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/income59, and IGNITE!
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!
Billy Gene is Marketing: My friend Billy Gene has a completely free training that will teach you exactly how to use paid ads to get more customers in any niche. Visit WatchBillysVideo.com to access his free training today!
(click the time stamp to jump directly to that point in the episode.)
[1:35] – The crew says hello and welcomes Fire Nation!
[2:15] – Josh’s July 2018 Tax Tip: Tax Considerations When Selling Your Business
- [3:30] – Is the money you make from the sale considered ordinary income or capital gains?
- [4:15] – Tune in to hear the best way to structure your sale!
- [4:47] – Upfront sale, or an installment sale?… and why this could make a huge difference come tax time.
- [5:45] – Your business entity makes a big difference, too! Josh shares all…
- Feel free to reach out to Josh: Josh@cpaonfire.com!
[8:45] – David’s July 2018 Legal Tip: You set the price, I’ll set the terms (Business Contracts)
- [10:00] – A lot of important terms are hidden in the end “boiler plate” section of a business contract
- [10:30] – Jurisdiction and Choice of Law are two David discusses today
- [10:55] – Jurisdiction: what it means, and why it’s important – David breaks it down!
- [12:50] – Choice of Law: Which state’s laws are going to apply in the event of a dispute? Tune in for all the implications
- [14:40] – Don’t let the other business call all the shots – this is important stuff!
- You can find David over at ProductsOfTheMind.net!
[16:35]: What went down at the Entrepreneurs On Fire in July 2018!
[16:50]: 3 Hours to YOUR BIG IDEA launches!
- [17:00]: We’re ALL in 1 of 3 camps… tune in to hear John break down WHY he created this training.
- [18:30]: The Super Funnel: What is it, and what does it include?
- YourBigIdea.io is where it all starts, Fire Nation!
- [19:30]: Kate jumps in and talks about what’s next after you discover YOUR BIG IDEA
- [20:20]: Turning your BIG IDEA into Real Revenue
- [23:00]: Kate & John review the 4 BIG IDEAS they’ve turned into 7-figure revenue generators
- [23:55]: Identify what your audience struggles with most and where they want to be – Kate dives deep into the importance of this and what it means for YOU!
- [24:45]: Kate & John talk about the bonuses included in Real Revenue (tune in and start brainstorming ideas around what bonuses YOU can include for your audience!)
- [27:00]: John talks about the guarantee he decided to put on Real Revenue – lifetime!?
- Check out Real Revenue at RealRevenue.co
- [28:20]: Learn from those who have already cleared the path! How can you apply this to YOUR business?
- [29:25]: The next step in the Super Funnel: The Revenue Crew – an elite mastermind on fire! Kate breaks down why they decided to add another level…
- [31:30]: John talks about joining a mastermind back in 2012 and what it did for him on his journey
- [33:00]: Weekly, live group coaching w/ JLD, a private Facebook group, and more!
- Questions? Feedback? John is here for you! Reach out anytime: John@eofire.com!
- [34:00]: The Super Funnel doesn’t stop there… Tune in to hear what else John & Kate have decided to include in the Super Funnel!
- [34:40]: Puerto Palooza II is coming in 2019!
- [35:55]: Take a step back and let this funnel sink in: What can you create for YOUR audience that follows this same type of format to help take your business to the next level?
[37:40]: Thanking our Sponsor, Billy Gene.
[38:55]: The tech side of creating The Super Funnel
- [39:25]: Kate breaks down the new user experience they aim to create with 3 Hours to YOUR BIG IDEA
- [40:35]: Thinkific is where John & Kate host all of their course content – both free and paid
- [40:55]: Rob from Themeific helped turn Kate & John’s ideas into a reality!
- [41:30]: Looking to create a free course on Thinkific and make it unique with Rob’s help? You’re in GREAT hands!
- [42:00]: How can you take this info and apply it in YOUR business?
[42:30]: The Podcast Journal launches!
- The Podcast Journal: Idea to Launch in 50 Days!
- [43:30]: Kate talks about what it felt like to see the first purchases of The Podcast Journal digital pack come through
- [46:20]: 4,880 copies are currently hanging out in Long Beach, CA awaiting shipment to the packaging facility!
- [47:00]: Kate & John talk about launching The Podcast Journal at Podcast Movement
[48:35]: Podcast Movement 2018 in Philly
- [49:00]: John breaks down his time at Podcast Movement – his talk, the booths they hosted, doing karaoke, and more!
- [51:00]: Kate talks about exploring Philly the day before the conference
- [52:00]: Check out the recap post Kate put together with their Top 3 Podcasting Lessons Learned
[52:20]: July 2018 Income Breakdown
[54:40]: Biggest Lesson Learned in July
- [55:00]: Opportunities are abundant
- [55:15]: The opportunities that podcasting provides can be of epic proportions!
- [56:00]: Kate’s biggest takeaway from the hundreds of convos she had at Podcast Movement – tune in to hear it!
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!