We Doubled Down On Our Podcast & Hit $2M/Year [EOFire Update]
This is a follow up story for Entrepreneurs on Fire. If you're interested in reading how they got started, published about 4 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
Heyo! John Lee Dumas, founder and host of the podcast Entrepreneurs On Fire!
My goal with the podcast and the business I’ve created together with my team of four is simple: inspire entrepreneurs to create the business and lifestyle they’ve always dreamed of.
Our flagship product is our online course and community, Podcasters’ Paradise, where we teach people how to create, grow, and monetize their own podcast. But podcast sponsorships are our biggest revenue generator, which bring in over $150k net per month.
Tell us about what you’ve been up to! Has the business been growing?
In 2018 we were at a crossroads in our business. We could either:
- Triple our workload and create more products, services, and add more projects to our plate to continue to grow the business; or,
- Double down on what was working best and cut everything else in order to enjoy our lifestyle freedom and location independence.
We chose the latter.
The last few years our team has focused on only those products, services, and projects that meet 3 criteria:
- We love doing it,
- It makes a big impact for our audience, and
- It generates revenue
Our main focus continues to be the growth and improvement of the podcast itself, since that is - and always has been - the core of our business.
In an effort to increase our listenership and team up with other incredible podcasters - and an incredible company! - we are brought to you by the HubSpot Podcast Network!
The HubSpot Podcast Network is full of business rockstars, and it has helped us reach new audiences thanks to advertisements about Entrepreneurs On Fire on the other podcasts.
The HubSpot Podcast Network also offers a number of other great programs and stellar support to help each of the podcasts within its network grow.
What have been your biggest lessons learned in the last year?
The last year has been a big one for us. Despite the pandemic, we’ve continued to grow our revenue and reach, which we’re incredibly grateful for.
Find a unique problem your ideal customer has and create a solution that is better than anything else out there. It sounds like simple advice, but it’s not easy. You have to truly commit to pushing yourself, to digging deeper, to putting in the reps.
Kate and I have both spoken on stage at conferences in the past year (Podcast Movement and Funnel Hacking Live), and it felt great to be back in a room with thousands of people who have the same love and dedication for online business.
And thanks to the systems and team we’ve created, we’ve been able to dedicate time and attention to several “first time” projects, like:
- Traditionally publishing a book, The Common Path to Uncommon Success, with HarperCollins Leadership
- Launching into the NFT space and being a part of minting some awesome projects
What’s in the plans for the upcoming year, and the next 5 years?
We like to keep things focused in the present, and we’ll continue to iterate on what’s working well for us right now:
- The podcast, Entrepreneurs On Fire
- Sponsorships and our ongoing relationships with brands and individuals
- Content marketing on our website and to our email list
- Podcasters’ Paradise
- Our Journal trio (The Freedom Journal, The Mastery Journal, The Podcast Journal)
We’re excited to continue improving our processes, our content, and the products and services we offer our audience.
Advice for other entrepreneurs who might be struggling to grow their business?
It’s an exciting time for online businesses and entrepreneurs. The barrier to entry is low to get started; however, my best piece of advice is this:
Find a unique problem your ideal customer has and create a solution that is better than anything else out there.
It sounds like simple advice, but it’s not easy. You have to truly commit to pushing yourself, to digging deeper, to putting in the reps.
If you’re struggling to grow your business, it’s because of one - or all - of these reasons:
- You’re not clear on who you’re serving
- You’re not clear about what their biggest struggle is
- You haven’t done enough research to know what the best solution to their struggle is
- You aren’t providing the BEST solution available
Where can we go to learn more?
- [email protected]
If you have any questions or comments, drop a comment below!
Entrepreneurs on Fire has provided an update on their business!
About 3 years ago, we followed up with Entrepreneurs on Fire to see how they've been doing since we published this article.
24 days ago, we followed up with Entrepreneurs on Fire to see how they've been doing since we published this article.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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