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The ‘Passive Income Threesome’, with Pat Flynn (Part 1): What Actually IS Passive Income?

First up, if you’re coming over from the Smart Passive Income blog, thank you for dropping by. You’ll love the content that Pat and I have put together for this series!

As some of you might already know, passive income is a big part of living what I like to call the ‘Virtual Business Lifestyle’. It’s a subject that we’ve discussed on the blog more than once, for sure, and one of the best-received posts we’ve done on the subject was the second edition of the VBL Podcast with Pat Flynn, from the SPI Blog.

Last month, as some of you may know, I attended BlogWorld 2010 (if you haven’t read my report and checked out the video, do so here). After striking up a great friendship with Pat this year, through our online entities, several Skype conversations and the fact that we share Filipino blood (well, kinda!), it was nice to sit down with him on more than one occasion to talk, eat, laugh and discuss business. It was one evening, however, when we spent a good amount of time together, that we shot this 3-Part video clip series on the subject of passive income, that I begin unveiling today…

Pat’s rise to notoriety in the blogosphere has not come about overnight. Like all good entrepreneurs, he’s worked damn hard to get the recognition and build up the reputation he has today, and vows to continue to work hard and produce steller content on the subject that he is most passionate about – making passive income online.

In this first video we discuss what passive income actually is (you might be surprised to believe that there are some people out there that still don’t know exactly what it is all about!), and amongst other things:

  • Pat’s idea of investing your time into something just once, and then reaping the rewards for a long time to come.
  • An overview of the passive income process, from start to finish.
  • Why you don’t need to be involved with the ‘money making’ part of the process.
  • The importance of passive income, according to Tim Ferriss4-Hour Work-week.
  • How passive income allows Pat to boot-up his computer every morning, so he can see how much he has earned whilst he has been asleep!
  • Plus much more…

Coming up on Wednesday we have part two of the series in which myself and Pat go into a number of different passive income models, how to get things going for the first time and a heap of other excellent content for the budding online entrepreneur with a passion for making money, passively, online!

In the meantime, subscribe to the VBL Blog by signing up to the top-right of the site, you’ll get my free eBook on hiring, training and working with Virtual Assistants (I did a Guest Post on Pat’s blog about this a while back!), and leave your comments for Pat and myself below – he’ll be dropping by regularly to answer any questions you’d like to fire at him!

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