Latest EOFire Podcast EOFire’s December 2016 Income Report

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

December 2016 Income At-A-Glance

Gross Income for November: $216,474

Total Expenses for November: $71,376

Total Net Profit for November: $145,098

Difference b/t December & November: +$1,228

eofire income report button

Why We Publish An Income Report

This monthly income report is created for you, Fire Nation!

By documenting the struggles we encounter and the successes we celebrate as entrepreneurs every single month, we’re able to provide you with support – and a single resource – where we share what’s working, what’s not, and what’s possible.

There’s a lot of hard work that goes into learning and growing as an entrepreneur, especially when you’re just starting out. The most important part of the equation is that you’re able to pass on what you learn to others through teaching, which is what we aim to do here at EOFire.

Let’s IGNITE!

CPA On Fire’s Monthly Tax Tip

What’s up Fire Nation, my name is Josh Bauerle. I’m a CPA and the Founder of CPA On Fire, where we specialize in working with entrepreneurs to minimize their tax liability while keeping them in line with the ever-changing tax laws.

I’ve been working with EOFire for years now, and John and Kate have included me in these monthly income reports with unlimited access to all their accounts so I can verify that what they report here is complete and accurate.

And because they believe in delivering an insane amount of value to you, my job doesn’t stop at the verification level; I’ll also be providing tax and accounting tips to you along the way!

Josh’s December Tax Tip: What it Means to be An Employer

According to psychologists, the three biggest fears for humans are:

  • public speaking,
  • death, and
  • hiring their first employee.

Okay, okay, fine – I made the last one up 😉

But for entrepreneurs and small business owners, it’s probably not far from the truth. Bringing on an employee for the first time comes with the fear of increased costs, extra taxes and paperwork, and making sure you have the cash flow to keep your new employee paid and happy.

Note: this tax tip is geared specifically towards hiring an employee – not bringing on a contractor or virtual team member. Want to learn more about the differences? Check out our October 2014 Income Report where I review employees vs. contractors and virtual assistants.

I want to share this tax tip because you should absolutely know what you’re getting yourself into and make sure your business is ready for that jump, because the truth is, bringing employees into your business can be a great thing.

So to make sure you’re prepared, here are three keys to surviving your new life as an employer.

3 Keys to Surviving as a New Employer

1. Hire an Amazing Payroll Company

Is it possible to handle your own payroll?

In theory, sure, and I’ve had clients try to do just that. And every single time, without fail, they switch to a payroll company within a few months of starting.

Why?

Payroll taxes are really, really confusing.

There’s employer taxes, employee taxes, withholding taxes, unemployment taxes and potentially state

and local taxes on top of all that.

That’s not to mention things like state and federal laws to monitor, wage garnishments, and other hiccups that can make life miserable while running your own payroll.

Oh, and did I mention that some of these taxes will be filed monthly, some will be filed quarterly, and some will be filed annually?

Is your head spinning yet?

GOOD. I’m trying to make sure you never attempt to do this yourself!

Hiring a great payroll company will take all of this responsibility out of your hands. You will essentially tell them who gets paid what and when, and they will take care of the rest.

Don’t try and do this yourself; hire the experts!

When it comes to payroll companies, there’s no one we recommend more than Gusto. They’re affordable AND they’ll make your payroll life infinitely easier!

2. Know Ahead of Time Your Costs Will Go Up

If you are used to paying contractors, switching some or all of them to employees will increase your costs.

Now, instead of just paying their wages, you have to add in employer social security and medicare taxes (about 7.6% of their pay), unemployment taxes (probably a few hundred dollars per quarter), and workers comp insurance.

Most of these costs will be tax deductible, which takes the small bite out of them, but a safe estimate is that making someone an employee over a contractor will increase your costs by about 10% of their annual pay.

Plan accordingly.

3. Have an Understanding of Your State and Federal Employment Laws

I know, I know, I told you in tip #1 that this was the reason you should hire an expert – and I stand by that. But you still have to have a decent understanding of the laws involved with being an employer.

First of all, the government will ultimately hold you responsible for any mistakes made in this area, even if you have a payroll company. So you need to know what’s going on and make sure nothing is being missed.

My best recommendation here is to talk with a CPA and an attorney you trust before bringing on your first employee.

Find out if there are any laws you need to be aware of, if there are any contracts you need to have signed, and if there are any other do’s or don’ts both you and your payroll company need to be following.

A great resource if you live, work and will be hiring employees in the United States is SHRM.

Adding your first employee can be a great move for your business, but you need to make sure you’re doing things properly.

Follow these three tips and you will make this often scary process much easier to handle!

If you have a question you would like to see covered in a future income report, leave it in the comments section below, or reach out to me directly!

As always, please feel free to contact me if you’d like to discuss what would be best for YOUR business. I LOVE chatting with Fire Nation!

*Bonus* If you haven’t checked out Josh’s FREE course on business entities yet, you can get it here!

Kahuna’s Accounting Tip

Frank Lunn is Founder and CEO of Kahuna Accounting, a virtual entrepreneur accounting team assisting Entrepreneurial Victory Achievers to achieve their victory!

Frank’s December Accounting Tip: Learning to SURF Success in 2017

There are lots of buzzwords attributed to entrepreneurship, but if I had to choose only two I would pick Intentional and Adaptable.

‘Intentional’ is being specific; focused to know exactly what you want, why you want it, and what you need to do to achieve it.

Intentional is an aiming mechanism for where you want to go.

‘Adaptable’ is a response mechanism. Once started, you make adjustments based on new information or results. No one goes from their departure point to their intended destination without making changes based feedback received along the way.

Adaptability allows you to accept feedback and correct course.

At Kahuna Accounting, we use a surfing metaphor as a strategy tool to adapt and respond to entrepreneurial waves.

We can’t control waves in our life, but we can respond utilizing the S.U.R.F Strategy™ to adapt and make the best of the waves we are given.

S.U.R.F.

  • Survey
  • Understand
  • Respond
  • Focus

Accounting for entrepreneurs is accounting for success utilizing your numbers to keep score and provide feedback. You can apply the SURF Strategy to assist you in achieving your goals.

  • Survey your financials.
  • Understand how you did in relation to how you wanted to do within a time period.
  • Respond and adapt as necessary.
  • Focus on what you intentionally set out to achieve.

SURF as an entrepreneur success strategy is simple and yet complex: you have to put it to action in order to reap the benefits, and lucky for us, it’s a skill you can apply in every area of your business and life.

Happy SURFing in 2017!

Learn more about Kahuna Accounting!

What Went Down In December

The Mastery Journal Arrives!

December was a month filled with celebrations of all kinds.

1. We celebrated John’s 37th birthday!

2. The night before, the very first complete hard copy of The Mastery Journal arrived

3. The holidays!

The Mastery Journal

Receiving the first hard copy of The Mastery Journal was definitely a treat – and a huge relief.

Allow me to explain…

The timeline we’re on for a January 23rd launch on Kickstarter required that A LOT of things happen at very specific times. Because of all the dependencies, missing a deadline could drastically hurt that timeline.

That said, the timeline from when we submitted final files to the printer and when The Mastery Journal actually went to print was super tight, and so while it would have been nice to have full hardcopies sent to us for in-depth review, we didn’t do that.

Needless to say, having the hardcopies arrive and holding them in our hands, thumbing through them, seeing the binding and the print – we were very grateful they turned out amazing!

The Freedom Journal on Amazon

Since hiring our most recent new team member here in Puerto Rico, Ian, we’ve been able to make some big moves on Amazon as it relates to our Freedom Journal sales.

When Ian came on board The Freedom Journal on Amazon was the first project he took on, which included:

  • Keyword research
  • Coaching w/ a listing expert
  • A lot of testing

While the holidays certainly have played a role in our increased sales over the past couple of months, we’re confident we wouldn’t be where we are right now without Ian’s contributions!

We looked forward to continuing to track trends with our listing and sharing them with you right here in our monthly income reports 😉

Holiday Fun

Towards the middle of December we started to experience first-hand just how a big a deal the holidays are in Puerto Rico.

From an Ugly Christmas Sweater Party to a Golf Cart Light Parade to music and cheer in the Plaza, Palmas Del Mar was like one big holiday festivity super center!

After attending every event possible in Palmas, we each headed our own way: home to spend Christmas and New Years with family and friends.

San Diego was beautiful as ever…

San Diego Christmas

While Maine flirted with zero degrees nearly every day!

New Years in Maine

I got to experience the best of both worlds, and John finally got in a 3-day Sugarloaf trip in after having leaned his skis for over 3 years.

No matter where you spent the holidays, we hope you were snuggled up with family, friends and loved ones.

Happy New Year, Fire Nation!

Happy New Year

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

December 2016 Income Breakdown*

Product/Service Income: $140,929

The Freedom Journal: Accomplish your #1 goal in 100 days!

  • Shopify: $20,941 (420 Freedom Journals & 91 Digital Packs sold!)
  • Amazon: $28,425 (737 Freedom Journals sold!)
  • Total: $49,366

Podcasters’ Paradise: The #1 Podcasting community in the world!

  • Recurring: $15,490 (7 annual, 198 monthly)
  • New members: $10,125 (47 new members)
  • Total: $25,615

Podcast Sponsorship Income$59,250

Podcast Websites: $5,000 Your all-in-one podcast website peace of mind

Free Podcast Course: A free 15-day course on Podcasting

Free Webinar Course: A free 10-day course on Webinars

Free Goals Course: A free 8-day course on Setting & Accomplishing Goals

Funnel On Fire: A free 8-day course on Creating a Funnel that Converts!

