Every month we put together an income report to share a behind-the-scenes look at the ups and downs of running a 7-figure business. In full transparency, it’s not easy – but it IS possible. Through hearing about our mistakes, lessons learned, and our wins, we hope to inspire and motivate you to take action in your business with just one step forward every single day. For our full income report, visit EOFire.com/income75, and IGNITE!
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Resources
CPAonFire.com – Accounting, Tax & CFO Services for Entrepreneurs.
LizerbramLaw.com – Reach out to David today!
3 Value Bombs
1) Doing a dinner the night before we kicked off helped them feel more comfortable – like they already knew one another come mastermind time.
2) You have to make it a point to not just spend time with people, but to be PRESENT when you do.
3) Setting boundaries is the fastest way to freedom!
Sponsors
F45: F45 is one of the world’s fastest-growing fitness networks, and they’re inviting YOU to join them. Inquire today about owning your own F45 Franchise at F45invest.com/fire!
ClickFunnels: Ready to build your first sales funnel without having to hire an entire tech team to help? With ClickFunnels, you can! Visit EOFire.com/click to start your free 14-day trial today!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[2:08] – Income review from JLD
- Gross Income for Nov: $146,249
- Total Expenses for Nov: $38,781
- Total Net Profit for Nov: $107,468
- Difference b/t Nov & Oct: -$48,886
- % of net profit to overall gross revenue: 73%
[3:54] – Monthly tax tip from CPA On Fire, Josh Bauerle
- Should you pay your spouse a wage?
- Paying your spouse may actually cost you more.
- The wage you pay to your spouse will be considered as a payroll, so you would then have to pay payroll taxes.
- Visit CPAonFire.com
[9:48] – Monthly legal tip from our Legal Counsel David Lizerbram
- Who Should I Ask to Sign an NDA?
- Anyone who’s going to be exposed to your company’s confidential information should, ideally, sign an NDA.
- Almost all information you share with an attorney is already privileged and confidential, there’s no need to have the attorney sign an NDA.
- Questions? Reach out to David today!
[13:32] – What went down at the Entrepreneurs On Fire studios in November
[13:56] – Knowledge Business Blueprint Bonus Mastermind
- What is KBB, and how did we get involved in the launch?
- John gives an overview of our involvement.
[15:00] – Kate breaks down affiliate partnerships
- In February 2019 we teamed up with Tony Robbins and Dean Graziosi as affiliates for the launch of Knowledge Business Blueprint
- John and Kate hosted 35 people during the mastermind and the energy was so HIGH!
- Biggest Takeaways from Hosting our KBB Bonus Mastermind
- The Lead Up
- Comfort + Connection
- Logistics
- Your Energy
- Switching Things Up
- Above & Beyond
- A teaser from Kate for a potential upcoming mastermind!… tune in!
[27:56] – Thanks to our sponsors, F45 and ClickFunnels!
[32:19] – Family Time
- John’s family visited PR for 2 weeks.
- By the time you leave the house at 18, you have spent over 80% of the time you will ever spend with your parents.
- John cleared his calendar for 2 weeks and made sure that he got to spend quality time with his parents.
- Spend time with your love ones.
[36:34] – Mastermind x2 at Casa Roble
- John and Kate were honored to be invited to participate in a peer-to-peer mastermind with some incredible entrepreneurs in the online space in their own backyard!
[42:10] – Income breakdown from JLD
- Gross Income for Nov: $146,249
- Total Expenses for Nov: $38,781
- Total Net Profit for Nov: $107,468
- Difference b/t Nov & Oct: -$48,886
- % of net profit to overall gross revenue: 73%
[45:12] – Our Biggest Lesson Learned in November: Setting Boundaries
- It’s up to YOU to choose how you spend your time.
- Kate shared a great book by Tonya Dalton called The Joy of Missing Out
- Think about the boundaries you’ve set in your life. Start brainstorming how you’re going to give each role in your life the opportunity to shine.
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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