#SWAAYthenarrative
BETA
Close

Top 5 Things to Consider Before You Mix Money with Friendship

4min read
Fresh Voices

The dire warnings against mingling money with friendship date back to Shakespeare, when Polonius, the chief counselor to King Claudius in Hamlet, says, "Neither a borrower nor a lender be, for a loan often loses both itself and friend." They didn't have electricity or equal rights during the 1500's, but they were still enlightened enough to understand a thing or two about money: it often brings out the worst in people; a loan to the wrong friend could cost both the cash and the relationship.


I got a stiff reminder of this lesson a couple of years ago (my bad, Polonius), when a "mom friend" of mine, Ally, asked to borrow $500, stat. She had an urgent need for seed funding, and I am generally the type who will help a frog cross the road if need be, so I obliged. No interest, no strict payment terms, just goodwill. "Pay me back when you are financially comfortable to do so," I said. "Don't worry about the timing."

You can guess how that turned out.

I am without the money I lent, and without the friendship I thought I had. We'd been close friends since our kids met in first grade, and she ghosted me after I did her a favor.

Despite my friendship-induced PTSD from this incident, I believe money and friendship can mix… with the right person. For me, that person is Jody.

I met Jody in kindergarten, and we immediately bonded over our shared first and middle names (Jodi Lyn and Jody Lynn, respectively). During 40 plus years of friendship, we survived a duel for the same boy in elementary school, high school cliques, double-dating two boys named Jimmy, 80s hair, playing the same varsity sports, attending different colleges, being roommates in our early twenties, multiple moves, marriages, divorce, trips abroad, health scares, pregnancies, motherhood, and my mother's death.

(She never once asked me for money during all of these years of friendship, by the way.)

After my mom's funeral, I became fixated on fulfilling her dream of writing a children's book. I spent countless hours brainstorming and researching possible topics, and sketching out copy. When my son finally gave me the winning idea by innocently asking, "Mom, what was it like when I lived in your belly?" I devoted every minute of my free time to answering his question.

Multiple drafts and rewrites ensued at various coffee shops, between nursery school drop offs, pick ups, and freelance projects. Once I got the book to a place where I felt others could read it, I called her. Jody is not only an incredibly talented illustrator, she is a mom extraordinaire. I knew she would be a perfect second read, and she would see my vision better than anyone else.

I didn't have any money to offer her at that point. I didn't have anyone backing me or believing in me. I had no guarantee the book would ever be published. All I had was my word—a mutual trust earned through decades of friendship—and that was good enough for her.

It took five years to get it done, but, now, our book baby, When You Lived in My Belly, is available for pre-sale and will be out on August 6th. We effectively worked together despite multiple obstacles, differences of opinion, zero funding, countless roadblocks, and almost daily tests of patience, perseverance, and emotional fortitude to bring this book to market. There was a little strain and push and pull but, mostly, there was synergy, shared commitment, and resolve to see it through.

If you're considering mixing money with friendship, how do you avoid an Ally? Here are five ways to pick a Jody:

  1. Assess the friendship. Women have a way of disarming each other and connecting on a deep level rather quickly. Close friendships can be formed during in-depth conversations at kids' sporting events, school functions, or at the gym. Suddenly, someone who was never in your circle is at the center of it—but do you really know her?
  2. Take a hard look at the history of your friendship. Have you had a conflict before? If so, how did you resolve it? Differences of opinion are inevitable when dealing with money and business partnerships. Is your friendship strong enough to overcome challenges and weather storms while remaining intact? Do you really trust her or are you taking a leap of faith?
  3. Get to know her professional persona. Does she have expertise that will complement or clash with yours? Many friendships are based on similarities and not differences, but diverse skill-sets and perspectives make partnerships thrive. What's her work style? Have you spoken to people who have done business with her in the past? Does she share your work ethic? You need to consider every positive and negative attribute before you take a leap.
  4. Take the rose-colored glasses off. According to the Bureau of Labor Statistics, the average American spends 8.5 hours a day at work, but entrepreneurs clock much more time than that. While it may be tempting to believe that spending 50-plus hours per week with your bestie is your version of a professional utopia, consider the alternative. Does she have quirks or issues that already grate on your nerves? Have you built enough friendship equity to spend more time with each other than you do with your families?
  5. Have an honest conversation about the structure of your business. Make sure you have transparent and thorough conversations about hierarchy, titles, hiring practices, goal-setting, financial investments, and work expectations. Better yet, capture the conversation in writing when it comes to anything involving money.
  6. Prepare for the worst, and hope for the best. The Small Business Administration states that while nearly 80% of small businesses survive their first year, only 50% last five years or longer. You're about to embark on a partnership that has more chances of failing than succeeding. That's the reality of starting any business, without the extra layer of complication a friendship can bring. Make sure you pick the right friend.
Our newsletter that womansplains the week
3min read
Self

