Inside A Live Q&A From Legacy Summit

Summary

The Candy Valentino Show: Inside A Live Q&A From Legacy Summit – Detailed Summary

Podcast Information:

• Title: The Candy Valentino Show
• Host: Candy Valentino | Cumulus Podcast Network
• Episode: Inside A Live Q&A From Legacy Summit
• Release Date: November 23, 2024

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Introduction

In this engaging live Q&A session from the Legacy Summit, Candy Valentino delves into crucial topics for founders, investors, and entrepreneurs. Drawing from her extensive 25-year experience, Candy addresses audience questions on wealth habits, business success, teaching financial responsibility to children, maintaining focus, and cultivating a growth mindset.

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1. Teaching Kids to Contribute

Audience Question: "Do you have any ways where you can teach kids how to contribute? Like steps to teach a kid how to contribute." ([00:59])

Candy’s Response: Candy emphasizes the importance of leading by example when teaching children to contribute. She references the last chapter of her book, which provides conversation starters and practical steps for families to get involved in charitable activities.

• Key Points:
  • Lead by Example: Participate in charitable activities with your children to make the experience meaningful.
  • Allocate Time and Money: Dedicate a portion of family time and finances to contributions, making it a regular habit.
  • Choose Relevant Charities: Select charities that resonate with children, such as those focused on animals or youth.

Notable Quote: "I think it first starts with the allocation of money, what you're using it for. And then this is like something we're doing as a family that we're going to contribute this way to." ([01:06])

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2. Timeframe for Achieving Business Success

Audience Question: "How long did it take you to see real success so that people don’t get discouraged if it takes more than a year or two?" ([03:23])

Candy’s Response: Candy shares her personal journey, highlighting that real, sustainable success often takes around a decade to achieve. She underscores that success is subjective and varies from person to person.

• Key Points:
  • Patience is Crucial: Understanding that building sustainable processes and systems takes time.
  • Sustained Effort: A decade of consistent effort was necessary for Candy to create a thriving business machine.
  • Personal Fulfillment: Loving the process makes the long journey enjoyable and less strenuous.

Notable Quote: "It’s about who you become. Like, if I wouldn’t have had a lot of the challenges that I had when I was younger, I wouldn't have been able to be resilient AF as I was in business." ([05:05])

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3. Enjoying the Journey to Success

Audience Insight: "It's not the top of the mountain that matters, it’s the ride up." ([04:50])

Candy’s Response: Candy agrees wholeheartedly, emphasizing the importance of enjoying the entrepreneurial journey rather than fixating solely on the end goal.

• Key Points:
  • Love What You Do: Passion for business and investing makes long hours feel less burdensome.
  • Personal Growth: Overcoming challenges builds resilience and a relentless pursuit of goals.
  • Long-Term Perspective: Playing the long game allows relationships and investments to compound over time.

Notable Quote: "If you're playing the long game, what the hell does it matter if it takes eight years or twelve years because you're in it." ([05:05])

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4. Balancing Ambition and Contentment

Audience Reflection: "Imagine reaching a place where you’re both ambitious and content." ([06:50])

Candy’s Response: Candy discusses Jim Rohn’s concept of balancing ambition with contentment. She believes that enduring the long journey fosters appreciation and enables individuals to find contentment alongside their drive for success.

• Key Points:
  • Growth vs. Contentment: Striving for growth while appreciating current achievements leads to balanced success.
  • Focus on What Matters: Avoid getting bogged down by insignificant details that hinder progress.
  • Continuous Contribution: Maintaining the vision to contribute while still pursuing greater goals.

Notable Quote: "Playing the long game... we don't know what mountain, what peak you're on." ([08:21])

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5. Maintaining Focus and Avoiding Shiny Object Syndrome

Audience Question: "What can you say to someone who quit their job to start a business but is struggling, and how do you avoid shiny object syndrome?" ([12:08])

Candy’s Response: Candy addresses the common pitfalls of entrepreneurial focus and the allure of constantly chasing new ideas. She stresses the importance of disciplined execution over mere ideation.

