Pat Flynn Rocks at Smart Passive Income & You Can Too!!

by Brooke Ferguson on July 21, 2010

You ever see a cool new car -and all the sudden- you see it everywhere? That’s kind of how it is with Pat Flynn. I first came across him in an interview from John at JetSetCitizen.  After that, I saw him EVERYWHERE.  It makes you wonder… was the car there all along?  For the record, Pat has been there for quite awhile, and since I’ve realized how fantastic his information and business model is, I wanted to share it with you.  He’s got great blog tips, amazing downloads, and a fantastic newsletter (that doesn’t try to sell you anything!!).  Want to find out how he does it?  Read on!

Custom image

Can you tell us a bit about SmartPassiveIncome.com?

SmartPassiveIncome.com (or SPI for short), is a blog I started when I began to see my existing online businesses take off. On it, I discuss various online business and blogging strategies that I use and how they have either helped or didn’t help my businesses. I’m totally “tell it like is it” and transparent with everything I do, so as not to misguide anyone who may be searching for answers about how to do business online.

What’s unique about what I do online and what I teach is that they primarily revolve around generating a passive income, which means they are businesses that are almost entirely run on auto-pilot. This kind of business model frees up valuable time in my life that I can spend doing the things I love, like hanging out with my family. I’m not trading my time for money, rather I’m investing my time now so I can see continually returns in the future.


You have an impressive online presence and visibility, I feel like I see you everywhere.  Can you give the readers some tips on how you do this?

Sure! In fact, I just wrote a post about how I’ve expanded my brand, which gives people the illusion that I am indeed “everywhere”.

To sum it up, I’ve made sure that I just didn’t stick to writing on my blog, but ventured out onto other media platforms such as YouTube, Twitter and Facebook (to name a few), and I’ll also be hosting an upcoming podcast as well. This allows me to reach people who I may not have reached otherwise, while expanding my brand and image to those who already know about me.
In addition, the number one tip I can give you is to always provide fantastic content, no matter what media platform(s) you’re using. If you take a little bit of extra time to over-deliver, you’ll get noticed by people and things will start to happen from there. We can do all we want to promote our own sites, products and brand online, but what really makes a huge difference is promotion from other people (like raving fans), who have more influence upon people who you may have never reached before. It all starts with helping others, and it usually pays you back in one way or another.

Of all of the newsletters I’ve subscribed to, yours is my favorite.  How do you do it?

I appreciate that! I’ve actually heard that from a lot of people before, and I think it’s because I don’t use my newsletter as a way to earn more money. Again, you should always strive to provide excellent, over-the-top content, and that’s exactly what I give my subscribers. No hype, no sales pitches, no aggressive marketing tactics – just written content that I would want my friends to read. When I do recommend a product, it’s because it will help my subscribers (really!), not because it will help me earn an extra dollar or two.

I try to write my newsletter emails like I would write to my best friends trying to become successful online as well. I wouldn’t dare to be a weasel and try to make a buck off of them.


I’ve found your Income Reports very helpful.  A sizable amount comes from iPhone applications.  Please share a bit more about that.

A friend and I started an iPhone app business a little over a year ago, mainly as an experiment to see if it was possible to generate passive income from building apps for the iPhone and iPod touch. We heard of some amazing success stories at the time (people making $20k a DAY with some applications), so we just had to give it a shot.

I don’t understand programming language, and although my business partner does, we decided to outsource our applications because we knew we’d be able to get more done in a shorter period of time. Plus, the quality of applications would be much better than if we gave it a shot ourselves. So, we took some crazy ideas we had, found some developers, and have since built 18 applications that are now live in the app store.
No, we’re not making $20k a day, but we are generating a nice, virtually passive income from Apple because of the applications that we developed. In May of 2010, we hit record earnings for a single month, nearly breaking $10k in profits. We have more apps in the works as we speak, and we’ll see where it takes us.
If you’re interested in iPhone apps, I definitely recommend reading one of my more popular blog posts: 5 Things You Should Know About Creating Your Own iPhone Apps


One of your keys to success has been multiple income streams.  What tips do you have for the readers who want to grow this area in their business?