WebinarOnFire: $1,319 Learn how to Create & Present Webinars that Convert!

SkillsOnFire: $164

Podcast LaunchAudiobook$180 | eBook: $35

Affiliate Income: $75,545

*Affiliate links below

Resources for Entrepreneurs: $25,660

Courses for Entrepreneurs: $46,431

Resources for Podcasters: $1,255

Other Resources: $2,199

  • Amazon Associates: $863
  • Other: $1,336

Total Gross Income in December: $216,474

Business Expenses: $68,307

  • Advertising: $4,497
  • Affiliate Commissions (Paradise): $1,096
  • Accounting: $350
  • Cost of goods sold: $6,403
  • Design & Branding: $1,980
  • Education: $59
  • Legal & Professional: $367
  • Meals & Entertainment: $704
  • Merchant / bank fees: $2,427
  • Amazon fees: $7,033
  • Shopify fees: $361
  • Stripe fees: $26
  • PayPal fees: $350
  • Office expenses: $728
  • Payroll Taxe Expenses: $1,407
  • Promotional / events: $318
  • Paradise Refunds: $2,889
  • WebinarOnFire Refunds: $1,319 (invoice total)
  • Shipwire: $6,000
  • Sponsorships: $10,956
  • Show notes: $408
  • Total Launch Package Fees: $175
  • Travel: $1,015
  • The Freedom Journal: $9,009
  • Virtual Assistant Fees: $5,570
  • Website Fees: $2,860

Recurring, Subscription-based Expenses: $3,069

  • Adobe Creative Cloud: $100
  • Avangate: $470
  • Boomerang: $80 (team package)
  • Brandisty: $24
  • Authorize.net: $91.10
  • Cell Phone: $258
  • CCBill: $20
  • Dropbox: $99 (annual subscription)
  • Google Storage: $9.99
  • Go2MyPC: $12
  • Internet: $332
  • eVoice: $9.95
  • Infusionsoft CRM: $359
  • Insurance: $551
  • Libsyn: $323
  • Chatroll: $49
  • PureChat: $20
  • ScheduleOnce: $9
  • Skype: $2.99
  • Shopify: $20
  • Scout: $10
  • TaxJar: $19
  • Workflowy: $4.99
  • MeetEdgar: $49
  • Wistia: $25
  • WPCurve: $29
  • Zapier: $15
  • Taxes & Licenses: $77

Total Expenses in December: $71,376

Payroll to John, Kate & PR Team: $18,395

In our May 2014 Income Report and our June 2016 Income Report, Josh focuses on how to pay yourself as an entrepreneur. Check them out!

Total Net Profit for December 2016: $145,098

Biggest Lesson Learned

Goals and 3 Words

Inspired by Chris Brogan, I started my own tradition of choosing 3 words based on my goals for the New Year to help represent my vision and guide me towards success. If you’ve never done this before, I highly recommend it.

Having my 3 words last year, which were Systems, Leverage, and Strength, not only helped me get back on track when I was feeling a little ‘out of the lines’, but they also helped encourage and motivate me.

This year, my 3 words are Breathe, Commit, and Share.

While my goals remain somewhat consistent with those I had in 2016, my words seem completely different.

Turns out, they actually aren’t all that different in meaning.

If you haven’t set your goals for the New Year, and if you’re feeling like having 3 words to help guide you throughout the year might be helpful, then I encourage you to take 30 minutes today to sit down, reflect, and write it down.

Alright Fire Nation, that’s a wrap!EntrepreneurOnFire

Until next month, keep your FIRE burning!

~ Kate & John

Note: we report our income figures as accurately as possible, but in using reports from a combo of Infusionsoft & Xero to track our product and total income / expenses, they suggest the possibility of a 3 – 5% margin of error. 

Click here for all of EOFire’s Income Reports

This post was written by Kate Erickson, Content Creator and Implementer at EOFire. Follow Kate on Social:

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from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2iW8Xsx

Latest EOFire Podcast 7 Growth Hacks for Your Podcast

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

growth hacks podcast

There are a set of very specific steps you can follow to launch your own podcast; the tough part comes after you’ve launched and suddenly, you find yourself live in iTunes wondering:

“How do I actually grow my podcast?”

We all want the same things with our podcast:

  • To provide consistent and valuable content to our audience;
  • To have a growing listener base; and
  • In effect, to grow our overall business.

In this post we’re going to cover 7 growth hacks you can use for your podcast that will help you to provide consistent and valuable content, start growing a listener base, and as a result, grow your overall business.

But before we dive into the 7 growth hacks, let’s take a step back and make sure you have a solid foundation set for your podcast. Being able to grow your podcast depends on having these pieces in place first.

A solid foundation to growth hack a podcast

Define your avatar and identify your niche

Knowing exactly who you’re creating your podcast for (your avatar) and being able to niche down so you’re not trying to speak to everyone are two of THE most important parts of your foundation.

If you’ve already launched your podcast without knowing who you are speaking to, or what specific value you have to provide them based on your niche, then you shouldn’t be thinking about how you’re going to grow your podcast audience yet.

First, you need to define your avatar and identify your niche so you know specifically what type of content you can create with your podcast.

Confirm uniqueness

Once you know who your avatar is and you’ve identified your niche, you’re one step closer to being able to grow your podcast!

Next comes a step that most new podcasters skip: confirming uniqueness.

What’s your UVD: your Unique Value Distinguisher? (thanks for that JLD!)

This is what sets you and your podcast apart from all the other podcasters and podcasts in your industry or niche, and it will be a BIG reason why listeners choose YOUR podcast over another.

If you don’t have a UVD yet, then take a time out and start brainstorming.

  • What makes YOU different than other podcasters in your industry or niche?
  • How will you present your content in a unique way?

Make your podcast different.

Whether that be in the way it’s formatted, the frequency, how you start it, how you end it – you have to find something that will make it stand out.

This is also going to require some research on your part. What are other podcasters doing in your industry or niche currently?

If your podcast is a copy of what dozens of people have created before you, you’ll never be able to differentiate yourself, and therefore, you’ll never be able to grow your audience.

For me, my UVD was my podcast being a solo Audio Blog, which there aren’t many of out there.

To add to that, I’m also 100% transparent on my podcast – something else you don’t see too much of. I share dollar amounts, percentages – a complete behind-the-scenes look at how we continue to run and grow a multi-million dollar business.

Choose Your Podcasting Frequency

Consistency is key in podcasting; it’s important that you commit to a publishing schedule so your listeners can rely on you and the content you’re providing.

Your podcasting frequency should be a combination of:

  • What you can realistically handle given your other projects and priorities, and
  • What your perfect listener would hope for

There are a lot of decisions you’ll be making while setting the foundation for your podcast, but remember: not all of these decisions have to rest on your shoulders. Your avatar is who you should be turning to every step of the way: what would your avatar say if you asked them how often you should publish a new episode?

Decide on the Format and Length of Your Episodes

The format and length of your episodes is an important decision to make; however, these are not decisions that should hold you back from just starting.

Again, it’s important to consider your avatar when making a decision on the format and length of your episodes.

Ask yourself questions like:

  • Would my avatar prefer an interview show, a topic-based show, a Q&A format, or a combination?
  • Would my avatar have the time, patience, or even the desire to listen to a 2-hour episode, or would they be more excited about a quick, straight-to-the-point 20-minute episode?

Knowing the format of your episodes and how long each of them will be – even if it ends up being a draft that helps you get started – completes the foundation of your podcast.

7 Growth Hacks for Your Podcast

Now that you know what the most important parts of your foundation are – the things you’ll need in place before you start looking at how to grow your podcast – let’s dive into the 7 growth hacks for your podcast!

1. Launch Your Podcast with 3 Episodes

If you’ve already launched your podcast, never fear: even if you didn’t launch with three episodes, hopefully you have at least three episodes live now.

The reason launching with three episodes can help you growth hack your podcast is three-fold:

1. When someone sees your podcast, they’ll immediately be able to get a good taste of what you have to offer without having to wait before you publish your next episode, which in some cases could be weeks away.

It essentially speeds up the decision-making process for your listener: are they going to continue listening or not?

2. Three episodes allows you the opportunity to publish Episode 000 – an intro episode that’s about you, why you started your podcast, and why your listener should care – in addition to giving them your actual content in Episodes 1 and 2.

3. With three episodes, you have 3x the downloads.

If you launch with more than three episodes that’s great, but oftentimes podcasters don’t have the bandwidth or the “episodes in the bank” to support launching with a ton more AND still having episodes on standby to use over the coming weeks.

Also, iTunes rankings do seem to be at least partially based on the number of downloads your podcast has receive in the last 24 hours.

So, while launching with more than three episodes might give you a HUGE spike in downloads right off the bat, it’s likely to actually hurt your rankings moving forward since iTunes will be comparing all your future downloads per day to that one huge spike you saw from launching with a ton of episodes.

2. Be Consistent

Consistency builds trust, loyalty, momentum and engagement, and all of these are critical factors when it comes to your podcast’s growth.

While being consistent may not sound like a growth hack, the truth is you cannot grow a podcast audience all on your own.

The trust and loyalty factors will ensure your early listeners keep coming back for more; the momentum will help you reach more people faster; and the engagement will ensure you’re getting feedback directly from your listeners to help you continuously improve what you have to offer.

3. Connect with Your Listeners

Connecting with your listeners doesn’t scale, but it can be a massive growth hack for your podcast if you take the time to do it right.

