The Riches Are in the Niches with John Lee Dumas

In this special episode, I sit down with John Lee Dumas, the founder and host of Entrepreneurs On Fire. John is a true pioneer in the podcasting space, having created the very first daily podcast for entrepreneurs. He’s also known for his radical transparency, publishing his financials every single month for years. Today, we’re diving into the power of niching down, becoming the number one solution to a real problem, and how AI is changing the game for podcasting and marketing, especially for entrepreneurs scaling their businesses.

Guest Introduction:

John Lee Dumas is the host of Entrepreneurs On Fire, an award-winning daily podcast with over 3,800 episodes and 150 million downloads. He’s had the privilege of interviewing top entrepreneurs like Tony Robbins, Barbara Corcoran, and Seth Godin. John is also the author of The Common Path to Uncommon Success, a practical guide to achieving financial freedom. Over the years, John has built a multi-million-dollar business, and he continues to inspire entrepreneurs to discover and own their niche. Recently, he launched a YouTube show called MicroStrategy Today, which dives deep into the influence of a single company on the Bitcoin space.

The Riches Are in the Niches - Key Takeaways:

The Power of Consistency:

John explains how his commitment to daily podcasting has helped him dominate the space and become the go-to resource for entrepreneurs. Consistency is key—by committing to daily content, you build trust, visibility, and authority faster than any other method. If you're looking to scale your business, consistency in your content and engagement is a powerful tool.

Niching Down is the Key to Success:

Success comes from narrowing your focus and becoming the best at solving a specific problem. Instead of targeting broad, saturated markets, focus on a micro-niche where competition is low, and your expertise can shine. John’s own journey with Entrepreneurs On Fire was an example of how being the first to do something with a focused niche can set you apart from the competition. For business owners, defining your niche and offering transformative solutions is crucial to attracting your ideal clients.

Engage Your Audience Early & Often:

One of the most important strategies John shares is engaging with your audience from the start. By asking questions like:

• “How did you find my show?”
• “What do you like about it?”
• “What don’t you like?”
• “What’s your biggest struggle right now?”

These questions help you refine your content and build products or services that directly meet your audience's needs. As an entrepreneur, this engagement can be the foundation for creating tailored offerings that resonate deeply with your clients.

Transparency Builds Trust:

John has published his financial reports every single month for over 12 years, allowing his audience to see the real, behind-the-scenes of entrepreneurship. His commitment to transparency helps him build credibility and trust, something all entrepreneurs can learn from.

AI is Changing the Podcasting Landscape:

John acknowledges the rapid rise of AI and advises entrepreneurs to stay adaptable. The people who try to stay stagnant and avoid change will be left behind. John himself is taking an AI course to ensure he stays ahead of the curve and continues learning as technology evolves. For those scaling their businesses, embracing AI and other emerging technologies will be essential in maintaining a competitive edge.

Key Quotes:

• “Become the number one solution to a real problem in this world.”
• “Cast a tiny net, maybe even just a hook, and dominate the niche.”
• “The people that are going to lose are the people that are trying to stay status quo.”
• “If you create something that solves a real problem, your audience is going to want it.”
• “You need to keep your finger on the pulse. Always be learning.”
• “The magic happens at eofire.com.”

Resources Mentioned:

• Entrepreneurs On Fire Podcast – John’s daily podcast with interviews from top entrepreneurs: https://www.eofire.com
• Follow John on Instagram: https://www.instagram.com/johnleedumas 
• Register for my upcoming free LIVE workshop: https://www.lindseya.com/workshop