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/income62, and IGNITE!

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Resources Mentioned:

• Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
• Case Study with Thinkific: How one free course generated thousands of new leads and $50k in revenue in less than 2 months.
• Puerto Palooza: Our intimate, in-person mastermind is coming up Feb 7 – 11, 2019!

Sponsor

• ZipRecruiter: Successful businesses rely on quality people. But finding quality people can be tough. That’s why I love ZipRecruiter! Its powerful technology scans thousands of resumes to identify people with the right skills and experience, and then actively invites them to apply for your job! That means you get quality candidates fast. And right now you can try ZipRecruiter for free! Visit ZipRecruiter.com/fire. ZipRecruiter. The smartest way to hire!

Time Stamped Show Notes

(click the time stamp to jump directly to that point in the episode.)

• [2:20] – The crew says hello and welcomes Fire Nation!
• [2:35] – Josh’s October 2018 Tax Tip: Should I make a big purchase to save on taxes?
  • [3:30]: Josh did it! He bought a new truck… and it’s going to save him BIG on taxes.
  • [3:55]: What to consider if you’re looking to make a big purchase to save on taxes – Josh breaks it down.
  • [5:00]: An example of how much you can save on taxes by making a big purchase (vehicles specifically).
  • [6:55]: Josh breaks down his own purchase and how much it will save him in taxes.
  • [8:10]: Buyer beware: don’t buy things you don’t need in order to “save on taxes” – Josh explains why this is a bad idea!
    • Feel free to reach out to Josh: Josh@cpaonfire.com!
• [10:10]: What went down at the Entrepreneurs On Fire in October 2018!
• [10:30]: Bluehost + Real Revenue (Jan 2019 note: this offer is no longer available)
  • [10:40]: What is Real Revenue?
  • [11:20]: Our Brainstorming session and what we came up with…
  • [13:50]: Kate shares a couple of lessons for Fire Nation.
• [15:15]: Thanking our sponsor, ZipRecruiter!
• [17:30]: A Case Study with Thinkific
  • [17:50]: Kate breaks down why they decided to move their free courses to Thinkific.
  • [19:05]: Check out the case study they created with Thinkific that breaks down how it all went down!
  • [19:55]: The power of free courses and how to create a revenue-generating funnel around your free course.
    • EOFire.com/ThinkificCaseStudy – head over to check out the case study Team Fire and Thinkific created!
    • Get the Fire Nation special from Thinkific!
    • Mention you’re from Fire Nation when you reach out to Rob at Themeific for the FIRE special!
• [21:15]: Puerto Palooza
  • [21:35]: John breaks down what Puerto Palooza is.
  • [22:00]: 3-day intimate mastermind in Puerto Rico.
  • [22:10]: 2 days of hot seats – 1 with JLD and 1 with Kate.
  • [23:25]: 3rd day: day of fun in the sun!
  • [24:10]: Puerto Palooza is application-only and there are only a few spots left!
• [26:10]: 31 days, 11 countries, 1 cruise
  • [26:40]: Kate and John break down their travels in October!
  • [27:15]: What they did in each place they visited as it relates to fun and life – but as it relates to business, too
  • [27:50]: Kate talks about the conversations they had during their travels and how those convos were different than at home.
  • [30:00]: Kate talks about your uncomfortable moments being your biggest breakthrough moments (lesson learned in Berlin)
  • [31:30]: Kate and John chat about Cities by Sound (lesson learned in Vienna).
  • [33:05]: Rick Steves audio walking tours and how these impacted their travels.
  • [34:40]: Kate talks about their time in Budapest and how they chatted a lot about their passion projects for 2019 during their walks there.
  • [35:45]: John talks about a new project: Cleansworthy.
  • [38:00]: John and Kate do a little bit of brainstorming over different ideas / ways to share info through Cleansworthy.
  • [38:30]: Naples, Italy – John calls Kate out on “awesome” :)
  • [40:40]: Kate and John’s cruise from Rome to Greece with family and friends! Lots of masterminding and exploring with 7 stops over 10 days.
  • [42:45]: Rome!
• [44:10]: October 2018 Income Breakdown
  • Gross Income for October: $176,264
  • Total Expenses for October: $23,915
  • Total Net Profit for October: $152,349
  • Difference b/t October & September: +$15,392
  • [44:55]: Have you checked out The Podcast Journal? If yes, we’d love it if you could leave a review on Amazon!
    • Leave a review for The Podcast Journal on Amazon!
• [46:50]: Biggest Lesson Learned in October: What type of business are you creating?
  • [47:10]: Kate talks about their lessons learned during their travels.
  • [47:45]: Kate & John stepped away from the business.
  • [48:50]: What stepping away from the business allowed Kate to discover.
  • [49:15]: The type of business they’re creating and how that shows up in different areas of their lives.
  • [50:00]: What type of business are you creating, and is that the type of business you want?

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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