Creating Margin

business entrepreneurship financial lawncare margin marginpillars mental time Jun 28, 2021

Let's start with my definition of MARGIN:

 “Margin is the space you create to take advantage of opportunities not yet seen” 

 

Where do I begin?

This topic flows out of me so naturally. I love the topic of margin! Without margin in our lives, we become over-extended, exhausted, and work from a deficit rather than a surplus. In this week's blog, we will outline principles and truths that allow you to both create and maximize margin during your leadership journey.

There are three margin pillars that are crucial to your success in maximizing margins:

1. Financial
2. Time
3.  Mental

For each of these pillars, we will be providing examples and then practical advice to help you leverage margin in each of those areas. Our goal is to help you understand why the three pillars are important areas to create margin and how you can benefit from more margin in each of these areas.


Lesson One: Margin Pillars

 
If you have one foot on yesterday and one foot on tomorrow, you are in a perfect position to take a huge deuce on today
First Margin Pillar: Financial
 
Examples:
  • Profit
  • Paying off debt
  • Multiple streams of income
  • Trackable Recurring Revenue
  • Increase in net worth
  • Emergency Fund
  • Winter Savings Fund
  • Tithe/Donations
 
Outcomes:
  • Experience/Materialistic
  • Security
  • Stability
  • Diversity
  • More loan leverage
  • Giving
 

Second Margin Pillar: Time
 
Examples:
  • Weekly Rhythms
  • Time Blocks
  • Peak Work Times
  • Waking Up Earlier
  • Prioritizing Lists
 
Outcomes:
  • More is done, less is wasted
  • Best version of yourself
  • More time is created
  • Less chaos
  • More family time
  • God is first

 


Third Margin Pillar: Mental
 
Examples:
  • 6 Gears
  • Brain Dump
  • Organization
  • Communicate
  • Brainstorm
  • Accountability
 
Outcomes:
  • Clarity
  • Being Present
  • Creative Ideas
  • Strategic Planning
  • Growth
  • Perspective
 
 
Lesson Two: Creating Margin
 
We don't know what's around the next corner. If we simply continue around the corner blindly, we live our lives reactionary, rather than intentionally. 
 
We must happen to our finances, time, and mindset. We can not let those things happen to us. By implementing some of these tools listed below you can begin to curate margin in your own life!
 
Scarcity and Abundance
 
Scarcity - When allocating or saving time and money
Abundance - When investing money and be fully present with time
 
Slingshot Principle
Going backward for a brief time, in order to launch forward
 
6 Gears
Creating a framework for your life routines. Knowing which gear you are in and how to properly shift up or down will create mental and time margin.
 
Peaks In Income
  • Living off of current recurring revenue
  • Use peaks in income to create margin in finances
  • This can fuel growth, provide security or sustainability through the winter
Automate, Delegate, Delete
 Everything you do as a business owner should be run through this filter: 
 
Can what I am doing eventually be:
  1. Automated
  2. Delegated
  3. Deleted 

Strategic Objectives Exercise
 
This tool can be used to highlight necessary next steps, reduce clutter, provide a clear path, and all in all help with mental clarity. Protecting our mental margin is one of the hardest things to do. Alex Judd says “You must create structures, in order to stop worrying”
 
List out your overall objective. Then underneath that do a brainstorming session on these four questions.
 
What is:
  1. Working
  2. Broken
  3. Missing
  4. Confusing
Then: list the #1 area that if you improve on it, would move your business forward this quarter?
 
Lastly: List out 3-5 achievable and specific commitments 
 

 

“Failing to prepare, is preparing to fail”

- John Wooden