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/income93, and IGNITE!
CPAOnFire.com – Accounting, Tax & CFO Services for Entrepreneurs
LizerbramLaw.com – Business Attorney & Legal Strategist.
The Pleasure Trap – The Pleasure Trap: Mastering the Hidden Force That Undermines Health & Happiness. Author, Dr. Alan Goldhamer
3 Value Bombs
1) There’s no room for shaming people.
2) Be careful when you’re relying on pre-existing works when creating your content.
3) Creating good habits isn’t always easy, but that doesn’t mean you shouldn’t try – or that it can’t work.
Klaviyo: Customers want more from brands. Delivering more means owning the customer experience. Klaviyo calls this “owned marketing” and they believe it’s the best path to growth. For more, visit Klaviyo.com/fire!
**Click the time stamp to jump directly to that point in the episode.
[00:00] – Income review
- Gross Income for May: $222,618
- Total Expenses for May: $101,092
- Total Net Profit for May: $121,526
- Difference b/t May & Apr: +$3,486
- % of net profit to overall gross revenue: 55%
[02:10] – Josh’s May Tax Tip: Fire Nation Q&A’s!
- 1st Question from Ben: “What three questions should you ask yourself if you think you are ready to fire yourself as an accountant or bookkeeper?”
- There’s really only one question you need to ask: do I own a business? If the answer is yes, it’s time to fire yourself and hire a tax professional.
- As for whether you should hire a local tax professional – focus on hiring one that knows your industry.
- 2nd Question from Vanessa: “I was denied an SBA loan because my tax return showed a loss; should I be taking less deductions in order to get approved?”
- The expenses you take on your tax return should be true expenses in your business.
- Under no circumstances would Josh recommend taking fewer deductions than you are entitled to in order to qualify for a loan.
[5:58] – 3rd Question from Maurisa
- 3rd Question from Maurisa: “How can I get around the embarrassment of talking to an accountant if I’m behind on my taxes – and how can I find an accountant willing to help instead of shame me?”
- Reach out to any tax professional you are interested in working with, and if they even attempt to shame you for falling behind, give them a few choice words and find an actual professional!
- Many people fall behind, or have things done wrong, but a true professional will be willing to work with you.
[9:04] – David Lizerbram’s May Legal Tip – Content Based on Pre-Existing Content
- Is it “legal” for the podcaster to start a podcast that is 100% based on someone else’s podcast?
- On the Copyright side
- It’s typically OK to use or reference pre-existing content for the purpose of reviews, commentary, or criticism. But you should only use as much as is necessary to accomplish those goals.
- If you want to create a podcast that reviews or comments on Entrepreneurs on Fire, that’s fine. However, you should be careful about using actual clips from the original podcast. Likewise with clips (video or audio) from movies or music.
- There is no specific rule in copyright law that allows you to use a certain amount or percentage of anything. Each of these issues has to be considered on a case by case basis.
- There is a concept called “fair use” – under certain circumstances the law allows you to use part or even all of a pre-existing work without permission.
- What falls under Trademark law
- As with copyright and fair use, the law does permit you to refer to an existing TV series, movie, show, book series, and so on by using the title, but only to the extent necessary.
- Be careful when you’re relying on pre-existing works when creating your own content.
[18:29] – What Went Down In May – The HubSpot Podcast Network Launches
- Entrepreneurs On Fire is brought to you by the HubSpot Podcast Network!
- HubSpot Podcast Network is bringing together the best audio content for their followers and audience, making it easy for them to learn and grow.
- The six podcasts include:
- Entrepreneurs On Fire
- My First Million
- Being Boss
- Salesman Podcast
- Business Infrastructure
- MarTech Podcast
[25:18] – John’s Wellness Retreat – True North
- It started with listening to great podcasts on health like The Cabral Concept, Impact Theory and The Model Health Show.
- John was particularly drawn to a guest on multiple shows, Dr. Alan Goldhamer. You can check out his interview on Impact Theory right here.
- John read Dr. Alan Goldhamer’s book, The Pleasure Trap.
- John decided a long water fast was worth the insane amount of benefits, and committed to giving it a go.
- Here are just a few of the benefits of water fasting:
- Weight loss,
- Fat loss,
- Telemere lengthening,
- Human growth hormone and testosterone production,
- Decrease in whole body inflammation,
- Release of water retention, and
- SO much more!
- John booked a 17-day stay from May 8th to the 25th at Dr. Goldhamer’s clinic, and committed to a 10-day, water-only fast.
- John’s stats from start to end of the his retreat.