• Key Points:
  • Ideas vs. Execution: Execution and implementation are critical for building a successful business, not just generating ideas.
  • Discipline and Choice: Cultivate discipline to stay focused by minimizing distractions, such as keeping the phone on silent.
  • Stick to What You Know: Leverage existing knowledge and experience to reduce risk and increase the likelihood of success.
  • Clarity Through Action: Clarity emerges through moving and taking action, not through waiting for perfect ideas.

Notable Quotes:

• "Ideas are the enemy of your focus. Ideas will never build a multimillion-dollar company." ([13:24])
• "Clarity comes in motion. But clarity can never come through chaos." ([13:24])

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6. Embracing a Growth Mindset

Audience Question: "If we’re reading your book, what chapter would you say you’re on right now and why?" ([18:06])

Candy’s Response: Candy reflects on her personal growth journey, emphasizing that she is always in pursuit of growth and contribution. She highlights the importance of resilience and continuous learning.

• Key Points:
  • Continuous Growth: Embracing a mindset of perpetual growth and contribution.
  • Learning from Failure: Valuing lessons learned from failures as much as from successes.
  • Future Vision: Planning for the next 25 years to expand impact through charities and financial literacy.

Notable Quotes:

• "You're either growing or dying. I am in a pursuit of growth and contribution always." ([18:22])
• "Women actually can do money better. So why did we never have a book on wealth from a female until literally now?" ([21:18])

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7. Insights on Wealth and Financial Literacy

Candy’s Final Thoughts: Candy passionately discusses the need for authentic financial literacy resources, particularly those authored by women. She critiques existing money gurus for not practicing what they preach and expresses her commitment to providing real, actionable financial advice.

• Key Points:
  • Authentic Financial Guidance: Providing genuine financial literacy without empty promises.
  • Women in Finance: Highlighting the superior money management skills often exhibited by women.
  • Accessibility: Making wealth-building strategies accessible to everyone, regardless of background or privilege.

Notable Quote: "There's never been a book on financial literacy and wealth from a female until literally now. There are a couple other money books out there, but they have a different approach." ([20:50])

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Conclusion

Candy Valentino’s live Q&A session offers invaluable insights for entrepreneurs and investors. From teaching children the value of contribution to maintaining focus amidst numerous distractions, Candy provides practical advice rooted in her extensive experience. Her dedication to fostering a growth mindset and authentic financial literacy underscores the essence of her mission: empowering individuals to build sustainable wealth and achieve financial freedom.

Final Quote: "Most people won't get there, but it still doesn't keep us away from the real truth, the real information." ([21:39])

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Connect with Candy Valentino: Follow Candy @candyvalentino on all social media platforms and subscribe to her YouTube channel to watch episodes and gain more insights into building wealth and successful business practices.

Book Mentioned: The 9% Edge: Life Changing Secrets to Create More Revenue for Your Business and More Freedom for Yourself – Available on Amazon, Barnes & Noble, and local independent bookstores.

Transcript

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[Candy Valentino]

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.

[Audience Member]

Anybody have any questions for Candy that they want to ask?

Do you have any ways where you can teach kids how to contribute? Like steps to Teach a Kid how to Contribute.

[Candy Valentino]

So in the last chapter of the book, I actually have that broken down. Even with conversation starters of what you can say, I think that it's important and obviously if you want to teach them how to do it, it's not going to be as received as if you do it with them. Right? So it's like how can you get involved? I have a couple charities listed in there that are typically related to kind of kids with the kids focus and animal focus because that's typically viscerally what they are drawn to. But it's 10% of your time. Like, I mean, I don't have kids, but I can promise you that if I did every time I went and donated my time, they would be there right with me. That's what I learned with my dad. Like I caught, I wasn't taught business. I caught it by being in that environment my entire life from 5 years old to 16. I would say go with them, get involved in something. And maybe since Christmas is coming up, it's like a perfect opportunity to start. But you can have those conversations and. But I think it first starts with the allocation of money, what you're using it for. And then this is like something we're doing as a family that we're going to contribute this way to. Hope that answers your question.

