Young and Profiting with Hala Taha - YAPSnacks: 2021's Secrets To Profiting In Life - Purpose, Priorities and Balance | Part 1

Episode Date: December 31, 2021

Learn how purpose, priorities, and balance can help you profit in life! Over the course of 2021, we have chatted with sleep scientists, best-selling authors, FBI agents, fortune 50 CEOS, and even movie stars. After every interview, they are all asked the same question… “What is your secret to profiting in life?”  And when we say profiting, we mean more than just making money, we want to learn how to profit in all areas of life! The YAP team has dug through all of 2021's episodes and evaluated if common themes came up in our guest's responses. There were two core themes that surfaced. The first was understanding your purpose to clarify your priorities, and we cover that in today's episode. The second was using love and service to profit in life, which we will tackle next week! Let’s rock the beginning of 2022 together by learning the secrets to profiting in life!  Sponsored by -  Athletic Greens - Visit athleticgreens.com/YAP and get FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase. Nearside - Go to nearside.com/yap to sign up for your Nearside Business Checking account! Jordan Harbinger - Check out jordanharbinger.com/start for some episode recommendations. StoryWorth - Go to storyworth.com/yap and save $10 on your first purchase! Pepsi - This episode is brought to you by Pepsi! Social Media:  Follow YAP on IG: www.instagram.com/youngandprofiting Reach out to Hala directly at [e-mail] Follow Hala on Linkedin: www.linkedin.com/in/htaha/ Follow Hala on Instagram: www.instagram.com/yapwithhala Follow Hala on ClubHouse: @halataha Check out our website to meet the team, view show notes and transcripts: www.youngandprofiting.com Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode of YAP is sponsored in part by Shopify. Shopify simplifies selling online and in-person so you can focus on successfully growing your business. Sign up for a $1 per month trial period at Shopify.com-profiting. [♪ Music playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background, playing in background,, a series of bite-sized content hosted by me, Halataha. Sometimes on Yapsnacks, I dig deep on a certain hot topic like NFTs or Web3.0, and I'll try to unpack these super complex topics into a short episode.

And then sometimes I'll recap episodes that I'll talk about a certain topic, like I'll take four episodes that talk about negotiation, I'll pull out the best of the best clips from all those different episodes, and I'll put them in one summary episode for you guys to digest and take away all the main things that you need to learn about negotiation. And then sometimes I'll do something totally unique and different. And that's the case for this

episode. This episode is in celebration of the new year. 2022 is coming up on our heels. And as you guys may know, the last question I ask every guest on my show for almost the last two years now is what is your secret to profiting in life? And when I say profiting, I make it clear that this is not just about money and young and profiting podcasts is not just about making money. It's about profiting in every aspect of your life, your personal life, your professional life, your financial life, your social life. And since my guests don't know I'm asking this question, unless I listen to my show on their own accord, I usually get their first gut reaction when it comes to what they think

the secret to profiting in life is. And that can be so powerful. I interview such impressive people, best-selling authors, Fortune 50 CEOs, and even movie stars like Matthew McConaughey. So I asked all these different people their secret to profiting in life, and I asked my app team to dig through all these episodes. I said, please pull out their responses, let's transcribe them, let's put them all in one dock, and then let's evaluate and see if any common themes come up.

And some things became apparent quite quickly. When it comes to the secret and profiting in life, there was lots and lots of talk about knowing your purpose. And with your purpose, you can have clear priorities and what you love, what you believe in, what you're going to spend your time on, who you serve. And then as you go about fulfilling your journey, you have to make sure you enjoy that never ending journey as you go about fulfilling your purpose. You've got to enjoy the time.

It takes to fulfill your purpose and the ups and the downs. And then also to not forget to ultimately spend your time wisely and live a well-balanced life. That's not just all about making money. So that was like one distinct set of themes that I found in all of these responses. And then the other distinct set of themes was really about love and service.