- Starting weight: 173.4
- Ending weight: 152.2
- Starting body fat %: 19.6
- Ending body fat %: 15
[33:00] – May 2021 Income Breakdown
- Gross Income for May: $222,618
- Total Expenses for May: $101,092
- Total Net Profit for May: $121,526
- Difference b/t May & Apr: +$3,486
- % of net profit to overall gross revenue: 55%
[34:48] – Biggest Lesson Learned – Creating Good Habits Isn’t Always Easy
- Creating good habits isn’t always easy, but that doesn’t mean you shouldn’t try – or that it can’t work.
- Creating good habits is understanding what’s most important to you – the non negotiables in your life – and then finding ways to work those things into your daily lifestyle.
- When thinking about the good habits you want to create, try doing it in tandem with your goals.
Boom, shake the room, fire nation, J L D here, and welcome to entrepreneurs on fire. Part of the HubSpot podcast network with great shows like the salesmen podcasts and on today's episode fire nation, we will be breaking down the income report for May, 2021. Our gross income was $222,000. Our expenses were over a hundred thousand dollars for the first time in a long time. And we will tell you why that was the case. Still gave us a net profit of $121,526 with a percentage of net profit overall gross revenue of 55%.
And today fire nation, we talking about the HubSpot podcast network partnership that we just joined. We'll also get into my 17 day wellness retreats up at the true north health center in Santa Rosa, California. Of course we have Josh dropping a tax tip and David dropping a legal tip and so much more. When we get back from thinking our sponsors hiring can feel like trying to find a needle in a haystack, but when you post a job on zip recruiter, their matching technology finds these qualified candidates for you and invites them to apply. So while other companies give you too many options, ZipRecruiter finds you the needle in the haystack.
0 (1m 27s):
And right now you can try ZipRecruiter for free at ziprecruiter.com/fire. Customers want more from brands. Delivering more means owning the customer experience, taking control over data acquisition analysis, creative and delivery. Klayvio calls this owned marketing, and they believe it's the best path to growth for more visit Klaviyo.com/fire. That's K L A V I Y O.com/fire. All right, fire nation is time to kick on into this episode. And Josh is going to get things, rock and roll in with fire nation's Q and A's that's you fire nation, submitting Q and a directly to Josh. He's going to tackle those right now.
0 (2m 8s):
Josh brother, take it away. All right, John, this month
1 (2m 11s):
We are right back to what has become our favorite thing to do on these income report tax tips. And that is to ask fire nation for their tax and accounting questions. And we've got a really good batch this month. So let's dive into them here. First up, we have Ben who asked what three questions. Someone should ask themselves if they think they're ready to fire themselves as an accountant bookkeeper. So Ben, I'm going to make this very simple for you. There's really only one question you need to ask, and that is, do you own a business because of the answer is yes. And you do own a business. It's already time to fire yourself and hire a tax professional, right? This taxes are too tricky.
1 (2m 52s):
Once you own a business to be trying to do them yourselves, if you just have a W2, fine, get on TurboTax, crank that thing out. Nice and simple. But once you have a business, there is too much, you can mess up whether that's missing deductions, you're entitled to, or trying to take things that you're not entitled to that's then going to cost you significant penalties and interests. All right. So once you're a business owner, it's time to hire a tax professional. The bookkeeping end of that is a little more tricky, especially because that can get expensive. So I would say the sooner that you can move those tasks with professional, the better you, you certainly want to make sure it can fit your budget. You don't want to do it before you can actually afford it. Right? But the thing to think about is that not only does this take time away from doing things that actually make you money, meaning if you're spending time bookkeeping, you're not spending time making sales and doing all these things that actually make you money, right?
1 (3m 43s):
But you are also very likely doing things wrong. Okay? Even a moderately experienced person that has some experience with numbers is going to mess up their own bookkeeping. If this isn't what they do as a profession. Okay? So by the time you hire somebody, you're going to spend way more time and money to get it cleaned up. So the quick answer on when to hire a professional, when to fire yourself from these tasks is a S a P if you want a business, next up we have Vanessa. And Vanessa said she was denied an SBA loan because her tax returns showed a loss. And she's wondering if she should take, be taking less deductions in order to get approved.
1 (4m 24s):
Right? And this is a question we get all the time from clients, they apply for a mortgage or they apply for a loan. And they say that the lender says, well, on your tax return, you're, you're showing you're not showing enough profit or you're showing a loss. We can't approve it. And they come back to us and say, Hey, we want to fix the taxes. We want to show more. So here's the thing I'd say with that expenses on your tax return should be true expenses in your business, right? Meaning anything that's on your tax return is real. You're not making things up there. So the profit that's shown on your tax return should very closely reflect your, reflect your true profit. If your tax return is showing a loss in your business, you are either taking significant amount of expenses that you shouldn't be, meaning that your, that aren't real or your business isn't profitable.