All that’s required is a strong call to action from you on your podcast inviting listeners to do one of the following:

  • Reach out to you via email
  • Fill out a form on your website that captures their email address
  • Schedule a one-on-one call with you

Connecting with your listeners and asking them questions like:

  • What is your #1 struggle or fear right now?
  • What are your biggest dreams and aspirations?
  • What is your favorite thing about the podcast?
  • What do you feel would improve the podcast?

Will give you the exact feedback you need to skyrocket your podcast’s growth.

Once you’ve had these chats with anywhere from five to 25 of your listeners, you’ll be able to take a look back at the data and identify common themes. Those common themes are things you can use to improve, and therefore grow, your podcast.

4. Create Community

As human beings we all want many of the same things, and one of those things is connection. We want to know that we’re not alone.

You creating a space for your listeners to come together and start to create a community will help them feel connected and give them a reason to continue coming back to you.

Create a platform that allows your audience to engage not just with you, but with others who are like them.

This might be a Private Facebook Group, an in-person meet up at a conference or event, or simply in the comments section of your blog.

Creating a safe space where people feel comfortable and know they can go to be surrounded by like-minded people will again, give them a reason to come back to you.

5. Guest Posts and Guest Podcasting

Two of the most underutilized growth hacks for growing your podcast are guest posting and guest podcasting.

Does it take time to build relationships and find the right connections so that when you do guest post or appear on someone else’s podcast it’ll benefit the host, your host’s audience AND help you grow your podcast all at the same time?

Of course it does. If it didn’t, and it was super easy, then EVERYONE would be doing it.

Perhaps that’s why more people aren’t doing it, which means it’s the perfect time for you to step up.

Every time you find another website or podcast that’s in the same industry or niche that you are – and that is speaking to a similar audience – that’s another opportunity for you to put yourself in front of a whole lot of people who may have never heard of you before.

Continue putting yourself on multiple platforms and you will gain exposure for you, your brand, and your podcast.

6. Have a Strong Call To Action

One of the beautiful things about podcasting is that the barrier to listening to podcasts is extremely low. Anyone with an Internet connection can press play!

Great news for us podcast producers, right?

YES.

But what if listeners are tuning in to your podcast, getting great content from you, and then at the end of the episode, you’re simply saying, “okay thanks, bye!”

We’re all BUSY.

We don’t always take the time to think about what our next step is supposed to be; we sort of get into the habit of just going with the flow.

“Okay thanks, bye!” = “Bye!”

Your listener is now gone and off to the next thing on their list.

But what if you had a strong call to action in every single one of your podcast episodes where you were literally telling your listeners what their next step should be?

Then, you’ll be making it easy for them to know exactly what you want them to do; plus, you’ll be adding even more value to their experience.

Send them:

  • To your website for the show notes (“Remember, you can get all the links and references mentioned on today’s show by going to…”)
  • To a content upgrade that gives them a free download and is directly related to the episode they just listened to (“If you want to grab a checklist for all 7 Growth Hacks for Your Podcast that we’re going to talk about today, head over to… to download it now!”)
  • To your email inbox (“I’d LOVE to hear your feedback on today’s episode and I’m always here for you; send me an email at…!”)
  • A question (“What’s the ONE thing you would change about… Head over to the show notes page and drop down to comments section to share!”)

A strong call to action to invite your listeners deeper into your world, whether that be via your website or your email inbox, can lead to rapid growth for your podcast.

7. Test it on Social Media

Not sure what type of content will move your audience most?

Wondering if anyone is out there listening?

Test out different titles, topics and types of content on social media to get quick feedback from your ideal listeners!

If you’re struggling with anything having to do with your podcast, the content you’re sharing, or otherwise, investing even a small amount of money in Facebook, Instagram or YouTube ads could be incredibly helpful.

You don’t have to be an ads pro on any social media platform to get started; it might be something as simple as boosting a poll on Facebook that is asking your followers what topic they’d like to hear about most, or posting an image on Instagram that has a catchy call to action to fill out a survey on your website that will give them X in return.

Will these work to growth hack my podcast?

Growth hacks are not all created equally.

Some of the 7 I’ve shared here will be a lot more time intensive than others, but the purpose of this post is to get you thinking about the different actions you can start taking right now to get the word out about your podcast and start growing your audience.

I didn’t invent these 7 growth hacks for your podcast – quite the opposite, actually.

Since I launched my podcast, Kate’s Take, back in August 2014 I’ve been implementing and testing out every single one of these growth hacks myself.

And guess what?

They’re working.

And if they’re working for me, I know they can work for you, too.

Over the past two years I’ve…

  • Practiced a lot of patience;
  • Continuously taken action to improve my podcast over what it was yesterday;
  • Never given up – even when I was feeling REALLY frustrated;
  • Continued to brainstorm and innovate;
  • Reminded myself that slow and steady growth is a good thing; and
  • Focused on continuous improvement and serving my audience.

After implementing the 7 growth hacks above to help grow my podcast, I’ve more than doubled the amount of downloads my podcast gets on daily basis, and the trend is still on the up-and-up.

Kates Take download stats

I’ve also spoken on stage over 10 times as a direct result of exposure and connections I made through my podcast.

And it’s because of my podcast that I’ve been able to consistently sell over 50 copies of my eBook, The Fire Path: A Beginner’s Guide to Growing Your Online Business, every single month.

The Next Step: Monetize Your Podcast

Wondering what’s next now that you know 7 powerful growth hacks for your podcast?

Once you start growing your podcast and have an audience to speak to, the sky’s the limit.

There are multiple ways you can go about monetizing your podcast, and sponsorship revenue is probably one of the first thing most podcasters think about when it comes to monetizing their podcast.

However, there are several other ways you can monetize your podcast, too.

A few examples are:

  • Self-publish a book on Amazon, then use your podcast as a tool to promote it;
  • Through affiliate relationships that will serve your audience;
  • Podcast sponsorships;
  • Create products for your audience;
  • Create services for your audience.

What are your top growth hacks for your podcast? Share with us in the comments section below!

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Latest EOFire Podcast 158: What I learned about running a successful business

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

lessons on running a successful business

In November 2011 I quit my corporate job in San Diego, packed my bags, and moved cross-country to Portland, Maine.

Upon arrival, you can imagine those I met had a few questions, like:

  • Why Maine?
  • Why would you leave San Diego?
  • What made you quit your job?

The first two were easy to answer: John Lee Dumas.

The third one – that’s the one I probably answered ten different ways before finally realizing myself what actually made me quit my job.

It was then that I realized how big of an impact reflection can have on our journey.

Had I not been asked 345 times what made me quit my job, I very well would have continued living my life, never stopping to think about how I ended up where I was.

The impact reflection can have on our journey

Since that realization – about the impact reflection can have on our journey – I’ve taken reflection very seriously in every area of my life.

In terms of business:

  • Reflection is what helped me realize what I’m best at.
  • Reflection is what has helped me uncover multiple times why I’m in a funk.
  • Reflection is what helps me create my goals for the next year every single December.
  • Reflection is what helps us discover the things we’re doing right in our business – and more importantly, the things we’re not doing right.

As you can see, reflection has played – and continues to play – a huge role in my every day success as an entrepreneur. Without it I don’t know where I’d be, but it certainly wouldn’t be where I am right now.

Practicing what I preach, I recently took some time to reflect with John on our biggest lessons learned in 2016 so we could share those with you.

It didn’t take us a long time, nor was it some master plan we had to come up with before getting started.

We simply carved out 30 minutes of time, removed distractions, and started writing down what we’ve learned this year.

And here are the results…

Our top 9 business lessons of 2016

For details on each of the top lessons listed here, tune in this episode!

Fail To Plan and You Plan to Fail

  • How much time is wasted when you don’t have a plan in place
  • How planning helps you take massive action

Mindset Dictates Action

  • Every time you feel something, do something, or react to something, you have a choice to make.

Recommended reading: Awaken the Giant Within

The Big 3 for Mastering Your Day

  • Productivity, discipline and focus

Recommended resource: The Mastery Journal

Reflection is Necessary

  • I’ve learned more this year from taking a steps back and reflecting on my previous experiences – and the experiences I’m having in the moment – than from anything else.

What it Means to be an Entrepreneur

Recommended resource: Kate’s Take Season 4

Connections Required

  • In both business and life (asking for recommendations, learning from those who came before you, etc)
  • Support and guidance are integral

Recommended reading: Never Eat Alone

Freedom: You Get To Choose

  • The Freedom Journal and watching those in the Freedom Journal group accomplish – crush – their goals!

Recommended resource: The Freedom Journal

Community Is Crucial

  • How Fire Nation continues to encourage, motivate and inspire us in everything we do.

Managing a Team

  • It’s the best and the toughest thing you’ll do as an entrepreneur.

Recommended reading: Virtual Freedom

The post 158: What I learned about running a successful business appeared first on EOFire Business Podcasts.

       

 

 

from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2hXH2Hf

Latest EOFire Podcast S4E10: The requirement to take action as an entrepreneur

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

take action

Becoming an entrepreneur brings with it a great responsibility.

You may have given up a 6 or 7-figure salary, health benefits, 401k matching, and a whole lot more when you took your entrepreneurial leap, which is incredibly hard to do.

But now comes the real hard part: just starting.

Your goals for your business are BIG, as they should be, but looking at the list of things you want to accomplish, you start to feel overwhelmed.

Paralyzed by not knowing what your next step is, you start to have doubts:

Am I ever going to be able to make this work?

Breaking down complex problems and projects

In January of 2015 I had a pretty massive ah-ha moment – one that has reshaped my role and my focus in our business.

In January 2015 realized that my biggest strength is systems.