So there was lots of talk about love and service for yourself, love and service for your network. And we'll talk more about that on the next YAHSNACS episode. So the first theme that I came across was really trusting the process. 2021 was a great year for young and profiting and YAP media, and for me personally, I landed the cover of podcast magazine in January that set off the year phenomenally.

I quit my job in February. I became a full-time entrepreneur. I tenxed my revenue at, yeah, media. I went from two clients to almost 20. I grew my team to 60 team members around the world. I dominated Clubhouse in its prime months. But that's just the highlight reel. There were ups and downs.

Trust me, there were client fires, there were failed projects, wasted money, major mistakes, good employees leaving my company that I was pretty devastated that they left. And when you're chasing after a goal or a dream, it can feel like the world is moving at high speeds. And things don't always go according to plan. We're always scrolling on social media,

seeing people's highlight reels, and we don't realize that behind all the success, there's lots of failures. Cheating a dream is scary, but a common theme that my guest brought up is the importance of enjoying the journey and the process and not just the ultimate outcomes. In episode number 128, Tiffany Bova,

Global Growth Evangelist, author and speaker, perfectly encapsulated the importance of having patients while experiencing growth. Trust the process. Trust the process. It's a short answer, but I gave you a lot of history on my career, had I thought that a lot of history on my career. Had I thought that I had to stay one place and move up and trust the fact that was going

to happen or did I bet on myself and change jobs, not always moving up. Sometimes it was lateral, sometimes it was down. Ultimately, I had to trust the process. When you're young, you have no patience, you want it to be done, you want it all to be, you know, perfect and ready. And as you get a little bit older, you realize that's rarely if ever possible. So you have to trust the process that even if you try and fail, you will have learned something, right? You either win or learn.

You never lose. So, you know, I'd say trusting the process is absolutely the best piece of advice I can give anybody. Tiffany is so right. Even though we all know that success isn't a linear line, we still expect that it looks this way once we're in the trenches. And because this reality isn't going to meet our expectations, we feel like complete failures when we don't see our results fast enough. It's really destructive to think this way. It's a results-oriented mindset. And when you value the results more than the process, you experience more emotional highs and lows. Legendary podcaster John Lee Dumis agrees in episode number 96 when he answered the question by simply saying the secret to profiting to life is perspective.

Perspective. Because if you have the right perspective, you know that you're winning in the moment right now because things could be so much worse. Like, yes, things could be better for all of us, but they could be so much worse. So perspective. Perspective is key because if you allow every success and failure along the way to control how you feel about your effort, it's going to be a bumpy ride. You always have to remember that successes and failures will inevitably happen. And the good news is if you start trusting the process, you'll no longer let the results validate your feelings. You'll start to understand and accept that setback and failure is a part of your journey. And you experience these swings in a much milder way. As a new entrepreneur, I was so blessed to hear this advice early on in the year.

I always try not to be on either end of the extreme. I try not to get too too excited when things are going great. I landed a huge deal. I made a lot of money or I got on the cover of a magazine. And I also try not to get too, too bummed out if something doesn't work out. If a client wants to leave or if an employee leaves the company, I don't go to the extremes.

My team needs a steady leader. And I've learned that being even killed allows me to think more clearly and make the right decisions for our business. So being even killed allows me to think more clearly and make the right decisions for our business. So being even killed and trusting the process is so important. And if you've been listening to YAP over the years, you may be familiar with Chris Voss. He's the world's leading negotiation expert and a former FBI agent.

He recently came back on the show for episode number 144, and during it, he revealed his secret to profiting in life is also to zoom out and appreciate the journey. And I was just thinking about it earlier today. I mean, probably two things. Yeah, it's a journey. Look, it's just a journey. Take your eyes off the destination and focus on a journey. And then whatever you're into, it's got to be something

that's larger than you. And so if there's something you're dedicated to, that you're pursuing that's bigger than you, life is going to be enormously rich. And this ties in nicely to the second major theme I came across after evaluating all the responses to the question, what is your secret to profiting in life, and that is finding purpose to fuel your priorities. It's a question as old as time. What is my purpose in life? Research shows that finding your purpose is linked to living longer. Researchers surveyed nearly 7,000 older adults on the relationship between mortality and finding your purpose. Participants who did not have a strong sense of meaning in their lives