1 (5m 11s):
All right. So you have to really think about it. Do I want to make my business look profitable when it's not just to get alone, right? If it's, if it's the first one that you're taking expenses that you shouldn't, obviously that needs cleaned up, right? Go fix that. You shouldn't have taken them in the first place, but if it's because your business is truly not profitable or not profitable enough to get this alone, it's time to look hard at your business. It's not time to look at it and say, oh, I need to change things on my tax returns so I can get alone. Right? Your tax returns should reflect your actual business. So why is it losing money? The problem isn't the tax return. The problem is the business. Okay. So either way, I would say under no circumstances, would I recommend taking less deductions than you were entitled to simply to qualify for a loan?
1 (5m 58s):
Finally, question number three, we have from Risa who asked and I'm laughing because I get this all the time, how to get around the embarrassment of talking to an accountant, if you were behind on their taxes and your accounting, right? They want to know how you can find an account that's willing to help, instead of trying to shame you for falling so far behind or not keeping up with things. And I, I cannot tell you how many times I get on calls with potential clients or someone that just wants to ask some questions and they start out by saying, I'm so embarrassed. I'm really embarrassed to even talk to you about this. Like, look, this is, this is the way it is. People fall behind people make mistakes. This is a hard thing. These taxes and accounting.
1 (6m 38s):
And there's a lot of business owners who got started. Things escalated way more quickly than they plan to. And before they know what they're, they're two years behind on, on doing their taxes or three years or four years, whatever it is. Okay. So you've got to get over that embarrassment. And fortunately, Marissa, I think this is a simple answer. Reach out to any tax professional you are interested in working with. And if they even attempt to shame you for falling behind, give them a few choice words, however you want to phrase them and go find an actual professional, right? Because that's not a professional. If they're shaming you and embarrassing, you there's just no room for that in this business or any business, right. Taxes are difficult and they're tricky. And people fall behind and people make mistakes, right? Many people fall behind or have done things wrong and get them very right.
1 (7m 23s):
Eventually. Okay. So these people that you see that, that seem to have it all in order, there's a good chance that they themselves were behind and doing things wrong. At some point, a true professional is going to be willing to work with you where you are at and educate you instead of shaming you, right? If they do the opposite, it is their problem, not yours. So reach out to someone that you think would be a good fit. And if they even attempt to start shaming you goodbye onto the next one, right? Get the most important thing is for you to get this taken care of. There's no, no need to be embarrassed. This is the industry we work in. We, anything that you think your problem is we've seen worse. I can promise you. So as always the true answer to nearly every tax and accounting question, I'm pretty sure I repeat this on every income report is speak to a professional.
1 (8m 8s):
We can always ask general questions and answer general questions here, but to get your unique situation taken care of, and your unique questions answered, you need to talk to a professional about your exact in total situation. But if you do have questions for future income reports, let us know. We love doing this question and answer session, I think is the best way to get this taken care of. Because if you have a question, chances are someone else has the exact same question. As always, you can reach out to us directly, [email protected] We have a ton of free resources on our website, CPAonfire.com, and let's get those questions in for next
0 (8m 41s):
Month. Josh, thank you as always for dropping those value bombs and fire nation. Thank you for submitting all of those amazing questions for Josh. And now we're moving on to Mr. David Lizerbram. He has a legal tip, which is going to be content based on preexisting content. So David what's up brother, take it away. It's a lot.
2 (9m 5s):
So yeah, happy to help advise people, especially when they, we get questions in the podcast, just paradise group or, you know, any other way, you know, questions from the community, I think are the most informative way for us to understand what you guys need. So people often have questions about creating work based to some extent on preexisting content, they'll ask, is it quote unquote legal to do so? What are the rules and boundaries? What happens if I make a mistake, what to kind of address some of those issues here? So a recent post in Podcaster's paradise, Facebook, Facebook group asked if it was legal for the poster, the person who posted to start a podcast that is a hundred percent based on someone else's podcast.
2 (9m 50s):
So for example, what if someone started a podcast about entrepreneurs on fire, like reviewing guests, commenting on the conversations and topics, or what if you want to create a podcast based on, let's say a preexisting TV series, I came of Thrones or a movie, something like that. So this is a complex area of law. We can't address all the ins and outs in this income report, but I can try to provide some guidance and highlight potential points of concern. So most of these questions fall under copyright law, but there are trademark issues as well. We'll get to that on the copyright side, it's typically okay to use or reference preexisting content for the purpose of reviews, commentary criticism, but you should only use as much as it is necessary to accomplish those goals.
