The more money in your hands, the more positive impact on the world.

If you’ve ever felt conflicted about making money in your business or unsure about what to charge, this episode is for you.

In Today on Money Secrets, we’re joined by Renee Wallace, founder of Cultivate Assembly and a much-loved member of Good Money Club. A multi-passionate entrepreneur with deep roots in small business, creativity, and hospitality, Renee shares her journey of shifting from passion over profit to fully embracing the idea that money does good.

Listen to Episode 6

What You’ll Learn in This Episode

Money does Good: Making money in your business allows you to create a bigger impact and support the people and causes you care about.
Passion and Profit can Coexist: It’s possible to fuel your creativity and mission while also ensuring your business is financially sustainable.
Success is Personal: What success looks like changes over time—redefining it on your terms is key to long-term fulfilment.
Charge your Worth: Raising prices and valuing your work leads to better business decisions and stronger client relationships.
The Right People Matter: Surrounding yourself with aligned collaborators and financial mentors helps you make informed, empowered choices.

Transcript: Money Does Good: Interview with Renee Wallace

Money Secrets Podcast – Episode 6

Introduction

We've made a lot of progress as a society in many areas, but one thing that hasn’t changed enough is our relationship with money. If we want to tip the scales in favour of marginalised people, we need to understand the secrets to making money in small business.

The more we talk about money — especially the secrets that usually stay behind closed doors or on the golf course — the more empowered we become. My mission is to get more money into the hands of good people, specifically business owners like you.

Because I believe small business can change the world. And to do that, we need to be making more money.

Acknowledgement of Country

This episode was recorded on the lands of the Wurundjeri People of the Kulin Nation. I’d like to acknowledge them as the Traditional Owners and custodians of this land and water that I live, work and play on.

I pay my respects to Elders past and present, and recognise that sovereignty has never been ceded. This always was, and always will be, Aboriginal and Torres Strait Islander land.

Lifting the Curtain on Money

Host Fi Johnston opens this episode of Money Secrets by reflecting on the inspiration behind her mini-documentary Lifting the Curtain, where eight women in business shared honest answers to taboo money questions. One of those women was Renee Wallace, founder of Birch Store and Cultivate Assembly.

Meet Renee Wallace

Renee is a multi-passionate, creative business owner whose work spans hospitality, retail, and brand strategy. She's the “lead trombone” behind Birch and Cultivate Assembly and is known for her commitment to impact-driven business and heartfelt creativity.

Fi and Renee worked together 1:1 for six months, and Renee is now a cherished member of Good Money Club.

Collaboration as a Catalyst

Renee credits her business growth to the people she surrounds herself with—those she collaborates with, learns from, and is inspired by. She draws insights from others’ experiences and uses that as motivation to think differently in her own work.

Revenue Without a Paycheck

Renee’s businesses made over $500,000 in revenue last financial year—but she didn’t pay herself a cent. While she doesn’t view this as either good or bad, she calls it “a catalyst for change.” It's one of the reasons she’s committed to shifting how she values herself in business.

Money, Passion, and Perspective

Having run several businesses over the years, Renee now views value and success through a different lens—less about hustle and more about intention.

“If I get passionate about something, I go wholehearted in. And sometimes I don't think about the consequences until I’m well down the path.”

She’s now focused on aligning her values and experiences with more intentional decisions about how and when she gets paid.

Good Money Club

Are you a female or LGBTQIA+ business owner who wants to make more money and create meaningful change? My 6-month program, Good Money Club, is designed to help you do exactly that.

We work on your pricing, positioning, business model, and mindset — so you can build your bank account and your impact. Read more about Good Money Club.

Rethinking Success

Asked whether she considers herself a successful business owner, Renee reflects:

“If I was a man sitting here, that would be financially driven. But as a woman, I see it as a balanced thing… making impact on people—that’s how I define success.”

The Cost of the Wrong People

One of Renee’s biggest money mistakes? Not choosing the right people at the right time. She says not being specific enough about expectations with team members or collaborators led to costly missteps. That’s a lesson she’s taken forward.

Challenging the Hard Work Myth

The biggest lie Renee was told about money?

“Work harder and you will make more.”
She shares that growing up and early in her business journey, she believed effort alone equalled income. She now knows better.

Learning to Let Go of Expectations

Renee shares that she once had high hopes for how much money her hospitality business would generate in its early years—but real life, and life’s interruptions, had other plans.
Now, instead of tying financial expectations to timeframes, she evaluates each business decision based on whether it’s profitable and aligned.

Slowing Down and Feeling the Shift

Slowing down her business brought up emotional challenges, but ultimately clarity. Renee shares that it created space to reflect on what she really wants—and how to be more deliberate about building toward it.

Money Lessons Without Shame

Despite setbacks, Renee doesn’t feel ashamed or silly about past money decisions. Instead, she values what she’s learned and is focused on doing better in future.

Managing Money Practically

Renee’s money management has shifted significantly. With Fi’s guidance, she now operates with more clarity, confidence, and control.

“We make better decisions about what we buy, what we charge, and who we work with.”

She even has a profit account for the first time.

Raising Prices and Owning Value

Asking for money doesn’t feel difficult anymore. Renee shares that transparent, values-aligned relationships with clients lead to smoother payment conversations. And yes—she’s raised her prices, too.

“It feels really good to do that, and no one questions it.”

A Complex Relationship with Money

When asked if she’s comfortable with money, Renee jokes:

“It’s like a sibling you have to put up with—love on Christmas Day and detest the rest of the year.”

Money as a Force for Good

Renee’s best advice?

“Money does good. Money makes impact. Money gives you opportunity. And you don't need to be afraid of money.”

Fi echoes this with her own belief:

“Income is impact. If you're a small business owner committed to making the world better, more money in your hands means more positive change.”

Final Thoughts

Renee’s story is one of creativity, realignment, and rediscovery. If you're navigating your own evolving relationship with money, success, or sustainability—her insights will land close to home.

Outro

Thank you for listening to Money Secrets. If you loved this episode, please subscribe, share it with a friend, or leave a review. Your support helps us get these conversations into the hands of more good people who deserve to thrive in business.

We’ve come so far as a society in many ways, but money is one of the areas where progress hasn’t been enough. If we want to tip the scales in favour of marginalised people, it starts with understanding the secret: money in small business.

In this podcast, Money Secrets, host Fiona (Fi) Johnston—Chartered Accountant, small business advocate, and impact enthusiast—dives into the conversations we need to have about money. The secrets that once stayed behind closed doors (or on the golf course) are finally out in the open.

Fi’s mission? To get more money into the hands of good people, like you. She believes small businesses have the power to change the world, and the key to making a bigger impact is to make—and manage—more money.

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Thank you to everyone involved for bringing this podcast together. We are excited to hear from you with any questions, feedback or suggestions for future episodes that you might have. Send a Direct Message to @peach.business

If you are excited for what’s to come, please like this episode, follow the podcast and share it with your friends. We are thrilled you're here.

Want to find out more about Good Money Club? It's for female and non-binary business owners ready to make more money and impact. Join us?

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