0:26
  but
• 0:26
  they
• 0:26
  need
• 0:27
  to
• 0:27
  figure
• 0:27
  out
• 0:27
  a
• 0:27
  proper
• 0:27
  system
• 0:28
  before
• 0:28
  it
• 0:28
  all
• 0:29
  collapses
• 0:29
  in
• 0:29
  a
• 0:29
  heap
• 0:30
  under
• 0:30
  the
• 0:30
  weight
• 0:31
  of
• 0:31
  its
• 0:31
  own
• 0:31
  success.
• 0:31
  Success.
• 0:32
  So
• 0:33
  welcome
• 0:33
  to
• 0:33
  Ask
• 0:33
  the
• 0:33
  Experts,
• 0:34
  where
• 0:34
  each
• 0:34
  week
• 0:35
  we
• 0:35
  take
• 0:35
  your
• 0:35
  questions,
• 0:36
  get
• 0:37
  them
• 0:37
  in
• 0:37
  front
• 0:37
  of
• 0:37
  someone
• 0:37
  from
• 0:38
  inside
• 0:38
  the
• 0:38
  money
• 0:38
  world.
• 0:39
  Get
• 0:40
  those
• 0:40
  insider
• 0:40
  tips
• 0:41
  and
• 0:41
  tricks
• 0:42
  that
• 0:42
  can
• 0:42
  make
• 0:42
  all
• 0:43
  the
• 0:43
  difference.
• 0:44
  This
• 0:44
  episode
• 0:44
  of
• 0:45
  Making
• 0:45
  Sense
• 0:45
  is
• 0:45
  supported
• 0:46
  by
• 0:46
  Revolut
• 0:47
  Business,
• 0:47
  the
• 0:47
  account
• 0:48
  built
• 0:48
  to
• 0:48
  help
• 0:48
  you
• 0:49
  simplify
• 0:49
  your
• 0:49
  finances.
• 0:50
  Scale
• 0:51
  at
• 0:51
  speed.
• 0:51
  Check
• 0:52
  out
• 0:52
  the
• 0:52
  link
• 0:52
  in
• 0:52
  the
• 0:52
  description
• 0:53
  to
• 0:53
  claim
• 0:53
  a
• 0:54
  one
• 0:54
  month
• 0:54
  trial.
• 0:55
  I
• 0:55
  want
• 0:55
  to
• 0:56
  help
• 0:56
  as
• 0:56
  many
• 0:56
  people
• 0:56
  as
• 0:57
  possible
• 0:57
  reach
• 0:57
  financial
• 0:58
  freedom
• 0:58
  by
• 0:58
  taking
• 0:59
  control
• 0:59
  of
• 1:00
  their
• 1:00
  money.
• 1:00
  And
• 1:00
  you
• 1:01
  can
• 1:01
  help
• 1:01
  me
• 1:01
  in
• 1:01
  that
• 1:01
  mission
• 1:02
  two
• 1:02
  really
• 1:03
  easy
• 1:03
  ways.
• 1:04
  First,
• 1:04
  hit
• 1:05
  subscribe
• 1:05
  wherever
• 1:06
  you
• 1:06
  like
• 1:06
  to
• 1:06
  listen.
• 1:07
  YouTube,
• 1:07
  Spotify,
• 1:08
  Apple
• 1:08
  Podcasts
• 1:09
  or
• 1:09
  any
• 1:09
  other
• 1:09
  podcast
• 1:10
  player.
• 1:11
  Then
• 1:11
  send
• 1:12
  this
• 1:12
  episode
• 1:12
  to
• 1:12
  a
• 1:12
  friend
• 1:13
  so
• 1:13
  we
• 1:13
  can
• 1:13
  all
• 1:13
  level
• 1:13
  up
• 1:14
  our
• 1:14
  money
• 1:14
  together.
• 1:15
  Then
• 1:15
  the
• 1:15
  show
• 1:15
  grows
• 1:16
  and
• 1:16
  I
• 1:16
  can
• 1:16
  keep
• 1:17
  giving
• 1:17
  you
• 1:17
  the
• 1:17
  money
• 1:17
  info
• 1:18
  that
• 1:18
  makes
• 1:18
  a
• 1:19
  difference
• 1:19
  to
• 1:20
  your
• 1:20
  life.
• 1:20
  James
• 1:21
  Gibson,
• 1:21
  head
• 1:22
  of
• 1:22
  Revolut
• 1:22
  Business,
• 1:22
  in
• 1:23
  the
• 1:23
  hot
• 1:23
  seat.
• 1:23
  Are
• 1:24
  you
• 1:24
  ready
• 1:24
  for
• 1:24
  the
• 1:24
  letter?
• 1:25
  Yes,
• 1:25
  I
• 1:25
  am.
• 1:26
  Perfect.
• 1:27
  All
• 1:27
  right.
• 1:28
  Hi,
• 1:28
  Francis.
• 1:28
  I've
• 1:29
  been
• 1:29
  working
• 1:29
  on
• 1:29
  a
• 1:29
  side
• 1:29
  hustle
• 1:30
  that's
• 1:30
  slowly
• 1:31
  turning
• 1:31
  into
• 1:31
  real
• 1:32
  money.
• 1:32
  The
• 1:32
  problem
• 1:33
  is,
• 1:33
  as
• 1:33
  it
• 1:33
  gets
• 1:34
  bigger,
• 1:34
  everything
• 1:35
  is
• 1:35
  feeling
• 1:35
  messy.
• 1:37
  Some
• 1:37
  income
• 1:37
  is
• 1:37
  from
• 1:37
  my
• 1:38
  job,
• 1:38
  some
• 1:38
  is
• 1:38
  from
• 1:39
  side
• 1:39
  work.
• 1:39
  But
• 1:40
  right
• 1:40
  now
• 1:40
  it's
• 1:41
  all
• 1:41
  just
• 1:41
  going
• 1:41
  into
• 1:41
  my
• 1:41
  personal
• 1:42
  account
• 1:42
  and
• 1:43
  I
• 1:43
  have
• 1:43
  no
• 1:43
  real
• 1:43
  system.
• 1:44
  I
• 1:44
  don't
• 1:44
  know
• 1:44
  what
• 1:45
  I'm
• 1:45
  earning
• 1:45
  properly,
• 1:46
  what
• 1:46
  I'm
• 1:46
  spending,
• 1:47
  and
• 1:47
  I'm
• 1:47
  getting
• 1:48
  stressed.
• 1:48
  At
• 1:49
  what
• 1:49
  point
• 1:50
  do
• 1:50
  you
• 1:50
  need
• 1:50
  to
• 1:50
  treat
• 1:50
  this
• 1:51
  like
• 1:51
  a
• 1:51
  real
• 1:52
  setup
• 1:53
  instead
• 1:53
  of
• 1:53
  just
• 1:53
  winging
• 1:54
  it?
• 1:54
  How
• 1:54
  do
• 1:55
  you
• 1:55
  structure
• 1:55
  all
• 1:55
  of
• 1:55
  that?
• 1:56
  When
• 1:56
  I
• 1:56
  love
• 1:56
  my
• 1:56
  side
• 1:56
  hustle,
• 1:57
  but
• 1:58
  I've
• 1:58
  never
• 1:59
  really
• 1:59
  been
• 2:00
  a
• 2:00
  numbers
• 2:00
  person.
• 2:01
  Thanks.
• 2:02
  I've
• 2:02
  got
• 2:02
  to
• 2:03
  say,
• 2:03
  this
• 2:03
  feels
• 2:03
  like
• 2:03
  a
• 2:03
  good
• 2:03
  problem
• 2:04
  to
• 2:04
  have,
• 2:04
  even
• 2:04
  if
• 2:04
  it's
• 2:05
  a
• 2:05
  slightly
• 2:05
  tricky
• 2:06
  one.
• 2:07
  As
• 2:07
  things
• 2:07
  start
• 2:08
  growing,
• 2:08
  it
• 2:08
  does
• 2:08
  get
• 2:09
  a
• 2:09
  bit
• 2:09
  messier,
• 2:09
  doesn't
• 2:09
  it?
• 2:10
  Absolutely.
• 2:11
  I
• 2:11
  mean,
• 2:11
  There
• 2:12
  are
• 2:12
  over
• 2:12
  500,000
• 2:13
  small
• 2:14
  and
• 2:14
  medium
• 2:15
  enterprises
• 2:15
  in
• 2:15
  New
• 2:16
  Zealand
• 2:16
  and
• 2:17
  this
• 2:17
  is
• 2:17
  a
• 2:18
  very,
• 2:18
  very
• 2:18
  common
• 2:19
  problem
• 2:19
  to
• 2:19
  have.
• 2:20
  Most
• 2:20
  businesses
• 2:21
  start
• 2:21
  on
• 2:22
  the
• 2:22
  couch
• 2:22
  as
• 2:22
  we
• 2:22
  are
• 2:23
  now.
