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/income69, and IGNITE!
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Resources
Knowledge Business Blueprint: learn more about KBB at EOFire.com/kbb, and if you want to read our full review of what the Knowledge Business Blueprint is, we’ve got you covered!
Affiliate management systems: Infusionsoft (now Keap), ClickFunnels, SamCart, and Tap Affiliate.
Neil Gaiman’s commencement keynote: Make Good Art.
3 Value Bombs
1. Are you controlling when, where, and how your workers do their job? Are you controlling whether they work for others? If yes, then chances are you have an employee – not a contractor.
2. How do affiliate partnerships work? Step 1: Find products, courses, services you like and trust; Step 2: Confirm they’ll be of value to your audience; Step 3: Reach out to the creator and ask about an affiliate program; Step 4: Sign up; Step 5: Promote to your audience!
3. Affiliate programs can be managed through platforms like Infusionsoft (now Keap), ClickFunnels, SamCart, and Tap Affiliate.
Sponsor
ZipRecruiter: When it comes to hiring, you can save time and get more qualified candidates fast with ZipRecruiter. And right now, you can try ZipRecruiter for free at ZipRecruiter.com/fire! ZipRecruiter. The smartest way to hire.
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[0:55] – Income review from JLD
- Gross Income for May: $178,218
- Total Expenses for May: $36,458
- Total Net Profit for May: $141,760
- Difference b/t May & April: +$4,960
- % of net profit to overall gross revenue: 79.5%
[1:30] – Monthly tax tip from CPA On Fire, Josh Bauerle
- Are my workers employees or contractors?
- Tune in to hear Josh talk about the difference between the two, and what it means for you come payroll and tax time!
- Josh@cpaonfire.com
[9:00] – Monthly legal tip from our Legal Counsel David Lizerbram
- Single Enterprise Doctrine
- Does separating your business into separate companies (LLC’s or corporations) protect you?
- Tune in to hear David break down what the Single Enterprise Doctrine means, and why you should care!
- Reach out to David today!
[12:00] – What went down at the Entrepreneurs On Fire studios in May!
[12:22] – Tony Robbins and Dean Graziosi’s KBB Launch
- What is KBB, and how did we get involved in the launch?
- John gives an overview of our involvement
[15:00] – Kate breaks down affiliate partnerships
- Kate talks about her experience with KBB
- Kate & John talk about how the KBB Live Cast was setup and hosted
- How affiliate programs work
- Kate talks about different types of affiliate programs
- How are affiliate programs set up?… Kate breaks it down!
- Read John & Kate’s review about what the Knowledge Business Blueprint is
[31:04] – Thanks to our sponsor, ZipRecruiter!
[32:19] – Breakdown of our KBB launch & stats
- 250,000 people tuned in to the Live Cast!
- What was the price point and what was included / offered during the official launch?
- Tune in to hear Kate and John breakdown the numbers plus their JLD Bonus Experience offer live during the initial KBB launch!
- How did we promote the Live Cast and course launch?… we share the different channels we leveraged – tune in! :)
- EOFire.com/kbb for more info on KBB!
[50:15] – Income breakdown from JLD
- Gross Income for May: $178,218
- Total Expenses for May: $36,458
- Total Net Profit for May: $141,760
- Difference b/t May & April: +$4,960
- % of net profit to overall gross revenue: 79.5%
[52:50] – Our Biggest Lesson Learned in May: Enjoy this time
- This month’s biggest lesson learned was directly inspired by our Entrepreneurs On Fire episode where John shares Neil Gaiman’s commencement keynote: Make Good Art.
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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