Since, I’ve become obsessed with leveraging what it is I’m best at: taking complex problems and projects and breaking them down in smaller, manageable steps so that our team can work together to accomplish the goals we’ve set.

Through this experience – discovering what it is I’m best at – I’ve realized that being a successful entrepreneur isn’t about knowing exactly what is going to happen at every step, it’s about taking the next step regardless.

As Mark Twain said,

“The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into smaller manageable tasks, and then starting on the first one.”

Identifying the points along the way

When I decide to start my own podcast, Kate’s Take, I hadn’t yet discovered what I was best at.

Now, this doesn’t mean that it wasn’t what I was best at then, too – it just means that I hadn’t realized it yet.

Once I had made the decision to start my own podcast, I spent a good couple of weeks hemming and hawing over how I was going to accomplish this goal.

I had all the resources, all the equipment, all the support I needed, but I didn’t know where to start – what to do first.

I’m sure you can relate – that at some point on your entrepreneurial journey you’ve known exactly what it is you want to accomplish, you’re just not sure how to get there.

Going from Point A (where you are now) to Point Z (accomplishing your goal) is a HUGE leap – one that’s never going to realistically happen.

So, knowing there is something like 24 points in between where you are now and where you want to be, wouldn’t it seem logical that your next step is to identify what those points are?

Grant Cardone writes in his book The 10X Rule:

There are no shortcuts. The more action you take, the better your chances are of getting a break. Disciplined, consistent, and persistent actions are more of a determining factor in the creation of success than any other combination of things.

Choosing your scenario

Which scenario seems more like the scenario you want to be a part of:

Scenario A: You have your goal, but you’re not sure where to start, so you don’t start at all. Instead, you shuffle a few papers around, jump on social media, and settle for the idea that you’ll “figure it out later”.

Scenario B: You have your goal, but you’re not sure where to start, so you sit down, brainstorm for about five minutes, and then start writing out the steps you know you need to take to get there.

Each scenario is equally possible.

It’s up to you to decide which one you’re going to choose.

What if you woke up every single day and approached that day as though your life depended on the actions you take?

I know this might sound a little over the top… but is it?

Why you chose to become an entrepreneur

You’ve made the conscious choice to become an entrepreneur.

The reasons why you’ve made this choice are hopefully ones you’ve sat down and thought long and hard about, because the reasons why you’ve made this choice are what will help you move past and through some tough times.

The reasons why you’ve made this choice probably include ones like:

  • More time with family
  • Freedom to make your own decisions
  • Not taking orders from someone else
  • The ability to take vacations when you want
  • Dictating your own schedule
  • Pursuing your true passions
  • Being able to exercise your true strengths

If you recognize some of these reasons, then is it really over the top to suggest that every single day when you wake up, you approach it as though your life depended on the actions you take?

I don’t think it is, because it’s way too easy to say I’ll crush it tomorrow.

It’s way too easy to say I can just work on that later.

Would you say these same things about anything on your list of reasons why you became an entrepreneur?

…That you’re okay with spending more time with family tomorrow; that’s you’re okay with waiting for tomorrow to dictate your own schedule?

I know those who haven’t made the conscious choice to become an entrepreneur say these things every single day – they think it’s okay to wait until tomorrow to pursue their true passions and to exercise their true strengths.

But NOT YOU.

You’ve already taken the biggest action of all: you’ve chosen entrepreneurship.

You’ve chosen freedom.

THAT is your goal: freedom.

Making the commitment

Now, it’s time to go get it, and what many of us don’t stop to realize is it’s truly as easy to do something as it is to not do something.

Delaying your start will only push all the things you want to see in your life further into the future.

The question isn’t whether you’ll start and then fail, or start and then win – it’s whether or not you’ll start at all.

As Wayne Gretzky said, “You miss 100 percent of the shots you don’t take.”

No one can prepare you for what lay ahead on your entrepreneurial journey, because everyone’s path is different.

If you’re ready to start creating your future, then start today.

Taken from Chinese proverbs: “The best time to plant a tree was 20 years ago. The second best time is now.”

Be proud of the work that you.

Take conscious actions every single day to live the life you say you want and COMMIT.

Wise words on taking action and committing

Michael Gerber writes in The E-Myth: “The work we do is a reflection of who we are.

If we’re sloppy at it, it’s because we’re sloppy inside. If we’re late at it, it’s because we’re late inside. If we are bored by it, it’s because we’re bored inside, with ourselves, not with the work. The work can be a piece of art when done by an artist. So the job here is not outside of ourselves, but inside of ourselves.

How we do our work becomes a mirror of how we are inside.

In the process, the work you do becomes you. And you become the force that breathes life into the idea behind the work. You become the creator of the work you do.”

Jeff Goins says, “The risk of not committing is greater than the cost of making the wrong choice.”

Walt Disney said, “The way to get started is to quit talking and begin doing.”

From Grant Cardone:

“Don’t be confused by what looks like luck to you. Lucky people don’t make successful people; people who completely commit themselves to success seem to get lucky in life.”

He also writes,

“Taking massive action means making somewhat unreasonable choices and then following these up with even more action. This level of action will be considered by some to be borderline insane, well beyond the agreed-upon social norm – and will always create new problems. But remember: if you don’t create new problems, then you’re not taking enough action.”

In order to create the freedom you became an entrepreneur to achieve, you must take action.

With action sometimes comes failure, missteps, mistakes and disappointments. But with action also comes progress, momentum, growth, accomplishment and success.

That’s a wrap!

Season 4 has come to an end, but the journey continues on Kate’s Take.

Be sure you’re subscribed to the podcast so you don’t miss a single episode, including details on Season 5, coming Q1 2017!

And of course, you can visit our home base right here to find all the posts and episodes in Season 4.

The post S4E10: The requirement to take action as an entrepreneur appeared first on EOFire Business Podcasts.

       

 

 

from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2i63qP0

Latest EOFire Podcast S4E9: A new understanding of patience

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

practicing patience

They have it so easy – their business was an overnight success.

It’s because of the money they started with that they’re so successful.

His success comes straight from luck.

She knows x, y, z, and that’s why her business is so successful.

It’s easy to say all these things about others, their businesses, and their success.

What we see on social media, what we hear from others, what we make up in our own minds – it’s always going to be a small fraction of the overall story or truth behind how anyone is where they are today.

Expectations and patience

I started Kate’s Copy as a way to get my foot in the door as an actual, legitimate copywriter.

All the bestselling author’s I looked up to, the masterminds behind the flawless website copy I studied, and the geniuses who wrote sales pages as if they’d been born with the knowledge of brain science had me believing that if I started a business around copywriting, that it would only be a matter of time before I might become a bestselling author, someone who could write flawless website copy, or a genius sales page copywriter.

Turns out, it would only be a matter of time… just not the “matter of time” I had in mind.

After six months, I closed the door on Kate’s Copy.

All I gave myself is six months.

Patience?

I had very little of it.

I had very little patience for things like:

  • Not feeling like I was making any progress
  • Not being able to cash a check for 6 months
  • Not feeling accomplished

And it turns out it was my sole focus on the negative aspects of my business and my experience as a first-time entrepreneur that drove me to quit. I know this because by the time I actually closed that door, I had two paying clients, three freelance jobs, and people were actually referring me to their peers.

Showing up day after day

But it wasn’t enough.

I wasn’t anywhere near becoming an author, a mastermind copywriter, or knowing how to make a sales page come to life.

A big part of it was that I had set unrealistic expectations.

Was I really going to become an author – let alone a bestselling one – in a matter of six months, all while trying to build the foundation for a successful business?

The other part? I had zero patience.

Dr Seuss once received a rejection letter that read:

“Too different from other juveniles on the market to warrant its selling.”

Dr Seuss went on to have 300 million sales and was the 9th bestselling fiction author of all time.

Dr Seuess was not only resilient, something we talked about at length here, but he was also patient.

Grant Cardone writes in his book The 10X Rule:

Like every other aspect of growing your business, you have to keep showing up over and over and make it obvious that you are not going away.”

Plain and simple: I wasn’t willing to do that.

I wasn’t willing to continue showing up because I didn’t know the benefits of consistency.

I wasn’t even patient enough to take in the invaluable lessons I was learning every single day because I was so focused on my unrealistic expectations.

Grant Cardone also wrote:

Your biggest problem is obscurity – other people don’t know you and aren’t thinking about you.

Well that’s a novel thought.

It’s so easy to focus on the results we desire most without realizing what goes into the actions necessary to generate said results.

There is no finish line in entrepreneurship

Freedom, living the life you want to live, and achieving “success” is not an event. There is no finish line where we get to collect our medal and check our time.

It’s showing up, day after day, and practicing patience.

It’s showing up, day after day, and taking in the incredible experiences and lessons our journey is gifting us so we can use those to help move ourselves forward.

When you become frustrated by a supposed lack of progress, or by the fact that you haven’t accomplished a particular goal, I hope you’ll remember something Jeff Goins wrote in his book The Art of Work:

Nothing is wasted. No job, no task, no obstacle is useless, if we are willing to see how it can fit into our calling. … It [is] all preparation for [what’s] to come. As you explore your own calling, you will be surprised by how your previous experiences are conspiring to lead you in the direction of your life’s work. You just have to listen.

Patience is everything – taking a step back to reflect on your journey and take in the experiences you’re having and the lessons you’re learning every single day – that’s something I wish I would have learned a whole lot sooner.

We have to be willing to put in the time – to do things that don’t scale – to sacrifice in order to continue moving ourselves and our business forward.

