Interview: Pat Flynn on How to create Smart Passive Income for your business
I am so excited because I was able to interview someone who I consider to be a mentor! I interviewed Pat Flynn and he shared his insight on what he has been able to accomplish so far to generate smart passive income to the tune of about $9K+ monthly (which he openly shares with his blog audience on a monthly basis – mind boggling! I mean he goes into detail about how much he makes each month and how he does it). The interview which I am about to share with you is all about how to generate passive income. This is an issue all small business owners face; the question is how can you create streams of income that work on autopilot? Let’s learn together.
Why you need to create Smart Passive Income for your business [29:15m]: Play Now | Play in Popup | Download (36)
In this interview Pat discussed:
- Why an online business is one of the best means to create truly passive income
- How to use deadlines and milestones to your advantage
- How to Mindmap and draw out your entire business model
- How to cultivate the mindset needed to create smart passive income
- What realistic time frame to expect to get to smart passive income
- How to invest the time upfront to create systems that work on autopilot
- How to turn your knowledge and business expertise into a product that serves a need
- Why you need to build several passive income streams
- How to standout from your competitors
- How to get your community to trust you and buy your products and/or service
- When to automate processes and when to outsource
In his own word:
Every action you take must have a reason behind it. If you’re doing mundane work that won’t get you anywhere, what’s the point? Don’t just take action – take action that will advance yourself and your business.
Connect with Pat Flynn:
Pat is someone I have found to be genuine and teaches entrepreneurs how to create Smart Passive Income by being a resource and also someone who is willing to show you in detail how he does it!
On his website www.SmartPassiveIncome.com
On Twitter @PatFlynn
On Facebook www.FaceBook.com/smartpassiveincome
Questions for you:
- Besides creating smart passive income online what other ways this be done?
- Do you think that you can turn your business expertise into a product that meets a need? What have you done to find out that the need exists?
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