[Audience Member]

Yeah, I love that. I think, you know, the kids are always going to follow whatever we do, right? Not what we tell them to do, but they're going to do exactly how we do it. And leading by example, you know, being a leader, showing them how it should be done, how we want them to behave is how we should probably behave. You know, it's how we should lead them as the matriarchs or patriarchs of our family. So dude, just take of being intentional on all that stuff. You know, my kids have been too small, I think, to go and you know, donate Time at a soup kitchen or something. But now they're at the age. Now my daughter's seven, you know, my little guy's five. And, you know, I'm like, hey, how can we do more of this, right? Give them the check at the end of dinner and have that. Like, that's one of the things I do with my daughter Penelope. I'm like, hey, P, it's up to you. How much we tipping? She'd be like $100. I was like, we just got coffee, right? Like, I was like, write $100 down and you gotta sign it. And then she signs the check, she gives with $100 tip, she hands it back like, thank you so much. You know, it's like, that's a pretty cool, cool way of getting them involved. So I love it. Any other questions over here, fatty?

It's actually from me, so. Started my first business when I was 24 years old. And there's a lot of people in this room that either just started or thinking about starting their first business. 19 years old is super impressive. But my question is, how long did it take you to see real success so that the people here don't get discouraged if it takes more than a year, two years to see that true success?

[Candy Valentino]

Yeah, it's a great question, and you probably don't want to know the answer. I remember learning this when I was young. Now, granted, success looks different for everyone, right? Wealth is different for everyone. Some people, true success is I just want to make $100,000 a year like that success. Some people are not happy until it's a million. Everybody's different. But I remember hearing I started in a business group around 26, because you had to be doing like 2 million in revenue to be in it. And I remember them saying, like, it's going to take a solid 10 years for you to have sustainable processes and systems in order for the business to be able to be that machine that kind of lives with. And I was like 10 years. Like, I thought this was going to take like three years and I was going to be loaded. And it literally took every bit of 10 years. I mean, I was, yes, I was making money. Yes, it was successful. Yes, we had tons of clients. But for it to have that sustainable processes and systems in place where I didn't have to always be going in for emergencies and urgent things that were kind of like useless of my time, it almost took every bit of 10 years.

[Audience Member]

So tell us about the ride on the way up to 10 though, right? Because a lot of people forget about the fact that it's not what I like to say, it's not the top of the mountain that matters, it's the ride up. If you're not enjoying the ride up, right, 100%.

[Candy Valentino]

I love building business. Obviously I did it for a reason, but I love it to the point where I had my last exit in 2019 and I didn't have to do anything. I was like, finally, I'm going to take some time, I'm going to relax, I'm going to go to the beach, hang out. I think it was what, maybe two months that I was able to do that. Because it's like when you love business, when you love investing, when you love that it doesn't matter what you're doing, it doesn't feel like you're. I don't feel like I work 12, 14 hour days because I love what I'm doing. So I think it's really important to enjoy the process in that journey because it's about who you become. Like, if I wouldn't have had a lot of the challenges that I had when I was younger, I wouldn't have been able to be resilient AF as I was in business, I wouldn't have been able to be relentless when I pursued a goal. And then that just got deeper as we built. So it's all about playing the long game. If that's one mantra that you leave with today, it's play the long game. Your relationships, your business, your investments compound over time. Warren Buffett, when we did the study, he made 97% of his wealth after age 57. After age 57, he was investing for decades. And then boom, it happened. And I wish I could tell you something different. I think it might be slightly lower in this online world because you can get your messaging out. I feel like data is easier to collect when we were trying to do it manually back then. But still, I mean, if you're playing the long game, what the hell does it matter if it takes eight years or 12 years because you're in it. So it's a great question.

