“Back in 2012, I was trying to figure out: can I do this online internet thing?… Frankly, I thought you had to be slimy and scammy to make money online.”
— John Lee Dumas
To say that John Lee Dumas cracked the code when it comes to podcasting would be an understatement. His award-winning podcast and brand Entrepreneurs on Fire earns him a 7-figure income!
With numbers like that, it’s all the more crucial to stay on top of your finances.
Unfortunately, John says, this is something too few entrepreneurs put enough effort into.
“Entrepreneurs work SO hard. They’re such hard workers. And they’re working hard in the right areas, but they’re coming up short,” he says. “When you just don’t do the financial side of your business correctly, it’s almost like all of your work is… it’s not less meaningful, by any stretch, but it’s less profitable.”
The unhappy reality is that you can very easily earn high annual revenue… and still have an unprofitable business.
Many entrepreneurs shortchange themselves by thousands — or even tens of thousands — of dollars per year, through neglecting to recognize and fix the financial leaks draining their profitability.
Chapter 17 of John’s new book, The Common Path to Uncommon Success: A Roadmap to Financial Freedom and Fulfillment, spells out his powerful advice for other entrepreneurs:
Keep the money you make.
You have to love that!
Find your pre-order link for John’s book in the Links section below!
In this episode, you’ll discover:
- The #1 reason why entrepreneurs fail to achieve success — and how to fix it
- How John managed to cut down his work schedule to just a handful of days per month
- Why 10 common questions led John on the journey to a book launch
About John Lee Dumas
John Lee Dumas has interviewed over 3,000 incredible entrepreneurs on his award-winning Entrepreneurs On Fire podcast, including Tony Robbins, Gary Vaynerchuk, and Barbara Corcoran. He’s the author of The Common Path to Uncommon Success: A Roadmap to Financial Freedom and Fulfillment. His website offers courses and resources for entrepreneurs.
Highlights:
- 01:00 Meet John Lee Dumas
- 02:00 Sharing financial info
- 03:01 Finance skills
- 03:39 Do entrepreneurs pay enough attention?
- 04:39 More than revenue
- 05:30 Motivation & scheduling
- 08:09 Authorship journey
- 10:37 “Keep the money you make”
- 11:25 Book contributors
- 12:02 #1 reason for failure
- 13:14 Final words
- 14:52 Giveaway
Links:
John Lee Dumas / Entrepreneurs on Fire
The Common Path to Uncommon Success: A Roadmap to Financial Freedom and Fulfillment by John Lee Dumas
The 5-Step Roadmap to Biz Finance Freedom
https://melissa-houston-cpa-cga.mykajabi.com/5-step-roadmap-to-biz-finance-freedom
Work with me
https://www.melissahoustoncpa.com/work-with-me
Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.
