One of the greatest ways in the current technological age to generate some extra money is through passive income. The concept has been around and in practice for some time now, and there are many tips and tools available to get started or improve an existing process.
The definition of passive income on Pat’s website is: “Building online businesses that take advantage of systems of automation that allow transactions, cash flow and growth to happen without requiring a real time presence.” Pat generates a decent passive income through various avenues, such as an e-book and audio guide, lead certification and affiliate marketing, but he stresses that it does not happen overnight. It requires hard work and time to get off the ground and see real monetary results.
It also requires passion for something, especially helping others. Pat discusses using platforms like YouTube and Facebook to get content out there in front of a larger audience. He and Jason also talk about Podcasting.
Pat Flynn is a 29 year old father, husband and owner of the Smart Passive Income brand, which consists of a very successful blog, podcast and YouTube channel. Pat’s approach to online business and blogging is complete transparency and honesty as he shares all of his separate online businesses, experiments and case studies, down to how much he’s earned and all of the wins and losses along the way.
His blog currently has 50,000 subscribers, he has over 1.8 million downloads of his podcast and about the same number of video views on YouTube.