101. Pat Flynn: Teach While You Learn

One of the key things that I did early on in my career as an independent creator was set up passive revenue streams.

If it wasn't for this passive revenue, I never would have been able to free up the time to explore, so I never would have come up with my first book, Design for Hackers, and I probably never would have found the time to make this show.

I looked at the passive revenue as a way to explore other things. I didn't make it a part of my personal brand, so to speak. In fact, one of my passive revenue streams was an online dating blog that I wrote under a pseudonym.

Our guest today, Pat Flynn (@patflynn), has a different approach. He's all about the passive revenue. He's been setting up passive revenue streams since 2008. He started with a training e-book for an architecture exam, and he's got a security guard training website, courses for marketing a food truck business, podcast playing software for podcast websites, so many more things, including his latest book, Will it Fly, a Wall Street Journal best-seller, which shares what he's learned about knowing whether a new business endeavor is worth following.

Pat has been sharing his income reports every month since he started. These days he's earning close to a quarter of a million dollars a month, with all of the businesses I mentioned, and more, including his extremely popular podcast, Smart Passive Income.

In this conversation, we'll talk about:

• How did Pat start making money by sharing what he was learning? You can learn a lot about why you don't have to be a so-called expert to help people.
• Pat went from the well-established profession of architecture, to making money online. What leaps did he have to make to transition from a profession that was so important to his identity?
• How does Pat think about transparency? What gave him the idea to start sharing his income reports online?

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Show notes: http://kadavy.net/blog/posts/pat-flynn-podcast-interview/