Episode Summary
Pat Flynn is the master of Smart Passive Income: business practices you can use to create a steady stream of revenue without constantly hustling. Pat has created courses, podcasts, blogs, websites, and a successful coaching practice, which all adds up to big impact. In this week’s Masterclass episode, we talk to him about storytelling, podcasting, and why people tweet at him about Back to the Future.
Episode Notes
In our special Masterclass episodes, we collect questions from real-life entrepreneurs at our live #IMakeALiving shows around the world, and ask our favourite experts to weigh in. From social media to scaling, from advertising to work-life balance, we get insights and guidance from folks who have been there.
When Pat Flynn was laid off from his architecture job in 2008, he wasn’t sure what to do next. On a hunch, he developed a test-prep course for architects in training; over the next year, his course brought him over $200,000 in revenue. Flynn had seen the power of passive income. Instead of developing more courses, though, Flynn started training others on how to do the same.
“Truly passive income pretty much doesn’t exist,” says Flynn, but he knows from experience that designing products that reward you for investing in and building them—and pay out time and time again—comes pretty close. In this week’s conversation, we talk to Flynn about his three P’s of mapping the market, why entrepreneurs should cultivate their superfans, and how bringing your human side into your business can improve everything from work-life balance to audience relationships. He also takes questions from past #IMakeALiving live-event audiences about interviewing guests on podcasts (and why you should ask “why?”), making the most of your passion-project time in a day-job world, and how to maintain our learning mindset even as we grow into our roles as thought leaders.
Guest- Pat Flynn
Website- http://smartpassiveincome.com/toolkit
Podcasts
SPI- https://www.smartpassiveincome.com/shows/spi/
Ask Pat- https://www.smartpassiveincome.com/shows/askpat/
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