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/income130, and IGNITE!
Subscribe
Guest Resources
Franbridge Consulting – Check out Jon’s website and sign up for a free consultation!
Non-Food Franchising: The Better Path to Business Ownership – Buy Jon’s book on Amazon!
ThriveTime Show – Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow.
CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs.
3 Value Bombs
1) It is valuable and inspiring to be surrounded by individuals doing incredible things.
2) If you’ve been considering a mastermind, but haven’t found the right fit just yet, maybe it’s time to start one of your own with peers you’ve met at meetups, or online.
3) The support and guidance you’ll get from joining a mastermind will be one of the most powerful things on your journey to growing your business.
Sponsors
HubSpot: HubSpot’s all -on -one customer platform can make growing your business infinitely easier. Visit HubSpot.com to get started today!
Ethos: Protect your family today. Get up to $2 million in coverage in just 10 minutes at EthosLife.com/fire. Thanks to Ethos for sponsoring us!
Airbnb: Your home might be worth more than you think… Find out how much at Airbnb.com/host!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[01:05] – Income review
- Gross Income for June: $124,823
- Total Expenses for June: $12,902
- Total Net Profit for June: $111,921
- Difference b/t June & May: -$70,204
- % of net profit to overall gross revenue: 90%
[01:51] – Ron’s June Tax Tip: The benefits of the R&D Tax Credit for business owners
- What is the R&D Tax Credit
- How Can Your Business Qualify?
- Developing new products or services
- Improving business processes or software
- Innovating tools or technologies
- CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs
[7:35] – What Went Down In June: Interview of the Month w/ Jon Ostenson
- 3 Value Bombs
- Building towards many smaller, healthy exits generates ongoing cash flow and creates potential exits to cross.
- Franchising is not right for everyone, but most people love support and need people on the sideline to go and execute for them.
- It’s important to have an expert guide to filter the right information you need.
- Franbridge Consulting – Check out Jon’s website and sign up for a free consultation!
- Non-Food Franchising: The Better Path to Business Ownership – Buy Jon’s book on Amazon!
[8:45] – Thanks to our sponsors!
- HubSpot: HubSpot’s all -on -one customer platform can make growing your business infinitely easier. Visit HubSpot.com to get started today!
- Ethos: Protect your family today. Get up to $2 million in coverage in just 10 minutes at EthosLife.com/fire. Thanks to Ethos for sponsoring us!
- Airbnb: Your home might be worth more than you think… Find out how much at Airbnb.com/host!
[12:02] – Bo’s first trip!
- Bo got to meet a lot of his family – and take his first trip!
- Bo did pretty great overall both travel days, and he was a champ throughout our stay in Minnesota.
- Checkout Bo’s photos here
[15:16] – John speaks at Clay Clark’s Business Workshop
- If you’re looking for a serious business event that delivers REAL value – no fluff – then check out Clay and what he’s got going on: ThrivetimeShow.com/eofire!
[17:04] – June 2024 Income Breakdown*
- Gross Income for June: $124,823
- Total Expenses for June: $12,902
- Total Net Profit for June: $111,921
- Difference b/t June & May: -$70,204
- % of net profit to overall gross revenue: 90%
[17:51] – Biggest Lesson Learned: Joining A Mastermind
- It is valuable and inspiring to be surrounded by individuals doing incredible things.
- If you’ve been considering a mastermind, but haven’t found the right fit just yet, maybe it’s time to start one of your own with peers you’ve met at meetups, or online.
- The support and guidance you’ll get from joining a mastermind will be one of the most powerful things on your journey to growing your business.
[33:19] – Thank you to our Sponsor!
- HubSpot: HubSpot’s all -on -one customer platform can make growing your business infinitely easier. Visit HubSpot.com to get started today!
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!
Subscribe
