Episode 99: How Loving Her Numbers Took Nicole Barham from Bankruptcy to Multiple Six Figures

 

In Episode 99 of The Business Habitat podcast, Sam continues her Love Your Number Series in conversation with Nicole Barham, CEO and Finance Coach with Design Your Wealth, and creator of the 5 Minute Bookkeeper.

Nicole designed The 5 Minute Bookkeeper as a means to help small business people and entrepreneurs get on top of their finances. Recognising that numbers can sometimes be overwhelming, Nicole set out to bridge the gap in the start-up phase, when resources are stretched and a dedicated bookkeeper may not be justified.  Nicole is passionate about building a community for entrepreneurs in particular, to create an environment which enhances productivity and removes procrastination.

In this podcast Nicole shares her story of financial challenges in her first business some 6 years ago, where she declared bankruptcy. Coming from a background in Affiliate Marketing, Nicole learned from her financial setback and discovered a niche in the market for people just starting out. In a world where most people would rather visit their dentist than their accountant, Nicole has found a way to help business owners overcome their hesitation with numbers and embrace their financial journey.

Having grown her business from zero in 2020 to now turning over multiple six figures, Nicole knows what she’s talking about when it comes to knowing her numbers, finding her niche and making it work. With Sam’s background in Accounting and helping businesses grow, together they have a compelling conversation about the benefits of loving your numbers that you won’t want to miss.

Listen to an excerpt

What we cover in this episode

  • How Nicole found a gap in the market

  • Helping small business people, entrepreneurs and start-ups getting in control of their numbers

  • Nicole’s model for doing more at scale

  • Building a community of entrepreneurs

  • Focussing on one business stream at a time

  • Having a “money date”

  • Sticking with your niche

  • Scaling your business with robust systems and low touch

Quotes

“Not paying attention to my numbers meant, about 6 or 7 years ago, my first business went bankrupt“ - Nicole

“I had to learn, for my own systems and processes, how to change and how to not burn out in this world that we live in, in an expert business“ - Sam

“If you don’t know your numbers, you can’t call yourself a business owner” - Sam

“It’s a training ground for being comfortable with your numbers, so when you’re meeting with your accountant or your bookkeeper, you don’t have to feel intimidated or you don’t have to feel like you don’t know what they’re talking about. It’s a great way to start out to get intimate with your numbers, and that’s why we called in Money Dates” - Nicole

“Find your one thing, because if you’re all over the place, then people will be confused they’re not sure, and a confused customer does not buy“ - Nicole

“The riches is in the niches” - Nicole

Links mentioned

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Episode 100: Scaling Your Business Through Alignment and Support, with Eleanor Beaton

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Episode 98: Building Better Relationships with Yourself and Others by Aligning Your Body and Nervous System with Jay Fields