were more than twice as likely to die prematurely as those who had figured out their purpose in life. It is no wonder that purpose was another reappearing topic that many of my guests told me was their secret to profiting in life. Venture Capitalist and Shark Tank TV personality Matt Higgins, an episode number 145, says that to be profiting in life, you need to be intentional. You need to know your purpose, so you avoid looking back one day and feeling regretful of your life. He often thinks about his death and what he wants rain on his tombstone or said at his funeral

to help him define his values and his true purpose in life. I really think it's being intentional. I think that if you look at what's one of the worst emotions we go through, it's not anger, it's not sadness, it's regret. Because it's the one self-inflicted emotion that you can completely avoid. And so the antidote to regret is intention. So I think the secret for me profiting in life is I'm always working backwards from my deathbed and my epitaph. What do I want my epitaph to read and what am I going to feel in my deathbed?

Let's hold that thought and take a quick break with our sponsors. Young and profitors, do you have a brilliant business idea but you don't know how to move forward with it? Going into debt for a four year degree isn't the only path to success. Instead learn everything you need to know about running a business for free by listening to the Millionaire University podcast. The Millionaire University podcast is a show that's changing the game for aspiring entrepreneurs. Hosted by Justin and Tara Williams, it's

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Go right now for 50% off your no risk two week trial at trinom.com slash app. That's trinom and om.com slash app for 50% off trinom.com slash app. Vernon Myers is also someone who knows her purpose and goes after it as the VP of inclusion strategy for Netflix and the CEO of her own diversity and inclusion training company. An episode number 108, she broke down while aligning with her purpose was a key factor to her success. And that's sometimes you need to be ready to say no to other opportunities

to make space for what you really want. I have several, but the one I'm going to go with is alignment and what I mean by alignment is really looking for the messages in your life to sit down. What has my life been saying to me about what the purpose is that I can serve on behalf of others and you you know, when you do it, you start to say, oh, there, there was that. And then there was that. And there was that. And you start to see that commonality. And you start to say, how do I align all of that I am doing to that purpose in my personal life, in my work life, in my friend life, in the ways that I volunteer,

because when you've got all sorts of things going on, you're often at cross purposes. You're like cancelling out sometimes the good that you're doing. And so I have learned to align, which means you also have to say no to stuff, because you're like, that doesn't actually go. But once you realize, you know, and you try to say where your vision is and you understand your purpose, opportunities come by and you're like, oh, grab that one because that's part of the flow. And that's the other piece I would say,

align and help you get into flow. What it also does is it helps you say, no to things that might be great, they may be great, but they're not in the flow. When you get in the flow, there's a certain kind of efficiency, there's a certain kind of profitability, and then it just keeps feeding on itself. You feel good inside, you're projecting clarity to folks, you are attracting more opportunities and you're letting go so much the secret is Let go as quickly as you can like stay with reality. We spend so much time saying why isn't it like this? Can't believe this happens to me. I don't know why she treated me like there's a lot of that going on that

Takes up a lot of energy. It is what it is You don't have control over everybody. You have control over nobody, except yourself. So what's your flow? What's your purpose? How you giving back? Why were you brought here? And then how are you going to keep unfolding and evolving?

What Verna said reminds me of this quote, if you don't stand for something, you'll fall for anything. Purpose is like a compass. It's the driving force you can use to prioritize the actions you will and will not take. And it also amplifies your productivity, because a strong purpose will give you an anchor when things are crazy and chaotic. And when things are great, purpose will give you wings to soar even further.

An episode number one, seven, productivity expert Josh Kaufman concoors. My secret to profiting in life, I think is spending a lot of time being very clear about what I want and what I don't want. That sounds simpler than it is in practice, but I think that we all have a limited amount of time, and energy, and capacity. There are certain things that sound good in the moment, but end up being distractions.