2 (10m 35s):
So think of book, movie music reviews that you'd read like in a newspaper or magazine, those reviews obviously referenced and name the original works. Sometimes they include quotes or descriptions of scenes that's been going on for hundreds of years. And it's well within, you know, reasonable boundaries. It's perfectly legal and acceptable. So if you want to create a podcast that reviews or comments on, let's say entrepreneurs on fire, that's fine. However, you should be careful about using actual clips from the original podcast. Likewise, with clips like video or audio from movies or music, that's where you might get into trouble. And the last thing you want is a nasty letter from John and Kate's lawyer, who was me as an aside, you've probably heard somewhere that it's okay to use a certain number of seconds of a song or a certain number of words from a book or amount of a podcast.
2 (11m 26s):
Okay, get ready. I am here to tell you that is not true. Anyone who tells you that is misinformed about copyright law, at least us copyright law. There is no specific role in copyright law that allows you to use a certain amount or percentage of anything. Anybody who tells you that. And they really believe it. They mean well, but they do not know. They do not understand this aspect of copyright law. And so, you know, just say thank you and move on because they're not giving you good advice. Again, there's no specific rule in copyright law that allows you to use a certain amount or percentage of anything. Each of these issues has to be considered on a case by case basis.
2 (12m 6s):
Now, there is a concept called fair use that comes into play here. In certain circumstances, the law allows you to use part or even all of a pre-existing work without permission. However you need to know that fair use is extremely complex and nuanced and the law around fair use is constantly evolving. So don't just assume that your use is quote unquote fair use, and therefore you're not going to run into problems and fair use. I could go on for days about that, a whole other topic. So, you know, just kind of flagged that for now. All right, now we've looked at the copyright issues. It's time to consider trademarks. So a trademark is anything that identifies you as the source of your products or services such as a business name, brand name, logo, tagline.
2 (12m 47s):
So the question is if I make a podcast about the TV series game of Thrones, can I use that title? The title game of Thrones is a trademark. Okay. So as with copyright fair use, the law does permit you to refer to an existing TV series or movie show, book series, et cetera, and so on by using the title, but only to the extent necessary. And you should not imply or allow listeners to assume that your podcast is related to sponsored or endorsed by the original that's very important. So it's usually best to avoid using the name of the original work in the title of your show, come up with a clever title that eludes to the original and attracts the fans without actually using the name. So like instead of the game of Thrones review podcast, how about, I don't know, the iron throne zone, I kind of came up with that one.
2 (13m 34s):
Your feel, feel free to use it. That's a freebie that said, you know, in your podcast, it's fine to refer to the name of the show, character names and such. Otherwise it would be nearly impossible to comment about review or criticize a TV show or movie. I mean, if you have a star wars podcast, you have to be able to say star wars and Darth Vader from time to time. Otherwise nobody's gonna know what you're talking about. So in summary, be careful when you're relying on pre-existing works when creating your content, it's doable, but there are rules and you want to learn them before you run into problems. And of course, if you have questions about any of these issues, copyright trademark, fair use, et cetera, you can always contact me, David lizard, brand lizard, Brian law.com type in my name.
2 (14m 15s):
And if you get even close on Google, you'll definitely find me. And yeah, I hope this was helpful.
0 (14m 21s):
Absolutely. Now isn't there some kind of like library of fair use or just open like pass books, great works audio that is kind of always available for people to use. And is there a place that they can go to search for that? So they don't need to kind of go through this process? Yeah,
2 (14m 40s):
There's basically two different things. So one, one aspect of that is what's called the public domain, which is works that are not subject to copyright protection anymore. Typically they're very old works like, you know, going back to, you know, the 1920s, thirties and before, and every year more things come into the public domain. So this year the great Gatsby is in the public domain. So if you want to make your own show movie, whatever based on great Gatsby, nobody can stop you from doing that. But last year they could. So it changes all the time. Don't just assume something's in the public domain, but you can Google it and look and try to figure it out. And again, AMI I'm based in the U S if you're in another country, these things might be a little different. And then there's also libraries of content that are either free to use or they're able to use for free under something called a creative commons license.
2 (15m 26s):
There's different rules about each little piece. So you definitely want to read, you know, the fine print, but there are a lot of ways to access content that you can use for free on your podcast or whatever you are creating. But again, do your diligence, make sure you're looking at this stuff carefully. And don't just assume that because some other podcast or is doing something that it's okay to do, and you're not going to
0 (15m 47s):
Awesome. That was exactly what I was looking for the public domain. So thanks for breaking this down, David super important stuff. Cause fire nation, the last thing you want is a letter from somebody like David saying, Hey, you're going to spend a lot of time and energy and potentially money unwinding, something that you did incorrectly. So once again, thank you, David much appreciated, and we will catch you on the next income report in fire nation. Don't you go anywhere because we have some great stuff coming up. As soon as we get back from thanking our sponsors, are you working around the clock to build the business? You always imagined. Do you want to communicate with your fast growing list of customers in a personalized way, but also in a way that gives you time to work on the rest of your business?