• 2:23
  Someone
• 2:23
  thinking,
• 2:23
  oh,
• 2:24
  I'm
• 2:24
  going
• 2:24
  to
• 2:24
  start
• 2:24
  selling
• 2:25
  this,
• 2:25
  start
• 2:25
  doing
• 2:25
  that,
• 2:26
  and
• 2:26
  they
• 2:26
  kind
• 2:26
  of
• 2:27
  evolve
• 2:27
  from
• 2:27
  there.
• 2:27
  So
• 2:27
  it's
• 2:28
  incredibly
• 2:28
  natural
• 2:29
  for
• 2:29
  a
• 2:29
  business
• 2:29
  to
• 2:30
  start
• 2:30
  through
• 2:31
  running
• 2:31
  through
• 2:32
  a
• 2:32
  personal
• 2:32
  account.
• 2:32
  And
• 2:32
  then
• 2:33
  as
• 2:33
  things
• 2:33
  evolve,
• 2:34
  this
• 2:34
  becomes
• 2:34
  a
• 2:34
  little
• 2:35
  bit
• 2:35
  more
• 2:35
  messy,
• 2:35
  a
• 2:35
  little
• 2:36
  bit
• 2:36
  trickier
• 2:36
  to
• 2:37
  manage.
• 2:38
  So
• 2:38
  when
• 2:38
  do
• 2:39
  you
• 2:39
  know
• 2:39
  it's
• 2:39
  a
• 2:39
  tipping
• 2:40
  point
• 2:40
  or
• 2:40
  really
• 2:41
  should
• 2:41
  we
• 2:41
  have
• 2:41
  it
• 2:41
  started
• 2:42
  from
• 2:42
  the
• 2:42
  beginning,
• 2:42
  but
• 2:43
  when
• 2:43
  do
• 2:44
  we
• 2:44
  tip
• 2:44
  into.
• 2:44
  No,
• 2:44
  it's
• 2:45
  really
• 2:45
  time
• 2:45
  to
• 2:45
  go.
• 2:46
  The
• 2:46
  tipping
• 2:46
  point
• 2:46
  really
• 2:47
  comes
• 2:47
  when
• 2:47
  it
• 2:47
  becomes
• 2:48
  a
• 2:48
  pain
• 2:48
  for
• 2:49
  you
• 2:49
  and
• 2:49
  starts
• 2:49
  to
• 2:50
  SAP
• 2:51
  your
• 2:51
  energy.
• 2:51
  And
• 2:52
  I
• 2:52
  guess
• 2:52
  the
• 2:52
  problem
• 2:53
  is
• 2:53
  that
• 2:53
  you
• 2:53
  don't
• 2:54
  want,
• 2:54
  you
• 2:54
  really
• 2:54
  don't
• 2:55
  want
• 2:55
  to
• 2:55
  get
• 2:55
  to
• 2:55
  this
• 2:55
  point
• 2:55
  where
• 2:56
  it's
• 2:56
  sapping
• 2:56
  your
• 2:56
  energy.
• 2:56
  You
• 2:56
  kind
• 2:57
  of
• 2:57
  want
• 2:57
  to
• 2:57
  sort
• 2:57
  things
• 2:57
  out
• 2:57
  before
• 2:58
  then.
• 2:58
  I
• 2:58
  think
• 2:58
  a
• 2:58
  good
• 2:59
  rule
• 2:59
  of
• 2:59
  thumb
• 2:59
  is
• 2:59
  if
• 2:59
  you're
• 3:00
  starting
• 3:00
  to
• 3:00
  transact
• 3:01
  over
• 3:01
  once
• 3:01
  a
• 3:01
  week,
• 3:02
  that's
• 3:02
  the
• 3:02
  point
• 3:02
  at
• 3:03
  which
• 3:03
  it
• 3:03
  will
• 3:03
  probably
• 3:03
  start
• 3:04
  to
• 3:04
  become
• 3:04
  a
• 3:04
  little
• 3:04
  bit
• 3:04
  more
• 3:05
  complicated
• 3:05
  to
• 3:05
  manage
• 3:06
  retrospectively
• 3:07
  and
• 3:07
  also
• 3:08
  will
• 3:09
  start
• 3:09
  to
• 3:09
  rack
• 3:09
  up
• 3:10
  costs.
• 3:10
  And
• 3:10
  that's
• 3:10
  maybe
• 3:11
  when
• 3:11
  you
• 3:11
  want
• 3:11
  to
• 3:11
  start
• 3:11
  thinking
• 3:12
  about
• 3:12
  separating
• 3:13
  your
• 3:13
  finances.
• 3:14
  Okay,
• 3:14
  what
• 3:15
  are
• 3:15
  some
• 3:15
  early
• 3:15
  first
• 3:15
  steps
• 3:16
  that
• 3:16
  can
• 3:16
  help?
• 3:16
  I
• 3:17
  think
• 3:17
  the
• 3:17
  most
• 3:17
  obvious
• 3:18
  one
• 3:18
  is
• 3:18
  to
• 3:19
  open
• 3:19
  a
• 3:20
  small
• 3:20
  business
• 3:21
  account,
• 3:21
  literally
• 3:22
  separate
• 3:23
  into
• 3:23
  two
• 3:23
  separate
• 3:23
  accounts,
• 3:24
  your
• 3:25
  business
• 3:25
  activity
• 3:26
  and
• 3:26
  your
• 3:26
  personal
• 3:26
  activity.
• 3:27
  To
• 3:28
  some
• 3:28
  people
• 3:28
  this
• 3:28
  will
• 3:28
  seem
• 3:28
  like
• 3:29
  a
• 3:29
  huge
• 3:29
  step
• 3:30
  that
• 3:30
  actually
• 3:31
  is
• 3:31
  a
• 3:31
  very
• 3:31
  simple
• 3:31
  thing
• 3:32
  to
• 3:32
  do.
• 3:32
  And
• 3:32
  what
• 3:33
  it
• 3:33
  means
• 3:33
  is
• 3:33
  that
• 3:33
  every
• 3:33
  time
• 3:34
  you
• 3:34
  go
• 3:34
  and
• 3:34
  you're
• 3:34
  buying
• 3:34
  a
• 3:34
  coffee
• 3:35
  and
• 3:35
  it's
• 3:35
  a
• 3:35
  work
• 3:35
  related
• 3:36
  coffee,
• 3:36
  you
• 3:37
  just
• 3:37
  spend
• 3:37
  on,
• 3:37
  on
• 3:38
  your
• 3:38
  work
• 3:38
  card
• 3:38
  or
• 3:38
  when
• 3:39
  you're
• 3:39
  giving
• 3:39
  out
• 3:40
  your
• 3:40
  bank
• 3:40
  details
• 3:40
  to
• 3:41
  a
• 3:41
  client
• 3:41
  to
• 3:41
  pay,
• 3:42
  but
• 3:42
  you
• 3:42
  give
• 3:42
  out
• 3:42
  your
• 3:43
  business
• 3:43
  details
• 3:43
  rather
• 3:44
  than
• 3:44
  your
• 3:44
  personal
• 3:44
  ones
• 3:45
  and
• 3:45
  then
• 3:46
  obviously
• 3:46
  everything
• 3:46
  else
• 3:46
  goes
• 3:47
  through
• 3:47
  your
• 3:47
  personal
• 3:47
  account.
• 3:48
  So
• 3:48
  having
• 3:48
  that
• 3:48
  separate
• 3:49
  account
• 3:49
  is
• 3:49
  the,
• 3:50
  is
• 3:50
  the
• 3:50
  first
• 3:50
  step
• 3:50
  and
• 3:51
  will
• 3:52
  lighten
• 3:52
  the
• 3:53
  load
• 3:53
  enormously
• 3:54
  for,
• 3:54
  for
• 3:55
  small
• 3:55
  businesses
• 3:55
  who
• 3:56
  are
• 3:56
  just
• 3:56
  getting
• 3:56
  started.
• 3:57
  It's
• 3:57
  funny,
• 3:57
  isn't
• 3:58
  it,
• 3:58
  where
• 3:59
  you,
• 4:00
  as
• 4:00
  you
• 4:00
  said,
• 4:01
  that
• 4:01
  will
• 4:01
  feel
• 4:02
  like
• 4:02
  a
• 4:02
  huge
• 4:02
  step
• 4:02
  for
• 4:03
  a
• 4:03
  lot
• 4:03
  of
• 4:03
  people.
• 4:03
  I
• 4:03
  feel
• 4:03
  like
• 4:03
  it's
• 4:04
  the
• 4:04
  moment
• 4:04
  where
• 4:04
  you,
• 4:06
  it's
• 4:06
  almost
• 4:06
  less
• 4:06
  of
• 4:06
  a
• 4:07
  financial
• 4:07
  step
• 4:07
  than
• 4:07
  a
• 4:08
  mental
• 4:08
  step
• 4:08
  where
• 4:09
  you're
• 4:09
  accepting
• 4:09
  that
• 4:10
  this
• 4:10
  is
• 4:10
  legit,
• 4:10
  this
• 4:10
  is
• 4:11
  real,
• 4:11
  and
• 4:11
  I'm
• 4:11
  committing
• 4:11
  to
• 4:12
  it.
