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In this candid episode of the Six Figure Author Experiment, Russell and Lee discuss navigating significant financial and business changes, the reality behind income and profit, and the crucial systems authors need to succeed long-term. Russell shares the ups and downs of his recent financial rollercoaster, the closure of Writer MBA, and how unexpected challenges ultimately led to growth and newfound financial stability. Lee highlights the importance of building sustainable systems, prioritizing newsletters and community engagement, and emphasizes the value of resilience, emotional regulation, and strategic pivoting.

Topics Covered:

* Managing drastic financial shifts and loss of major income streams

* Realities of revenue versus profit for authors

* The hidden cost of business growth and reinvestment

* Why some authors appear successful but struggle financially

* The importance of reducing friction in business growth

* Long-term strategies versus short-term gains in publishing

* The power and profitability of newsletters and automation

* Creating sustainable income through diverse revenue streams

* The emotional toll of closing down projects and businesses

* Pivoting effectively after setbacks

* Building financial and emotional resilience

* Introducing Russell’s new membership, "Capitalist," focusing on happiness and balanced success

* Lee's Book Marketing Bootcamp details and approach

* How to create systems that continuously support author income

* Understanding the true value of passive income and long-term asset creation

* Learning to embrace endings and creating space for new opportunities

* Strategic budgeting, saving, and financial preparedness for uncertainty

* Emotional intelligence in handling business disappointments and stress

* How mindset and expectations shape enjoyment and success