There are other things that sound really difficult or really frustrating that end up being the core of what it is for us to live a fulfilling life, whatever that definition is for you. And so I think spending a little bit more time in that headspace, like, what do I want right now? And why do I want those things? What am I doing to get those things? And what am I ignoring because it's just not important enough for me? The more you have a very clear image of that in your mind,

and the more that you update that over time, because we change as people, like our situation changes, our values change, because we change as people, like our situation changes, our values change, our priorities change, like keeping really up on like what you're doing and why in this moment right now in your context, the more you do that, the better decisions you'll make, and the more effective you'll be at doing the things

that are necessary to move you in the direction you wanna go. And back in episode number 146, Charles Duhig, Habit Master Extraordinaire, and one of the most popular authors in the world also agrees that knowing what you want helps you make better choices. You know, I think that in general, one of the things that the research tells us

and that I've definitely found in my own life is that the more we give ourselves time to think deeply about the choices that we're making, the more we make better choices. And so one of the big questions is to ask yourself, you know, am I spending time on the things that actually matter to me? Or if I simply got into an autopilot mode, we're like, because I have 30 emails today, I'm going to spend an hour and a half doing emails. And of course, if you spend an hour and a half doing emails,

you're gonna have 40 emails tomorrow. It is natural to get into a place where our habits take over, and we stop making decisions because it's easier not to make decisions. But the most successful people are the ones who force themselves to make choices every single day.

Because of course, the most important choices you can make is, what am I gonna to spend my time on it and when am I going to say no to? We know purpose is important, but it can be hard to always stick to it. At times, our purpose can feel unpopular or difficult. Our family, our friends may be against it. And in episode number 117, Trent Shelton, former NFL player and founder of the nonprofit rehab time, spoke to me about following his purpose, even when it seemed hard. I got to go with understanding what truly matters to you, who matters and what matters.

In saying that, that is a branch off of the tree of fulfillment. Fulfillment is everything. When you do the things that truly fulfill you, then you are having abundance of life holistically. And so focus on that. Don't focus on the things that bring you notoriety, bring you success, bring you whatever. And my definition of success is fulfillment. And so if you can say, man, this is truly fulfilling me, even if it's unpopular, even if it's not the trend, even if you don't get any recognition,

even if you don't get followers from it, you can live a life of fulfillment. That's a great life because that life equals a life of peace. And I think peace is what we all seek for in different forms as we try to navigate this world. So the next thing I came across during the dozens of interviews that I had this year when asking my famous words, what's your secret to profiting in life, was the need to find time for balance and taking time to play the game of life beyond just work and making money.

When we find our purpose, it's tempting to just charge ahead to bury ourselves in our work. And most of us listening to this podcast are ambitious. That's why you listen to a podcast like Young and Profiting. But finding time to do things that make you happy and might not make you money also matters too. This past year, a few guests have left us with the advice that finding a perfect balance in life is a huge factor to your success. I personally really, really need to follow this advice. It's one of the things that I want to work on in 2022 is improving my relationships and finding things for hobbies and doing things aside just working and making money. And so next we'll hear from author, podcaster and time management expert Laura Vandercam. And why

should believes paying attention to where you spend your time can make you more profitable in life? Profiting is having extra, you know, that there's more coming in than what is going out. And I think that this is a good way to think about our time as well, that we have more coming, more think about our time as well, that we have more coming, more available to us, you know, and spending on things we would like to do, than the things that sort of drain us and make us unhappy. And yes, there are things we have to do in life. But even so, like even if you absolutely hated your job and it was