• 4:12
  Do
• 4:12
  you
• 4:12
  think
• 4:13
  that
• 4:13
  holds
• 4:13
  people
• 4:13
  back
• 4:14
  a
• 4:14
  little
• 4:14
  bit
• 4:14
  from
• 4:14
  making
• 4:14
  some
• 4:15
  of
• 4:15
  these
• 4:15
  quite
• 4:15
  necessary
• 4:16
  changes?
• 4:17
  Yeah,
• 4:17
  maybe,
• 4:18
  maybe
• 4:18
  people
• 4:18
  don't
• 4:18
  want
• 4:18
  to
• 4:19
  sort
• 4:19
  of
• 4:19
  tempt
• 4:19
  fate
• 4:20
  with
• 4:20
  the
• 4:20
  whole
• 4:20
  thing
• 4:20
  or
• 4:21
  kind
• 4:21
  of
• 4:21
  think
• 4:21
  that
• 4:22
  this
• 4:22
  is,
• 4:23
  they're
• 4:23
  being,
• 4:23
  making
• 4:24
  it
• 4:24
  more
• 4:25
  important
• 4:25
  than
• 4:25
  it
• 4:25
  is.
• 4:26
  But
• 4:26
  I
• 4:27
  would
• 4:27
  say
• 4:27
  now
• 4:27
  it's
• 4:28
  become
• 4:28
  so
• 4:28
  easy
• 4:28
  to
• 4:29
  open
• 4:29
  a
• 4:29
  secondary
• 4:30
  account
• 4:30
  and
• 4:30
  with
• 4:31
  digital
• 4:31
  providers
• 4:32
  coming
• 4:32
  to
• 4:32
  the
• 4:32
  market
• 4:32
  such
• 4:33
  as
• 4:33
  Revolut,
• 4:33
  you
• 4:33
  can,
• 4:34
  can
• 4:34
  do
• 4:34
  it
• 4:34
  same
• 4:34
  day.
• 4:34
  And
• 4:34
  so
• 4:35
  it's
• 4:35
  no
• 4:35
  longer
• 4:35
  this
• 4:36
  massive
• 4:36
  hurdle
• 4:36
  that
• 4:37
  you
• 4:37
  have
• 4:37
  to
• 4:37
  overcome.
• 4:37
  It's
• 4:38
  something
• 4:38
  you
• 4:38
  can
• 4:38
  go
• 4:38
  and
• 4:38
  do
• 4:39
  kind
• 4:39
  of
• 4:40
  on
• 4:40
  a
• 4:40
  Tuesday
• 4:41
  evening
• 4:41
  from
• 4:42
  your
• 4:42
  sofa,
• 4:43
  opening
• 4:43
  this
• 4:44
  account.
• 4:44
  So
• 4:44
  I
• 4:44
  don't
• 4:44
  think
• 4:44
  it
• 4:44
  has
• 4:45
  to
• 4:45
  be
• 4:45
  such
• 4:45
  a
• 4:45
  big
• 4:45
  hurdle
• 4:46
  as
• 4:46
  it
• 4:46
  would
• 4:46
  have
• 4:46
  been
• 4:46
  historically.
• 4:47
  Yeah.
• 4:48
  And
• 4:49
  the
• 4:49
  flip
• 4:49
  side,
• 4:50
  what
• 4:50
  can
• 4:50
  go
• 4:50
  wrong
• 4:51
  if
• 4:51
  you
• 4:51
  do
• 4:51
  keep
• 4:51
  winging
• 4:52
  it
• 4:52
  past
• 4:53
  these
• 4:53
  sort
• 4:53
  of
• 4:53
  pain
• 4:53
  points?
• 4:54
  There's
• 4:54
  a
• 4:55
  few
• 4:55
  things
• 4:55
  that
• 4:55
  can
• 4:55
  go
• 4:56
  wrong.
• 4:56
  So
• 4:56
  the
• 4:56
  first,
• 4:56
  most
• 4:56
  obvious
• 4:57
  one
• 4:57
  is
• 4:57
  you
• 4:57
  can
• 4:58
  end
• 4:58
  up
• 4:58
  spending
• 4:58
  a
• 4:59
  lot
• 4:59
  more
• 4:59
  than
• 4:59
  you
• 4:59
  needed
• 5:00
  to
• 5:00
  on
• 5:00
  fees.
• 5:01
  These
• 5:01
  could
• 5:01
  be
• 5:02
  foreign
• 5:02
  currency
• 5:02
  fees
• 5:03
  or
• 5:03
  fees
• 5:03
  to
• 5:04
  receive
• 5:04
  payments
• 5:05
  from
• 5:05
  customers.
• 5:06
  You
• 5:06
  don't
• 5:06
  really
• 5:06
  want
• 5:06
  to
• 5:06
  do
• 5:06
  that.
• 5:07
  You
• 5:07
  don't
• 5:07
  want
• 5:07
  to
• 5:07
  realize
• 5:07
  that
• 5:08
  too
• 5:08
  late
• 5:08
  that
• 5:08
  all
• 5:08
  your
• 5:08
  hard
• 5:09
  work
• 5:09
  is
• 5:09
  going
• 5:10
  in
• 5:10
  fees
• 5:10
  to
• 5:10
  your
• 5:10
  bank.
• 5:11
  It
• 5:11
  can
• 5:11
  also
• 5:12
  end
• 5:12
  up
• 5:12
  being
• 5:13
  a
• 5:13
  mess
• 5:13
  in
• 5:14
  terms
• 5:14
  of
• 5:14
  then
• 5:14
  trying
• 5:14
  to
• 5:15
  account
• 5:15
  for
• 5:15
  what
• 5:15
  you've
• 5:16
  spent
• 5:16
  through
• 5:16
  your
• 5:16
  business.
• 5:16
  And
• 5:17
  best
• 5:17
  case
• 5:17
  scenario,
• 5:18
  that
• 5:18
  just
• 5:18
  means
• 5:18
  a
• 5:18
  lot
• 5:18
  of
• 5:18
  time
• 5:19
  looking
• 5:19
  for
• 5:19
  receipts.
• 5:20
  Worst
• 5:20
  case
• 5:21
  scenario,
• 5:21
  your
• 5:21
  account
• 5:22
  is
• 5:22
  saying
• 5:22
  this
• 5:22
  is
• 5:23
  impossible
• 5:23
  to
• 5:23
  understand.
• 5:24
  I
• 5:24
  don't
• 5:24
  know
• 5:25
  what
• 5:25
  we're
• 5:25
  going
• 5:25
  to
• 5:25
  do.
• 5:26
  That's
• 5:26
  something
• 5:26
  you
• 5:26
  ever
• 5:26
  want
• 5:26
  to
• 5:27
  hear
• 5:27
  from
• 5:27
  me.
• 5:27
  You
• 5:27
  don't
• 5:27
  want
• 5:27
  to
• 5:27
  get.
• 5:27
  I
• 5:28
  mean
• 5:28
  the
• 5:28
  good
• 5:28
  thing
• 5:28
  about
• 5:29
  that
• 5:29
  is
• 5:29
  probably
• 5:29
  to
• 5:30
  get
• 5:30
  to
• 5:30
  that
• 5:30
  point,
• 5:30
  your
• 5:30
  business
• 5:30
  is
• 5:31
  doing
• 5:31
  really
• 5:31
  well.
• 5:32
  But
• 5:32
  you
• 5:32
  know,
• 5:32
  if
• 5:33
  your
• 5:33
  business
• 5:33
  is
• 5:33
  doing
• 5:33
  really
• 5:33
  well,
• 5:34
  you
• 5:34
  don't
• 5:34
  want
• 5:34
  to
• 5:34
  be
• 5:34
  thinking
• 5:35
  about
• 5:35
  banking.
• 5:35
  So
• 5:36
  you
• 5:36
  kind
• 5:36
  of
• 5:36
  want
• 5:36
  to
• 5:36
  sort
• 5:36
  out
• 5:36
  beforehand.
• 5:37
  The
• 5:37
  final
• 5:37
  thing
• 5:38
  is
• 5:38
  that
• 5:38
  some
• 5:38
  banks
• 5:39
  can
• 5:39
  also
• 5:39
  find
• 5:40
  if
• 5:40
  you
• 5:40
  start
• 5:40
  to
• 5:41
  scale
• 5:41
  up
• 5:41
  the
• 5:41
  amount
• 5:41
  of
• 5:42
  activity
• 5:42
  you're
• 5:43
  doing
• 5:43
  through
• 5:43
  a
• 5:43
  personal
• 5:43
  account
• 5:44
  for
• 5:44
  your
• 5:44
  business,
• 5:45
  that
• 5:45
  can
• 5:45
  become
• 5:45
  a
• 5:45
  problem
• 5:46
  for
• 5:46
  them.
