Income Report for July 2022: Affiliate Wins, and more!
Entrepreneurs on Fire
John Lee Dumas
4.8 • 4.1K Ratings
🗓️ 19 August 2022
⏱️ 28 minutes
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Summary
Every month we put together an income report to share a behind-the-scenes look at the ups and downs of running a 7-figure business. In full transparency, it's not easy – but it IS possible. Through hearing about our mistakes, lessons learned, and our wins, we hope to inspire and motivate you to take action in your business with just one step forward every single day. For our full income report, visit EOFire.com/income107, and IGNITE!
July 2022 Income At-A-Glance
Gross Income for July: $269,939
Total Expenses for July: $14,566
Total Net Profit for July: $255,373
Difference b/t July & June: +$94,071
% of net profit to overall gross revenue: 95%
Sponsors:
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Thrivetime Show: Is this your year? Visit ThrivetimeShow.com/eofire to see how Clay Clark's business coaching helps thousands of entrepreneurs to dramatically increase profitability.
Transcript
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| 0:00.0 | Boom! Shake the room, Fire Nation! JLD here and welcome to the Income Report for Entrepreneurs |
| 0:08.1 | on Fire. July 2022, we had a crushing month in a good way. Gross income, $270,000. We'll |
| 0:18.4 | get into all the details coming up later. We have a killer tax tip with Ron Mr. CP on |
| 0:24.9 | Fire himself about the Inflation Reduction Act. We're going to be talking about what |
| 0:29.4 | they consider when you're buying a business from our legal advisor, David Lizarbram. |
| 0:34.5 | And then we're going to be talking about how I coached a first time affiliate to the |
| 0:39.8 | number two result, second place, and the biggest launch of 2022. And so much more Fire Nation |
| 0:48.1 | when we get back from thinking our sponsors. Success story hosted by Scott D. Clary is |
| 0:54.5 | brought to you by the HubSpot Podcast Network and features Q&A sessions plus convo's on sales, |
| 0:59.9 | marketing, business, and more. A recent app on how to protect your business in times of |
| 1:04.7 | crisis is a must listen, listen to success story wherever you get your podcasts. |
| 1:12.2 | Alright Fire Nation, we are ready to kick off. And as I mentioned in the intro, our July |
| 1:17.2 | income was fantastic. We did $269,939. So just under 270K, our expenses were 14,566 for |
| 1:29.6 | a total net profit of $255,373. The difference between July and June was a plus $94,000, |
| 1:38.4 | so a big month. And our net profit overall gross revenue is a record 95%. We have never |
| 1:45.0 | been that high. We may never be that high again, but never say never Fire Nation as we continue |
| 1:50.4 | to work on that stuff. Now we have a lot of great things to talk about again, as I mentioned |
| 1:54.7 | in the intro, but I do want to start off with Ron, Mr. CPA on fire himself, his perspective |
| 2:00.1 | on the inflation reduction act. So Ron, take it away. |
| 2:04.0 | Hello, John and hello Fire Nation. Hey, this is Ron Parisi with CPA on fire for your July |
| 2:11.6 | 2022 tax and accounting tip. Always enjoy being with you, John. Always being always a pleasure |
| 2:20.2 | to be with Fire Nation. Love the energy. Love the questions that are always coming about |
... |
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