It’s important to realize that at any given moment, one income stream can suddenly disappear.

I realized this when I was laid off in 2008 from a 9 to 5 job that I really loved – in a career that I thought I was going to be a part of forever.
The same thing can happen online, which is why we should strive to diversify. I have about 15 to 18 different income streams that all work together to provide an income for myself and my family. If one or two of those go away, I’ll be fine and be able to keep my head above the water. If I only vested my time, effort and money into one particular income stream, then if for some reason it disappeared, I’d be screwed.
For example, let’s say all I did was iPhone apps. We’re generating a steady income now, but what if Apple decides to come out with a new product and apps become obsolete? Or, maybe Apple get’s bought out by another company and changes their whole business model? (Which is highly unlikely, but I think you get the idea).

This is why I like building passive income streams, because I can work on a project until it’s automated, and then move on to the next project – thus diversifying my passive income portfolio. It’s hard to diversify a 9 to 5 job, because there are only so many hours in the day.

How do you manage your time between sites, products, and building applications?

The trick is, at least for me, is to make sure I do one thing at a time.

Luckily, the passive income business model allows me to work on multiple projects at the same time – so for example while I’m waiting for iPhone apps to be completed by our outsourced development team, I can add content to an eBook I’m writing or create videos for YouTube. Also, many things that I earn an income from are on auto-pilot, which means they don’t require very much time from me, if any at all. Again, this is thanks to the passive income business model.

Final thoughts, inspiring words?

Sure – I have a few things that I always tell people who are interested in doing business online, or taking their existing businesses to the next level.

First, is that you should not be afraid of failure. Failure is good!, because it means you’re at least trying something out, and if it doesn’t work, you have that much more knowledge about what you should do next. I’ve learned from each and every one of my (many) failures. Looking back, I’m glad I failed because they’ve helped me get to this point in life.

Secondly, is that you should never try to be perfect. So many people spend hours, days, or even years trying to make their online businesses perfect. The problem is, they spend so much time trying to make things perfect that they miss out on everything that could have happened if they had just put something out there earlier! No one cares if you’re perfect – nobody is. Get something out there now, and worry about perfection later. Like I always say, “Everyday you don’t have something for sale online is a day of potential profits lost.”

Lastly, I’d just like to say that I am nobody special. I’m not an expert, and I never had any special training. So honestly, anyone can become successful online too, as long as they have the passion and drive to succeed.

If you don’t believe it can happen, it never will.

Be in touch with Pat!


Questions??  Comments??  Leave them below!!
You ever see a cool new car -and all the sudden- you see it everywhere? That’s kind of how it is with Pat Flynn. I first came across him in an interview from John at JetSetCitizen. After that, I saw him EVERYWHERE. It makes you wonder… was the car there all along, or am I just now starting to realize it? For the record, Pat has been there for quite awhile, and since I’ve realized how fantastic his information and business model is, I wanted to share it with you. He’s got great blog tips, amazing downloads, and a fantastic newsletter (that doesn’t try to sell you anything!!). Want to find out how he does it? Read on!
Like it Share it Tweet it +1 it or Comment Below :)

Tagged as: going global, money, Online business, Pat Flynn

  • http://www.itarsenal.com Rob

    Thanks Pat, always good to hear your latest thoughts…what stuck out to me this time was, “Do one thing at a time” and “Never try to be perfect. So many people spend hours, days, or even years trying to make their online businesses perfect….get something out there” …

    These two points seem like such simple easy advice, but executing on them is something far less easy and simple. These are what separate the people out there making it and just messing around…it’s not easy.

  • http://presentdaynomads.com Rasheed Hooda

    Awesome interview.

    I have been following Pat for a while, and yes, he seems to be everywhere, because everyone loves him. He gives value wherever he goes, that’s why he is so popular.

    Thanks for sharing your wisdom with us, Pat.