• 5:46
  They
• 5:46
  don't
• 5:46
  want
• 5:47
  you
• 5:47
  doing
• 5:47
  business
• 5:48
  activity
• 5:48
  through
• 5:49
  personal
• 5:49
  accounts
• 5:49
  for
• 5:50
  a
• 5:50
  variety
• 5:50
  of
• 5:50
  reasons.
• 5:51
  So
• 5:51
  trying
• 5:51
  to
• 5:52
  get
• 5:52
  ahead
• 5:52
  of
• 5:52
  the
• 5:52
  curve
• 5:52
  as
• 5:53
  you
• 5:53
  start
• 5:53
  to
• 5:53
  see
• 5:53
  things
• 5:53
  ticking
• 5:54
  up,
• 5:54
  taking
• 5:54
  the
• 5:55
  hour
• 5:55
  or
• 5:56
  so
• 5:56
  to
• 5:56
  then
• 5:56
  apply
• 5:57
  less
• 5:57
  than
• 5:57
  an
• 5:57
  hour
• 5:57
  to
• 5:58
  apply
• 5:58
  for
• 5:58
  an
• 5:58
  account
• 5:59
  to
• 5:59
  separate
• 5:59
  your
• 5:59
  finances,
• 6:00
  I
• 6:00
  think
• 6:00
  is
• 6:01
  a
• 6:01
  small
• 6:01
  investment
• 6:01
  and
• 6:02
  can
• 6:02
  really
• 6:02
  pay
• 6:02
  dividends
• 6:03
  in
• 6:03
  the
• 6:03
  kind
• 6:03
  of
• 6:04
  1
• 6:04
  to
• 6:05
  12
• 6:05
  month
• 6:05
  time
• 6:06
  horizon.
• 6:07
  Yeah.
• 6:07
  And
• 6:07
  I
• 6:07
  think
• 6:07
  particularly
• 6:08
  if
• 6:08
  someone
• 6:09
  is
• 6:09
  doing
• 6:09
  something
• 6:09
  where
• 6:10
  they
• 6:10
  are,
• 6:10
  it's
• 6:11
  a
• 6:11
  small
• 6:11
  business.
• 6:11
  Yes.
• 6:12
  But
• 6:12
  currently
• 6:12
  a
• 6:13
  side
• 6:13
  hustle.
• 6:13
  So
• 6:13
  your
• 6:13
  time
• 6:14
  is
• 6:14
  already
• 6:15
  quite
• 6:15
  valuable.
• 6:16
  You
• 6:16
  know,
• 6:17
  you're
• 6:17
  quite
• 6:17
  crunchy
• 6:18
  on
• 6:18
  your
• 6:18
  time
• 6:18
  and
• 6:19
  if
• 6:19
  you're
• 6:19
  spending
• 6:19
  all
• 6:20
  your
• 6:20
  time
• 6:20
  trying
• 6:20
  to
• 6:21
  then
• 6:21
  go
• 6:21
  through
• 6:21
  and,
• 6:22
  and
• 6:22
  figure
• 6:23
  out
• 6:23
  this
• 6:23
  money
• 6:24
  stuff,
• 6:24
  you're
• 6:25
  double
• 6:25
  handling.
• 6:26
  And
• 6:26
  is
• 6:27
  that
• 6:27
  really
• 6:27
  the
• 6:27
  best
• 6:27
  use
• 6:27
  of
• 6:28
  your
• 6:28
  time?
• 6:28
  It
• 6:28
  could
• 6:28
  stop
• 6:28
  your
• 6:28
  business
• 6:29
  growing,
• 6:29
  couldn't
• 6:29
  it?
• 6:30
  Yeah.
• 6:30
  I
• 6:30
  mean
• 6:30
  the
• 6:31
  reader
• 6:31
  that
• 6:32
  you
• 6:32
  mentioned
• 6:33
  will
• 6:33
  be
• 6:33
  spending
• 6:33
  an
• 6:34
  hour
• 6:34
  or
• 6:34
  a
• 6:34
  couple
• 6:34
  of
• 6:34
  hours
• 6:35
  a
• 6:35
  month
• 6:36
  literally
• 6:36
  just
• 6:36
  sorting
• 6:36
  through
• 6:37
  receipts
• 6:37
  like
• 6:37
  Is
• 6:38
  that
• 6:38
  a
• 6:38
  good
• 6:38
  use
• 6:38
  of
• 6:38
  time
• 6:38
  or
• 6:39
  could
• 6:39
  that
• 6:39
  time
• 6:39
  be
• 6:39
  used
• 6:40
  to
• 6:40
  actually
• 6:40
  be
• 6:40
  billing
• 6:41
  clients
• 6:41
  for
• 6:41
  producing
• 6:42
  work?
• 6:42
  And
• 6:42
  clearly
• 6:42
  it's
• 6:42
  the
• 6:43
  latter.
• 6:43
  So
• 6:43
  yeah,
• 6:44
  it
• 6:44
  becomes
• 6:44
  a
• 6:44
  real
• 6:44
  drain
• 6:45
  on
• 6:45
  your
• 6:46
  time.
• 6:46
  That
• 6:46
  also
• 6:47
  scales
• 6:47
  to
• 6:47
  larger
• 6:47
  businesses
• 6:48
  as
• 6:48
  well.
• 6:48
  Of
• 6:48
  course,
• 6:49
  like
• 6:49
  the
• 6:49
  larger
• 6:49
  you
• 6:50
  get,
• 6:50
  the
• 6:50
  more
• 6:50
  drain
• 6:51
  it
• 6:51
  is
• 6:51
  on
• 6:51
  your
• 6:52
  time,
• 6:52
  but
• 6:53
  is
• 6:53
  equally
• 6:53
  true
• 6:53
  for
• 6:53
  a
• 6:54
  one
• 6:54
  person
• 6:54
  side
• 6:55
  hustle.
• 6:56
  This
• 6:56
  episode
• 6:56
  of
• 6:56
  Making
• 6:57
  Sense
• 6:57
  is
• 6:57
  supported
• 6:58
  by
• 6:58
  Revolut
• 6:58
  Business.
• 6:59
  Because
• 6:59
  you
• 6:59
  don't
• 7:00
  need
• 7:00
  to
• 7:00
  be
• 7:00
  an
• 7:00
  accounting
• 7:01
  expert
• 7:01
  to
• 7:01
  run
• 7:02
  a
• 7:02
  growing
• 7:02
  business.
• 7:03
  You
• 7:03
  just
• 7:03
  need
• 7:04
  the
• 7:04
  right
• 7:04
  tools.
• 7:05
  That's
• 7:05
  Revolut
• 7:06
  Business.
• 7:07
  One
• 7:07
  platform
• 7:07
  built
• 7:08
  for
• 7:08
  all
• 7:08
  your
• 7:08
  finances,
• 7:09
  including
• 7:10
  global
• 7:10
  payments,
• 7:11
  multiple
• 7:11
  currencies,
• 7:12
  expense
• 7:12
  management,
• 7:13
  all
• 7:13
  in
• 7:14
  one
• 7:14
  place.
• 7:15
  They've
• 7:15
  got
• 7:16
  really
• 7:16
  handy
• 7:17
  features
• 7:17
  like
• 7:18
  from
• 7:18
  day
• 7:18
  one
• 7:19
  you
• 7:19
  can
• 7:19
  issue
• 7:20
  corporate
• 7:20
  cards
• 7:20
  with
• 7:20
  custom
• 7:21
  spending
• 7:21
  limits,
• 7:22
  track
• 7:22
  every
• 7:23
  transaction
• 7:23
  in
• 7:23
  real
• 7:24
  time,
• 7:24
  and
• 7:24
  manage
• 7:25
  your
• 7:25
  cash
• 7:25
  flow
• 7:25
  with
• 7:26
  no
• 7:26
  surprise
• 7:26
  fees.
• 7:27
  Less
• 7:28
  time,
• 7:28
  fewer
• 7:29
  surprises,
• 7:30
  leaving
• 7:30
  you
• 7:30
  with
• 7:30
  more
• 7:31
  time
• 7:31
  to
• 7:31
  do
• 7:31
  the
• 7:31
  things
• 7:32
  that
• 7:32
  actually
• 7:32
  move
• 7:33
  your
• 7:33
  business
• 7:33
  forward.
• 7:34
  Over
• 7:34
  800,000
• 7:36
  businesses
• 7:36
  are
• 7:37
  already
• 7:37
  using
• 7:37
  it.
• 7:38
  Use
• 7:38
  the
• 7:38
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• 7:38
  in
• 7:39
  this
• 7:39
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• 7:39
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• 7:40
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• 7:40
  claim
• 7:40
  a
• 7:40
  one
• 7:40
  month
• 7:41
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• 7:41
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• 7:41
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• 7:42
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• 7:42
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• 7:42
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• 7:43
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• 7:43
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• 7:44
  Subscription
• 7:44
  fees
• 7:45
  and
• 7:45
  terms
• 7:45
  and
• 7:45
  conditions
• 7:46
  do
• 7:46
  apply.
