Business Lies You Might Be Falling To

Summary

Summary of "Business Lies You Might Be Falling To" – The Candy Valentino Show

Podcast Information:

• Title: The Candy Valentino Show
• Host: Candy Valentino
• Network: Cumulus Podcast Network
• Episode: Business Lies You Might Be Falling To
• Release Date: January 2, 2025

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Introduction

In the January 2, 2025 episode of The Candy Valentino Show, host Candy Valentino delves into the misconceptions that entrepreneurs and business owners commonly believe, which can hinder their growth and success. This episode, titled "Business Lies You Might Be Falling To," explores three prevalent myths in the business world, providing listeners with actionable insights to overcome these false beliefs and achieve greater efficiency and profitability.

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The Three Business Lies

1. Everything Matters Equally (Timestamp: [01:00])

Candy begins by challenging the notion that every aspect of a business holds equal importance. She emphasizes that not all tasks, products, or employees contribute equally to the business’s success. This misconception often leads entrepreneurs to spread themselves too thin, focusing on urgent but non-essential activities that do not significantly impact productivity or growth.

Candy Valentino ([03:15]): "The thought that everything matters equally couldn't be further from the truth. It’s not about who does the most in the day, it’s about who prioritizes the best in the day."

She references the Pareto Principle, highlighting that 80% of results come from 20% of efforts. By identifying and focusing on the most impactful tasks, entrepreneurs can streamline their operations and drive substantial progress without being overwhelmed by less important activities.

Key Takeaways:

• Prioritize tasks based on their impact on business growth.
• Focus on the 20% of activities that generate 80% of the results.
• Build a scalable business model to reduce constant personal effort.

2. A Balanced Life is Possible (Timestamp: [05:45])

The second lie Candy addresses is the belief in achieving a perfectly balanced life. She argues that striving for balance can lead to perpetual dissatisfaction and a sense of missing out, as balance is often an unattainable and dynamic state.

Candy Valentino ([06:30]): "The quest for work-life balance is constantly going to make you feel like you're losing. It will eventually destroy your joy and chip away at your vision of the life you want to create."

Instead of seeking balance, Candy advocates for counterbalancing, where individuals recognize that their lives are inherently unbalanced at different times. By prioritizing and adjusting efforts in various aspects of life—such as work, relationships, and personal growth—entrepreneurs can create a more stable and fulfilling existence without the unrealistic pressure of maintaining perfect equilibrium.

Key Takeaways:

• Embrace counterbalance instead of striving for static balance.
• Understand that priorities shift and adjust efforts accordingly.
• Focus on creating an extraordinary life through strategic prioritization.

3. Multitasking is the Way to Get More Done (Timestamp: [09:00])

The final myth Candy dismantles is the effectiveness of multitasking. She explains that what is often perceived as multitasking is actually juggling tasks ineffectively, leading to decreased productivity and increased errors.

Candy Valentino ([10:05]): "Multitasking should be the definition of the lack of priorities and the lack of planning. Everything you say yes to creates a no in another area."

Candy underscores the importance of single-tasking, where individuals focus on one task at a time to maximize efficiency and the quality of work. She advises setting clear boundaries and minimizing distractions to maintain focus on the most critical tasks that drive business success.

Key Takeaways:

• Avoid multitasking by dedicating full attention to one task at a time.
• Set boundaries to minimize distractions and maintain focus.
• Understand the trade-offs: Every yes to a new task is a no to another.

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Insights and Recommendations

Candy Valentino offers several strategies to help entrepreneurs navigate these business lies:

1. Identify the One Thing: Determine the most impactful task or goal that will drive the most significant results and focus your efforts there.

   Candy Valentino ([04:50]): "What is the one thing that you need to focus on in order to get a greater result more quickly?"

2. Understand Your Numbers: Regularly analyze business metrics to make informed decisions rather than relying on feelings or assumptions.

   Candy Valentino ([12:30]): "Take two hours, schedule yourself a lunch somewhere, go for coffee, grab a glass of wine, whatever your thing is, and start to understand your numbers."

3. Set Parameters Around Focus: Establish clear boundaries to protect your focus and prevent distractions from derailing your priorities.

4. Embrace Counterbalancing: Accept that life and business will have periods of imbalance and plan accordingly to manage different areas effectively without striving for unrealistic balance.

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Conclusion

In this episode, Candy Valentino effectively debunks three common myths that can hinder entrepreneurial success: the belief that everything matters equally, that a balanced life is attainable, and that multitasking enhances productivity. By prioritizing impactful tasks, embracing counterbalancing, and focusing on single-tasking, entrepreneurs can streamline their efforts, enhance productivity, and build more sustainable and prosperous businesses.

Candy encourages listeners to take actionable steps, such as blocking out time to understand business metrics and focusing on the most critical tasks, to overcome these misconceptions and achieve their business and personal goals.

