Podcast Summary: Living The Red Life - Episode: High Performance Habits of Successful Entrepreneurs

Release Date: February 13, 2025

Host: Rudy Mawer

Introduction

In the latest episode of Living The Red Life, host Rudy Mawer delves into the essential habits and strategies that drive high performance among successful entrepreneurs. Joining him is Maggie Perotin, a seasoned business and leadership coach, founder of Dream Plan Do, and owner of Stairway to Leadership. Together, they explore the nuances of productivity, time management, and the delicate balance between professional success and personal well-being.

Understanding the Productivity Problem Among Entrepreneurs

Rudy sets the stage by highlighting a common issue faced by entrepreneurs: the confusion between being busy and being productive. He compares entrepreneurs to professional athletes, emphasizing that poor performance doesn't just affect the individual but ripples out to employees, customers, and family members.

Rudy states at [00:34] “No, everyone suffers. Your employees suffer, your customers suffer, your family suffer,” underscoring the broader impact of an entrepreneur’s productivity.

Maggie echoes this sentiment, attributing the problem to societal conditioning where "busy means important" ([03:33]). She references Richard Cobby’s notion that “there’s nothing worse than being busy doing things that are not effective” ([04:46]), emphasizing the need for entrepreneurs to discern between mere activity and meaningful progress.

Strategies to Enhance Productivity

1. Time Tracking

Maggie advocates for tracking your time as the foundational step towards improving productivity. By meticulously documenting how each hour is spent, entrepreneurs can gain clarity on unproductive habits.

At [02:53], Maggie shares her personal journey: “I was spending so much time in the evening just vegging on the couch... I realized that has to stop.”

2. Valuing Your Time

Building on time tracking, Maggie introduces the "value of your time" concept. She suggests entrepreneurs should view their time through a high-stakes lens, akin to asking, “If you had to pay yourself $10,000 for an hour of your time, is what you're doing worth it?” ([07:14]).

Rudy emphasizes this golden rule, likening it to his approach in the fitness world: “If you're trying to get a six-pack, when you eat a food, you should be asking yourself... Yes or no” ([08:25]).

3. Habit Building and Systems

Both Rudy and Maggie agree on the importance of establishing strong habits and systems. Maggie highlights the necessity of having a clear strategy and plan, allowing entrepreneurs to stay focused amidst numerous distractions ([08:25]). Rudy adds that as a business grows, building robust systems enables delegation and minimizes the need to oversee every minor task ([09:06]).

Balancing High Performance with Personal Life

A pivotal discussion revolves around maintaining high performance without sacrificing personal well-being. Rudy poses a critical question: “Does high performance mean being productive from 6 AM to 11 PM, or is there room for downtime?” ([09:41]).

Maggie responds by defining high performance holistically. She emphasizes that being at one’s best involves feeling, thinking, and acting optimally, which necessitates intentional relaxation. She shares her personal balance between business and family, asserting that quality time with loved ones enhances business performance by reducing stress and fostering mental clarity ([10:14]).

Rudy reflects on his own journey, transitioning from an obsessive work ethic in his 20s to a balanced approach in his 30s: “I have my productive time and my work time and then I have some... cheat meal” ([12:17]). He likens this balance to professional athletes who incorporate both intense training and recovery periods ([13:41]).

Additional High Performance Tips

Maggie offers several actionable tips to cultivate high performance:

• Master Your Morning: Begin the day with intention rather than getting distracted by phones or emails. She recommends waking up early—for example, at 4:30 AM—to dedicate uninterrupted time to important tasks ([14:41]).

• Weekly Planning: Instead of daily to-do lists that drain mental energy, plan tasks weekly aligned with strategic goals. This approach conserves mental resources and ensures focus on high-impact activities ([14:46]).

• Limit Distractions: Reducing exposure to phone notifications and news can prevent attention and energy drain, thereby maintaining productivity and lowering stress levels ([14:46]).

Practical Steps to Implement

To translate these insights into action, Maggie outlines a two-step process:

1. Track Your Time: Use tools like phone apps or spreadsheets to document activities for a week, gaining awareness of time allocation ([17:25]).

2. Create a Productivity Grid: Categorize tasks based on ROI (Return on Investment) and Time Required:

   • High ROI, High Time: Essential tasks that drive business growth.
   • High ROI, Low Time: The “holy grail” tasks that offer significant impact with minimal time.
   • Low ROI, High Time: Tasks that consume time without providing substantial value, which should be delegated or eliminated.
   • Low ROI, Low Time: Minor tasks that can be minimized or handled efficiently.

Rudy parallels this method to dietary habits, suggesting entrepreneurs adopt similar disciplined approaches to task management ([17:57]).

Guest's Personal Insights

Biggest Win in Business

Maggie identifies her clients' successes as her greatest achievements. Witnessing them reach new heights and recognize greater opportunities fuels her passion ([20:19]).

Biggest Setback in Business

She recounts a challenging period last year when her marketing strategies stalled, resulting in fewer clients and diminished income. This setback compelled her to reevaluate and revamp her brand and marketing approach, which has since yielded positive results ([20:50]).

Advice to Younger Self

If given the chance, Maggie would advise her younger self to start her business sooner. Realizing the benefits of entrepreneurship in her early 40s, she believes an earlier start would have accelerated her growth and success ([21:51]).

Conclusion

The episode concludes with Rudy reinforcing the importance of awareness and intentionality in productivity. He likens effective time management to maintaining a balanced diet, where small, consistent choices lead to significant long-term benefits ([23:13]).

Maggie directs listeners to her website stairwaytoleadership.com and her social media profiles on Instagram and LinkedIn for further insights and coaching services ([22:21]).

Key Takeaways

• Differentiate Between Being Busy and Being Productive: Focus on tasks that drive high ROI rather than merely staying occupied.

• Implement Time Tracking: Gain clarity on how time is spent to identify and eliminate unproductive habits.

• Value Your Time Highly: Continuously assess if tasks are worth your investment of time, delegating or eliminating where necessary.

• Build Strong Habits and Systems: Establish routines and processes that support sustained focus and efficiency.

• Maintain Work-Life Balance: Prioritize personal well-being to enhance overall business performance.

• Plan Weekly, Not Just Daily: Align weekly tasks with strategic objectives to conserve mental energy and maintain focus.

By integrating these high performance habits, entrepreneurs can elevate their productivity, grow their businesses effectively, and cultivate a balanced, fulfilling personal life.