Matt emphasizes that for productivity and business growth, mindset comes first—before strategy and tactics. Without the right mindset, even skilled people are likely to fail. He observed that fast-growing, successful business owners share a distinct mindset that makes everything else easier. Barbara appreciates that Matt breaks mindset into three actionable steps in his book, noting that even with her strong business mindset, she learned new insights. She asks Matt to explain these three key mindset areas for the stop-doing exercise.
The stop doing list – part one: The essential mindsets you need to unlock your entrepreneurial freedom and ultimately ‘stop doing’
Virtual Success Show
Want the transcript? Download it here.
Episode breakdown
In the first episode of our three-part special, our very own Matt Malouf, author, business coach and co-host of the Virtual Success Show, talks us through his recently published book, The Stop Doing List, and the importance of adopting several specific mindsets in order to gain more time, more profit and more freedom in your business. During this episode, Matt explains to listeners the importance of stepping out of your comfort zone and letting go of negative mindsets in order to adopt the essential positive mindsets to ultimately ‘stop doing’.
- The importance of mindset, before strategy, before tactics
- Realising when you have stepped too far out of your comfort zone and how to reign it in
- Being aware of common negative mindsets and how these are holding you back from business success
- The five essential mindsets specific to ‘stop doing’ which will ultimately unlock your entrepreneurial freedom
Saying no and being laser focused on what we are doing in the business means you make more money and are less stressed.
In this episode
00:00 - Introduction
Barbara and Matt discuss the importance of managing energy and staying within a productive comfort zone. Matt shares that taking a “recovery week” helps restore energy after busy periods, while Barbara reflects on pushing herself beyond her comfort zone and the emotional challenges it brings, noting that being too far outside it for too long can be draining.
01:51 – The Stop Doing List book
Barbara introduces Matt’s book, The Stop Doing List, highlighting its valuable insights and announcing a three-part series: Part 1 covers the mindset needed to start the stop-doing exercise, Part 2 focuses on creating and unpacking the stop-doing list, and Part 3 teaches how to actually stop doing tasks effectively. She emphasizes the importance of mindset, particularly around comfort zones, as the foundation for this process.
03:25 – Mindset, before strategy, before tactics
05:00 – Three key areas of mindset
Matt explains that growth requires stepping out of your comfort zone, but it’s important to distinguish the zones: the comfort zone at the center, the learning (or earning) zone just outside it, and the panic zone beyond that. Going too far into the panic zone can overwhelm and paralyze you. Barbara relates, noting that overstepping her comfort zone caused stress and self-criticism, and she appreciates the concept of the learning zone as a manageable space for growth. She asks how to recognize when one is in the learning zone versus going too far.
07:00 – Signs you’ve stepped too far out of your comfort zone
Matt explains that when you’ve pushed too far into the panic zone, progress stalls, stress and procrastination take over, and you may even regress. The way forward is to return to your comfort zone to reset, then break tasks into smaller steps to re-enter the learning zone—where you can grow with manageable fear as motivation. Barbara relates personally, noting she often overextended herself in the past, but using this strategy helps her plan, step back when needed, and progress steadily without overwhelming herself. She then asks about the other two key mindset elements.
09:30 – Four most common negative mindsets
Matt highlights four common negative mindsets that hold people back: believing others can’t do tasks as well as you, reluctance to give up control, thinking you can’t afford help, and feeling you don’t have time to implement changes. He stresses that becoming aware of these patterns is crucial for progress, and the book provides examples of these mindsets before introducing the five essential positive mindsets for growth.
10:47 – Essential mindset #1 – Learn to say ‘no’
The key mindset discussed is learning to say no. By protecting your time and focusing on core business priorities, you can increase both profitability and personal freedom. Barbara shares that adopting this approach made her happier, less stressed, and more successful, allowing her to later say yes selectively to opportunities that truly complement her business.
12:05 – Essential mindset #2 – Less is more
The mindset emphasizes that less is more: focusing on fewer, high-value tasks done well, rather than trying to do everything. By delegating lower-value work and slowing down strategically, entrepreneurs can increase both profit and freedom, avoiding the common trap of overworking and stress.
13:48 – Essential mindset #3 – Investment vs expense
The third essential mindset is viewing people as an investment rather than an expense. While hiring and training take time and money upfront, the right team will ultimately generate dividends, create freedom, and scale the business. Seeing team members as a cost can lead to micromanagement and self-sabotage, whereas treating them as an investment encourages proper onboarding, training, and long-term growth.
17:18 – Essential mindset #4 – Adopting the 80/20 rule
The fourth essential mindset is applying the 80/20 rule, focusing on the 20% of tasks that generate 80% of results. Many business owners spend too much time on urgent but less important tasks. This principle also applies to delegation: instead of fully abdicating a task, business owners should delegate 80% while maintaining 10–20% oversight for guidance, feedback, and training. True delegation requires involvement, not complete hands-off control.
19:30 – Essential mindset #5 – Don’t sweat the small stuff
The final essential mindset is to not sweat the small stuff. Many tasks entrepreneurs handle have minimal impact on the business, and mistakes are part of the learning process. Allowing your team to learn and grow, without over-focusing on perfection, reduces stress, increases freedom, and ultimately supports business growth. Barbara adds that running a business “from a place of quiet”—focusing only on what truly matters—prevents unnecessary stress and keeps energy directed toward the important things.
21:50 – Wrapping things up
Matt emphasizes that the book begins with mindset because without stepping out of your comfort zone, letting go of negative mindsets, and adopting essential positive mindsets, the rest of the book—creating and implementing a stop doing list—won’t be effective. Barbara agrees, noting that self-reflection is crucial before moving to the practical steps. They wrap up by highlighting that part two will focus on creating and unpacking the stop doing list, and they encourage listeners to visit stopdoing.com.au, subscribe to the show, and join their community for more insights.