[Audience Member]

Guys, we're not doing anything. That's an experiment. You realize that, right? Like, real estate has proven to build so much wealth and business. Like, well, you were sharing stats before. Like, nearly every person who's a multi, multi millionaire has made it either in owning a business or owning real estate. And if they made it somewhere else, then they put it into real estate or into business in order to sustain that wealth. So it's like it will work. It's gonna catch. And many of you, none of us are where we want to be. Like, we're all want. We all have these big ambitions and big growth. I was actually talking to Bill Rancic for a couple minutes, and one of the things that came up is a Jim Rohn quote. And Jim Rhone said something once where he said, can you imagine? Instead of, like, chasing something, he goes, imagine reaching a place in your life where you're both ambitious and content, right? Most ambitious people are not that content. Most contented people are not that ambitious. Can you imagine? Reaching a place like, this is on my goal list. This is like the number one pinnacle of what I want to achieve in my life is like, can you imagine reaching a place of both ambition and content? Can you imagine what kind of place that would be? It's powerful, right? So, like, how do we. How do we become content? I think. I think going on that journey and going on the run up for 10 years and going through all the struggles and the adversities and the difficulties gives you the appreciation, right, to then be content when you do reach that place.

[Candy Valentino]

The other thing, remember, kind of going off of what you said is oftentimes I see entrepreneurs, people in general, like, majoring. And again, I don't know if this is someone's quote, but it's majoring in the minor things. It's like getting all in on these little minutia things in our lives and in our business and focusing on things that are truly insignificant. I use the analogy. It's like if I handed you like, a golf ball after a golf ball. Like, this is, you know, you worrying about this investment. This is you ordering products for your business. This is you having conversations with your staff, and you're trying to hold all of these little golf balls. Meanwhile, there is this big, beautiful basketball that is waiting for you, but your hands are already full. I think it is important to remember that. That contentment with where you are, but remembering that what you actually want could be blocking you from what you can actually have. And I feel that we sometimes focus on this next part and we're actually missing the whole thing. Why it's so important to play the long game, because you don't know what mountain, what peak you're on. When I was 26, I felt like I got to the top of the mountain. 25, I thought I got to the top of the mountain. I was in the fancy groups. We were doing significant revenue. I had made more money than my friends were just exiting colleges with their degrees, and I had made more money than anybody that I had known. But it was a really, really small peak. And if I would have focused on that peak and lost the vision, lost the why that I'm doing it to begin with, I actually would have been less wealth, less successful. But I kept focusing. While I was happy and contributing, I was still focusing on what we could also do. But you gotta eliminate, you gotta drop all those little golf balls that you're majoring in so that you can really get what life is trying to bring you. Which I think oftentimes we don't even know until it's here.

[Audience Member]

Love it.

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[Audience Member]

Candy first of all, congratulations on you know, getting this book out and I really admire you for like you know, doing everything you're doing. I'm very impressed with you as a woman. I actually think. I don't know if I say this enough, but I think women are just incredible in business. I don't know why. They just take care of stuff. I love that.

[Candy Valentino]

Thank you.

[Audience Member]

So what can you say to someone that. And by the way, Trevor did a great intro of you.

[Candy Valentino]

He did an incredible intro. Oh my gosh. I had to bring it to just live up to that.

[Audience Member]

So what can you say to someone that quit their job and so they can start, you know, getting into a business and for whatever reason they can't get through and they're kind of starting to feel like, oh man, maybe I should get a, you know, go back to my job. How do you, how do you, what can you tell to that person that is at that particular time, which, you know, we've all been there at some point. And then two, how do you focus on the things that matter and avoid the shiny object syndrome that we all have? Because I think those two kind of correlate. Right. Like you go and you want to start your own business and then all these people are giving you so many ideas.