Speaking of doing things that don’t scale, Grant Cardone also shared this about Starbucks founder Howard Schultz:

He then did something that most CEOS did not do: he traveled all over the country to meet with Starbucks patrons. Long after the average worker had gone home, billionaire Schultz was visiting his stores and meeting with coffee drinkers to find out how Starbucks could better satisfy customers.

Patience, showing up day after day, consistency, passion, sacrifices, resiliency – they don’t disappear.

Your journey continues… always

Your journey continues long after you’ve built a strong foundation for your business, long after you’ve locked in your first paying client, long after you’ve started generating recurring revenue, and long after you’ve reached the point where you truly feel you’ve attained success and freedom.

Do you see that it all continues – that if you can accept and embrace the path you’re on, take ownership of the decisions you make, and show up every single day and work hard for what it is you believe in – that you can actively be creating and living the life you’ve always wanted?

Mary Shelley wrote one of my favorite books of all time: Frankenstein.

To me, she was born a writer.

For the longest time I couldn’t help but envision what it might have been like to be her – this very romantic version of the life she lived as a woman in the 1800’s trying to sell her book to anyone who would take it.

After being rejected by leading publishers, Mary finally convinced a small publishing company called Lackington, Hughes, Harding, Mavor, & Jones, to take a chance on her.

The company accepted, but they didn’t even put her name on the cover.

Can you imagine the commitment?

The company only print 500 copies.

That was in 1818.

Of those 500 copies, booksellers only bought 25.

In 1831 – nearly 14 years later – a 3rd edition was published by Henry Colburn & Richard Bentley.

Frankenstein by Mary Shelley then become a bestseller.

Up next in Season 4 on What it means to be an entrepreneur

Up next, we’re going to be talking about the requirement to take action as an entrepreneur

You can visit our home base right here to find all the posts and episodes in Season 4!

The post S4E9: A new understanding of patience appeared first on EOFire Business Podcasts.

       

 

 

from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2hzafty

Latest EOFire Podcast S4E8: The setbacks we face as entrepreneurs

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

how to deal with setbacks

Setbacks – whether they’re put there by someone else, something else, or ourselves, we’re all going to face them as entrepreneurs.

Given this truth, what are some things we can do when we experience them – ways we can become more resilient?

It’s a big question, with an even BIGGER answer, because what we do when we experience setbacks stems from what we think.

What we do stems from what we think.

And because we all think differently, it becomes very difficult to suggest what one might do when facing a setback without first discussing mindset.

Luckily, we’ve discussed quite a bit of mindset, so I urge you to take time out and identify with how you’re thinking to make sure it’s in line with how you want to be.

Tony Robbins says “Decision is the ultimate power.”

With this, the question of what we do then becomes an individual question of: What will you decide? or as I like to put it, what will you choose when faced with a setback?

How our thoughts shape our actions

One of the biggest setbacks I’ve experienced on my entrepreneurial journey came in February 2012.

I had launched my own business in late 2011 called Kate’s Copy, and I was struggling every single day – over four months later – to find anything to grab ahold of that would give me confirmation that what I was doing would eventually turn into something.

I was attending meet ups regularly to put myself in front of potential clients, and I was offering my services to a few individuals for free with the hope that I’d be able to use those early clients as case studies.

Being present on your journey

While this sort of makes it sound like I had a plan in place, I really had no idea what I was doing.

Instead, I was blindly following a checklist of what others said I was supposed to do without actually being present on my journey.

In my mind, I didn’t know much about pitching myself; therefore, any time I presented an offer to a client, they would surely turn it down; therefore, I wasn’t getting any clients.

I was letting setbacks like clients declining my offers, or me taking 5x the amount of time I had estimated to accomplish something, put me into a negative tailspin.

My mindset was a negative one, and therefore my decisions – what I choosing to do when faced with these setbacks – was only pushing me further from my goals.

It wasn’t until after I made the choice to shut down Kate’s Copy that I finally started to realize how many invaluable lessons I had learned over the six months I was “in business”.

The power of believing you will make it work

It started to become clear to me that the reason I chose to shut down Kate’s Copy was because I never truly believed myself that I could make it work.

Every thought in my mind pointed towards things like:

  • All my time is going to things that don’t seem to be moving me forward;
  • I don’t know enough about my industry to make this work;
  • I’m not good at talking about my strengths, so I’m never going to be able to lock in a client;
  • If only I knew more about creating a website and SEO, then I could attract more leads.

As a result, the actions I was taking were right in line with what I was thinking: not knowing what to do and not being good enough to make it work.

The blame game and taking responsibility

When I would come up against a setback it was easy for me to blame my lack of progress – and the fact that I didn’t have a functioning business – on resources.

Looking back, I should have been taking responsibility for the thoughts in my own mind.

Looking back, I should have been more resourceful.

At the end of the day, my lack of progress or the fact that I didn’t have a functioning business had nothing to do with a lack of resources. It had everything to do with the thoughts in my own mind and not being resourceful.

Resourceful: having the ability to find quick and clever ways to overcome difficulties.

The question remains

So if our thoughts shape our actions, then the question still remains: what are some things we can do when we experience setbacks on our entrepreneurial journey?

First off, we can’t immediately let ourselves go into negative tailspin.

Setbacks and roadblocks are frustrating.

Given this truth, what we can choose to do when we encounter them?

This is going to seem like the simplest piece of advice ever, and that’s because it is – don’t overcomplicate solutions to problems: give yourself permission to express your emotions in whatever way is best for you, and then get back on track.

“Eighty percent of success is showing up.” ~ Woody Allen

Time is our most precious resource

We all claim that time is our most precious resource, yet we seem to be okay with wasting it on things out of our control.

The things that happen in our lives aren’t going to un-happen, so wouldn’t it be much more positive and productive to spend five minutes venting our frustrations, and then FOCUS on what matters most to us (achieving whatever it is we’re working on)?

Or, we could decide to spend hours – even days – allowing our emotions to choose for us.

I know which direction I’m going to choose, and I can tell you that since making a conscious decision to choose my direction and take full responsibility for that, I’m become happier, more productive, more resourceful and more resilient.

Practice, practice, practice

As with anything in life, becoming good at something takes practice.

Reading this post isn’t going to suddenly help you handle setbacks with ease and confidence.

But I hope that it will set the wheels in motion – that it will help you make a conscious choice about how you react to setbacks, and the actions you take next as a result.

Because only then can you begin to practice becoming better at it.

Maybe your next setback will take you 20 minutes to get over.

The next, 15 minutes.

The next, 10 minutes.

The next, 5 minutes.

Who can you turn to for support?

Where can you go to find a solution to the setback you’ve just encountered?

Be resourceful.

We need to practice resiliency as entrepreneurs, because the truth is: we will face setbacks on our journey.

Those who continue their journey are the ones willing to improve how to they choose to react and the actions they’ll take next.

Those who continue are the ones willing to be resourceful.

Stop standing in your own way

 

On your journey, you must stop and recognize when YOU are standing in your own way, because it turns out a majority of the setbacks we face and roadblocks we encounter are ones we’re creating ourselves.

Stop letting yourself be the reason you’re not creating the business you want.

“I attribute my success to this: I never gave or took any excuse.” ~ Florence Nightingale

Up next in Season 4 on What it means to be an entrepreneur

Up next, we’re going to be talking about a new understanding of patience (because growing a business takes time)!

You can visit our home base right here to find all the posts and episodes in Season 4!

The post S4E8: The setbacks we face as entrepreneurs appeared first on EOFire Business Podcasts.

       

 

 

from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2hoocu5

Latest EOFire Podcast S4E7: Redefining and celebrating success as an entrepreneur

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

redefining and celebrating success

It’s a familiar feeling for entrepreneurs: you know, the one you get when something goes wrong, something fails, or something doesn’t turn out the way you had hoped.

You get to feeling pretty down about yourself, your business, and your progress.

The frustration starts to rise, that little voice inside your head begins throwing around negative talk about your abilities, and finally, you become oh-so-close to giving into the imposter syndrome, which right about now is telling you that you aren’t capable.

Not to mention the added grossness of comparing yourselves to others, or actually letting others’ criticisms get you down.

“There is only one way to avoid criticism: Do nothing, say nothing, and be nothing.” ~ Aristotle

We all know what that’s like

What I’ve just described is not foreign to you.

What I’ve just described is how every single one of us as entrepreneurs have at one time or another let frustrations and negativity take away from our journey.

This post is not about riding yourself completely of everything described above.

Of course we’re going to feel frustrated and hear that little voice every now and then.

But how we react is up to us. How we choose to continue our day is up to us.

This post is about flipping the script and realizing that once you know what your definition of success is – and you actually give yourself permission to celebrate the wins you have along your journey – it’ll be much easier to move past and overcome the tough times.

Why defining success is important

In 2011 I lost a promotion that I wanted really bad.

It wasn’t just the new title, the new office – with a door, which I’d never had before – or the pay raise. It was also me proving to myself and others around me that I was capable of being so much more than just an admin.

At the time, that was my definition of success. My definition of success was a title, an office, more money, and being able to prove to myself and others that I was capable.

Today, my definition of success is MUCH different.

Today, my definition of success has nothing to do with a title, an office, more money, or being able to prove anything to anyone.

Today, my definition of success is being able to choose how I spend my time, and with whom I spend it.

Sounds pretty simple, right?

Well, not exactly.

Unfortunately, there are way more people in this world who have the same definition of success that I had back in 2011 than there are who have the same definition of success that I have today.

What’s even worse is people don’t even know why that’s their definition. They simply borrowed it from the people they surround themselves with.

They don’t know any better.

And I know this because that’s exactly why it was my definition of success back in 2011.

Success is different for everyone

Reflecting on all of this has taught me that success truly is different for everyone.

