How to Fail Well - Episode 2 - Kandy Life Podcast

How to Validate a Business Idea – Episode 3

Episode Description

Kay and Andy discuss how to turn your good ideas into a business that makes money. They talk about the process they use to take a business idea they have and validate to see if it is worth taking action or worth spending time and money on it to develop it into a moneymaking business.

Not all ideas make money. Not all moneymaking ideas produce a living for a couple or make a lot of money. So you’ll need to learn how to weed out the great ideas from the good ideas is critical. We discuss how in this episode.

Show Notes

In our businesses, we use a series of online tools to test to see if a business concept has search traffic on the Internet. If it does it’s one piece of evidence that supports a decision to move forward and develop it.

AHREFs

One of our top go-to business validation tools is a web tool called AHREFS at http://ahrefs.com. This tool is a subscription-based web service that lets you search for keywords that someone might type into a search engine at Google. A trial working demo is available for $7 for a week. Monthly will run you a minimum of $99/mo. That said it is a killer research tool. It will show you how many people search the web each month for keywords you define. So in the episode, we talked about Kay’s web project to help clinically depressed people recover from their illness. On AHREFS the keyword “depression” has monthly traffic in the world of 164,000. But the competition to win that keyword on Google (top 10 results for the keyword depression) is massively high. But if you search for the term “I have crippling depression” you’ll see that 24,000 people per month (worldwide) type that into Google. And to win that term, it’s pretty easy if you had a website that was optimized for the phrase. It was discoveries like this that lead us to develop http://mydepressionzone.com, however just because there is traffic doesn’t mean that people are buying. But this tool is a very valuable way to validate if a business idea might be worthy of the chase.

Google Trends

Google Trends is a free tool that lets you search to see what keywords are trending on Google. Access it here at: https://trends.google.com/trends/. Try search “impeachment” to see how that word plays out in late 2019, early 2020 as the trial for Donald Trump gets underway in the U.S. Senate.

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How to Fail Well - Episode 2 - Kandy Life Podcast

How to Fail Well – Episode 2

Episode Description

Kay and Andy discuss how failure is a critical part of success.  A lot of couples are terrified of failure. What if the business doesn’t do well? What if it does and then it falters? What if we run out of money? 

All successful business people experience some level of failure, whether it is having a bad year, losing key customers, or running into a cash flow crisis. Sometimes a great idea eats all your resources and produces little in the way of profit. Some businesses do well and then they are buffeted by competition. 

In this episode, you’ll learn an empowering way to approach failure. What to do. How to do it. How to manage fear and anxiety and what failure can teach you in the pursuit of success.

  • 2.27: The No.1 barrier that stops most people from starting their own business
  • 3:42: How one failure can derail future success. Andy shares about a client he’s working with and shows how to reframe failure in a more empowering way
  • 4:38: The school of life MBA process. Tim Ferriss’ advice on one of the best ways to become successful in business
  • 6:05: How to overcome a catastrophic business failure. Andy and Kay share the story of when they couldn’t afford to buy diapers for their 6-month old and what they did to get back on track.
  • 13:17: The best way to keep money flowing as a business owner. A key principle to stick to when you pay yourself.
  • 15:02: An empowered approach to failure. How to avoid reactive thinking or taking steps that move you backward instead of forward in business.
  • 20:00: Why failure rocks 
  • 20:36: How Andy and Kay turned their greatest failure into a victory in 30 days 
  • 22:34: How Andy and Kay developed and sold their first line of food products 
  • 26:06: The invaluable skills that being in business provide 
  • 28:28: Advice to anyone who is failing right now!
  • 28:47: A step-by-step process for how to deal with any failure
  • 33:01: Embracing failure. A daily ritual you can use to transform your relationship to failure and recondition yourself to embrace it as a part of your growth.
  • 34:06: How to squash fear of failure the moment it shows up. Make sure failure never gets in the way of the outcomes you want to achieve again.

Show Notes

The 5-Step Kandy Failure Recovery Process: 

  1. Allow yourself to be pissed. Failure sucks. Your biologically hardwired to not like failing. If you feel like shit that’s normal. Don’t try and feel good. The fastest way to get out of any negative emotion is to go through it. Allow yourself to feel it. Once you do, the pain will subside and you will emerge with a clear mind.
  2. Review the metrics (stats, spreadsheets) to ground yourself in the reality of how the failure played out. Ask yourself: Why did this happen? What was I doing well/not doing well?
  3. Brainstorm the best ideas moving forward to decide on the best plan of attack. Any personal happiness trades-off should be short term (ie. taking a job of three months to make enough money to stabilize your business and household). Ask: What do I need now? What are my immediate needs to get out of this crisis? What’s a smart way to approach this? Consider multiple options. Ask other people if you need to. Tap into your community. More minds can mean more (and sometimes way better) options.
  4. Decide on next steps then get in action.
  5. Once you start to gain traction and feel better take a moment to look back and celebrate your failure. See it as a part of the evolution of your business and you. This is a critical step. But sometimes it takes time to get over your initial emotional reactions and start fixing what’s been damaged to see why it was good. So give yourself time.

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Our Origin Story – Episode 1

Kandy Life podcast - episode 1

Show Notes

“We were both in the mindset of, ‘let’s create our lives. Let’s not be victims. Let’s not suffer and work any jobs we hate.’” – Andy Walker

Move aside Kimye (Kim + Kanye), here comes Kandy (Kay + Andy). This power team runs a digital marketing agency, a tropical fruit company, a warehouse manuals business, and among numerous other things, a book writing operation from home, where they can usually be found working in their pajamas. 

The Kandy Life is an approach to living that happens when two entrepreneurial-minded individuals team up in love and business and decide life will be on their terms. Together, they run a household and build a life where each person is passionate about what they do, and where they both have time freedom, creative autonomy, and control of their financial destiny. As a team, they support each other to realize both personal and shared dreams. They build a life beyond what they each could alone.

Episode 1 explores Kay and Andy’s origin story and prepares you for what you will learn listening to The Kandy Life podcast. 

  • 1.26: What it’s like to live the Kandy Life. And how the couple agrees that one major benefit is working from home in your boxers.
  • 2.55: Running automated income streams and service-based businesses under one roof. The various businesses Kay and Andy run today and how they got here
  • 7:09: The Kandy love story. Find out how Kay and Andy became Kandy, and how the unique environment where they met has massively contributed to their success in business and love 
  • 10:24: The cornerstone belief that shapes the Kandy Life approach 
  • 12:15: How to pivot from a 9-5 job to running your own business. Kay’s transition from a successful event planner working for a company to a self-employed copywriter 
  • 14:37: The critical skills you need most today to step out on your own
  • 16:03: Why to be skills-focused when pivoting
  • 23:47: Kandy’s dream for listeners of this podcast
  • 24:46: The game-changing key to any business’ success. And the element other business podcasts are missing that you’ll get here
  • 26:10: Why the name ‘The Kandy Life’?

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