• 7:47
  Okay,
• 7:48
  so
• 7:48
  when
• 7:48
  people
• 7:48
  are
• 7:49
  then
• 7:49
  looking
• 7:49
  at
• 7:50
  this
• 7:50
  and
• 7:50
  they're
• 7:50
  thinking,
• 7:50
  okay,
• 7:50
  I've
• 7:51
  got
• 7:51
  it
• 7:51
  separated
• 7:51
  out
• 7:52
  different
• 7:52
  bank
• 7:52
  accounts,
• 7:53
  any
• 7:53
  other
• 7:53
  systems
• 7:54
  they
• 7:54
  should
• 7:54
  look
• 7:54
  to
• 7:54
  get
• 7:54
  in
• 7:54
  place
• 7:54
  to
• 7:55
  make
• 7:55
  life
• 7:55
  a
• 7:55
  bit
• 7:55
  easier.
• 7:56
  I
• 7:56
  think
• 7:56
  the
• 7:56
  next
• 7:56
  natural
• 7:57
  system
• 7:57
  after
• 7:57
  that
• 7:58
  is
• 7:58
  to
• 7:59
  have
• 7:59
  an
• 7:59
  integration
• 8:00
  with
• 8:00
  an
• 8:00
  accounting
• 8:01
  software
• 8:02
  so
• 8:02
  you
• 8:02
  can
• 8:02
  really
• 8:04
  start
• 8:04
  to
• 8:04
  manage
• 8:04
  your
• 8:05
  books.
• 8:05
  And
• 8:05
  so
• 8:05
  such
• 8:06
  as
• 8:06
  Xero,
• 8:06
  for
• 8:07
  example.
• 8:08
  This
• 8:08
  will
• 8:08
  be
• 8:08
  as
• 8:09
  you,
• 8:09
  as
• 8:09
  you
• 8:09
  start
• 8:09
  scale
• 8:10
  and
• 8:10
  you
• 8:10
  bring
• 8:10
  on
• 8:10
  an
• 8:10
  accountant,
• 8:11
  this
• 8:11
  is
• 8:11
  what
• 8:11
  you'll
• 8:11
  need
• 8:11
  to
• 8:12
  have.
• 8:12
  And
• 8:12
  again,
• 8:12
  this
• 8:13
  is
• 8:13
  something
• 8:13
  where
• 8:13
  you,
• 8:13
  you
• 8:14
  definitely
• 8:14
  need
• 8:14
  to
• 8:14
  then
• 8:14
  have
• 8:14
  a
• 8:14
  separate
• 8:15
  account
• 8:15
  in
• 8:15
  order
• 8:15
  to
• 8:16
  facilitate
• 8:16
  that.
• 8:16
  Yeah,
• 8:17
  I
• 8:17
  do
• 8:17
  think
• 8:18
  that's
• 8:18
  one
• 8:18
  of
• 8:18
  the
• 8:18
  beautiful
• 8:18
  things
• 8:19
  as
• 8:19
  we're
• 8:19
  in
• 8:19
  the
• 8:19
  sort
• 8:20
  of
• 8:20
  more
• 8:20
  digital
• 8:21
  online
• 8:22
  space
• 8:23
  particularly
• 8:24
  I'll
• 8:24
  be
• 8:24
  interested
• 8:24
  to
• 8:24
  see
• 8:25
  what
• 8:25
  happens
• 8:25
  as
• 8:25
  AI
• 8:26
  becomes
• 8:27
  more
• 8:27
  reliable.
• 8:29
  But
• 8:30
  you've
• 8:30
  got
• 8:30
  these
• 8:30
  tools
• 8:31
  that
• 8:31
  can
• 8:32
  track
• 8:32
  things
• 8:32
  for
• 8:32
  you
• 8:32
  automatically.
• 8:33
  And
• 8:33
  as
• 8:33
  we
• 8:33
  were
• 8:33
  talking
• 8:34
  about
• 8:34
  earlier,
• 8:35
  keeping
• 8:35
  your
• 8:35
  time
• 8:36
  really
• 8:37
  focused
• 8:37
  on
• 8:37
  the
• 8:37
  things
• 8:37
  that
• 8:38
  only
• 8:38
  you
• 8:38
  can
• 8:38
  do
• 8:39
  and
• 8:39
  that
• 8:39
  only
• 8:39
  you
• 8:40
  can
• 8:40
  leverage
• 8:40
  is
• 8:41
  so
• 8:41
  important,
• 8:41
  I
• 8:42
  think,
• 8:42
  to
• 8:42
  the
• 8:42
  future
• 8:42
  success
• 8:43
  of
• 8:43
  the
• 8:43
  business.
• 8:44
  Anytime
• 8:44
  you
• 8:45
  can
• 8:45
  pay
• 8:45
  a
• 8:46
  small
• 8:46
  fee,
• 8:46
  as
• 8:47
  you
• 8:47
  say,
• 8:47
  you
• 8:47
  do
• 8:47
  want
• 8:47
  to
• 8:47
  keep
• 8:47
  an
• 8:48
  eye
• 8:48
  on
• 8:48
  those
• 8:48
  fees,
• 8:48
  make
• 8:48
  them
• 8:49
  as
• 8:49
  small
• 8:49
  as
• 8:49
  you
• 8:49
  can,
• 8:49
  but
• 8:49
  a
• 8:49
  small
• 8:50
  fee
• 8:50
  to
• 8:50
  free
• 8:50
  up
• 8:51
  your
• 8:51
  time
• 8:51
  can
• 8:52
  be
• 8:52
  huge
• 8:53
  for
• 8:54
  that
• 8:54
  future
• 8:54
  business
• 8:55
  success,
• 8:55
  right?
• 8:56
  Yeah,
• 8:56
  absolutely.
• 8:57
  And
• 8:57
  the
• 8:57
  great
• 8:57
  thing
• 8:57
  about
• 8:58
  all
• 8:58
  of
• 8:58
  this
• 8:59
  automation
• 9:00
  and
• 9:00
  AI
• 9:01
  advancements
• 9:01
  is
• 9:01
  they're
• 9:02
  starting
• 9:02
  to
• 9:02
  come
• 9:02
  into
• 9:02
  the
• 9:03
  banking
• 9:03
  realm
• 9:03
  now.
• 9:04
  And
• 9:04
  so
• 9:05
  specifically
• 9:05
  for
• 9:05
  businesses
• 9:06
  that's
• 9:06
  going
• 9:06
  to
• 9:07
  really
• 9:07
  transform
• 9:07
  things.
• 9:08
  As
• 9:08
  you
• 9:08
  start
• 9:08
  to
• 9:09
  scale
• 9:09
  up
• 9:09
  and
• 9:10
  you've
• 9:10
  got
• 9:10
  maybe
• 9:10
  more
• 9:10
  and
• 9:11
  more
• 9:11
  transactions,
• 9:11
  you
• 9:11
  need
• 9:12
  to
• 9:12
  start
• 9:12
  coding
• 9:13
  those
• 9:13
  transactions
• 9:14
  so
• 9:14
  they're
• 9:14
  ready
• 9:14
  for.
• 9:14
  Your
• 9:15
  accounts
• 9:15
  are
• 9:15
  pre
• 9:15
  prepared
• 9:16
  in
• 9:16
  products
• 9:17
  like
• 9:17
  Revolut
• 9:17
  Business.
• 9:18
  Now
• 9:18
  we
• 9:18
  do
• 9:18
  that
• 9:18
  automatically
• 9:19
  for
• 9:19
  you.
• 9:19
  We
• 9:19
  leverage
• 9:19
  AI
• 9:20
  to
• 9:20
  make
• 9:20
  that
• 9:20
  work
• 9:20
  or
• 9:21
  things
• 9:21
  like
• 9:21
  snapping
• 9:22
  receipts
• 9:22
  and
• 9:23
  so
• 9:23
  then
• 9:23
  you
• 9:23
  can
• 9:23
  automatically
• 9:24
  link
• 9:24
  it
• 9:24
  to
• 9:24
  a
• 9:24
  transaction
• 9:25
  so
• 9:25
  you
• 9:25
  don't
• 9:25
  have
• 9:26
  to
• 9:26
  go
• 9:26
  and
• 9:26
  do
• 9:26
  all
• 9:26
  of
• 9:26
  that
• 9:27
  synchronization
• 9:28
  later.
• 9:28
  These
• 9:28
  products
• 9:29
  can
• 9:29
  offer
• 9:29
  that
• 9:29
  now,
• 9:30
  such
• 9:30
  as
• 9:30
  ours.