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Notable Quotes

• On Prioritization:
  "The thought that everything matters equally couldn't be further from the truth." — Candy Valentino ([03:15])

• On Work-Life Balance:
  "The quest for work-life balance is constantly going to make you feel like you're losing." — Candy Valentino ([06:30])

• On Multitasking:
  "Multitasking should be the definition of the lack of priorities and the lack of planning." — Candy Valentino ([10:05])

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Additional Resources

• Book Mentioned:
  Wealth Habits by Candy Valentino – A best-selling guide available on Amazon.

• Website:
  9%edge.com – Claim $1,500 in pre-order bonuses and learn more about creating revenue and freedom.

• Social Media:
  Follow Candy Valentino on Instagram @candyvalentino for more insights and updates.

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By addressing and debunking these business lies, Candy Valentino equips entrepreneurs with the knowledge and tools necessary to streamline their operations, focus on what truly matters, and build a path toward sustained wealth and success.

Transcript

[A]

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[B]

Welcome to the Candy Valentino show, the podcast for founders, investors and entrepreneurs where we have honest conversations about what it takes to grow your business, build more wealth, and create financial freedom.

[C]

Hey guys, welcome back to another episode of the show. I am so glad you are here today. I'm your host Candy Valentino and appreciate you tuning in as I want to continue on this series of business and entrepreneurial topics. And as we do that throughout this month and the next few weeks, I wanted to talk about measuring what matters. Now, obviously this is related to being an entrepreneur, but this also could work for for so many other areas of your life. So let's dive in as we break down the three Lies in business. Okay, so obviously there are far more than three lies in business, but these are three of the lies that I commonly hear. And number one is everything matters equally. This is one of not only the biggest lies in business, but in life that all of the things that you're doing matter equally. All of your products, your employees, obviously they matter equally as humans, but not in what the value they bring to the business, nor does all of your focus matter equally. So the thought that everything matters equally couldn't be further from the truth. Because when everything feels urgent, it feels important and then everything feels equal. But in business, sometimes you could be majoring in minor things while you're doing urgent yet unimportant things. The activity that you're doing day to day is unrelated to productivity, just as everything in business doesn't necessarily move the needle in yours. So if you want to reach new levels of success, it's not about who does the most in the day, it's about who prioritizes the best in the day. And there's been numerous studies done on the Pareto Principle. I did a whole podcast episode on this that proves 80% of all the work that we do is really done with 20% of the effort. So as we continue to focus on growth and scale, on becoming a better entrepreneur, we have to get better at building the machine of your business so that you don't constantly have to work all of the time. There is a Wolfgang quote that I love. It says the things that matter most should never be at the mercy of those that matter least. And of course we're talking about business in this case, but it can also talk about your personal life, family, relationship, kids. Because sometimes in life we have to go all in on something. Sometimes we have to ignore other areas of our life and go all in on this one thing. And then the lies of our mind is actually what derails us from that goal. It's often what trips us up, whether it's the next revenue goal or strategy that we're trying to implement, or an action plan or hiring the next person. So I really want to unpack what it means to focus on 20% in order to get 80% of your result. And there was a study in Hong Kong, I believe might not have been Hong Kong, it was definitely Asia that they did this study when they were determining force and, and effort as it relates to a bunch of dominoes. And they said that when they lined up all of these dominoes, that the force of just one domino, the force that it took, if they put them all in order, all of the inertia, all of the force would have been able to reach the height of the Eiffel Tower. Now think about that. What is the next domino in your business? What is the next thing? What is the one thing that will really move the needle forward? So I want to take this time and just kind of dive back into this one thing principle, because there is one thing that you need to focus on right now, whether it's the next two weeks, the next two months, or the next two quarters in order to propel you forward much faster. So my question to you is, what is the one thing that you need to focus on in order to get a greater result more quickly? And you can use this in any area of your life. But when I'm looking at a business, whether it's one of mine or one that I'm working with a client or a consulting client on, I want to find out what exactly they're doing in a day. And to remove all of the non urgent, non important things, the busy work that's keeping them from doing the thing that they need to do, the only thing they need to do in that business might be one thing they're not even working on, but that one thing will take them further than anything else that they do. And if you need to take some time, focus it on your calendar, block it out, and really look at what is the one thing that will give you a greater return on your time than anything else that you're doing. The second lie is that a balanced life is possible. A balanced life is simply an unattainable pipe dream. We are fed this narrative as humans, as entrepreneurs, as parents, that once you achieve balance, then that's when you'll have a really great life. But unfortunately, what happens is when we don't feel balanced, then we start to feel lack or that we're missing something. And that's because the quest for work life balance is constantly going to make you feel like you're losing. It's going to eventually destroy your joy. It's going to chip away at whatever vision of the life that you want to create. And that applies in our mind. When something is out of balance, we think that there's something wrong with us. So moving forward, I want to challenge you rather to focus on finding balance. I want you to find counterbalance. Counterbalance is knowing that we already are balanced and that there is nothing missing or wrong with us. However, we're just trying to counterbalance the effort that we put in different buckets in our life, whether that's the work life, home life, relationships. So I want you to draw this visual in your mind. You've got a board two by four, and on either end you have two big buckets, the big orange Home Depot buckets which I just saw at the renovation I was at this morning. So that's what's in my mind. I want you to think about those two buckets having water, not the equal amount of water. Some has more, the other one has a little less. And you're just trying to counterbalance the buckets in order to achieve something that's a little more stable. Sometimes when you're building a business or taking on a new investment, you may go all in for a season. And that's okay, because when you come back up, then you can go all in in another area of your life. But thinking that we're always going to achieve balance will put you on a perpetual hamster wheel that will leave you feeling lack. By doing the right things, by making a priority for things when it's needed and leaving the rest. That is when you can create an extraordinary life. But it comes from counterbalancing, not from trying to achieve balance. And look, if you're working on a lot of things right now, it can feel very heavy and you can feel like you're leaving things go in other areas of your life. But remember that this season is short and if you're focusing on the one thing, if you're prioritizing your day and not letting your day control you, you'll be able to come up from this season that you went all in on, and you're going to be much further down the road than if you tried to balance every other area of your life at the same time.

