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/income134, and IGNITE!

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Guest Resources

Morning Brew – Delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.

CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs.

3 Value Bombs

1) The more effort you invest in creating a detailed plan, the more likely you’ll trust it when faced with challenges.

2) The key is not just creating a plan, but trusting it and seeing it through.

3) When you have your word of the year to constantly go back to, you can easily refocus and remind yourself of what’s really most important to you.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

[1:21] – Income review

Gross Income for October: $140,470
Total Expenses for October: $10,867
Total Net Profit for October: $129,603
Difference b/t October & September: +$30,918
% of net profit to overall gross revenue: 92%

[2:23] – Ron’s October Tax Tip: How Marathon Planning Can Strengthen Your Business Strategy

Why Planning Matters in Business
- At CPA on Fire, we emphasize long-term strategic planning — looking 5 years ahead while dialing in the specifics for the next 12 months.
- Think of it as your business marathon.
The Marathon Analogy
- The more effort you invest in creating a detailed plan, the more likely you’ll trust it when faced with challenges.
- Staying committed to your plan — while allowing for course corrections along the way — often leads to breakthroughs.
Finishing the Year Strong
- Write down your assumptions, clarify your goals, and prepare for potential detours.
- The key is not just creating a plan, but trusting it and seeing it through.
CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs

[8:36] – Thanks to our sponsors!

HubSpot: Making your life easier. Getting you results faster. And better connecting you to all your data, all in one place. Start making major moves with HubSpot! Visit HubSpot.com/marketers to learn more!
FranBridge: Many EOFire listeners have launched franchises in a variety of industries outside of food – and FranBridge Consulting has guided them to these premier opportunities! Sign up for a free consultation with Jon – or get a free copy of his book, “Non-Food Franchising” – at FranBridgeConsulting.com!

[10:37] – What Went Down In October: Interview of the Month w/ Alex Lieberman

Live from INBOUND 2024 with Alex Lieberman
A term sheet is a non-binding document that outlines the key terms and conditions of a proposed business deal.
3 Value Bombs
- Avoid pod-fading by consistently producing the right content over time to serve your audience in a meaningful way.
- Podcasting is the most intimate channel to build an audience.
- Choose the hard way when creating your niche; the higher the barrier, the lower the competition.
Morning Brew – delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.

[11:48] – Joshua Tree, and Returning to Puerto Rico

We closed out our summer and fall travels with a trip to Joshua Tree before heading home to Puerto Rico.
We had an incredible time, and we were very grateful for our camper
We also celebrated Bo’s first Halloween!
Checkout photos here.

[16:37] – October 2024 Income Breakdown*

Gross Income for October: $140,470
Total Expenses for October: $10,867
Total Net Profit for October: $129,603
Difference b/t October & September: +$30,918
% of net profit to overall gross revenue: 92%

[17:37]– Biggest Lesson Learned: Choosing a word of the year

When you have your word of the year to constantly go back to, you can easily refocus and remind yourself of what’s really most important to you.
Take some time out in the coming weeks to really think about some of the big goals you have for 2025.
- What do you want to focus on?
- What do you want to give your time and energy to?
- What reminder would serve you in tough times?
- What word can help you stay FOCUSED and remind you of what’s most important to you?

[21:14] – Thank you to our Sponsors!

HubSpot: Making your life easier. Getting you results faster. And better connecting you to all your data, all in one place. Start making major moves with HubSpot! Visit HubSpot.com/marketers to learn more!
FranBridge: Many EOFire listeners have launched franchises in a variety of industries outside of food – and FranBridge Consulting has guided them to these premier opportunities! Sign up for a free consultation with Jon – or get a free copy of his book, “Non-Food Franchising” – at FranBridgeConsulting.com!

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!