Psst! Want to hear a money secret? Backing yourself matters more than being right, here is why. If you’ve ever second-guessed a pricing change, spiralled after a spend, or stalled on a big decision out of fear of getting it wrong, this one’s for you.

In this episode of *Money Secrets*, Fi shares a juicy mindset shift that could transform the way you make financial decisions in your business: what if backing yourself matters more than always getting it “right”?

Listen to Episode 24

What You’ll Learn in This Episode

Why “backing yourself” matters more than being right. We all want to make the “right” financial decision—but trusting your gut and backing your calls is actually more powerful for long-term business growth.
The hidden cost of indecision.. Taking weeks (or months!) to make a call is already costing you money. Fi shares how speed and clarity are crucial to momentum.
What to do after a decision doesn’t go to plan. Regret and backtracking drain your energy—Fi walks you through how to assess your approach instead of spiralling into self-doubt.
How to build your decision-making muscle. The more you trust yourself, the faster and better your decisions become. It’s a skill, not a personality trait.
Your next best move isn’t perfect—it’s just the next one. You don’t need a perfect plan to act. You just need a clear intention and the willingness to see it through.
Trust builds confidence. When you back yourself consistently, you create a business that reflects your leadership—not your second-guessing.

Back Yourself and Your Financial Decisions (Ep#24)

Money Secrets Podcast – Episode 24

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.

Why Backing Yourself Matters More Than Making the “Right” Financial Decision

As a small business owner, you are making financial decisions constantly.

Every day you decide:

What to charge
How much to spend on marketing
Which clients to work with
Whether to chase an unpaid invoice
When to invest, hire, or pivot

And with so many decisions stacking up, it’s easy to become paralysed by the pressure to get everything “right.”

In this episode of Money Secrets, Fi Johnston argues something surprising:

It’s more important to back yourself than to make the perfect decision.

Small Business Is a Series of Financial Decisions

Running a business isn’t just about delivering services or products.

It’s about decision-making under uncertainty.

From pricing changes to growth investments, business owners must regularly act without complete information — and often under time pressure.

The volume alone can be overwhelming.

And when decisions pile up, they don’t just affect your business.
They affect your sleep, your stress levels, and your confidence.

Speed Is a Marker of Strong Financial Decisions

One of Fi’s key insights is that great financial decisions are made quickly.

Not recklessly — but efficiently.

When decisions drag on for weeks or months, the hidden cost is lost opportunity.

For example:

If it takes six months to decide to increase your prices, you’ve lost six months of higher revenue — plus the learning you could have gained from testing sooner.

Perfectionism often costs more than imperfection.

Why Overthinking Costs Money

Delays usually stem from:

Self-doubt
Lack of confidence
Fear of being wrong
Not having trusted advisors
Trying to eliminate all risk

But in business, waiting for certainty is rarely realistic.

By the time you feel “ready,” the opportunity may have passed.

Why Backing Yourself Matters More Than Being Right

Fi emphasises that business owners will inevitably make imperfect decisions.

Your energy levels, mood, available information, and external circumstances all influence your judgement.

No one operates in perfect conditions all the time.

What matters is not flawless accuracy — it’s forward momentum.

Backing yourself means:

Trusting your judgement in the moment
Accepting imperfect outcomes
Learning from results instead of undoing decisions
Preserving confidence for future decisions

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.

The Hidden Danger of Backtracking

Constantly revisiting past decisions has a deeper psychological cost.

When you undo decisions repeatedly, you teach yourself:

“My judgement isn’t trustworthy.”

This makes future decisions even harder.

Instead of moving forward, you become stuck in a loop of second-guessing.

And that loop drains time, energy, and confidence.

A Better Approach: Evaluate the Process, Not the Outcome

Rather than asking:

“Was this the right decision?”

Ask:

What information did I have at the time?
What outcome was I hoping for?
Has new information emerged since then?
What did I learn from the experience?
Would I use the same decision-making process again?

This shifts the focus from blame to growth.

Learning to Trust Yourself With Money

Many business owners — especially women — have been conditioned to doubt their financial instincts.

But intuition and experience are powerful tools when combined with logic.

Trust-building happens through repetition:

Make a decision
Follow through
Reflect on the outcome
Apply lessons next time

Over time, decision-making becomes faster and less emotionally charged.

Not Every Decision Deserves Equal Energy

Another practical insight from this episode:

Consider the scale of the decision.

If the potential cost is relatively small, it may not warrant prolonged analysis.

Ask yourself:

What’s the financial impact?
What’s the potential upside?
Can this decision be reversed?
Do I have prior experience to guide me?

This helps allocate energy appropriately.

Build a Support System for Better Decisions

Even confident founders don’t operate alone.

Trusted advisors can dramatically improve decision-making quality and speed.

These might include:

Coaches
Mentors
Financial advisors
Experienced peers
Specialists in your industry

Having the right people available reduces isolation and uncertainty.

Replace Shame With Learning

One of the most damaging responses to a “bad” decision is self-criticism.

Guilt, embarrassment, or shame do not improve outcomes — they only slow recovery and reduce confidence.

A more productive mindset is curiosity:

What can this experience teach me?

Every decision generates data.

Successful business owners use that data rather than judging themselves.

The Compounding Benefits of Self-Trust

When you consistently back yourself:

Decisions become faster
Stress decreases
Opportunities are seized earlier
Confidence grows
Leadership strengthens

Over time, this creates a powerful competitive advantage.

Not because you never make mistakes — but because you recover quickly and keep moving.

Final Thoughts

Small business success isn’t built on perfect decisions.

It’s built on consistent action, adaptability, and self-trust.

You don’t need to get everything right.

You need to keep going.

When you learn to back yourself — even when outcomes are uncertain — you free up time, energy, and mental space to focus on what truly matters: building a sustainable, impactful business.

Your future success depends less on flawless judgement and more on your willingness to trust the person making the decisions.

And that person is you.

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.

________________________________________________________________________

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?

Check out my FREE Pricing Training you need to set your prices for profitability.