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/income112, and IGNITE!
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Guest Resources
CPAOnFire.com – Accounting, Tax & CFO Services for entrepreneurs.
3 Value Bombs
1) When you set an actual destination, you can then confidently create an executable financial forecast.
2) Honesty loves accountability.
3) Take time to pause and reflect.
Sponsors
HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
RefundsPro: See if you qualify for the Employee Retention Credit! Get started today with a free, 5 minute questionnaire at RefundsPro.com.
Show Notes
**Click the time stamp to jump directly to that point in the episode.
[01:00] – Income review
- Gross Income for December: $152,076
- Total Expenses for December: $19,170
- Total Net Profit for December: $132,906
- Difference b/t December & November: +$31,261
- % of net profit to overall gross revenue: 87%
[01:56] – Ron’s December Tax Tip: Creating clarity through forecasting and budgeting
- The growth cycle of an entrepreneur is from (A) the point where they have an idea for a product or service (i.e., where they start) to (B) the point of full dream realization (i.e., where they want to end up).
- CPA On Fire, we use financial information to shorten this growth cycle.
- Think expansively!
- What additional products or services could you offer?
- Are there potential acquisitions?
- What other income streams are possible?
- CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs
[7:18] – Thanks to our sponsors!
- RefundsPro: See if you qualify for the Employee Retention Credit! Get started today with a free, 5 minute questionnaire at RefundsPro.com.
- HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
[9:23] – What Went Down In December: Interview of the Month w/ Clay Clark!
- How Clay Clark Grew ShawHomes.com from $16M to $160M + How to 10x Your Business Now!
- 3 Value Bombs
- Honesty loves accountability.
- Action is the objective measure of intelligence.
- You cannot change the past, but you can decide today to have a new future!
- ThrivetimeShow.com/eofire – Get your ticket to join Clay and JLD in-person at this interactive conference!
[11:24] – A Year in Review
- Here are some of our biggest highlights from 2022
- We launched the Torch Scholarship at Providence College, and the first scholarship was awarded for the Fall 2022. We also got to meet the recipient in person during our visit to Providence in November!
- We got married in April! We loved having our family and friends down to Puerto Rico to celebrate with us during our month-long festivities!
- John signed on as an affiliate coach for Krista Mashore and helped her reach the #2 spot for Tony Robbins and Dean Graziosi’s launch
[19:58] – Entrepreneurs On Fire turned 10 years old!
[22:39] – December 2022 Income Breakdown*
- Gross Income for December: $152,076
- Total Expenses for December: $19,170
- Total Net Profit for December: $132,906
- Difference b/t December & November: +$31,261
- % of net profit to overall gross revenue: 87%
[23:24] – Biggest Lesson Learned: Pause and Reflect
- As we begin 2023, this is a perfect time to take a pause and reflect on what worked really well in 2022, what didn’t work so well in 2022, and how we can use these reflections to help propel ourselves moving forward.
- This is also a great time to start keeping track of the bigger things going on in your business.
- Have a running Google Doc where you can keep track of notable milestones and the bigger projects you do in your business.
[27:04] – Thank you to our Sponsors!
- HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!
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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