SPI 016 : Types of Passive Income Generated Online and What to Expect From Each – Part 2

The Smart Passive Income Podcast Logo

In this session of the Smart Passive Income Podcast, I continue to investigate the different types of passive income streams that can be generated online and what you can expect from each. I discuss the potential costs that are involved, how one might get started, what kind of results are typical and how long it might take to see those results.

During part 2 of this series, I talk about:

  • Two reasons why I believe blogging is a form of passive income.
  • The common formula that is used by bloggers to generate an income online.
  • The one thing we should do differently than Seth Godin.
  • A trick when naming your blog that could make things a lot easier for you.
  • How you can create a new blog, pick a theme and write your first post in less than 4 minutes, even if you’ve never done it before.
  • Two things that I wish I had done immediately when I started blogging that I didn’t do (and it’s not about building a email list).
  • The typical progression of bloggers, from excitement to failure and how to overcome it.
  • How to make an eBook that writes itself.
  • The differences between E-Junkie and Clickbank to sell and deliver an eBook to your customers.
  • How throwing away 25 pages worth of audio that I recorded turned into $1400 in two days.

Right click here to download the MP3

Items Mentioned in this Session:

As always, thank you for your support, and I wish you all the best. We’ll finish up this series in the next session and after that we’ll get back to some interviews with some new guests on the show.

Cheers!

Transcript:

Click Here to Download the Transcript (PDF)

  • http://Www.brandonhansen.com Brandon

    Pat,

    While I haven’t listened to the podxastyet, I just wanted to say thanks foe what you share on your blog and podcast. I fist heard about you on a podcast with jay and sterling and have followed you since.

    Great job and thanks for this post on passive income. It’s what we all want and work for.

    Brandon

    • Pat

      Thanks Brandon – I appreciate it. It’s been a long time, it seems, since I was on the IBM podcast with Sterling and Jay. Good memories!

      Cheer Brandon, and all the best to you!

      • http://increasingworkplaceproductivity.net Bojan Djordjevic

        Hehe, I heard about Internet Business Mastery trough your blog and listenng to those guys ever since :)

        Flynn are you member at their Internet Business Mastery Academy?

  • http:lyndsysimon.com Lyndsy Simon

    Once again, you’ve succeeded in bringing me out of my feedreader and onto your site. I’ve got a lot to learn from you, that’s for sure.

    In fact – we’re about due for a recommendation on some type of tool, aren’t we? I bought Market Samurai on your advice and am *very* happy with it. These days, I’m moving into testimonial-based affiliate sites, and would love to hear if you know of something that would make my life easier!

    • Pat

      Hehe, I’m glad I could pull you off your reader Lyndsy!

      I’m stoked you’re happy with Market Samurai – I’m always happy to recommend products that are awesome! I’ll look around for something that could help you. If I find anything, I’ll let you know. Cheers!

  • http://www.youngprepro.com Onibalusi Bamidele

    Really awesome podcast Pat,

    I really love this podcast and you’re a great example of generating passive income through podcasts: Market samuria is really doing well for you and I think that is because you figured out a way to really help your audience.

    I’ve been taking links in post with levity for a very long time but I’ve recently started focusing on it.

    Thanks so much for the awesome post!

    -Onibalusi

    • Pat

      Thanks Oni – keep up the good work dude!

    • http://increasingworkplaceproductivity.net Bojan Djordjevic

      I bought Market Samurai ages ago, but need to get into habit into using it. It’s great for checking the ranking of your blog for all keywords that are bringing you traffic. Thanks for reminding me about that Oni. Still owe you that guest post…

  • http://www.incomescene.com Manuel

    Thanks for the Podcast Pat,

    You offer so much quality on this blog and I’m blog crushing on you.

    Forgive me but I just can’t help it.

    Thanks

    • Pat

      Hehe – blog crushing…that’s awesome, I think :P

      No worries though, and I wish you all the best. Cheers!

    • http://pennyonthefloor.com mike

      haha, i like that term.. “blog crushing”

      • http://www.thenichethinktank.com larry

        Is that like having a “Broner”? hahaha
        Eewwww…

  • Tessien

    Hello Pat, as always, you published something extra great for any listeners. I found your website back in July of 2010 and from that time, I am your loyal long time follower, I red your blog from your very first post and studied you professional road trip in every single detail. Now I finished my university and I am ready to start working on my own online business… Posts and podcasts like this one are most valuable (at least from my sight) for everyone. I would like to say just THANK YOU for all the content, advices and real techniques you share here on your golden blog. You rock Pat. A really appreciate all you are doing :)

    • Pat

      Thanks Tessien – I always try to go above and beyond for loyal readers like yourself. Congrats on finishing up University, and good luck with your own online businesses and personal ventures!

