Written by: Vickie Sullivan  |  May 09, 2013

Different Colors of Money

I have a new soul sister.  She is business writer Sarah Johnson, whose work has appeared in heavyweight publications CFO and CIO.  While we have never crossed paths, this blog post is a better-worded rant than I’ve given for years.

The upshot:  running a business and managing a household are two different things.  My favorite example:  item #2 on handling debt.

I will use myself as an example.  In my limited off-time, I love to shop for deals and steals.  If that perfect handbag is not at least 40% off, I will walk away.  Why?  Because I really don’t NEED that bag.  I will not go into debt for a killer closet.

In business, my approach is just the opposite.  If I need something (such as a website), I don’t shop for sales.  Yes, I expect full value.  But I decide based on talent first, then price.  Why?  Because that website (or anything else I need) grows my business.  For that, I will go into debt because I know I have to invest before my clients will invest in me.  It is a strategic investment, not a shopping trip.

This is an important distinction.  When we don’t separate our money, we set up lose/lose solutions.  If we force our business to compete with our mortgage, our kid’s education, or our spouse’s wrath, the business will lose every time.  This is why some folks spend years treading water.  (A recent example:  Vicky L just talked with someone who has struggled for nine years.  And they still can’t pull the trigger.)

Let’s not be so afraid of spending money that we starve our business.  Our passion, our gifts, and our contribution deserve better than that.