0 (16m 29s):
Do you ever wonder how companies you admire the ones that redefined their categories, do it companies like living proof and Chubbies they do it by building relationships with their customers from the very beginning, while also evolving in real time as their customers' needs change, these companies connect quickly with the customers, collect their information and start creating personalized experiences and offers that inspire a rapid purchase. Often within minutes of uploading their customer data, Klayvio empowers you to own the most important thing to any business. The relationship between you and your customers and the experiences you deliver from the first email to the last promotion, to learn more about how Klayvio helps you own your growth visit klayvio.com/fire.
0 (17m 9s):
That's K L A V I Y O.com/fire. If you're a business owner who's hiring, you probably face a lot of challenges when it comes to finding the right person for your role, like not having enough applicants with the right skills or experience. That's why hiring can feel like trying to find a needle in a haystack. Sure. You can post your job to some job board, but then all you can do is hope the right person comes along, which is why you should try ZipRecruiter for free at ziprecruiter.com/fire. When you post a job on zip recruiter, it gets sent out to over a hundred top job sites with one click. Then zip recruiters matching technology, finds people with the right skills and experience for your job and actively invites them to apply. In fact, ZipRecruiter is so effective that four out of five employers who post on ZipRecruiter get a quality candidate within the first day.
0 (17m 53s):
It's no wonder over 2.3 million businesses have come to ZipRecruiter for their hiring needs. So while other companies overwhelm you with way too many options, ZipRecruiter finds you what you're looking for, the needle in the haystack. And right now you can try ZipRecruiter for free, just visit ziprecruiter.com/fire. That's zip recruiter.com/fire ZipRecruiter, the smartest way to hire. And of course, this is the time what we like to hand the mic over to Katelyn Erickson, to talk about what went down in may specifically the HubSpot podcast network launched Kate what's up.
3 (18m 31s):
Hello, John. Hello, fire nation. Awesome to be on the mic with you today, man, David and Josh never cease to amaze me. They always come up with these things where I'm just like I had, no, I did not know that about public domain. Like, is it just a timing thing, I guess?
0 (18m 46s):
Yeah. There's some timing to it. And there's also just the fact of certain things are kind of earmarked that, Hey, this is a great work. It needs to, at some point just be available.
3 (18m 59s):
I love the Great Gatsby so much. It was my favorite book in school
0 (19m 3s):
By far. Wow.
3 (19m 6s):
Yeah. Big, big claim. And I'm standing by it. All right. Well, I'm excited to chat about what went down in may. We had a stellar month and we have a very exciting announcement that John and I have been tight-lipped about the HubSpot podcast network launched and we are a part of it. So, so excited for this. So HubSpot approached us several months ago and they sort of pitched the idea that they were starting a podcast network. And specifically they started the podcast network focus on business podcasts because who does HubSpot serve as their customers and their audience business owners.
3 (19m 50s):
So it only makes sense, right? That HubSpot would want to provide added value to their audience, to their potential customers, their existing customers. So they came up with the incredible idea to start this network. And we were very grateful to be asked to be a part of it. So as you hear at the top of every single entrepreneurs on fire episode is brought to you by the HubSpot podcast network. And we've had so many great conversations with the team over at HubSpot. And I just really, I mean, John, you and I have been following HubSpot for some time. I actually used HubSpot for the client. I manage at the advertising and marketing agency that I worked out before I quit to join you on the entrepreneurs on fire team.
3 (20m 36s):
And fun fact I attended because our clients use their software. I was at their event in what year would that have been 2000 and oh yeah, I remember that now. Yes. I attended the HubSpot event and yeah, so it's kind of, it's bringing back all kinds of things, but very excited to be working with our team. They're just full of energy positivity giving service and they officially launched May 11th. So that was why we're, that's why we're including it in this income report, because that was the big reveal of their slate of six podcasts geared towards business professionals who see the best education and inspiration on how to grow business.
3 (21m 24s):
So we've gotten so many questions from our audience, especially because we have such a large part of our audience who is involved in or interested in podcasting thinking like, why is HubSpot doing this well again, very smart of HubSpot to be thinking about their clients and their customers and what they want and need and what that is, is tips, strategies, inspiration on business growth. So essentially they're bringing together the best audio content for their followers and audience and making it super easy for them to learn and grow because then what is everyone going to think when they think, oh, that awesome podcast, wait, I found that because of HubSpot, Hey, I'm looking for a CRM.