Understand and accept this, and you will open up a whole new world for yourself.

I’m not here to tell you what your definition should be, but rather to show you how important it is to know what it is.

What does success mean for you, your business, your family, and your future?

Because once you define what success means for you as an individual, you have a true north star – a set of values, and a clearly defined reason to celebrate the many wins you’ll experience as an entrepreneur (versus focusing or dwelling on the times when something goes wrong, something fails, or something doesn’t turn out the way you had hoped.)

It’s a rollercoaster

Regardless of your definition of success, there will be days when you feel you can conquer the world!

You’ll be high, up on top of a mountain waving your flag of success.

But not every day will be like that, which is why it’s so key to know what success means for you, and better yet, to actually celebrate it when it happens.

Recognizing when we’ve made progress, congratulating ourselves on figuring something out that we’ve been struggling with for weeks, and taking time to be excited about what it is we’re creating is going to help you tip the scale.

What if you spent more time celebrating your successes than you did dwelling on your missteps?

What if you focused more on the progress you’re making every single day – even if it’s tiny – rather than beating yourself up for not accomplishing something that was probably unrealistic and unattainable in the first place?

Don’t you think you’d enjoy your journey more?

That the positive momentum you’re building for yourself will start to overflow into other areas of your life?

I think so.

Success happens every single day to those who know what it means for them and are willing to commit to obtaining it. Yet more often than not, we don’t even pay attention to it.

Instead, we pay attention to the negative things.

When frustration starts to rise, and that little voice inside your head begins throwing around negative talk about your abilities, the one thing that will help you flip the script and move past and overcome the tough times is you wanting success more.

When you commit to your success, you can achieve it.

Jodi Flynn writes in her book Accomplished:

“Commitment is a game-changer. It’s not sexy and a lot of people don’t like to talk about it, but that’s the reason why many of us are living a shadow of the life we want to be living. It’s because we haven’t fully committed to it.”

What if you fully committed to not only redefining what success means for you today, but also committed to taking actions every single day that will help you achieve and live in that definition of success?

Wouldn’t you enjoy your journey so much more?

Up next in Season 4 on What it means to be an entrepreneur

Up next, we’re going to be talking about the roadblocks we face as entrepreneurs.

You can visit our home base right here to find all the posts and episodes in Season 4!

The post S4E7: Redefining and celebrating success as an entrepreneur appeared first on EOFire Business Podcasts.

       

 

 

from EntrepreneurOnFire.com | Inspiring interviews w/ today’s most successful Entrepreneurs http://ift.tt/2gYQqha

Latest EOFire Podcast EOFire’s November 2016 Income Report

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

November 2016 Income At-A-Glance

Gross Income for November: $205,459

Total Expenses for November: $61,589

Total Net Profit for November: $143,870

Difference b/t November & October: +$47,711

eofire income report button

Why We Publish An Income Report

This monthly income report is created for you, Fire Nation!

By documenting the struggles we encounter and the successes we celebrate as entrepreneurs every single month, we’re able to provide you with support – and a single resource – where we share what’s working, what’s not, and what’s possible.

There’s a lot of hard work that goes into learning and growing as an entrepreneur, especially when you’re just starting out. The most important part of the equation is that you’re able to pass on what you learn to others through teaching, which is what we aim to do here at EOFire.

Let’s IGNITE!

CPA On Fire’s Monthly Tax Tip

What’s up Fire Nation, my name is Josh Bauerle. I’m a CPA and the Founder of CPA On Fire, where we specialize in working with entrepreneurs to minimize their tax liability while keeping them in line with the ever-changing tax laws.

I’ve been working with EOFire for years now, and John and Kate have included me in these monthly income reports with unlimited access to all their accounts so I can verify that what they report here is complete and accurate.

And because they believe in delivering an insane amount of value to you, my job doesn’t stop at the verification level; I’ll also be providing tax and accounting tips to you along the way!

Josh’s November Tax Tip: What is a tax write-off exactly?

In each month’s income report, I share a tax tip – usually involving writing off various items on your taxes.

But after getting a ton of questions on the subject – and seeing even more bad information out there – I finally realized we need to spend time discussing what a tax “write-off” or “deduction” actually is!

Let’s start with an example:

You followed last month’s income report tip and turned a trip to an NBA basketball game into a legit “meals and entertainment” expense by bringing your attorney along to discuss business info.

Altogether, with your meals and game tickets, you spent $500.

You run it by your CPA and they confirm this is a legit business expense – that you’ll receive the meals and entertainment rate of 50% as a tax deduction (or $250).

But what does that $250 deduction actually mean?

Does it mean you pay $250 less in taxes?

Sadly, and contrary to what many believe, the answer is no.

What it does do is reduce your taxable income by $250. Meaning, if your taxable income was $10,000, after the deduction it is now $9,750.

So how much actual money does a tax deduction or write off save you?

The answer, as with everything else in taxes, is: it depends.

But the simplest way to estimate your true savings is to take your marginal tax rate (this is the rate your next dollar is taxed at) and multiply that by the deduction.

So if you’re currently in the 25% tax bracket, and you get that $250 tax deduction, the actual amount you save on taxes is about $63.

All this isn’t to minimize the power of tax deductions, because they are still an awesome perk of owning a business!

But it should reveal one big mistake I see a lot of entrepreneurs make: justifying purchases they don’t truly need because they can take it as a tax deduction.

I get clients all the time asking if they should buy a brand new truck, or computer, or whatever else they want – but don’t need – so they can get a tax deduction. And unless you like spending a lot of money in order to save a little money, the answer is definitely: don’t do it!

You should never, under any circumstances, buy something for the sole purpose of a tax deduction.

Instead, think of a tax deduction like a sale on products or services you need, or were going to buy anyway.

Going back to our example from last month, if you were going to attend that NBA basketball game anyway, and you turn it into a business event you can write-off, then it’s basically like getting a 25% discount on the meal and tickets.

And on the other side of things, if you can start thinking of ways to turn personal expenses into business expenses, you can then apply that 25% savings to many of the things you purchase anyway.

A tax write-off is a powerful tool for entrepreneurs to use, but as with any other tool, you need to truly understand it before being able to use it effectively.

If you have a question you would like to see covered in a future income report, leave it in the comments section below, or reach out to me directly!

As always, please feel free to contact me if you’d like to discuss what would be best for YOUR business. I LOVE chatting with Fire Nation!

*Bonus* If you haven’t checked out our FREE course on business entities yet, you can get it here!

What Went Down In November

funnelonfirecpuFunnel On Fire

November was a big brainstorming month for us: we not only started to put together some major marketing pieces for The Mastery Journal (more on that in just a minute), but we also sat down to reflect on some discoveries we’ve made.

As it relates to Funnel On Fire, our discovery was that our affiliate income from Click Funnels has been amazing over the past several months.

So with that discovery, John and I sat down to think about ways we could “double down”.

Here’s what that looked like, and how we came up with the idea to create Funnel On Fire: How to create a funnel that converts!

The thought process

Wow – we’ve been getting a lot of affiliate revenue from Click Funnels recently; I wonder why / where it’s coming from?

Well, we did transfer our Free Course delivery over to CF, and on every one of our delivery pages (Free Course videos) there’s a CF logo that is our affiliate link.

Conclusion: presumably, people are signing up for our Free Course, loving the pages we use to deliver the course (example here: eofire.com/fpc4), seeing at the bottom right it’s from CF, clicking that link, and then signing up for CF = affiliate revenue for us.

The brainstorming begins

What if we not only created another Free Course with more pages (equals more exposure for our CF affiliate), but we actually built that Free Course around something we know our audience wants and needs and that is directly related to CF?

Questions we get all the time:

  • how do I grow my email list?
  • how do I know what lead magnet to create?
  • how do I build a funnel?

These are all related to needing a platform like CF.

The idea: Create a Free Course called Funnel on Fire

Well, we’ve done Free Courses before, so we know we need:

  • opt in page
  • thank you page
  • course outline
  • campaign in IFS with all the emails / videos
  • video pages for each “lesson”
  • an offer / goal for the funnel
  • testing

With a timeline in place, this essentially becomes our plan.

Step 1: create course outline (John and Kate brainstorm for 30 minutes in Kate’s office and come up with the outline)

Step 2: create the content around the outline (Kate writes content for each video lesson – there are 8 total from our outline)

Step 2.1: what’s the offer? (what do we want them to do throughout / after taking the free course – work that into the content / CTA for the Free Course)

Step 3: create keynote presentations for the videos (Kate takes the content she created and puts it into a keynote template)

Step 4: once keynotes are complete, record videos (Kate records videos for each lesson with the Keynotes she created)

Step 4.1: upload videos to Vimeo

Step 5: put campaign together in IFS (emails, timers, opt in form, ty page)

Step 6: create pages in CF (opt in, ty page, video pages – grab embed codes from Vimeo for video pages)

Step 7: connect campaign and CF pages – start testing

Step 8: start promoting (list of promotable places – John mentions on EOFire, we add to our website, we include in our income report)

So, there you have it: an idea plus our brainstorming and creation process from start to finish!

Are YOU ready to learn how to create a funnel that converts? If so, join us in Funnel On Fire to learn how!

Viva Puerto Rico!

During the month of November we had the pleasure of hosting two amazing groups of people here at EOFire HQ:

1. Our friends Ryan & Katie from San Diego + John’s best friend, Ryan

2. John’s parents and niece, KC!

While the first group of visitors made for a nice adventure / mastermind combo, the second group brought a lot of beach exploring and relaxation here in Palmas Del Mar.