[D]

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[E]

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[C]

The third lie Multitasking is the way to get more done. Oh my gosh. This became a media buzzword in the late 90s and I feel it has yet to die. Really, what multitasking is is your ability to screw up two things at the same time. I mean, think of juggling. When people are juggling in the air, you maybe think that they're juggling three balls, but really what they're doing is they're dropping one or two balls really quickly and catching the other. Your focus is much like that. There is really only one thing that you're focused on. And multitasking is really what it is. It should be the definition of the lack of priorities, the lack of planning. It goes back to the first thing I talked about. It's the assumption that all things are equal, which we know they aren't. So if you're doing the most important thing in your business on a day to day basis, why would you want to be doing anything else? And look, I get it, like, distraction happens. But if you don't control those distractions, they will control you and they will rob you of your goals. And this is not about trying to make you feel bad or beat yourself up. This happens to everyone. But this is to bring awareness to what's happening in your day so that you can be intentional and asking yourself, like, how can we set up parameters around our focus in order to accomplish more? Because if your brain is left to its own devices, distraction will ultimately undermine your results. And in order to apply focus so that we can feel comfortable dropping all of these other things, it's to know exactly where we are needed in order to help us grow, scale, and achieve the goals that we're looking to achieve. But don't buy into the lie that you can do two things well at the same time. And that's why everything you say yes for creates a no in another area. So as you're thinking on developing new offers or products or employees in your business, I want you to remember that every one of those yes requires a no in another area. Yes, multitasking is a lie. So now what do I focus on? Right. Well, here's the thing. Anytime I want to focus on something, whether it's scaling, speed of execution, implementing something, I first set parameters around the distraction element. I don't move forward until I have my boundaries in place. Because all entrepreneurs, no matter if you have a diagnosis for it or not, most fall into the trap of this shiny object. The latest, greatest, the marketing trend, the new software, the this, the that, the rebrand, someone else is doing this. I should be doing that too. But every single one of those things you say yes to, you say no to something else. Unless you have a massive team in place that's as deep as it is wide. And even then, you have to set parameters around your focus in order to really get the maximum result of your time. So the question is, how do we know what's moving in our business? Well, if you read Wealth Habits or you listen to another one of these podcasts, I often talk about the state of the union meeting because these are going to help you know the numbers and the data inside of your business and they're not going to lie like our feelings do. Our feelings are not always facts. Our beliefs are sometimes lies. But when we dive into the numbers of our business, we can see what's working and what's not. Should you be focusing on customer acquisition and gross revenue? Do you have a lot of customers but they're not sticking and you need to focus on retention, attention or churn? Do you have both of those things but you're not netting a lot? Do you need to be focusing on operations and structure until you really get a deep dive and an understanding of your numbers from either your P L, your pos, your CRM, everything that you've got, you're not going to be able to make the best decisions in your business. If you haven't already, take out your calendar and block off two hours one day this month. In the next 30 days, take two hours, schedule yourself a lunch somewhere, go for coffee, grab a glass of wine, whatever your thing is, and start to understand your numbers. We spend two hours on Netflix or going to a movie or going to dinner, but that two hours that you invest in understanding and getting intimate with the numbers and data of your business will pay dividends not just in growth but also in scale. And if you ever want to exit so what is your one thing? If you listen to this podcast screenshot, it tag me on Instagram because you know one of the challenges of having a podcast is I don't get to see and talk to you. So if you love this podcast, please let me know. And that's all for today's episode. If you haven't subscribed on YouTube or picked up a copy of the Wall Street Journal best selling book Wealth Habits, head over to Amazon and grab one today. And until next time, guys, thanks so much for tuning in, cheering you on every step of the way. Hey guys, thanks for tuning in to this episode and if there was something that you loved or you had a specific takeaway, share it and tag me at Candy Valentino. And if you haven't already, grab a copy of my latest book, the 9% Edge Life Changing Secrets to create more revenue for your business and more freedom for yourself. You can pick it up anywhere books are sold, Amazon, Barnes and Noble, or your local independent store. And once you do, head over to 9% edge.com and claim $1,500 in pre order bonuses, including a chance to join me on this very show. Thanks so much for tuning in and spending this time with me today, guys. We'll see you next time.

[D]

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[E]

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