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/income84, and IGNITE!
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Resources
The Common Path to Uncommon Success – Sign up for updates & behind-the-scenes sneak peeks!
CPAonFire.com – Virtual Accounting. Accelerate your growth. Accelerate you business.
Ditch Busy: Make Overwhelm a Thing of the Past! – Tune in to Kate’s podcast where she delivers time management tips twice per week!
TurnkeyProductManagement.com/fire – The Amazon team we’re currently working with; they’re awesome!
3 Value Bombs
1) Take advantage of this time to refocus.
2) A quote from Michael Jordan: “Why would I think about missing a shot I haven’t even taken yet?”
3) Fear and doubt don’t have to cripple you; don’t let them determine your actions.
Sponsor
Secrets Masterclass: Join the founder of ClickFunnels, Russell Brunson, for a FREE masterclass to learn the 3 secrets that will IGNITE your business in 2020! EOFire.com/secrets
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[00:35] – Income review from JLD
- Gross Income for August: $156,959
- Total Expenses for August: $32,789
- Total Net Profit for August: $124,170
- Difference b/t August & July: -$13,270
- % of net profit to overall gross revenue: 79%
[2:06] – Monthly tax tip from CPA On Fire, Josh Bauerle – Payroll Tax Deferral: What You Need to Know
- What exactly constitutes payroll taxes? – Social security and medicare taxes.
- Notice the wording used… “deferral” – There’s a catch to this!
- A Final Word – Be careful. There are so many unknowns.
- Reach out to Josh here, or visit CPAonFire.com.
[08:10] – What went down in August
[08:16] – The Common Path to Uncommon Success
- Exciting progress continues with John’s upcoming book!
- The Common Path to Uncommon Success is set to hit bookshelves spring 2021
- First draft was handed over to the editors on August 14th with a total of 70,514 words!
- John teamed up with 17 INCREDIBLE entrepreneurs for each of his 17 chapters and each shared their genius on their topic of expertise
- Sign up for behind-the-scenes updates and sneak peeks! EOFire.com/success
[13:51] – Puerto Rico to Maine
- We’ve canceled a 23-day river cruise through Europe, multiple trips we had scheduled for conferences, and also side trips we had planned to visit family and friends.
- We decided to take this opportunity to refocus.
- We also decided to extend a trip we had planned to Maine instead of canceling it. This was our time to sit back, enjoy family time, and relax.
23:37 – Thanks to our sponsor, Secrets Masterclass!
[24:23] – Income breakdown from JLD and Kate
- Gross Income for August: $156,959
- Total Expenses for August: $32,789
- Total Net Profit for August: $124,170
- Difference b/t August & July: -$13,270
- % of net profit to overall gross revenue: 79%
[29:38] – Biggest Lesson Learned – The Last Dance
- The Last Dance on Netflix – Michael Jordan documentary – if you haven’t checked it out yet, I highly recommend it!
- “Why would I think about missing a shot I haven’t even taken yet?” ~ Michael Jordan
- Fear and doubt don’t have to cripple you; don’t let them determine your actions.
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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