Grow your startup

An entrepreneur who gave up a secure, well-paid job to do her own thing shares her tips and knowledge for turning a great idea into a successful business

- SERINA BIRD

If you are running a business, money is going to be at the core of what you do. Even if you are so passionate about your "why" that money isn't your motivation, you will need money coming in to have a sustainable business. When you are attracting sufficient money, it enables you to implement what you feel soul-called to do. And even if you are incorporated as a not-forprofit organisation, you won't be able to continue to exist if you can't show your supporters that you are good at managing money.

Yet there is so much reluctance to talk about money - something that I am passionate about overcoming in my work in The Joyful Frugalista podcast. Spiritual life and business coach Bec Cuzzillo notes that money isn't something we need to be afraid of.

"The more we talk about it, the more it is normalised," she says. "You can earn money doing what you love. You can earn money doing something that fills your heart with purpose. You don't have to hustle hard. And you don't have to sell your soul."

Prepare a financial buffer

Some people are great at starting a business and earning money straight away, but most aren't. And it's unrealistic to put pressure on yourself to be earning money from the beginning if you don't have to. It's good to have the drive and ambition (you'll need it), but it's far better to save up before you start. Unexpected things can happen, and it's better to be prepared.

I had almost paid off the mortgage, hubby was in a stable job, I had good superannuation and four freelance writing clients when I decided to do the almost unthinkable and quit a stable and sought-after job in Canberra in October 2019. I also had a stream of positively geared income from an Airbnb unit and hosted guests at home occasionally, and I had been sounded out about a more substantial opportunity.