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The first conversation with Pat was about the similarities between parenting and business, and now we’ll be getting deeper into the business aspect. How do we change things as our business grows? Listen Here.

pat flynn headshotOnce Upon a Time as Pat:

  • Pat went to school for architecture, but in 2008 he got Let Go
  • He build a website to help people pass an exam he had to take to become an architect
    • That took off and went better than he had ever expected
    • From there he built the smart passive income. There he shows how he built the many businesses he has, and he talks about things he has done
    • You can see exactly where and how Pat has gotten his money through his various businesses
    • You can be yourself and have a business online
  • His business lets him grow and expand his skills while still remaining a father at home
  • Both Pat and his wife are experiencing an odd silence in the house, as the kids are more grown up now
  • Pat works from home, and his wife is a stay at home mom (she has the harder job)

Smart Passive Income

  • In the beginning it was just affiliate income
    • He still makes a sizable amount of income through recommendations of different products
    • Recently he has also became an adviser for certain companies
    • Advertising and YouTube has helped generate more income for Pat as well
  • His first product was a book he wrote on his journey from an architect to entrepreneur
  • At this moment Pat is putting together his first, true course he’s going to launch
  • In the beginning it was just promoting his ideas through a blog, and developing the important email list
  • Then, in 2009, he launched his YouTube channel
    • He was looking for an avenue where he could get more exposure, besides his blog
    • He didn’t want to show his face on camera, so he recorded his screen while talking. This functioned as a mix between blogging and filming
    • Eventually he got more comfortable putting his face on camera
    • No one really cares about how you look, people care about the content you put out
  • In 2010 Pat started his podcast
    • This widened his audience even more past YouTube and blogging
  • Some people would rather listen than read, or watch a video. With the different venues Pat is a part of, everyone can listen to him regardless of preferences
  • A big barrier that Pat had to overcome was asking people to pay for his services: he had offered many things for free
    • He didn’t feel like he deserved more money than what he was getting
    • He did deserve to reap the benefits from all he provides
    • Selling is good! #business #success #sell Click To Tweet
    • A lot of the most impactful moments in Pat’s entrepreneurial journey had to do with products he had purchased
    • He might not have taken those products as seriously if he had gotten them for free
      • You don’t want to charge just to charge, you want to give value to something
    • Pat looked internally at what had made him successful, and he found that a lot of it was things he had purchased
    • People are going to come to you no matter what industry for you and how you provide the services you provide
  • At some point in your entrepreneurial journey you have to stop thinking you can do it all… Click To Tweet
    • If you are working alone you will either not grow or you will try to keep up with the growth of your business by yourself and stop sleeping and ruin relationships as a result
    • Pat has handed things off to other people he had never thought of handing off before
      • He needs to focus on things that only Pat should focus on
    • There was a sense of pride that Pat felt: he felt that he should figure out how to do everything himself. It took some time for him to pass of jobs he would have done himself to other people
    • It might be difficult to hire people at first, but there are ways around that
    • Businesses are like a baby, it’s difficult to let other people take care of it
      • However, in your business it makes sense to delegate jobs to other people
    • Now Pat only has to do around 4 hours of work for multiple thousands of dollars in revenue thanks to hiring a team
    • You wouldn’t just hand over your kid to anyone, and it’s the same with your business
    • With all the resources available, there is no excuse to continue doing all the work yourself. There are many different ways to delegate and manage systems
  • It’s very important that you clearly understand what your goals are so that you hire the right people

On the fence?

Connect with Pat:

The Smart Passive Income

Twitter

Pat’s Website

YouTube