A Rearview Only Blinds You - Thriday from a customer perspective

March 28, 2024
minutes to read
Lauren Deuble
Table of Contents

I’ve been told countless times that my inability to be satisfied with what’s available is going to be my undoing. But what happens when you flip that mindset on its head and find that it could be a strength?

I expect entrepreneurs in general aren’t satisfied with what’s available. So when I started my small business and was absolutely adamant that I would run it properly from day one, I was sorely disappointed to find that the cheapest accounting platform available at the time was $50 a month. This didn’t include the bookkeeping and accounting services I would need to fork out for. 

After I charged my hourly rate, got paid, paid for the accounting platform, bookkeeper, insurance and basic software that my business needed to run, I was going backwards. Fast. I was so confused. I had worked so hard, worked through weekends, worked through family time, ignored my children and let the house become utter chaos to feed this monster. How was I going backwards when I was working so hard to get us ahead?

I’d heard about the Profit First method thanks to a post on a Facebook page. I knew I wanted to set up my accounts using the Profit First method, and finding a bank that would allow me more than one business account with multiple incomings and outgoings was proving difficult. I’d been working with a bank who allowed me two accounts, but it wasn’t enough. I had big goals and it shouldn’t be this hard! I was adamant that Profit First was the way for me, and that meant (once again) I was left dissatisfied with the way I had to run my business - the dated, clunky, expensive and time consuming way.

I’m not going to lie, I’m an outward processor! I hated (and verbally processed to those close to me) that small business owners were stuck with “do it our way or don’t do it at all” from banks. So it only made sense that Google did what Google does well - listened. I sometimes fear for the future with the way AI is advancing, but then I remember that if not for the algorithm's and slightly questionable privacy concerns I have, I would never have heard about Thriday.

I was doom scrolling, going down a rabbit hole of mind numbing clips when out of nowhere, an ad for Thriday (then Thrive) popped up in my feed. I tapped on it - how did it seem to be the answer to all of my business woes? Thrive was seeking beta testers for their new accounting app. I jumped onto their website - IT WAS AUSTRALIAN OWNED AND RUN! That meant there were people somewhere in Australia who I could talk to and get help from. There was even potential to be a part of this revolutionary platform they were building. Being the decisive and impulsive person I am, I applied instantly. 

Excitement was building as I checked my inbox each day, hoping to see an email from Thrive. Then one day when it wasn’t even on my mind, it happened. An email popped up on my phone and there it was - hope.

I had been shortlisted and requested to participate in the beta testing program. There would be an open community with other business owners just like me, who could participate in testing and providing feedback for the platform. I was ecstatic.

I attended the session. I left the session in a state of utter decisiveness - I was going to do this. As soon as I made the decision to be a part of it, imposter syndrome crept in. How could I possibly think my voice would be of value? I was barely going to get through my first year of business at this rate. But this was what I’d been looking for. This was what had been missing from the market. The ideas coming out of Thrive were the exact things I knew businesses were seeking and couldn’t get from one platform. I make many decisions based on one question - will I regret it if I don’t try it? The answer for me was clear. I would do it. I would absolutely regret it if I didn’t.

The trial started. With the help of team Thrive, I transitioned from my clunky old accounting platform to Thrive. How was it so easy to do this and why was the transition being so easy so terrifying to me? It was TOO easy. Surely something would go wrong. But it didn’t.

The feedback part of being a beta tester was fun. Truthfully. I had a fair bit to share. And as you already know, I’m an external processor. So you already know I had ideas. I’m kind of proud to say that a couple have already been implemented and some are on the roadmap! I’m sure they would have been considered already, but each bit of feedback that I left was met with “Awesome! Can you tell us how that would make your experience better? And would you add XYZ to that?”. It was never scoffed at, no matter how small or niche it seemed to be. Things were going great!

Then the conversations started happening. The ones with my accountant who told me in no uncertain terms that this was destined to fail and that these startups happen all the time. That I would lose all my money when the startup decided to drain my accounts and leave me with nothing. That the only ‘safe’ way to manage my business finances was to continue with a clunky old platform, dependent on his input. The dread intensified. I was in this. I was enjoying it. But this was terrifying.

That poor team at Thriday. I still feel bad for the essay I sent Justin with all my fears and concerns (most of which weren’t actually mine but I had taken on from the accountant). Justin addressed EVERY​​ 👏🏻SINGLE 👏🏻 item I had noted. He was so appreciative of my feedback and concerns - he even thanked me for sharing them. I was shocked and grateful. But still not convinced.

Thank goodness for my mum. I am certain that without her very wise input, I wouldn’t have my business today. It definitely wouldn’t have seen its second birthday (soon to be third)! She has worked for multiple accounting firms. I had already told her about being selected to beta test in the early days. She had been happy for me - excited even. That had surprised me. I thought she would have advised me against something that others were telling me was so risky. I told her what our accountant had told me. She listened intently then giggled. How was this even remotely funny? I was pouring out my sadness and acceptance that I was about to lose my business. I certainly didn’t see the humour. Then she said to me “Lauren, if this scares your accountant, it’s good for your business!” Her explanation was just what I needed to hear.

I’m now coming up to my second Thriday birthday. Yep, I’ve been a member since June 2022. My birthday’s in June, and having my Thriday birthday fall in my birthday month seems to be a sweet little perk. I’m always looking for better ways to run my business. I started off using some pretty clunky software. I’ve trialled and paid for many different apps, always seeking to find a better fit. I loved farewelling LastPass in favour of NordPass. That was an incredible step up. Then there’s been those luxury purchases, like AI assisted time tracking. I had been doing this manually as I couldn’t afford the outlay. 

Oh right, I forgot to mention that after I switched over to Thriday, I earned (and took home) my first pay. A year later, I purchased a new iMac for the business. I’ve been able to put money aside each month for insurance and other resources, as well as take home pay. I’ve not looked back. There’s no looking back now. It doesn’t seem like backwards is a direction we should be considering. In the words of my favourite band “You get taller, bolder, stronger and a rearview only blinds you”.

DISCLAIMER: Team Thrive Pty Ltd ABN 15 637 676 496 (Thriday) is an authorised representative (No.1297601) of Regional Australia Bank ABN 21 087 650 360  AFSL 241167 (Regional Australia Bank).  Regional Australia Bank is the issuer of the transaction account and debit card available through Thriday. Any information provided by Thriday is general in nature and does not take into account your personal situation. You should consider whether Thriday is appropriate for you.

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