It’s Time for Women to Stop Worrying About Being “Too Much”

We are living in a time when women are rising to new heights which means they are regularly being confronted with the fear of being "too much". For women in business this is pervasive and costly.

A few ways women can be perceived as "too much" are:

Speaking up about their successes and achievements.

Sharing one too many photos of their cute kids.

Telling one too many people about that date night.

Looking a little too good in that swimsuit.

These can lead to being publicly attacked on social media or privately slandered which in turn leads to women dimming their light and walking on egg shells in hopes of avoiding conflict and judgement.

The minute a woman feels it's unsafe to shine she will begin to overthink, worry, and fear how she shows up in the world.

Forgetting to announce the book is done and the interview is live.

Choosing to focus on what's still on the to-do list rather than what's been checked off.

Many female entrepreneurs are subconsciously altering their behavior in an attempt to not attract too much attention to themselves, rather than focusing on allowing authenticity and magnetism to attract their ideal clients and community.

Women are afraid of being criticized, ostracized, and abandoned by other women for simply being who they are. This leads to quite the quantum when being who you are is simplest way to accelerate the growth of your business.

New research shows men are far more comfortable with self promotion than women are. Researchers found that men rate their own performance 33 percent higher than equally performing women. What we know is that self promotion pays off and this is where women are missing the boat.

The world needs more women to step into leadership roles and no longer be intimidated about creating six and seven figure careers.

Here are five ways to release the fear of being "too much":

1. Approve of yourself.

While it feels good to receive outside validation it will never be enough if you don't first appreciate yourself. The key to having a healthy support system is to make sure you are part of it. Being your biggest critic is what your mother's generation did. It's now time to be your biggest cheerleader. Becoming aware of self talk will reveal what belief is ready to be re-wired. Create a simply mantra that affirms how incredible capable you are.

2. Connect deeply to those you serve.

One powerful way to shift out of people pleasing behavior is to get clear on who actually matters to the wellbeing and success of your life and business. Leadership is not about being the most popular, instead it's a decision to be brave for those who can't be. Take a few minutes each day to visualize and meditate on those your business serves and supports. See your future clients moving toward you every time you choose to stand in your power and use your authentic voice.

3. Remember the legacy you wish to leave.

Having your life purpose and legacy in writing is one of the most transformational exercises you can do. Reading this often will keep you focused on what matters. Knowing what you wish to leave in the hearts of those you love most is incredibly grounding. You didn't come here to keep your mouth shut, dilute your truth, or dim your light-you came here to make a difference.

4. Forgive those who have been unsupportive in the past.

The past has a way of informing the future in a negative way when there is unresolved pain. Take a few minutes to get quiet and ask yourself who you have unforgiveness towards or maybe their name came to mind as you read this article. Listening to a forgiveness meditation or writing a letter to the person you are ready to forgive are both simple and effective ways to process and heal.

5. Be part a community of bright, successful women.

Meaningful relationships with others who have similar aspirations is what will keep you out of isolation and playing small. These connections can happen in a networking group, online community or a local Meetup. Thriving in every area of life is depend on you knowing where you belong and being celebrated there. Don't wait to be invited, go actively seek out people and places that support your dreams and desires.

6. Accept you can have it all.


Women have been fed a lie for generations that says, you can have love or money. Decide you can have it all and allow it to flow to you. You can have a successful career and an amazing mother. You can balance motherhood and loving marriage. Don't let anyone write the rules for you. This is the time to create the life you desire on your terms.

7. Celebrate everything!

The fastest way to leave the haters in the dust is to celebrate everything! At the end of each day lay in bed and recall the best moments. At the end of each week, publicly acknowledge and celebrate what's good in your life. Once a month, have a celebration dinner and share it with those who have helped you in the journey. If there's something good happening, talk about it with everyone who will listen!

May you be a woman who chooses to shine so that others may be reminded of all they can be and do.