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/income126, and IGNITE!
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Guest Resources
CPAOnFire.com – Accounting, Tax & CFO Services for entrepreneurs.
3 Value Bombs
1) Understand foreign reporting requirements: disclose all overseas accounts.
2) Social media is a great platform to help you leverage your content and reach people where they are.
3) Regardless of what type of work you’re doing. You can do good AND do well.
Sponsors
HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
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!
Airbnb: Have you ever considered hosting on 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.
[01:01] – Income review
- Gross Income for February: $38,464
- Total Expenses for February: $16,889
- Total Net Profit for February: $121,575
- Difference b/t February & January: -$13,845
- % of net profit to overall gross revenue: 88%
[01:49] – Ron’s February Tax Tip: Navigating your tax preparation
- Organize Your Materials and Ensure Correct Reconciled Accounting
- Crypto and NSF, Foreign Reporting
- IMPORTANT: Understand foreign reporting requirements: disclose all overseas accounts.
- Strategic Planning for the Future
- CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs
[7:11] – What Went Down In February: Interview of the Month w/ Taylor Conroy
- How to Land + Deliver a TEDx Talk in 2024 That Reaches Millions of People with Taylor Conroy
- 3 Value Bombs
- Have that low point right next to the high point, so that when people are listening to your speeches, they’re having this visceral, emotional experience going from a low to a high.
- When someone shares your talk online, they’re not sharing the content, they’re sharing the contrast, they’re sharing the feeling. We as speakers need to realize we’re energy conductors. We’re not just people yapping into a microphone.
- Know of those fears that come up and helping people work through those so they can get to the other side. The definition of courage is not the absence of fear. It’s feeling the fear and doing it anyways.
- Thought Leader – Sign up for free today! How To Land A TEDx Talk & Spread Your Message To Millions In As Little As 30 Days.
[8:50] – Thanks to our sponsors!
- HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
- Airbnb: Have you ever considered hosting on Airbnb? Your home might be worth more than you think… Find out how much at Airbnb.com/host!
- 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!
[11:35] – Using AI for Social Media
- Social media is a great platform to help you leverage your content and reach people where they are.
- Repurposing your content!
- Since we do audio only interviews, this is a different route for us to take to put out visual content.
- Great feedback from many in Fire Nation about these videos.
[13:49] – February 2024 Income Breakdown*
- Gross Income for February: $38,464
- Total Expenses for February: $16,889
- Total Net Profit for February: $121,575
- Difference b/t February & January: -$13,845
- % of net profit to overall gross revenue: 88%
[15:29] – Biggest Lesson Learned: Knowing Your Worth
- At our meetup in February the topic of knowing your worth came up, which is not only a huge topic, but hugely important as an entrepreneur.
- We’ve all been there… How much should I charge for that?
- One of the women shared a powerful reminder – regardless of what type of work you’re doing. You can do good AND do well.
[18:21] – Thank you to our sponsors!
- HubSpot: With the HubSpot for Startups program, you can save 30-90% on a platform that scales right along with you! To see if you’re eligible to join the HubSpot for Startups program and take your growth to the next level, visit HubSpot.com/startups!
- 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!
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