[Candy Valentino]

Yes.

[Audience Member]

I'm a true believer on figuring out what your advantage is and just kind of like focusing on that. I just wonder what your take is on all that.

[Candy Valentino]

So first off, ideas are the enemy of your focus. Ideas will never build a multimillion dollar company. It's the execution and implementation of those ideas that will though it's always easy. Entrepreneurs want to ideate. It's like this ADD syndrome that it's like synonymous with entrepreneurs. Ideation isn't going to create wealth, it's going to create distraction. So it's remembering that first. And then you have to have the discipline to not be distracted because we're all going to be wired a certain way. But if we choose right, it's what we choose. We don't want to go to the gym, but we choose to go to the gym because we know it's going to be good for our bodies and our mind and our health. So if you want to build something, every time that distraction comes up, you have to choose not. What I do is a few different things. One, my phone is always on silent, like literally always on silent. There are a few numbers that can get through for an emergency. That's it. It is on silent and upside down and within my reach when I'm focused on something because I am not going to allow somebody else's agenda, their issue, their text, their email to distract me from what I need to do Now. It's kind of difficult to create friendships sometimes with that because you don't get back to people for Over a week. But the only way I could actually write the book was to literally go all in and focus and nobody could get my time. Not that I didn't want that, but I had to do that or I would have never written the book in the amount of time that I had. So that's key. It's a discipline and a choice. Anyone that is starting in business and you're not getting where you want, I want everyone to remember this. It's not you, it's not you. It's not your worth, it's not your ability. It might be the industry, the business, the timing, the location, entrepreneurs who have that fire, that drive. You're always going to find your way as long as you don't let that fire go out. But sometimes we don't have the discernment in the beginning to find the right business at the right time, in the right industry, in the right location. Any one of those things off would be detrimental. When I started my first business, we didn't have a ton of competition. So I went hard and down to be able to like be the pioneer in that space. Then when I saw, oh my gosh, I have all these people that want to know what jewelry I have on and what lip gloss I want on, I'm going to develop products to sell them, because why would I sell them someone else's products that they're making money on when I can build my own name on my own products and have a higher profit margin? So it's all about learning. And if you sit and wait to have the perfect idea for the perfect business, you're just going to be sitting and waiting. Clarity comes in motion. But clarity can never come through chaos. That's why it's so important to get clear and stay focused. I would also say in the book there's a little framework. And it is anyone that wants to start a business or a side thing, or you have investments and now you want a business because you know that 75% of all the wealthiest people have also businesses. Four things. The success. It's the business success roadmap. What do you already know? What do you know? What do you have experience in? Right. What is there a market that people will buy, which there's pretty much a market to buy anything. What exactly do you have the experience in to deliver or can wrap up something in? And then finding that customer, we oftentimes over complicate business. We wanna find a business or do a laundromat or do this thing because. But like, that takes capital. It Takes focus. It takes a little bit of discernment to know the area. Is it going to work there? Is it not? And then that's where you have a lot of risk, but you never risk what you know. So obviously it's not the best way to build wealth long term. But in the short term, stick with what you know. Stick with what you know. How do you take a product or service around that? Anyone can literally, I always say, $1,000 in a weekend. Anybody can do it because there's upwork and fiverr and all types of freelancer ways or buying products, flipping products, even. That takes a little bit of research. But you know something and you can deliver it in a different way or market it in a different way than anybody else has. So I think that that's kind of a little bit of clarity. But always remember, it's not you. It's either the industry, the model, the timing, or the location.

[Audience Member]

That was a banger.

[Candy Valentino]

Thanks.

[Audience Member]

But, yeah, thank you so much for taking the time to spend with us today. Thanks so much for Tim for building the machine to make this all possible. But I did. I was curious about one thing. Now you told us all about wealth habits. Congrats, by the way.