3 (22m 6s):
Maybe HubSpot can help me with that. So the six podcasts included are yours, truly entrepreneurs on fire. My first million being boss, the salesman podcast, business infrastructure and the MarTech podcasts. And each of these podcasts brings expertise on marketing sales, service, operational guidance, all the, like it's basically wrapping it up with a big bow for you, for their audience, which is also our audience. So very excited to be a part of the HubSpot podcast network. And I will close my trap now and let you hop in John, what do you think?
3 (22m 49s):
0 (22m 49s):
It's a great partnership. We definitely respect everything that HubSpot's been doing in the online entrepreneurship business world for a long time. Now I can very clearly remember when I was working at John Hancock, just watching this conference that happened every year outside of my office window at the Boston seaports convention center where everything was just turned orange and it was called inbound, which it still is called inbound and everything was orange. And it was this company called HubSpot. And we actually have a mutual friends that works for HubSpot's and has been for quite some time now. And she's always spoken very, very highly of the company, which is super cool.
0 (23m 32s):
And I just remember being like, oh, that sounds like a pretty cool fun company. They seem to just be having a blast. And again, that was now 10, 15, like almost 15 years ago. So it's just kinda crazy how, you know, Kate had her independent with them back in 2012. I had mine back in like 20 2008, 2009 from afar and just, you know, knowing that they were kind of this Boston-based company too, was always really cool, me being a new Englander. And so when they came to us, it just made sense. They were really committed to the audio space. They see the value in it, and I'm just really glad that we can be a part of that. And as you know, we love being transparent, open and honest in our income reports. And we really detail everything out since this deal that we signed with host boss a two year deal, I'd say seven figure deal, low seven figures.
0 (24m 21s):
But as something that's is going to definitely be bolstering our income reports for the next two years at a minimum. And hopefully if everything works out as it has been for the past couple of months, we will be extending that relationship because it's been fantastic so far. So that is the HubSpot podcast network. We definitely recommend you checking out hubspot.com/podcast network to learn more and just see all the great things that HubSpot has going on. And if you're going to be at podcasters, the podcast movements where Kate is going to be keynoting at, we're going to not only have a great podcast to paradise meetup, but we're going to have an awesome booth that HubSpot as put on that we're going to be spending some time at and, and definitely come swing by the podcast booth.
0 (25m 10s):
And they're actually sponsoring the entire podcast pavilion. So you'll see them there in four. So it should be super cool. So shifting from there, I'm going to talk a little bit about my big 17 day wellness retreat that I took in the month of may long story short. When I, when I hit my high forties, I decided it was time to really get serious about how the wellness I've always been pretty serious, but I wanted to get real serious. And that just kind of led me down the path of consuming a lot of great content via books and YouTube shows and podcasts, which eventually led me to learning a lot about water fasting and kind of experimenting with it on my own.
0 (25m 53s):
And then I read the book called the pleasure trap, which I've mentioned before, but I highly recommend it for anybody who wants to have their head cracked open. Like mine was when I read that book, not just about health and wellness, but just about life itself, which is really cool, the pleasure trap and the, the author of that runs a wellness center up in Santa Rosa, California called true north. And I said, you know what, if I'm going to really do this and do an extended water only fast, I need to be in this environment for at least the first time. So I went and did a 10 day water fast. It was an amazing experience from beginning to end. It was medically supervised by amazing doctors, which is really cool.
0 (26m 34s):
We have morning check-ins evening. Check-ins are three classes a day. You're surrounded by other people who are all on different types of fasting. Some of them on juice fast, some of them are on like one meal a day. Some of them are just straight water fasting, and some of them are on a five day water, fast up to a 40 day water fast and everything in between. So it was really cool, kind of having those people surrounding you. And I just went all in and it was even better than I expected. Meaning my body transformation was significant. I went from 1 73 to 1 52. In those 10 days, I felt vibrant. I felt energized. I definitely was dealing with some detoxing and I had a very sore throat for the second half of the water, fast through detoxing and expelling the toxins that I was doing and all that jazz.
0 (27m 25s):
But overall I felt really good. My energy was, was high for the most part, since it was a great success. I went from 19.6% body fat down to 15% body fat. Kate actually did post an after picture, which is fantastic picture of me after the 10 days. And again, I just look almost like a different person than I did just a couple of weeks prior. So I'm going to send actually Kate after this call a before picture, that was taken just about a week before I left, that really shows the side-by-side difference. So you guys can kind of look at that and see the difference.