  • http://www.sbrecruiting.com/ Paul

    Another awesome podcast Pat! Your content is first class mate…

    I am also an E-Junkie fan and highly recommend it. Many people don’t know that you can create coupons with it etc.

  • http://www.virtualbusinesslifestyle.com Chris C. Ducker

    Hey Man…

    Great session. 16 – wow. Doesnt seem that long ago that you started this podcast. I’m glad that you’re still sounding ‘real’ on them.

    e-Junkie and Bluehost are great, I love ‘em, too.

    I subscribe to and download a lot of podcasts. But, generally I wait until I travel to get up-to-date with them. Yours on the other hand, I stay bang up to date with. Always.

    Keep rockin’.

    C

    • http://www.outsourcingpassiveincome.com/ Ivan

      Hi Chris,

      I follow your blog and I am a dedicated reader/fan.

      I also outsource some of my work to the Philippines and it would be great to chat with you about our experiences.

      Thanks
      -Ivan

      • http://www.virtualbusinesslifestyle.com Chris C. Ducker

        Cool domain name, bud.

        Sure, we’ll start getting involved on the blog a little, and we can certainly get to know each other a little to start with.

        Look forward to seeing you over there.

        C

  • http://www.outsourcingpassiveincome.com/ Ivan

    Hey Pat,

    Ivan here, your offline friend.

    Great post on creating an authority blog. So great in fact, I have decided to start a blog of my own.

    As you know, I have seen pretty good success with my iPhone game company. I don’t know if I told you but I have 46 games now. The knowledge and experience that I have learned in outsourcing those games are invaluable. I plan on creating a blog that takes what I have learned and I want to convey it to my readers.

    I have also created a niche site of my own, following your outline on your site. I have managed to reach the first page of google and I am seeing adsense/amazon money come in. I would consider that a success. Now to get to #1 and outsource more!

    I literally just bought my domain and I plan on mindmapping the content for my site after this post. My writing and grammar suck, but it does for a lot of people online who make boatloads of money. Ain’t nothing to it, but to do it.

    Anyway, just wanted to let you know that you’ve inspired me to start a blog of my own about outsourcing passive income.

    Thanks
    -Ivan

  • http://www.retire9to5.com Mark Dacoron

    Pat,

    Great info on passive income. Coming this week, I will soon implement some of your strategies after reading all the info from your website. I just need to put my goals in front of me to get some momentum. Thanks for all your info and the help you give me.

    • http://increasingworkplaceproductivity.net Bojan Djordjevic

      awesome domain name Mark!

      • http://www.retire9to5.com Mark Dacoron

        Thanks, all I need is some traffic and content.

  • http://www.todayhaspower.com Rob

    Pat,
    You are an inspiration to me. Quality information abounds here.
    I wonder how many out there attribute a big chunk of their success to your work.
    At the end of the day, it’s nice to be paid for what you do in a monetary sense. But, the thought of impacting the lives of so many (and their families) has to be overwhelming.

    Thanks a million brother.

    Live it LOUD!

  • http://www.therenderq.com Harlan Yee

    Hi Pat,

    Looking forward to listening to this on my commute home tonight. I’m particularly interested in the e-Junkie vs Clickbank portion as I’m finishing a virtual product and researching how to create an affiliate program. Is it true that with e-Junkie you have to manually send the payouts where on the otherhand, Clickbank handles the distribution of affiliate payments?

    Anyways, love the podcasts! You’ve made my commute a “learning time” rather than wasted time.

    • http://increasingworkplaceproductivity.net Bojan Djordjevic

      Every time when I am commuting I am listening to podcasts. I believe Pat made a list of good podcasts he recommends. Having your “wasted” time carefully planned can lead to immense knowledge.

      I highly recommend guys from http://automatemysmallbusiness.com/

      • http://therenderq.com Harlan Yee

        Thanks for the recommendation! I’ll definitely check it out. With a 1 hour+ commute, the podcasts are great when I can’t be on the computer. And Pat answered my question about e-Junkie/Clickbank in the podcast.