• 9:31
  In
• 9:31
  the
• 9:31
  past
• 9:32
  we've
• 9:32
  kind
• 9:32
  of
• 9:32
  treated,
• 9:33
  you
• 9:33
  know,
• 9:33
  SMEs
• 9:34
  and
• 9:34
  single
• 9:35
  person
• 9:35
  businesses
• 9:36
  like
• 9:36
  they
• 9:36
  need
• 9:36
  to
• 9:37
  have
• 9:37
  a
• 9:37
  basic
• 9:37
  degree
• 9:38
  in
• 9:38
  how
• 9:38
  to
• 9:38
  manage
• 9:38
  a
• 9:38
  bank
• 9:39
  account
• 9:39
  and
• 9:39
  they
• 9:39
  need
• 9:39
  to
• 9:40
  be
• 9:40
  a
• 9:40
  bookkeeper
• 9:40
  in
• 9:40
  a
• 9:41
  way.
• 9:41
  And
• 9:42
  that's
• 9:42
  going
• 9:42
  to
• 9:42
  completely
• 9:43
  change
• 9:43
  as,
• 9:44
  as
• 9:44
  more
• 9:45
  and
• 9:45
  more
• 9:45
  of
• 9:45
  this
• 9:45
  automation
• 9:46
  comes
• 9:46
  in
• 9:46
  and
• 9:46
  actually
• 9:46
  all
• 9:47
  you
• 9:47
  need
• 9:47
  to
• 9:47
  do
• 9:47
  is
• 9:47
  open
• 9:47
  the
• 9:48
  account
• 9:48
  and
• 9:48
  then
• 9:48
  the
• 9:48
  whole
• 9:48
  thing
• 9:48
  kind
• 9:49
  of
• 9:49
  takes
• 9:49
  care
• 9:49
  of
• 9:49
  itself
• 9:50
  for
• 9:50
  you.
• 9:50
  I'm
• 9:51
  fascinated
• 9:51
  by
• 9:52
  this
• 9:52
  and
• 9:52
  where
• 9:53
  things
• 9:53
  could
• 9:53
  go
• 9:54
  in
• 9:54
  the
• 9:54
  future.
• 9:54
  Tell
• 9:54
  me
• 9:55
  a
• 9:55
  bit
• 9:55
  more
• 9:55
  about
• 9:55
  what
• 9:56
  you're
• 9:56
  using
• 9:56
  AI
• 9:57
  for
• 9:58
  currently
• 9:58
  and
• 9:58
  do
• 9:59
  you
• 9:59
  see
• 10:00
  potential
• 10:01
  for
• 10:02
  more
• 10:02
  in
• 10:03
  that
• 10:03
  area?
• 10:03
  Yeah,
• 10:03
  I
• 10:04
  think
• 10:04
  it's
• 10:04
  going
• 10:04
  to
• 10:04
  completely
• 10:04
  transform
• 10:05
  how
• 10:06
  businesses
• 10:06
  interact
• 10:07
  with
• 10:07
  their
• 10:08
  money
• 10:09
  in
• 10:09
  that
• 10:10
  all
• 10:10
  the
• 10:10
  activities
• 10:11
  you
• 10:11
  do
• 10:12
  day
• 10:12
  in,
• 10:12
  day
• 10:12
  out,
• 10:13
  which
• 10:13
  require
• 10:13
  you
• 10:14
  to
• 10:14
  do
• 10:14
  some
• 10:14
  manual
• 10:14
  repetitive
• 10:15
  work
• 10:15
  such
• 10:15
  as
• 10:16
  uploading
• 10:17
  receipts
• 10:17
  and
• 10:17
  match
• 10:18
  them
• 10:18
  to
• 10:18
  transactions
• 10:19
  such
• 10:19
  as
• 10:20
  pulling
• 10:20
  in
• 10:21
  bills
• 10:22
  that
• 10:22
  you
• 10:22
  need
• 10:22
  to
• 10:22
  pay
• 10:23
  and
• 10:23
  then
• 10:23
  pre
• 10:24
  populating
• 10:24
  payments.
• 10:25
  I
• 10:25
  mean
• 10:25
  even
• 10:25
  things
• 10:25
  as
• 10:26
  simple
• 10:26
  as
• 10:26
  typing
• 10:26
  in
• 10:27
  the
• 10:27
  amount
• 10:28
  in
• 10:28
  your
• 10:28
  banking
• 10:28
  platform
• 10:29
  you
• 10:29
  need
• 10:29
  to
• 10:29
  pay,
• 10:29
  why
• 10:29
  should
• 10:30
  you
• 10:30
  have
• 10:30
  to
• 10:30
  type
• 10:30
  it
• 10:30
  in?
• 10:31
  Like
• 10:31
  if
• 10:31
  you
• 10:31
  have
• 10:31
  a
• 10:31
  bill
• 10:32
  already
• 10:32
  that
• 10:33
  should
• 10:33
  all
• 10:33
  be
• 10:33
  predefined
• 10:34
  for
• 10:34
  you.
• 10:34
  You
• 10:34
  should
• 10:35
  just
• 10:35
  be
• 10:35
  reviewing
• 10:35
  and
• 10:35
  clicking.
• 10:36
  Yeah,
• 10:36
  go
• 10:37
  for
• 10:37
  it.
• 10:37
  And
• 10:37
  I
• 10:37
  think
• 10:38
  we
• 10:38
  will
• 10:39
  look
• 10:39
  at
• 10:39
  our
• 10:40
  bank
• 10:40
  accounts
• 10:41
  in.
• 10:41
  Businesses
• 10:42
  will
• 10:42
  be
• 10:42
  looking
• 10:42
  at
• 10:42
  their
• 10:42
  bank
• 10:42
  accounts
• 10:43
  in
• 10:43
  five
• 10:43
  years
• 10:43
  time
• 10:44
  and
• 10:44
  it
• 10:44
  will
• 10:44
  feel
• 10:44
  like
• 10:45
  a
• 10:45
  product
• 10:45
  that's
• 10:45
  in
• 10:45
  the
• 10:46
  21st
• 10:46
  century,
• 10:47
  whereas
• 10:47
  today
• 10:48
  it
• 10:48
  really
• 10:48
  feels
• 10:49
  like
• 10:49
  we're
• 10:49
  still
• 10:50
  in
• 10:50
  2005.
• 10:51
  You
• 10:51
  know,
• 10:51
  you
• 10:51
  are
• 10:51
  the
• 10:52
  one
• 10:52
  having
• 10:52
  to
• 10:52
  do
• 10:53
  everything
• 10:54
  and
• 10:54
  I
• 10:54
  think
• 10:54
  you'll
• 10:55
  have
• 10:55
  a
• 10:55
  lot
• 10:55
  more
• 10:55
  assistance
• 10:56
  in
• 10:57
  the
• 10:57
  products
• 10:58
  of
• 10:58
  the
• 10:58
  future.
• 10:58
  It's
• 10:59
  so
• 10:59
  interesting
• 10:59
  because
• 10:59
  I
• 11:00
  was
• 11:00
  just
• 11:00
  literally
• 11:01
  talking
• 11:01
  to
• 11:01
  someone
• 11:02
  about
• 11:02
  this
• 11:02
  an
• 11:02
  hour
• 11:03
  ago
• 11:04
  where
• 11:04
  I
• 11:04
  was
• 11:04
  saying
• 11:05
  I
• 11:05
  love
• 11:06
  doing
• 11:06
  my
• 11:06
  business,
• 11:07
  I
• 11:07
  don't
• 11:07
  necessarily
• 11:08
  love
• 11:08
  running
• 11:09
  my
• 11:09
  business
• 11:10
  and
• 11:10
  I
• 11:11
  think
• 11:11
  a
• 11:11
  lot
• 11:11
  of
• 11:11
  small
• 11:11
  business
• 11:12
  owners
• 11:12
  feel
• 11:12
  that
• 11:12
  way.
• 11:12
  You
• 11:13
  get
• 11:13
  into
• 11:13
  an
• 11:13
  area
• 11:14
  because
• 11:14
  you
• 11:14
  find
• 11:15
  it
• 11:15
  really
• 11:16
  interesting,
• 11:16
  you
• 11:16
  like
• 11:17
  the
• 11:17
  work,
• 11:17
  you
• 11:17
  start
• 11:17
  pushing
• 11:18
  for
• 11:18
  it
• 11:18
  hard
• 11:18
  and
• 11:18
  you're
• 11:18
  like,
• 11:18
  I
• 11:19
  could
• 11:19
  do
• 11:19
  a
• 11:19
  career
• 11:19
  of
• 11:19
  this.
• 11:19
  Great.
• 11:20
  And
• 11:20
  then
• 11:20
  the
• 11:20
  actual
• 11:21
  running
• 11:21
  of
• 11:21
  it,
• 11:21
  like
• 11:22
  you
• 11:22
  say,
• 11:22
  becoming
• 11:22
  an
• 11:22
  accountant,
• 11:24
  not.
• 11:24
  What
• 11:24
  I'm
• 11:24
  here
• 11:24
  for.
• 11:24
  No
• 11:25
  one
• 11:25
  became
• 11:25
  a
• 11:26
  graphic
• 11:26
  designer
• 11:26
  because
• 11:27
  they
• 11:27
  wanted
• 11:27
  to
• 11:27
  become
• 11:27
  a
• 11:27
  bookkeeper.