0 (28m 7s):
And that's at eofire.com/income 93. So definitely check out that for the picture. Plus I'm in the middle of editing a great video recap of my time there. I did a video summation every single day for all 10 days in my water fast. So you can actually experience the entire water fashion journey with me. Plus I link up some great videos that I recommend the books that I recommend for anybody that wants that type of body in life transformation. And again, it's just such an amazing feeling to know that I am literally always just 10 days away from a total body transformation cause I've done it once.
0 (28m 50s):
I S I've seen the results. I know what it can happen now. And it's just a fantastic feeling. My goal actually is to a year from now do a 21 day water fasts to really challenge and test myself to even that next level. So we'll see how that goes. And if that happens, I'm trying to bring maybe some family members with me that need this type of experience, but overall, I cannot speak highly enough about it. And we can give some more details in the posts about my hunger, the F the fluctuations and all of that jazz. And again, overall, I give it a 9.9 out of 10. The only 0.1 that I take away was my definite uncomfortableness with my throats, swelling and soreness, which again, that happens when your body's detoxing all that crap.
0 (29m 38s):
So before I move on Kate, anything you want to add
3 (29m 42s):
So proud of you for doing this. I mean, when you told me that you were booking your trip to go do this, I was like really excited for you because I know over the past, I mean, really, since I met you, you've always been just very adamant and driven about your health and wellness, which is something I love about you so much. And you really taking it to the next level with this trip. Yeah. I'm just, I'm so glad that it was such a great experience for you. And actually I think what would be interesting for a lot of people to hear is just like, this is one of the first questions I asked you after you were there and you called me, I'm like, well, like who else is there? I, cause in my mind there are, you know, hundreds of thousands of other people out there like you who are very interested in upleveling, their health and their wellness.
3 (30m 32s):
And maybe they read this book too. And maybe there's like a bunch of Hughes at this place. You know, people who are generally healthy and who take good care of themselves, but are just really looking for that challenge and that next level. But what you described as like the, I guess, avatar, if you will, for this retreat or this experience was very different. So why don't you kind of share a little bit about that?
0 (30m 59s):
Yeah. It was of the 70 odd people that are at this wellness retreat. There there's maybe like five or six of quote unquote Meese, like people that are in their thirties or forties went, they're quite healthy and then, you know, left even healthier. So, you know, less than 10% for sure. It actually, they were, you know, kind of not like surprised, but they were just like, oh, wow, like you're one of the very few people that actually check in at your optimal BMI at your optimal weight at your optimal body fat. Like I was in the green for all of those things. Most people are not even in the yellow, which is like, you know, the next up from green, which is, you know, turning in the wrong direction, but they're in the red, which is obese.
0 (31m 46s):
And that's just, most of the people there, they're probably in their mid fifties, you know, all the way up to the seventies, you know, they've been really having some bad health habits for quite some time. And they, you know, frankly had a scare, maybe heart attack, just terrible cholesterol levels and their blood pressures horrendous. They're on a lot of medication. They're diabetic. Some people were there with cancer and a lot of people with food addictions, they were just quite, quite obese. So that is probably more like the 80% of the people that are there. And then like the remaining people may, or just be kind of like fairly healthy, but, you know, they, they've just kind of been exposed to water fasting over the years.
0 (32m 33s):
And now they're like in their 50, 60 seventies and they just kind of want to keep coming back and enjoy the comradery and the experience overall. So that's kind of the breakdown and it was again, really cool getting to meet these people, hearing their journey, seeing their success. And, you know, I just, I'm, I'm a really, really big fan of the place and the overall concept. And I'm looking forward to a return trip there sometime in the future. So let's move into the May, 2021 income break down. Our product service income was $206,000. Our journals degree, we had a 304 total that were sold.
0 (33m 13s):
We had 97 freedom journals, 43 Mashery journals. And the winner this month was 116 podcast journals. Yay. Yeah, we also did quite well in Podcaster's paradise with almost $20,000 in revenue. Our podcast sponsorships were absolutely crushed in a great way. We crushed it, you know, in large part, thanks to our new HubSpot partnership at $175,000, which has gotta be the highest I think we've ever had. And we did almost $10,000 of ClickFunnels for affiliates Libsyn $600, crush it with challenges, 1100 impacting millions with Selena Soo, almost $2,000 for a total gross income of $222,000.
