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Entrepreneurs on Fire

The Price You Pay to Get to 8 Figures in Business with Johnathan Price

Entrepreneurs on Fire

John Lee Dumas

Business, Careers, Entrepreneurship

4.84.1K Ratings

🗓️ 5 December 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

Johnathan Price created Down4soundshop.com. In five short years, JP turned the shop he started out of his parent's attic into a global brand making 20,000,000 a year. This is unheard of in car audio.

Top 3 Value Bombs:

1. It is important to take care of your health. Health is wealth. If you lose your health, you lose everything. So, you got to take care of yourself.

2. Getting a team change everything because you just start duplicating yourself and before you know it, you're freeing up more and more time, and have your non-negotiables like Thursday nights with your family.

3. You'll get pushed. Sometimes you need to get pushed to take action and if you get pushed off of a ledge, then you better start feeling building your airplane on the way down or you better start flapping your wings or whatever it may be so you won't crash and burn.

Subscribe to The Life of Price YouTube Channel - The Life of Price Channel

Sponsors:

Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!

HubSpot: Learn how HubSpot can help your business grow better at HubSpot.com.

Transcript

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0:00.0

Boom! Shake the room, Fire Nation! JLD here and welcome to Entrepreneurs on Fire. Brought to you by the HubSpot podcast network with great shows like Success Story Podcast.

0:12.0

Today we'll be breaking down the price you pay to get to eight figures in business. To drop these value bombs, I brought Jonathan Price in the EO Fire Studios.

0:21.0

Jonathan created down for SoundShop.com and in five short years, JP turned the shop he started out of his parents' attic into a global brand making $20 million a year. This is unheard of in car audio.

0:36.0

Today, Fire Nation will talk about growing your business from zero to 20 million of five years. What it means to start in your parents' attic, personal commitment to daily routines, investing in self-development, building a team, and so much more when we get back from thinking our sponsors.

0:52.0

The best podcast listening and discovery app in the world is here and it's called Pedopolo. Visit pedopolo.com. Download the app, mention John Lee Dumas, my pedopolo username. When you sign up for a free account and start listening now, that's p-o-d-o-p-o-l-o.com.

1:11.0

The Gold Digger Podcast hosted by Jenna Koocher is brought to you by the HubSpot Podcast Network, the audio destination for business professionals, tune in and discover your dream career with productivity tips, business hacks, and so much more.

1:23.0

Jenna's recent episode on four questions to qualify your digital products idea is a must listen. Listen to Gold Digger wherever you get your podcasts.

1:32.0

JPC what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with.

1:42.0

What's up Fire Nation? I appreciate you joining in with us on this podcast and showing me some love. Something that I believe that is different than a lot of other people believe that they have become financially successful is they usually take seven sources of income to become a million air.

2:00.0

But I believe when people do that, if they do it initially, it dilutes their efforts to several different things where you just become okay at seven different things.

2:12.0

But what if you took that if you went seven times harder in the thing that you are great at already and that's what I did.

2:20.0

So I think I'm different in that aspect.

2:23.0

Seven times harder in Fire Nation. We're talking about the price you pay to get to eight figures in business.

2:31.0

So you did grow your business from literally zero to $20 million in five years. Counter-Fire Nation five years. Tell us about that journey.

2:43.0

Everybody has their their startups and the hardships that they go through. My literally started out of my parents attic and Mrs. Cippy. I was a failure to launch episode.

2:55.0

I guess you can say because I was 30 years old and living with my parents. I was trying to figure things out and I thought staying with my parents.

3:04.0

I have a great relationship with my parents. So that's kind of a bonus. But I just thought if I stayed with them, my monthly bills would be very low.

3:14.0

And I could use that money to become something or use it to put towards something and that ended up being my business.

3:21.0

And when I first started it, I had gotten fired from my initial job that I was working at for ten years.

3:27.0

So that kind of pushed me over the ledge. They always talk about you you'll get pushed. Sometimes you need to get pushed to take action.

3:36.0

And if you get pushed off of a ledge, then you better start building your airplane on the way down or you better start flapping your wings, whatever it may be.

3:45.0

So you can not crash and burn. So that's what I did and started out small. My parents attic and it slowly grew from the attic to the shed in the backyard.

...

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