Editor’s Note: This newsletter was originally published on August 30th, 2021.
Stop The "No-Margin" Nonsense!
I was having a conversation this week about the growing challenge of businesses closing due to lack of staff or lack of products.
We are quick to blame Covid-19, but the reality is that the virus was a catalyst (not the cause of what we’re seeing)!
Individuals living “paycheck-to-paycheck” is not a new phenomenon. Businesses operating “lean” with minimal staff & low inventories (of product and building materials/blocks) have been a driving force in management circles for the past few years.
Our personal finances are highly leveraged; our business operations are “lean”.
Lacking, now that we’re enduring disruption culturally, economically, and politically, is Margin!
Our grandmothers kept back some money in the tin for “rainy days”. Our grandfathers planted and stored some extra for “dry spells”. Neither had a lot, but they always had some for a family member or neighbor who fell onto “hard times”.
They had Margin in their lives & in their businesses!
One hurricane or one sickness or one “bad month” didn’t take them out of the game. They could weather temporary setbacks without them leading to permanent failures.
The Boy Scout motto is “Be Prepared”. It is just as appropriate today as it was years ago.
Consider
- Do you have enough gas in your tank if a hurricane limits supply for a few days?
- If your restaurant misses its next delivery, do you have something to serve your customers?
- What would happen if your team leader decides to work for someone else (or she decides to stay at home with her newborn)?
- Could you pay your mortgage or rent next month if your employer (or business) closed its doors?
These are all basic thought exercises, but if they are concerning, it may be time to introduce some greater margin into your life, your business, and your relationships.
If this is speaking to you, I’d recommend thinking about it in the context of the quote below.
Start where you are, Use what you have, and Do what you can!
I’d love to hear your thoughts on this so shoot me an email. Let’s have a great start to the week!
-D
On an unrelated sports note, next week is the start of the NCAA CFB season. While there are a number of games upcoming, I plan to be cheering hard for my UGA Bulldogs against the orange-clad ne’er do wells from Clemson, SC. #NothingGoodInOrange
This is a short quote from the former tennis professional, but it succinctly highlights a mentality focused on the possible.
How many people spend their lives measuring things by what they don’t have and expecting failure. It is no wonder that there is so much negativity and jealousy.
In Ashe’s quote, he undermines three of the most common objections that we hear (or use).
- For those who think it is too late or early entrants are already ahead, he offers the simple advice to Start where you are!
- For others who view their ability or opportunity based on characteristics or resources they lack, he suggests Using what you have!
- To everyone whose initial response is an excuse founded in “why they can’t”, he points out that it is enough to try Doing what you can!
Ashe, as a professional athlete, experienced failure. It is certain that he (like us) endured personal failures too.
However, grounded within these simple urgings, we see the makings of a positive outlook based on the possible.
The world is bigger and brighter when viewed through the lens of possibilities! It’s hard not to smile when you see things as they can be instead of living beneath the curse of what you believe they can’t be!
What do YOU need to start where you are using what you have to do what you can?
For those checking out the book reviews, I reviewed E-Myth Revisited by Michael Gerber. You can check out my notes at this link.
Keep a lookout as I just finished One Million Followers by Brendan Kane and will be posting my notes for that one soon.
Where those 50% at ? … when new shit is happening .. many say “No” without spending the hours to know why pic.twitter.com/R2ZzWktVgz
— Gary Vaynerchuk (@garyvee) August 28, 2021
Other Links
SEO Basics
SEOSly does a good job getting you started with this article. If you’re just starting your website or getting your feet wet optimizing your existing website for search, it’s a good starting point.
If you would rather just hire someone with the skills, Moz published an article on bringing the talent in-house. Alternatively, shoot me a message as we might be able to help as well.
U.S. Supreme Court overturns Eviction Ban extension
I have been touching on the now-decided revocation of the Eviction ban extension in previous editions. In last week’s, I highlighted the problems that have been mounting and how this will eventually manifest. With this week’s decision by the U.S. Supreme Court, this is now a coming reality.
There are more challenges still to come for landlords & renters, but removing the artificial constraints enacted by the eviction ban is a first step to resetting (and eventually repairing) the rental housing markets.
What is the difference between a Scrum Master & Agile Coach?
This is similar to the “Square is a Rectangle, but a Rectangle might not be a Square” discussion. Scrum Masters serve as facilitators, guides, and, in some ways, agile coaches for their teams. An Agile Coach might be leading a team via another methodology besides Scrum. The key is their servant-leadership of the team empowering and enabling them to be more effective as they grow & evolve.
I shared some thoughts on Agile Transformations in an earlier newsletter. Here’s a link if you missed it.
12 yrs old selling $400K in NFTs
Interestingly, this article’s heading sounds dismissive and negative to NFTs. I am by no means an expert, but I will not be calling those active in these emerging markets “idiots” or predict their failures as did naysayers about smartphones, Facebook, Ride-sharing, and other disruptors a few short years ago!
My advice – If you’re interested or intrigued, invest some time learning about the markets, how they work, how profits are made within them, and what risks might exist based on where they currently are today. If you’re not, invest your time in topics where you are!