    Rasheed

  • http://www.businessbackpacker.com/services Brooke Ferguson

    Hi Rob, thanks for commenting. Yes, those are words to live by! I’m working on both of those right now… and trying to stay away from what I call the “perfection trap”. Thank you for sharing :)

    Rasheed – I couldn’t agree more. I think whenever people share value it comes back to them. Thanks for always sharing yours!!

  • http://www.smartpassiveincome.com Pat

    Brooke, than you once again for the opportunity to share a little bit of what I do and how I work with your audience. Your site is beautiful and keep up the great work! We’ll definitely keep in touch!

  • http://www.nunomad.com/blog Carmen

    Thanks for the interview, Brooke and Pat. Great advice – especially about diversifying. I am always in awe of people who can juggle so many balls at once.

  • http://actionheroheadquarters.com/ Brian

    Brooke,

    Thank you for the interview of Pat. I’m currently trying to set up several passive income streams for myself, and it’s always good to see someone who’s done it before. Do you ever find the Universe has a funny way of giving you information when you need it? Thanks for the timing.

  • Trever Clark

    I hadn’t actually heard of Pat before, but I think I’m going to go and sign up for his newsletter right now. Sounds like he has some great ideas. In the past year I’ve gotten pretty heavily into the whole online marketing hustle, and sometimes I forget to “Do one thing at a time.” I tend to be a bit of a workaholic, and it’s good to see someone who’s very successful that also has time for family and other commitments.

  • http://www.businessbackpacker.com/services Brooke Ferguson

    Pat – Thanks so much for doing this interview, I really appreciate your insights and time!

    Caarmen – Taking a lesson in juggling, myself! I’m glad you enjoyed the post, thanks for commenting.

    Brian – I love it when I hear that the timing was right. I’m happy to help and yes, the Universe has an uncanny way of keeping me humored!

    Trever – Glad to introduce you then. It is great stuff, I’m sure you’ll enjoy the newsletter as much as I have. Cheers!

  • http://migrationology.com Migration Mark

    Hey Brooke, Thanks for posting this great interview and for recommending Pat Flynn! I’ve heard of him before but never looked at anything deeply until now. His content is super legit, honest, and overall just quality info I can definitely learn from. Like Trever, I’m about to go sign up for Pat’s newsletter!

  • http://www.businessbackpacker.com Brooke Ferguson

    Hey Mark! Good to hear from you. Yes, I’m sure you will like his stuff and find it very helpful. Where are you these days? Still in BKK?

  • http://www.easyvanliving.com Larry

    Yeah, it is hard to stay focused on one project at a time. I have trouble with that concept. But, I’m working on it. I have been reading Pat’s blog since early on and he does offer great content and insight into passive income development. Thanks.

  • http://thomaswooldridge.com Thomas

    I just wish I heard of Pat Flynn a year ago. He gives some really good ideas and sound tactics to implement. I also could not believe people would post their stats online like that. Unlike some of those outrageous “STATS” on those over hyped ClickBank products..

  • http://www.plantingdollars.com Ryan @ Planting Dollars

    Pat is a great inspiration so I really enjoyed reading this interview, although I have a tough time taking his advice of “doing one thing at a time” when there are so many projects going on at any given time.

  • http://www.businessbackpacker.com/services Brooke Ferguson

    Thomas – lol. Yes, it’s nice to see the real deal… and someone who is sharing all of the right information out there. Cheers!

    Hi Ryan! Yes, with so many gadgets, apps, and high-speed everything it is difficult to keep focus on one thing at a time. I use time blocks to sort out my schedule. That helps me to stay focused and concentrate on one at a time. Have you tried Rescue Time? I just installed it so I can track my time better. It’s pretty cool so far! Thanks for swinging by and leaving a comment :)

  • http://www.fullsizeplatformbed.net/ Steve @ Platform Bed

    Hi Brooke and Pat

    Two great take aways in the last part alone

    “you should not be afraid of failure” “you should never try to be perfect” these are so true both in life and business.

    I would add that “you should plan to win”

    Thanks

Previous post:

Next post:

Sign Up For Your FREE eBook NOW!

 
Name
Email
Like it Share it Tweet it +1 it or Comment Below :)
MORE ARCHIVES
Google