22: Work/Life Balance from the Passive Income Master John Lee Dumas
John Lee Dumas is the world famous host of the Entrepreneur on Fire Podcast where he has interviewed over two-thousand of the world’s most successful entrepreneurs, and turned that into a 7-figure net profit business. He talks to us today about what work/life balance looks like at the top of the income totem pole. When so many things come your way, how do you choose what to go with and how do you strike the right balance so that you can still enjoy your life even when your business becomes super successful.
My Guest: John Lee Dumas
John Lee Dumas has published over 2,000 interviews with incredible Entrepreneurs, including Tony Robbins, Seth Godin, Gary Vee, Barbara Corcoran, Tim Ferriss, and many more. He is the founder and host of Entrepreneur On Fire, an award-winning business podcast where he interviews inspiring entrepreneurs and delivers insights and strategies to help others start their own entrepreneurial journey and create the life they have always dreamed of.
After graduated from Providence College in 2002, John served as an active duty Army Officer for four years. He then tried Law School, Corporate Finance and Commercial Real Estate but felt trapped and uninspired. After creating his podcast, John finally left his corporate job at an advertising and marketing agency in 2013 to finally start creating the life he wanted to live. John lives with his better half, Kate, in their dream home in Puerto Rico. He also partners with Pencils of Promise, a non-profit organization that builds schools and increases educational opportunities in the developing world.
Pivotal Moments
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Not finding success in the typical corporate business world.
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Working in real estate in 2009 and beginning to listen to podcasts on his commute.
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The brainstorm of creating a daily podcast show about entrepreneurs.
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Taking on Jamie Master, host of The Eventual Millionaire, as a mentor to help him launch his show.
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Having the mission to create free, valuable and consistent content.
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Monetizing his audience with passive income courses and content.
The Advice
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You are the average of the top five people you spend your time with. Choose them carefully and constantly reshuffle to make sure you are hitting your best average.
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Take on a mentor who is currently in the space where you want to be.
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Map out a perfect day in your life and all the different things that might be in it. Measure your typical day against it. If you are not doing a lot of those activities on a regular basis, find ways to build them into your life, not necessarily using money but also using a free alternatives. For example, download free exercise classes instead of buying a gym membership. As your business grows, use your money (sometimes a significant amount) to pursue the activities you want to do.
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Create a mastermind group of people in a similar space and business level to you, and meet regularly.
The Struggle
When you are super successful there are so many opportunities coming at you that you would have jumped at a year or two ago, it’s so hard to know what to say yes to. How do you maintain the life that you worked so hard to obtain and choose the right things to let in?
The Breakthrough
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Resources and Links
- Find John Lee Dumas: www.eofire.com
- Find Your Big Idea: www.yourbigidea.io
- Find John on social media: LinkedIn
- Work with Estie: www.strandconsulting.net
- Join us on the Show: www.estierand.com/breakthrough
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About the author, Estie Rand
I love turning ideas into money, and helping others do the same. I help small business owners with everything from marketing to fiscal management, business plans to staffing, database architecture to work/life balance coaching and I love it all! What do you need help with today?