40 hours a week, there are 168 hours in a week. And so if you slept eight hours a night, that's 56 hours per week, 7 times 8, 56, 40 hours for work, we still have 72 hours for other things. And so you could think of yourself as, you know, yes, I have this money time going out for the work that I'm not thrilled about, but I have these 72 other hours that I can do other things with, wow, what a profit, right? Or, you know, maybe I can change the work too. And then, then I look even more profitable because I have even more of my hours that I feel, you know, good about. And when it comes to living a life of balance, you actually need to know what you want. If you're truly happy making, let's say, a hundred K year,

you don't need to become an entrepreneur and work 100 hours a week. Steve Olscher, founder and CEO of Podcast Magazine believes that living a life of balance is all about clearly defining what you actually need versus what you just want. You gotta be really clear on what you want versus what it is that you need. on what you want versus what it is that you need. And what I know to be true is that far too many people will go through life focused on what it is that they believe that they want. And that focus on what it is that they believe

that they want, as opposed to having true clarity on what it is that they actually need, we'll continue to impact them in a way where they're never truly present. And they're always looking at what is potentially available to them, for them, and outside of their existing arena of life, if you will. And so it becomes challenging, right? When you're so focused on what it is that you think that you want, that you forget to really just pause,

take the time to look at what you have and be grateful for what it is that you have, but also to find true fulfillment in what it is that you have. And so the easiest example I can use and share with you here is the biggest difference between having what you want and what it is that you need is like somebody who lives in, let's say, a two bedroom apartment. And they're paying $4,000 a month or whatever it is if you're in Manhattan or wherever it's for a lot more than that, right, but whatever it is for that.

But what you actually need and could very well be happy in is a studio apartment, right? And it's the car that you're paying for that you don't need. It's all these things that you think that you want. And ultimately, the end of the day, all of that ends, let's just say it adds up to $7,000 a month in terms of what your nut is, your expenses, et cetera, et cetera. When, in fact, what you need could reflect nut,

perhaps of maybe just two grand a month, taking public transportation instead of owning a car and all of these things. And that $5,000 difference is ultimately what keeps people living in that perpetual state of having to hustle, having to scramble, having to do more than they actually need to do.

And so that fundamental question of just having clarity around what it is that you want versus what it is that you actually need Can help dramatically and pretty much all of those areas We'll be right back after a quick break from our sponsors Hear that sound young and profitors you should know that sound by now But in case you don't that's the sound of another sale on Shopify Shopify is the commerce platform that's the sound of another sale on Shopify. Shopify is the commerce platform that's revolutionizing millions of businesses worldwide.

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listen to podcasts. Hey, ya fam! As you may know, I've been a full-time entrepreneur for three years now. Yet media blew up so fast. It was really hard to keep everything under control, but things have settled a bit and I'm really focused on revamping

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it cost you to take a one-on-one class from the world's best? A lot. But with Masterclass annual memberships, it just cost you $10 a month. I have to say the most surprising thing about masterclass since I started this incredible journey on the platform is the value for the quality of classes, instructors. The platform itself is beautiful. The videos are super high quality. You can't beat it. Gain new skills and as little as 10 minutes on your phone, your computer,

tablet, smart TV, and my personal favorite way to learn is their audio mode to listen on the go. That way, I can multitask while I learn. Get unlimited access to every class and right now, as the app listener, you can get 15% off when you go to masterclass.com slash profiting. That's masterclass.com slash profiting for 15% off an annual membership. Masterclass.com slash profiting. An episode number 103, Britmarin, the founder and CEO of Britinco, tells us that her secret to living a life of balance and a truly profiting life is to minimize energy draining activities while maximizing energy giving activities.

My secret to profiting in life is to become incredibly aware of what fills me with energy rather than takes it from me. And I think this is a pattern that a lot of people get into where they're habitually doing the same thing every day, and that could be in work or in your home life. And if you critical all of the things that you're doing, I bet you more than 50% of them are energy draining, not energy giving. And so the question becomes, how do you either delegate the energy draining stuff or make that sub 10% and fill your days and fill your life with the things that are energy giving to you because life is short and we don't have time to spend wasting our energy. We should be filling our energy and therefore it becomes contagious to others. And if we're all doing that,

how much better of a world could we create? And now we're going to fast forward to episode number 116 with Netflix co-founder Mark Randolph. He also believes that profiting in life goes well beyond just money and fame and that you've got to find time to live a life of balance. and that you've got to find time to live a life of balance. Profiting a life is balance. You've got to do the things that make you happy in life, because believe, I tell you the answer isn't necessarily money, or fame, or any of that stuff. You have to say what's important to you