• 11:28
  They
• 11:29
  wanted
• 11:29
  to
• 11:29
  be
• 11:29
  a
• 11:29
  graphic
• 11:30
  designer.
• 11:30
  So
• 11:30
  I
• 11:30
  think
• 11:31
  that's
• 11:31
  our
• 11:32
  job,
• 11:32
  is
• 11:32
  to
• 11:32
  take
• 11:32
  away
• 11:33
  all
• 11:33
  that
• 11:33
  hassle
• 11:33
  from
• 11:33
  customers
• 11:34
  so
• 11:34
  they
• 11:34
  can
• 11:34
  focus
• 11:35
  on
• 11:35
  what
• 11:35
  their
• 11:35
  business
• 11:36
  is
• 11:36
  and
• 11:37
  we
• 11:37
  can
• 11:37
  make
• 11:37
  that
• 11:37
  as
• 11:37
  easy
• 11:37
  as
• 11:38
  possible
• 11:38
  for
• 11:38
  them.
• 11:38
  So
• 11:39
  when
• 11:39
  this
• 11:39
  person
• 11:39
  is
• 11:40
  saying,
• 11:40
  you
• 11:40
  know,
• 11:41
  I'm
• 11:41
  not
• 11:41
  a
• 11:41
  numbers
• 11:42
  person,
• 11:42
  that
• 11:43
  to
• 11:43
  me
• 11:43
  I'm
• 11:43
  getting
• 11:44
  a
• 11:44
  little
• 11:44
  hint
• 11:44
  of
• 11:44
  an
• 11:44
  overwhelm.
• 11:45
  So
• 11:46
  for
• 11:47
  someone
• 11:47
  who
• 11:47
  is
• 11:47
  feeling
• 11:48
  that
• 11:48
  way,
• 11:49
  how
• 11:49
  do
• 11:50
  we
• 11:50
  make
• 11:50
  this
• 11:50
  process
• 11:51
  more
• 11:51
  manageable
• 11:51
  and
• 11:52
  less
• 11:52
  overwhelming?
• 11:53
  If
• 11:53
  you
• 11:53
  get
• 11:53
  overwhelmed
• 11:54
  by
• 11:54
  the
• 11:55
  thought
• 11:55
  of
• 11:55
  all
• 11:55
  of
• 11:55
  this,
• 11:56
  then
• 11:56
  that
• 11:56
  probably
• 11:56
  means
• 11:57
  that
• 11:57
  you
• 11:57
  should
• 11:57
  be
• 11:57
  separating
• 11:58
  things
• 11:58
  sooner
• 11:58
  rather
• 11:59
  than
• 11:59
  later
• 11:59
  because
• 12:00
  then
• 12:00
  you
• 12:00
  don't
• 12:00
  have
• 12:00
  to
• 12:00
  think
• 12:01
  about
• 12:01
  where
• 12:01
  the
• 12:02
  transactions
• 12:02
  are
• 12:02
  happening
• 12:03
  and
• 12:03
  where
• 12:03
  your
• 12:04
  receipts
• 12:04
  are.
• 12:05
  It's
• 12:05
  sorted
• 12:05
  from
• 12:06
  day
• 12:06
  one.
• 12:06
  So
• 12:07
  my
• 12:07
  advice
• 12:07
  would
• 12:07
  be
• 12:08
  if
• 12:08
  you
• 12:08
  feel
• 12:08
  overwhelmed
• 12:08
  by
• 12:09
  numbers,
• 12:09
  if
• 12:09
  you
• 12:09
  feel
• 12:09
  overwhelmed
• 12:10
  by
• 12:10
  banking,
• 12:11
  probably
• 12:11
  separating
• 12:12
  things
• 12:12
  earlier
• 12:12
  rather
• 12:12
  than
• 12:13
  later
• 12:13
  is
• 12:14
  the
• 12:14
  right
• 12:14
  thing
• 12:14
  to
• 12:14
  do.
• 12:15
  Speaking
• 12:15
  of
• 12:15
  being
• 12:16
  stuck
• 12:16
  back
• 12:16
  in
• 12:16
  2005
• 12:17
  in
• 12:18
  New
• 12:18
  Zealand,
• 12:18
  we
• 12:18
  only
• 12:18
  just
• 12:19
  bought
• 12:19
  an
• 12:19
  open
• 12:19
  banking
• 12:20
  tail
• 12:20
  end
• 12:21
  of
• 12:21
  last
• 12:21
  year.
• 12:22
  Wild.
• 12:24
  We're
• 12:24
  living
• 12:25
  in
• 12:25
  the
• 12:25
  future,
• 12:25
  folks.
• 12:27
  But
• 12:27
  has
• 12:27
  that
• 12:28
  changed
• 12:28
  what
• 12:29
  businesses
• 12:29
  like
• 12:29
  yourself
• 12:30
  can
• 12:30
  offer?
• 12:30
  Has
• 12:31
  that
• 12:31
  changed
• 12:31
  the
• 12:31
  game
• 12:32
  for
• 12:32
  you?
• 12:32
  Yeah,
• 12:33
  I
• 12:33
  mean,
• 12:33
  what's
• 12:33
  interesting
• 12:34
  is
• 12:34
  in
• 12:34
  New
• 12:35
  Zealand,
• 12:35
  so
• 12:35
  I'm
• 12:36
  British,
• 12:36
  as
• 12:36
  you
• 12:36
  maybe
• 12:36
  can
• 12:37
  tell,
• 12:37
  the
• 12:37
  offerings
• 12:37
  to
• 12:38
  customers
• 12:38
  kind
• 12:38
  of
• 12:38
  reminds
• 12:39
  me
• 12:39
  of
• 12:39
  where
• 12:39
  the
• 12:39
  UK
• 12:39
  was
• 12:40
  about
• 12:40
  10
• 12:40
  years
• 12:40
  ago
• 12:41
  in
• 12:41
  that
• 12:42
  it's
• 12:42
  pretty
• 12:43
  dominated
• 12:43
  by
• 12:44
  incumbents.
• 12:45
  There
• 12:45
  hasn't
• 12:46
  been
• 12:46
  a
• 12:46
  huge
• 12:46
  amount
• 12:46
  of
• 12:47
  progress.
• 12:47
  There's
• 12:47
  some
• 12:47
  great
• 12:48
  signs
• 12:48
  and
• 12:48
  some
• 12:48
  good
• 12:49
  tech
• 12:49
  companies
• 12:49
  coming
• 12:49
  along,
• 12:50
  but
• 12:50
  not
• 12:50
  a
• 12:50
  huge
• 12:50
  amount
• 12:50
  of
• 12:50
  progress.
• 12:51
  And
• 12:51
  I
• 12:51
  think
• 12:52
  we
• 12:52
  see
• 12:52
  over
• 12:52
  the
• 12:52
  next
• 12:53
  10
• 12:53
  years
• 12:53
  is
• 12:53
  really
• 12:54
  a
• 12:54
  significant
• 12:54
  change
• 12:55
  in
• 12:55
  terms
• 12:56
  of
• 12:56
  what
• 12:57
  is
• 12:58
  acceptable
• 12:59
  to
• 13:00
  customers.
• 13:00
  There'll
• 13:01
  be
• 13:01
  a
• 13:01
  lot
• 13:01
  more
• 13:01
  digitization
• 13:02
  of
• 13:02
  these
• 13:03
  products.
• 13:03
  Fees
• 13:04
  will
• 13:04
  start
• 13:04
  to
• 13:04
  come
• 13:04
  down
• 13:04
  more.
• 13:05
  There'll
• 13:05
  be
• 13:05
  more
• 13:05
  choice
• 13:06
  for
• 13:06
  businesses,
• 13:07
  which
• 13:07
  I
• 13:07
  think
• 13:07
  is
• 13:08
  only
• 13:08
  going
• 13:08
  to
• 13:08
  be
• 13:08
  a
• 13:08
  good
• 13:08
  thing.
• 13:09
  Yeah,
• 13:09
  I
• 13:10
  know.
• 13:10
  I
• 13:10
  love
• 13:10
  that
• 13:11
  we're
• 13:11
  getting
• 13:11
  already
• 13:12
  more
• 13:12
  competition.
• 13:13
  I
• 13:13
  just
• 13:13
  think
• 13:13
  it's
• 13:14
  really
• 13:14
  great
• 13:14
  and
• 13:14
  it
• 13:14
  really
• 13:15
  works
• 13:15
  out
• 13:15
  for
• 13:15
  people.
• 13:16
  Look
• 13:16
  for
• 13:16
  this
• 13:17
  letter
• 13:17
  writer.
• 13:17
  If
• 13:18
  things
• 13:18
  do
• 13:18
  keep
• 13:18
  growing,
• 13:19
  we
• 13:19
  really
• 13:19
  hope.