0 (34m 3s):
We did have a lot of business expenses this year. One of those this month, a lot of that came from our final bulk buy fulfillment payments. We had all this money that we made through our bulk buys for the common path on comma success. And we had to of course, you know, make good on those payments. And that was $71,000, which will not be a recurring expense. That was just say our final wrap up of that. And that's brought our total expenses to $101,000 for a net profit of $121,526. And Kate's going to take us home by sharing the biggest lesson learned that creating good habits.
0 (34m 46s):
Ain't always easy. That is so true,
3 (34m 50s):
But it doesn't mean that you shouldn't try. And it doesn't mean that good habits can't actually become good habits because this is the thing. It doesn't always have to be perfect every single day to still make an impact. And I think that's what sets so many people back with good habits is that you try something for a few days and then you miss a day. So you're like, ah, I didn't do it yesterday. So I guess I'll just like not do it anymore. John called me out last night. He's like, so how was the cold punch today? I'm like punch today, but you better believe I did it this morning, even though I missed it yesterday, because that's a thing about it.
3 (35m 33s):
Creating good habits is understanding what's most important to you, your non-negotiables and then finding ways to work those into your daily lifestyle. I've found that once you're able to build your non-negotiables into your lifestyle, that you don't even have to think about it anymore. You just do it. And one example of this that I love using is brushing your teeth, right? None of us wake up in the morning and think like, Hmm, do I want to brush my teeth this morning? Like, it's just something that we do. It's a non-negotiable and you can make anything that is really that important to you. A non negotiable. Now of course, building things into your lifestyle takes time.
3 (36m 14s):
I didn't start doing the cold plunge. And then all of a sudden, I just did it every single day without even thinking about about it because it's not flawless and it's not easy. You weren't born yet walking. You didn't get a hole in one. The first time you picked up a golf club, you're not draining threes. The first time you pick up a basketball. And when you're thinking about the good habits that you do want to create, I really highly encourage you. If you're like, I have just no idea where to start is to try doing them in tandem with your goals. So I'm going to give a few examples. If you have a goal of eating better or becoming more active or quitting your day job, like this could be personal relationships could be spiritual.
3 (36m 59s):
Like maybe meditation is something you want to get into. It could be work-related business-related leadership related anything. So no matter what your goal is, I want you to think about if there was one thing that you could incorporate into your daily lifestyle, that would help you accomplish that goal. What might that be? So if eating better is your goal, then you could start by trying to incorporate into your daily lifestyle, eating a salad or some type of raw food, at least one time per day, just once a day, eat a salad, not that hard. And they taste really yummy if you make them well becoming more active. So if that's your goal, then try and make it a habit to do some type of workout or walk every single morning do at first thing, when you wake up, because as you, both of us know that the more you push these things that you're trying to make into habits in later into the day, the more opportunity and chance there is for them to not happen.
3 (37m 58s):
But if you just do them, first thing, when you wake up, like you already get to check that box and of quitting your day job is your goal. Then make it a habit to spend 30 minutes per day, researching how you're going to replace your income. Maybe that is a daily habit that you start to incorporate in your lifestyle. So that the first 30 minutes of your day, 30 minutes of your lunch break, 30 minutes on your way home from work, whatever it might be becomes the time that you use to research how you're going to replace your income. And I want to wrap back to it, not having to be perfect every single day. If you don't get a rough food meal in once a or you didn't get your workout in, or you find yourself at 10:00 PM ready to go to bed, but you haven't done your 30 minutes of research yet don't give up just because you miss a day and trying to create this daily habit of yours doesn't mean that you can't pick it back up tomorrow.
3 (38m 53s):
But what I do want to challenge you with is when you do miss a day, I want you to commit to understanding why you missed it and then let that help inform how you move forward. So if I miss my workout yesterday and it's because I didn't do it, first thing it's because it was in the afternoon. And then there became way like a plethora of excuses I could use to not do it. Then how I could let that help inform me moving forward is to do my workout first thing in the morning, because I know when it gets pushed to the afternoon, that my percent chance of actually doing it goes down. So understand why you are missing these things that you want to become habits and let that help inform how you move forward.
3 (39m 35s):
Fire nation. You've got, and as always
0 (39m 38s):
Fire nation, we will catch you on the flip side. Hiring can feel like trying to find a needle in a haystack, but when you post a job on zip recruiter, their matching technology finds these qualified candidates for you and invites them to apply. So while other companies give you too many options, ziprecruiter finds you the needle in the haystack. And right now you can try ZipRecruiter for free at ziprecruiter.com/fire. Customers want more from brands. Delivering more means owning the customer experience, taking control over data acquisition analysis, creative and delivery, Klaviyo calls, this owned marketing, and they believe it's the best path to growth for more visit Klaviyo.com/fire.
0 (40m 20s):
That's K L A V I Y O.com/fire.
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