Episode 62: Margin, Seasons, & Values. Work-Life Balance in Perspective.
In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, ChFC®, BFA™ is joined by a long-time friend of the show, Couples Counselor Dr. Matt Morris, and first-time guest Michael Baudin.
Listen in as they discuss what work-life balance is and, maybe more importantly, what it is not. This recording extends from a casual conversation among friends that originated at a Pelicans NBA basketball game. Erik felt compelled to share this compelling dialogue with Stuff About Money listeners.
Drawing from his expertise as a family therapist, Dr. Matt offers valuable insights, while Michael contributes his perspectives as a successful entrepreneur. Together, they conclude the discussion by offering practical strategies to attain fulfillment in one’s professional and personal life.
They address pressing questions such as: Is work-life balance merely a myth? How can entrepreneurs effectively juggle the demands of business, family, and self-care while maintaining their well-being? And what sacrifices are acceptable in the pursuit of business growth? A standout moment in the episode is when Dr. Matt underscores the significance of creating margin in one’s life to achieve a sense of “balance”.
Episode Highlights:
- Dr. Matt explains why work-life balance is important due to the limited time we have on earth. (6:27)
- Michael discusses work-life balance using the analogy of dividing a dollar into life’s responsibilities: work, family, and self. (13:54)
- Michael shares experiences of his business’s growing pains, hiring employees, and increasing responsibilities that occasionally made him less present at home. (21:33)
- Dr. Matt discusses the distinct challenges entrepreneurs face compared to employees, particularly in balancing time and resource allocation between business and family. (29:00)
- Michael acknowledges that a one-size-fits-all approach doesn’t work for managing family dynamics and business commitments. (34:58)
- Erik emphasizes the importance of maintaining a “margin” in life, especially for entrepreneurs managing multiple demands. (41:00)
- Michael values maintaining a work-life balance, prioritizing attendance at his children’s events and allowing his employees the same flexibility. (59:38)
Key Quotes:
- “You get a lot of pride out of building your business, it’s an enjoyment for you to build your business.” – Dr. Matt Morris
- “Leave enough margin in your life and in your day that you can respond to needs as they pop up.” – Dr. Matt Morris
- “You have to be fluid, you have to just be able to recognize what’s happening and what’s coming and be able to react, because that’s all part of being a business owner and entrepreneur, whatever you want to call yourself. ” – Michael Baudin