• 13:19
  It
• 13:19
  sounds
• 13:20
  like
• 13:20
  she's
• 13:20
  on
• 13:20
  a
• 13:20
  great
• 13:20
  track.
• 13:21
  Is
• 13:21
  there
• 13:22
  anything
• 13:22
  else
• 13:22
  that
• 13:22
  she
• 13:23
  should
• 13:23
  be
• 13:23
  thinking
• 13:23
  about
• 13:23
  in
• 13:24
  terms
• 13:24
  of
• 13:24
  having
• 13:24
  that
• 13:24
  good
• 13:25
  visibility
• 13:26
  now
• 13:26
  and
• 13:27
  any
• 13:27
  systems
• 13:27
  that
• 13:27
  she
• 13:28
  should
• 13:28
  be
• 13:28
  thinking
• 13:28
  about
• 13:28
  potentially
• 13:29
  bringing
• 13:30
  in
• 13:30
  in
• 13:30
  the
• 13:30
  future
• 13:30
  if
• 13:30
  she
• 13:30
  keeps
• 13:31
  hitting
• 13:31
  that
• 13:31
  upward
• 13:31
  curve?
• 13:33
  Well,
• 13:33
  I
• 13:34
  as
• 13:34
  from
• 13:34
  speaking
• 13:34
  to
• 13:35
  a
• 13:35
  lot
• 13:35
  of
• 13:35
  Kiwi
• 13:36
  businesses
• 13:36
  this
• 13:36
  week,
• 13:36
  I
• 13:37
  know
• 13:37
  that
• 13:37
  expansion
• 13:38
  Beyond
• 13:39
  New
• 13:39
  Zealand
• 13:39
  is
• 13:40
  something
• 13:40
  that's
• 13:40
  kind
• 13:40
  of
• 13:41
  hot
• 13:41
  on
• 13:42
  a
• 13:42
  lot
• 13:42
  of
• 13:42
  people's
• 13:43
  minds
• 13:43
  and
• 13:43
  particularly
• 13:44
  moving
• 13:44
  into
• 13:44
  Australia
• 13:45
  or
• 13:46
  into
• 13:46
  Europe
• 13:47
  as
• 13:47
  well.
• 13:48
  And
• 13:48
  in
• 13:48
  fact,
• 13:48
  from
• 13:48
  our
• 13:49
  customer
• 13:49
  base
• 13:49
  in
• 13:50
  the
• 13:51
  UK
• 13:51
  and
• 13:51
  Europe,
• 13:52
  we
• 13:52
  know
• 13:52
  there's
• 13:53
  a
• 13:53
  lot
• 13:53
  of
• 13:53
  those
• 13:53
  businesses
• 13:54
  that
• 13:54
  have
• 13:54
  then
• 13:55
  other
• 13:55
  business,
• 13:56
  you
• 13:56
  know,
• 13:56
  subsidiaries
• 13:57
  or
• 13:57
  parent
• 13:58
  companies
• 13:58
  that
• 13:58
  are
• 13:59
  in
• 13:59
  New
• 13:59
  Zealand
• 13:59
  and
• 14:00
  Australia.
• 14:01
  So
• 14:01
  that
• 14:01
  may
• 14:01
  seem
• 14:01
  like
• 14:01
  a
• 14:02
  long
• 14:02
  way
• 14:02
  off,
• 14:02
  but
• 14:02
  for
• 14:02
  a
• 14:02
  lot
• 14:03
  of
• 14:03
  businesses
• 14:03
  I've
• 14:03
  been
• 14:03
  speaking
• 14:04
  to,
• 14:04
  they're
• 14:04
  already
• 14:05
  starting
• 14:05
  to
• 14:05
  set
• 14:05
  up
• 14:06
  second
• 14:07
  companies
• 14:07
  in
• 14:07
  either
• 14:08
  Australia
• 14:08
  or
• 14:08
  the
• 14:08
  UK
• 14:09
  being
• 14:09
  the
• 14:09
  two
• 14:09
  or
• 14:10
  the
• 14:10
  US
• 14:10
  in
• 14:10
  many
• 14:11
  cases.
• 14:11
  If
• 14:12
  your
• 14:12
  writer
• 14:12
  is
• 14:12
  starting
• 14:13
  to
• 14:13
  say
• 14:13
  they're
• 14:14
  going
• 14:14
  to
• 14:14
  be
• 14:14
  opening
• 14:15
  second
• 14:15
  entities
• 14:16
  in
• 14:16
  these
• 14:16
  countries,
• 14:16
  then
• 14:17
  thinking
• 14:17
  about
• 14:17
  opening
• 14:18
  bank
• 14:18
  accounts
• 14:18
  there
• 14:18
  as
• 14:18
  well
• 14:19
  is
• 14:19
  going
• 14:19
  to
• 14:19
  be
• 14:19
  the
• 14:19
  natural
• 14:20
  extension
• 14:20
  of
• 14:20
  that.
• 14:21
  And
• 14:21
  the
• 14:21
  great
• 14:21
  thing
• 14:21
  about
• 14:21
  Revolut
• 14:22
  business
• 14:22
  is
• 14:22
  you
• 14:22
  can
• 14:23
  manage
• 14:23
  all
• 14:24
  of
• 14:24
  these
• 14:24
  accounts
• 14:24
  on
• 14:24
  one
• 14:25
  platform
• 14:25
  in
• 14:25
  one
• 14:25
  place.
• 14:26
  I
• 14:26
  would
• 14:26
  say
• 14:27
  expanding
• 14:28
  overseas
• 14:28
  and
• 14:28
  then
• 14:29
  having
• 14:30
  a
• 14:30
  kind
• 14:30
  of
• 14:30
  banking
• 14:31
  partner
• 14:31
  that
• 14:31
  you
• 14:31
  can
• 14:32
  scale
• 14:32
  with
• 14:32
  for
• 14:32
  that
• 14:32
  is
• 14:32
  going
• 14:33
  to
• 14:33
  be
• 14:33
  crucial.
• 14:33
  Getting
• 14:34
  the
• 14:34
  infrastructure
• 14:34
  ready
• 14:35
  from
• 14:35
  the
• 14:35
  get
• 14:35
  go.
• 14:35
  Get
• 14:35
  the
• 14:35
  infrastructure
• 14:36
  ready
• 14:36
  from
• 14:36
  the
• 14:36
  get
• 14:36
  go.
• 14:37
  Exactly.
• 14:37
  Love
• 14:37
  it.
• 14:38
  Thank
• 14:38
  you
• 14:38
  so
• 14:38
  much,
• 14:38
  James
• 14:39
  Gibson
• 14:39
  from
• 14:39
  Revolut
• 14:40
  Business.
• 14:40
  Now,
• 14:40
  I
• 14:40
  know
• 14:40
  we've
• 14:41
  got
• 14:41
  a
• 14:41
  lot
• 14:41
  of
• 14:41
  side
• 14:42
  hustlers
• 14:42
  on
• 14:42
  this
• 14:43
  channel,
• 14:43
  so
• 14:43
  if
• 14:43
  you
• 14:43
  have
• 14:43
  more
• 14:44
  questions
• 14:44
  along
• 14:44
  these
• 14:45
  lines,
• 14:45
  send
• 14:46
  them
• 14:46
  to
• 14:46
  us.
• 14:46
  We
• 14:46
  can
• 14:46
  do
• 14:46
  a
• 14:47
  deep
• 14:47
  dive
• 14:47
  for
• 14:47
  you.
• 14:48
  Ask
• 14:49
  Francisco
• 14:50
  Co
• 14:50
  NZ
• 14:50
  is
• 14:50
  the
• 14:51
  email
• 14:51
  to
• 14:51
  send
• 14:51
  it
• 14:51
  to.
• 14:51
  We'll
• 14:52
  make
• 14:52
  sure
• 14:52
  it's
• 14:52
  on
• 14:52
  the
• 14:52
  screen
• 14:52
  and
• 14:53
  in
• 14:53
  the
• 14:53
  show
• 14:53
  notes
• 14:53
  and
• 14:54
  all
• 14:54
  that
• 14:54
  good
• 14:54
  stuff
• 14:54
  too.
• 14:55
  Until
• 14:55
  next
• 14:55
  time,
• 14:56
  have
• 14:56
  a
• 14:56
  great
• 14:56
  day.
• 14:59
  This
• 14:59
  podcast
• 14:59
  can
• 14:59
  only
• 15:00
  give
• 15:00
  you
• 15:00
  general
• 15:00
  information
• 15:01
  about
• 15:01
  how
• 15:01
  things
• 15:02
  work
• 15:02
  in
• 15:02
  most
• 15:03
  situations.
• 15:04
  It's
• 15:04
  not
• 15:04
  individual
• 15:05
  financial
• 15:05
  advice.
• 15:06
  If
• 15:06
  you're
• 15:07
  after
• 15:07
  that,
• 15:07
  a
• 15:07
  financial
• 15:08
  advisor
• 15:08
  is
• 15:09
  always
• 15:09
  the
• 15:09
  best
• 15:09
  bet.