Trekking to the top of El Yunque in the pouring rain:

hiking el yunque

Hanging out at the EOFire HQ for some pool and BBQ time:

mastermind in PR

Taking a drive along Ruta Panoramica (known as “the Spine”):

the-spine-trip

It’s always great having visitors, but of course, it requires a significant amount of planning and preparation – something we’re getting quite good at 🙂

Before each set of visitors arrived, John and I each sat down and created a list of things we’d have to take care of ahead of time so that our time with friends and family wasn’t totally overrun by work.

Now, this is not to say we didn’t work while company was here, but the amount of time we worked was drastically reduced due to our preparation and planning.

Kate’s Take Season 4

November brought the beginning of the final season of Kate’s Take for 2016 on What it means to be an entrepreneur.

After deciding to switch to Seasons on the podcast at the beginning of 2016, I’ve felt so much more connected to the Kate’s Take listeners because they have actively been participants in the content itself. Each Season on the podcast has been a direct result of votes from listeners.

I was a little nervous about Season 4 since it broke the mold in terms of providing actionable, step-by-step content around business strategies. But since its launch, where we’ve been covering topics like Mindset and facing fear, How being an entrepreneur creates freedom, and Taking ownership, I’ve been receiving some incredible feedback!

If you want to find out more about this Season on Kate’s Take head over to our home base!

Marketing The Mastery Journal

January 2017 is fast-approaching, which means November was high time to kick things off for our marketing for the launch of The Mastery Journal.

This month alone we’ve:

  • Started documenting our project plan as a whole
  • Created a team and individual tasks in Asana
  • Finished 3 photo shoots for The Mastery Journal images (editing starts in Dec)
  • Finalized the trailer for The Mastery Journal
  • Ordered 30,000 copies to be printed
  • Created our behind-the-scenes email campaign to share where we’re at
  • Started our outreach / asking for support
  • Hired our FB ads manager

Whew!

We’ve still got a ways to go in terms of marketing, but with the above checklist we’re well on our way to making sure our marketing campaign is on lock down for our January launch!

Here’s a sneak peek behind-the-scenes are our most recent photo shoot:

The Mastery Journal

If you haven’t signed up for our interest list yet, click here! When you sign up you’ll receive a free 30-day PDF form of The Mastery Journal along with behind-the-scenes updates on our progress!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

November 2016 Income Breakdown*

Product/Service Income: $157,810

The Freedom Journal: Accomplish your #1 goal in 100 days!

  • Shopify: $23,363 (516 Freedom Journals & 66 Digital Packs sold!)
  • Amazon: $12,597 (323 Freedom Journals sold!)
  • Total: $35,960

Podcasters’ Paradise: The #1 Podcasting community in the world!

  • Recurring: $11,740 (170 monthly)
  • New members: $11,325 (36 new members)
  • Total: $23,065

Podcast Sponsorship Income$71,250

Speaking Fee: $20,000

Podcast Websites: $5,000 Your all-in-one podcast website peace of mind

Free Podcast Course: A free 15-day course on Podcasting

Free Webinar Course: A free 10-day course on Webinars

Free Goals Course: A free 8-day course on Setting & Accomplishing Goals

Funnel On Fire: A free 8-day course on Creating a Funnel that Converts!

WebinarOnFire: $1,991 Learn how to Create & Present Webinars that Convert!

SkillsOnFire: $297

The Fire Path Course: $115 A step-by-step business roadmap

Podcast LaunchAudiobook$104 | eBook: $28

Affiliate Income: $47,649

*Affiliate links below

Resources for Entrepreneurs: $32,264

Courses for Entrepreneurs: $12,518

Resources for Podcasters: $1,381

Other Resources: $1,486

  • Amazon Associates: $989
  • Other: $497

Total Gross Income in November: $205,459

Business Expenses: $58,448

  • Advertising: $1,375
  • Affiliate Commissions (Paradise): $1,706
  • Accounting: $350
  • Cost of goods sold: $4,966
  • Design & Branding: $2,018
  • Education: $108
  • Legal & Professional: $772
  • Meals & Entertainment: $1,133
  • Merchant / bank fees: $1,513
  • Amazon fees: $3,134
  • Shopify fees: $3,214
  • Stripe fees: $7
  • PayPal fees: $485
  • Office expenses: $1,348
  • Payroll Taxes: $1,839
  • Promotional / events: $125
  • Paradise Refunds: $2,460
  • WebinarOnFire Refunds: $0 (invoice total)
  • Shipwire: $6,000
  • Sponsorships: $16,500
  • Show notes: $372
  • Total Launch Package Fees: $175
  • Travel: $3,776
  • The Freedom Journal: $86
  • The Mastery Journal: $387
  • Virtual Assistant Fees: $2,590
  • Website Fees: $2,009

Recurring, Subscription-based Expenses: $3,141

  • Adobe Creative Cloud: $100
  • Avangate: $34
  • Boomerang: $80 (team package)
  • Brandisty: $24
  • Authorize.net: $91.10
  • Cell Phone: $210
  • CCBill: $20
  • Google Storage: $9.99
  • Go2MyPC: $12
  • Graphly: $99
  • Internet: $332
  • eVoice: $9.95
  • Infusionsoft CRM: $360
  • Insurance: $551
  • Libsyn: $338
  • Chatroll: $150
  • PureChat: $20
  • ScheduleOnce: $9
  • Skype: $2.99
  • Shopify: $20
  • Scout: $10
  • TaxJar: $19
  • Payroll fee: $223 (switched to ADP)
  • Workflowy: $4.99
  • MeetEdgar: $49
  • Wistia: $25
  • WPCurve: $29
  • Zapier: $15
  • Zencastr: $216 (annual fee)
  • Taxes & Licenses: $77

Total Expenses in November: $61,589

Payroll to John, Kate & PR Team: $23,880

In our May 2014 Income Report and our June 2016 Income Report, Josh focuses on how to pay yourself as an entrepreneur. Check them out!

Total Net Profit for November 2016: $143,870

Biggest Lesson Learned

The importance of asking yourself for answers

It’s often the case when we get ready to do something big in our business – start a new project, or set a new goal – we immediately think about who we can turn to for guidance or help. We all know the saying about “taking the lead from those who have gone before us”.

This is definitely a wise saying – one that we live by ourselves here at EOFire.

But only to a certain extent… because you can’t rely on others for everything.

Here’s what I mean by that:

In November I realized through a few conversations with peers that more often than not YOU are the one with the answers when it comes to your next most important step.

Trouble is, we rarely give ourselves the time to take a step back and reflect on the things we already have experience doing – things that we already know.

So next time you start working on a new project, or you think about setting your next big goal, before you run out and look to someone else for the answers, ask YOURSELF for the answers first.

Here’s a list of questions I ask myself when I’m brainstorming a project or my next big goal:

  • Have I done something like this before?
  • If so, what project was it?
  • What was the same? (that way I can pull from that experience)
  • What was different? (that way I know what I need to research)
  • What are the steps I have to take to get the big project done?
  • What’s my estimated timeline?

After answering questions like these about your project or goal you’ll be able to evaluate where you’re at in terms of what you already know (what you can pull from previous experiences) and what you don’t know (things you’re basically starting from scratch with).

This list of experiences – what you already know – along with the things you need to research, will then become the start of your project plan.

Asking yourself for the answers before running out and looking to someone else for them will help you get the foundation of your project set. And with a foundation, everything that follows will be much easier to accomplish.

Alright Fire Nation, that’s a wrap!EntrepreneurOnFire

Until next month, keep your FIRE burning!

~ Kate & John

Note: we report our income figures as accurately as possible, but in using reports from a combo of Infusionsoft & Xero to track our product and total income / expenses, they suggest the possibility of a 3 – 5% margin of error. 

Click here for all of EOFire’s Income Reports

This post was written by Kate Erickson, Content Creator and Implementer at EOFire. Follow Kate on Social:

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Latest EOFire Podcast S4E6: Mindset struggles and facing fear as an entrepreneur

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

Mindset Struggles and facing fear

Marianne Williamson once said, “Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us.”

It’s pretty crazy to think our mind has this much power over us – that if our mind tells us we should be hesitant about stepping into the light and embracing what it means to us, as individuals, to be successful, we actually listen.

She continues to say, “We ask ourselves, ‘Who am I to be brilliant, gorgeous, talented, fabulous?’ Actually, who are you not to be? … Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you. We are all meant to shine… It’s not just in some of us; it’s in everyone.”

But being confident; stepping into the light; making decisions – both big and small – that will not only affect us, but also those around us; and having the courage to stand up to the fears we feel on a daily basis as entrepreneurs is not easy.

If it were easy, everyone would be confident, courageous and successful.

The victim role and limiting beliefs 

In December 2013 I attended a 3-day basic training course.

I had been on the EOFire team for eight months.

I attended the course because I was told it would help me uncover my passions and break through my limiting beliefs – that it would help me start living the exact life I wanted to live without apologies.

I wasn’t really sure what limiting beliefs were, or how (and to what degree) they may have been affecting my ability to step into my light, but what I did know is that when asked by a friend what I was most passionate about just days earlier, I had a hard time answering.

I didn’t know what I was passionate about – I actually found myself questioning if I was passionate about anything.

That’s not how I wanted to live my life, so with shaking hands and sweat gathering around my hair line, I took action and signed up for the training.

Those 3 days changed my life.

My two biggest takeaways from basic were that:

  • I was living my life as a victim; and
  • We get back what we put out into the world.

Marianne Williamson ends the quote I started this post with by saying, “And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.”

Walking through life invisible

In February 2014 I attended another 3-day training – this time the advanced training.