and make sure you construct a life that gives you that. And if you don't know what you want, the odds of you actually getting it are extremely remote. And for me, I've always had these three pieces to it. I love being an entrepreneur. I do have to do that. But it's not everything. I've also got a wife and I have three kids and I want to know them and I want a relationship with them. And I've got to make sure I carve out the time to make sure that's important. And as you've also heard, I love being outdoors. And unfortunately, although being outdoors is

incredibly rewarding, it usually is not the kind of thing you can squeeze in between an 11 o'clock meeting and a two o'clock call. You've got to plan and build a life that allows you to get away and do those things. So, and if you can put together the things like that, if you can have that balance in your life, you can have the relationships, the personal fulfillment, and of course, the things that make you intellectually engaged, you are a rich person indeed. You know, so many guests had this sentiment. This need to proactively insert balance in your life. One of the most memorable responses to this question was from author and leadership expert Peter Bregman, an episode number 140 when he related life to a game of monopoly.

About a week ago I was playing monopoly with my kids and it struck me and I've only played monopoly a few times in my adult life. But it struck me, wow, life really is like monopoly. Like you're playing this game and you're making a ton of money and it's fake, but you get buy hotels and things like that. And you could, and you get totally competitive and you could win. You could definitely win. And it's, and like we could totally focus that on life. But in the end, you close the board and you put the money back into the, you know, a little plastic container

and you shut it. And then the question is, what was important about that game? Like, what was the most important thing about that monopoly game? And yes, the competition and the fun and all of that. But it's like, did I enjoy my time with the people I was playing with? Like, did we have fun? Were we engaged? Did I put myself in it, but in a way that like enhanced our relationship instead of storming away saying, you cheated and blah, blah, you know, was it fun? Was I connected with those people? That is the only thing that matters

after a game of monopoly. It doesn't matter who won, right? It's meaningless who won. And to me, I think profiting in life is playing your life like you would play a really successful game of monopoly. Well, there you have it, folks. Part one of my secrets to profiting in life recap series, which uncovers the top themes of the year in response to our last question on every show. What is your secret to profiting in life? And when it comes to being young and profiting, we all know it's about being as productive

as possible. And being productive, I've learned over the years, really comes from knowing your purpose, having clearly defined priorities, not getting stuck in the highs and the lows, trusting the process, trusting the process, if you will. But also knowing that work and money and career isn't everything. Having a healthy mind, having a healthy body, having great external relationships will also ensure that you're super productive when you have to work, and is also the key to

living a fulfilling, young, and profiting life. If you liked this episode, please leave us a five-star review on your favorite podcast platform. You guys can find me on LinkedIn, just search for a name, it's Halataha, and Instagram at Yap with Halataha. This is your host, Halataha, signing off. Are you looking for ways to be happier, healthier, more productive, and more creative? I'm Gretchen Ruben, the number one best-selling author of the Happiness Project. And every week, we share ideas and practical solutions on the happier with Gretchen Ruben podcast.

My co-host and happiness guinea pig is my sister Elizabeth Kraft. That's me, Elizabeth Kraft, a TV writer and producer in Hollywood. Join us as we explore fresh insights from cutting-edge science, ancient wisdom, pop culture, and our own experiences about cultivating happiness and good habits. Every week we offer a try this at home tip you can use to boost your happiness without spending a lot of time energy or money. Suggestions such as follow the one-minute rule. Choose a one word theme for the year, or design your summer.

We also feature segments like, know yourself better, where we discuss questions like, are you an over buyer or an under buyer? Morning person or night person, abundance lover or simplicity lover? And every episode includes a happiness hack, a quick, easy shortcut to more happy. Listen and follow the podcast, Happier with Gretchen Rubin. A blank page holds infinite possibilities. It stirs our passions and is a space to become. Papier takes all the wonder and potential of a blank page and creates premium quality stationary, journals, notebooks, planners, and more.

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