Should You Reveal Your Income? A Rebuttal from John Lee Dumas | Ep. #1016

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 13 May 2019

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1016, we hear John Lee Dumas’ rebuttal to our previous episode about why you shouldn’t reveal your income. Tune in to hear why he thinks income reports are vital! We have committed to throwing a FREE Marketing School Live Event in Los Angeles. Check out the details on this website if you would like to attend. Remember: we are capping the event at 500 people, so sign up now, if you’re interested! DM Eric if you would like to participate in the VIP dinner. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: John Lee Dumas’ Rebuttal on Why You Shouldn’t Reveal Your Income [01:20] I’m here to rebut the idea of not sharing your income. [02:00] I publish income reports because in 2011, I was trying to figure out my business plan. [02:25] I pored over income reports to get a sense of how someone else made real money. [02:45] In 2013, when I started making real revenue, I started publishing income reports to give people a guide map. [04:05] We are a small, lean profit-generating machine and these reports help us stay that way, because they give us insight into our own business. [04:30] Transparency is key. [05:15] I know our reports help others improve their businesses. [05:41] There are round-up posts were blogs and publishers point out the top income reports. [07:15] Eric and Neil are worried about people copying business ideas. I am not. [07:40] It can increase competition, but I welcome it. [07:55] They said you can open yourself up to litigation, but I have a good legal team, so I’m not worried. [09:15] That’s it for today! [09:23] Go check out John’s Podcast Entrepreneur on Fire. [09:31] Don’t forget to check out Single Grain for more info about our free live event in June. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school
0:14.5	with your instructors Neil Patel and Eric Sue.
0:19.4	All right guys before we start we got a special message from our sponsor.
0:27.0	If you want to rank higher on Google, you got to look at your page speed time.
0:31.5	The faster your website loads, the better off you are. With
0:34.4	Google's core vital update, that makes it super, super important to optimize your
0:38.5	site for low time. And one easy way to do it is use the host that Eric and I use dream
0:44.5	host so just go to dream host or Google it find it check it out and it's a great way
0:49.7	to improve your load time.
0:55.0	Welcome to another episode of Marketing School. I'm Eric Sue.
0:56.0	I'm Neil Patel.
0:57.0	And today we're going to do something that we've never done on this podcast before.
1:01.0	What is it going to be?
1:02.0	We're going to have John Lee Dumas do a rebuttal on why you
1:06.1	should reveal your income. Eric and I mentioned in a past episode why we don't think you should
1:10.9	reveal your income and I still believe you shouldn't and I don't know where
1:14.0	Eric sounds I'm still I'm still in the same vote but John believes you should and he's done this for a living
1:18.4	and that's how you know that's helped him build up his audience and his
1:24.4	income. He makes seven figures a year and John's about to take it away and show to all of you guys why you
1:29.1	should reveal your income or at least share his viewpoint on it.
	...

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