[Candy Valentino]

Thank you.

[Audience Member]

But I'm curious about candy. Right. Like, if we're looking at the book of Candy and reading this actual book, what chapter would you say that you're on right now? And why would you title it that?

[Candy Valentino]

Oh, that's deep.

[Audience Member]

That's a good one.

[Candy Valentino]

That's a great question.

[Audience Member]

This is gonna be the last question, by the way.

[Candy Valentino]

Yeah. You know what? I feel like you're either growing. It's a Napoleon Hill. You're either growing or dying. I am in a pursuit of growth and contribution always. It's when I'm the happiest. It's when I feel the best. It doesn't even matter if the growth part is a success because I tend to learn far more in the no's and in the failures than I ever did in any of my successes. I feel like. I feel like I'm only scratching the surface. Like, I feel that my life has been so much grind and grit and run. That's why I can speak so easily to majoring in those minor things and holding all those golf balls because I did it for so long and I know so many entrepreneurs that I work with do the same. I wouldn't trade it for the world because of what I learned. I'm so interested now to take all I've learned, throw it in a book and then not only be able to help other people do it, but now almost like reset for the next 25 years. Like, what I've done is the 25 years to get here, but what's it going to look like in 25 years more? How many charities can I help? How many people can I serve? How many. Financial literacy. There was never a book about financial literacy and wealth from a female when I was a kid. It was Robert Kiyosaki, it was David Bach. And all the stats show that money actually is. This isn't my opinion. Don't come at me. That money is actually managed better by women than men. We don't know the exact reason why, but it's actually just the truth. It's a fact. I don't know if there's an ego we actually tried to dive into why can't find that out maybe for the next book. But women actually can do money better. So it's like, why did we never have a book on wealth from a female until literally now? There's a couple other money books out there, but they have a different approach. Here's the thing. I don't ever want to stand on stage or talk to somebody and get you to a place where you have to live on Social Security benefits. A lot of people, gurus, speakers, whatever you want to call them that are talking about money are just trying to get people to not be broke. But they themselves never used their own teachings to get where they are. And I hope you're tracking me. I'm not throwing out names, but there's a lot of people that talk about money.

[Audience Member]

We all know exactly who you're talking.

[Candy Valentino]

About, by the way, that talk about money, but they themselves didn't do that to be worth hundreds of millions of dollars. And that's gotta stop. How about we share with people the real shit? We tell them exactly how to do it, Understand? Most people won't get there, but it still doesn't keep us away from the real truth, the real information. So I love that question. And what I'm super excited about is how many little kids, little girls, little boys that get their hands on this book. How many people gift it to other people and realize that you don't have to be the most educated, you don't have to live in a really big town, you don't have to come from the best parents. You don't have to have a ton of privilege in order to build wealth. Anyone can do it, even from this girl from a trailer back in Pennsylvania.

[Audience Member]

Let's give her a round of applause.

[Candy Valentino]

Thank you. Thanks so much. Oh, I love it. Thank you. Hey guys, thanks for tuning in to this episode. And if there was something, something that you loved or you had a specific takeaway, share it and tag me at Candy Valentino.

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[Candy Valentino]

You can pick it up anywhere books.

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[Candy Valentino]

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[Candy Valentino]

Thanks so much for tuning in and.

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Spending this time with me today, guys. We'll see you next time.

[Candy Valentino]

Former Navy SEAL Sean Ryan shares real stories from real people from all walks of life on the Shawn Ryan Show. Former US Navy Admiral Tim Gallaudet. How did you get involved in this whole UFO thing?

[Sean Ryan]

One day I get this email on the Navy Secret Network. If any of you know what these are, tell me ASAP. F18 pilots captured video of this UAP zorching over the water. Just a little round sphere. And so I knew right there that was something not ours.

[Candy Valentino]

The Sean ryan Show on YouTube or wherever you listen.