Since basic, I’d been working on realizing and acknowledging when I was playing the victim role. Now that I knew what it was and why I was doing it, I could start to shift my energy and mindset – my attitude around responsibility and what I was putting out into the world.

I was feeling really great, and I could tell by just acknowledging it and stepping out of that role when I felt myself slipping into it that other positive things were happening as a result.

I no longer allowed my mind to trick me, nor did I accepted phrases from myself like:

“But it wasn’t my fault”, or “That happened because of circumstance out of my control”, or “I don’t know the answer” or, “This happened to me, and I’m sad / mad about it – it ruined my day.”

Instead, I took ownership and responsibility for my actions and the outcomes those actions created. I stopped blaming others for how I was feeling, what I was (or wasn’t) doing, and for how I felt throughout – and at the end – of every day.

Then, during my advanced training, I had my break through.

During advanced, I discovered something about myself that went far deeper than playing the victim role.

I discovered that I was walking through life invisible.

I discovered this when I found myself alone in the middle of a dark room, sinking. No life preserver – just one hundred people standing around me and not one of them holding out a hand to help.

Letting your light shine

I can’t possibly describe the feeling I had sitting alone in the middle of that room.

Knowing what I know now, what I can describe are all the reasons why I found myself there:

  • I was afraid of being wrong
  • I was afraid of looking stupid
  • I was afraid of others judging me
  • I was afraid that I wasn’t good enough / smart enough / strong enough
  • I was afraid to make big decisions where I didn’t know the outcome
  • I was afraid of feeling uncomfortable
  • I was afraid of being in charge / taking responsibility
  • I was afraid of coming across as a know-it-all

That is a lot of fear to discover all at once.

That is a lot of fear for anyone to hold on their shoulders.

I know from experience that type of fear will kill your light and keep you feeling trapped in the dark.

I know from experience that type of fear will make you invisible.

Mindset and embracing fear

You’ve probably heard a lot of the same things I’ve mentioned here in this post in your own mind and experienced limiting beliefs, fear and the imposter syndrome many more times than you can count. I know I’m not alone in sharing these fears with you.

The feeling that comes up every time we’re about to do something big – important – life-changing – new…

The feeling that comes to us when the risk is high, and we don’t know the outcome – we’re feeling uncomfortable, and we’re not sure what other people are going to say about the decision we’re about to make.

And all the while, we wonder if it’ll ever be possible to believe anything else but that we aren’t good enough, smart enough, experienced enough, passionate enough – anything enough – when we continue to feel as though we’re in a constant battle with our mind over fear.

The answer is so simplistic and straight forward, and it’s within all of us.

Just as is the case with freedom, YOU get to choose.

You get to choose

Tony Robbins says, “Our beliefs are like unquestioned commands, telling us how things are, what’s possible and impossible and what we can and cannot do. They shape every action, every thought and every feeling that we experience. As a result, changing our belief systems is central to making any real and lasting change in our lives.”

Change your belief system, and you will change your life.

For some, this means practicing affirmations. Hal Elrod is a huge fan of this, and one he’s shared with me before is this:

“I am just as worthy, deserving and capable of achieving extraordinary success as any other person on the planet, and I will prove that today with my actions.”

When asked on EOFire Episode 1473 what the best advice he’s ever received is, Andy Andrews said: “You have been created with a will that is stronger than your emotions. No matter how you feel you can choose how you act.”

Grant Cardone writes in his book The 10x Rule: “Fear, for the most part, is provoked by emotions, not rational thinking. And in my humble estimation, emotions are wildly overrated – and the scapegoat many people use for their failure to act… it must become your indicator to go.”

Amanda Holmes shared the best piece of advice she’s ever received on EOFire Episode 1475When you live in honesty and truth there’s nothing to fear.”

The things you think about turn into what you talk about.

What you talk about turns into what you do.

What you do turns into what you are.

You will continue to feel fear on your journey, and mindset struggles, while they can and will become easier to experience, will always be there. Stop trying to get rid of fear, and instead, embrace it.

Embrace that you’re on a journey that most people never even start. You’ve already embraced a HUGE fear on your journey: taking your entrepreneurial leap.

Continue to embrace fear knowing that fear let’s us know we’re on the right path – that we’re continuing to work towards things that matter to us – things that are bringing us one step closer to freedom.

3 Ways to Embrace Fear

Up next in Season 4 on What it means to be an entrepreneur

We all know that entrepreneurship isn’t easy.

If you’re looking for something easy, just go ahead and continue doing whatever makes you feel most comfortable.

Up next, we’re going to be talking about redefining and celebrating success as an entrepreneur.

You can visit our home base right here to find all the posts and episodes in Season 4!

The post S4E6: Mindset struggles and facing fear as an entrepreneur appeared first on EOFire Business Podcasts.

       

 

 

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Latest EOFire Podcast S4E5: The importance of productivity, discipline and focus on your entrepreneurial journey

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

Productivity, Discipline and Focus

Grant Cardone writes in his book, The 10x Rule: “I challenge you to keep track of how you’re spending your available time… Most people have no clue what they are doing with their time but still complain that they don’t have enough.”

Sound familiar? – the part about not really knowing what you’re doing with your time, but still complaining that you don’t have enough?

I know it does to me, and that’s why over the past 5+ years I’ve continued to study, practice, improve and do my best to share with others how to become more productive, disciplined and focused.

I know productivity, discipline and focus may not be your top traits – they aren’t mine, either.

But that doesn’t mean we can’t develop, or better yet, master these traits with a little help.

I can assure you it’ll be worth it, because productivity, discipline and focus will become your guiding light in regards to accomplishing the goals you set for yourself and for your business.

And THAT is why they are so important on your entrepreneurial journey.

What being productive, disciplined and focused means

So let’s do this: I’ll share a brief description of exactly what being productive, disciplined and focused means so we’re all on the same page, and with that description I’ll also share one step you can take TODAY to start mastering each of these traits on your entrepreneurial journey.

Being Productive

Being productive: Accomplishing tasks that MATTER to you and your business.

Accomplishing tasks that MATTER to you and your business is easier said than done – am I right?

But what if you could end every single day by looking back at the work you’ve accomplished and thinking to yourself:

Wow, I’ve been super productive today!

If you often end your day this way, then kudos! But you’re in the minority…

Being productive is something everyone wants, but people rarely work hard enough to achieve it consistently.

This reminds me of a Stephen King quote: “Amateurs sit and wait for inspiration, the rest of us just get up and go to work.”

Are you spending your days waiting for inspiration to strike?

How often do you honestly feel productive?

If it’s not as often as you’d like, then you’re in for a treat. Increasing productivity can help you get to where you want to go faster.

Here’s a quick tip on how to begin mastering productivity

Each night before you end your work day, write down the ONE task or project you must complete the next day.

When you plan ahead in this way, you’ll be crushing your top priority not just some days, but every day!

Mastery of productivity is at your fingertips. Will you take on the challenge?

Being Disciplined

Being discipline: Setting and sticking to a plan of ACTION.

Setting and sticking to a plan of action is TOUGH.

Distractions are EVERYWHERE.

Not the first time you’ve heard that line before, right?

It’s time to stop using that excuse.

It’s up to YOU to make the choice – to make the change – to make the commitment.

And the good news is, you don’t have to do it alone.

It doesn’t have to be this scary, unattainable hope or dream that you’re constantly doubting whether you can achieve.

As Samuel Butler said, “If we attend continually and promptly to the little that we can do, we shall ere long be surprised to find how little remains that we cannot do.”

Here’s a quick tip on how you can start mastering discipline

For your next task or project, instead of just diving in and “seeing what happens”, actually write out the steps you need to take in order to accomplish it.

Once you’ve written out the individual steps, put time deadlines on each of those steps.

Then FOCUS on those deadlines!

Speaking of FOCUS…

Being Focused

Being focused: Following ONE course until success and remaining distraction free in the process.

On average, how much “Focus Time” do you have on a daily basis?

Is it 20 minutes?

2 Hours?

NONE?

Focus Time is gold.

20 Minutes of FOCUS is worth 20 hours of distracted ‘busy work’.

Tim Ferriss wrote in his book The 4-Hour Workweek, “Focus on being productive instead of busy.”

I LOVE talking about focus because it has played a HUGE part in the success of EOFire.

Here’s a quick tip on how to start mastering focus in your every day

Use an online timer like e.ggtimer.com and give yourself specific time blocks when working on tasks.

During these time blocks make a promise to yourself that you will not let distractions push you off course.

If something comes up – an idea, something else you know you need to work on, or a notification pops up – write it down so you don’t forget about it, and then immediately get back on task.

As Peter Drucker says, “Until we can manage time, we can manage nothing else.”

The Mastery Journal

If you’re looking for a little help and guidance when it comes to mastering productivity, discipline and focus on a daily basis, then we know you’re going to love The Mastery Journal: Master productivity, discipline and focus in 100 days.

In January 2017 we’ll be launching The Mastery Journal via Kickstarter! To get a behind-the-scenes look at the creation and launch of The Mastery Journal, visit TheMasteryJournal.com and join us on the journey to Mastery!

Up next in Season 4 on What it means to be an entrepreneur

We all know that entrepreneurship isn’t easy.

If you’re looking for something easy, just go ahead and continue doing whatever makes you feel most comfortable.

Up next, we’re going to be talking about mindset struggles and facing fear as an entrepreneur.

You can visit our home base right here to find all the posts and episodes in Season 4!

The post S4E5: The importance of productivity, discipline and focus on your entrepreneurial journey appeared first on EOFire Business Podcasts.

       

 

 

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