  • http://www.journeyofmyown.com Clayton

    Hi Pat! I’m a former architectural job captain-turned internet marketer myself. I just wanted to stop by and say hello.

    Anyway, great podcast with lots of useful information. I’ve been doing affiliate marketing for over a year now and I’m in the process of creating my first product soon. You’re giving out so much good info here.

    Thanks buddy!

  • http://www.dropoutgotrich.com Kevin

    Anyone have a cliff’s note of the e-junkie vs clickbank discussion? (I’m really busy this week… )

  • http://rosetta.null-zero.com Siegfried

    I like the way you are redirecting links from your website to affiliates, cool :) I catched myself clicking them to see where will it lead :)
    regards!

  • http://pennyonthefloor.com mike

    every form of online passive income involves a ton of up front work. whether it be a niche site OR a blog, you still have to put in the work to get the ball rolling – and in some cases, you need to continue to work to some degreee. what makes it passive is that it continues to make money for you, even after your work is done… ie. when you are in bed, on vacation, relaxing during the weekend… and in some cases, even when you are completely done working on the website, it can continue to earn money for years to come.

    so as long as you have some sort of income stream available on your blog, then it is definitely a form of passive income… (sorry for repeating some of what you said, but I was taking notes as I listened.)

    great podcast once again. i’ll have to finish when i get home.. got busy at work and had to cut out about half way through.

  • http://www.skinbeautyhq.com Zoe

    Wow! Thanks so much for sharing all this Pat.

    Out of all the top bloggers I follow, you’re the only one who doesn’t make the experience “salesy” and you’re a lot more transparent with your information than anyone else.

    Keep up the great work!

  • http://www.internetentrepreneurconnection.com Hector Avellaneda

    Pat – love it man! I’ve read Ebooks The Smart Way and, heck, I would have totally paid for that! Goes to show that you are all about quality and being a resource. It’s definitely no surprise why as soon as I get an email that you have a new post, I’m down here reading it!

    Thanks for the words of inspiration and challenge at the end of the podcast. I have some work to get done!

  • http://www.skinbeautyhq.com Zoe

    I tell my friends that passive income can be made from blogging, they find it fascinating but fear that it won’t work for them – which ironically won’t because they don’t have the right mentality for it.

    I got my boyfriend into blogging and he made $1000 in his first month. I taught him how to blog and set up his blog and now he makes more than I do. But I’ll catch up to him in time :)

    • http://increasingworkplaceproductivity.net Bojan Djordjevic

      Well that’s a men, don’t compete with him, support him :)

  • http://www.michellehaku.com Michelle Haku

    Hi Pat

    I just wanted to thank you for your podcast.
    I was in the faze of giving up, but after listening to you today, I thought to myself, man he nearly gave up, but look at where he is now.

    I’ve just written the first page of my very first eBook. I have downloaded the mindmeister that you suggested and it’s brilliant.

    Thank you so much for your encouragement. I truelly appreciate it.

  • http://increasingworkplaceproductivity.net Bojan Djordjevic

    Great show as usual! Maybe we already know many of these suggestions, but clearly, whenever you make a podcast it shines trough with energy and motivates the big crowd out there!

    I want to thank you for it, because whenever I come back here, I leave with something.

    And that something is positive energy that motivates me to write and work!

  • http://EminiMind.com Tim Racette

    Awesome podcast this week Pat! Thanks for sharing the realistic time frames of expecting results. There’s a million ways to skin a cat, glad you didn’t give up on the Smart Passive Income blog!

  • http://www.megabizflakes.com samuel

    This is awesome Pat! I swear you’re a genius :) great info you shared! Yeah, let the Game Begin :) Rock on

  • http://www.sportsmanagementcc Remco

    Hi Pat,

    I recently started using the audioplayer for the first time. I really like the possibility to have the timer count down, so everybody knows how long the audio takes……have you evaluated this?

  • http://blog.crucialbusiness.com Christopher

    hi Pat, thanks for including the transcript in PDF. I don’t have a fast internet connection so I was thrilled that I could save a file to read later even offline.

  • http://www.raquelmangual.com Raquel Mangual

    As usual, this is a great post and I really enjoy your blog. I’ve been getting into creating passive income offline, and I wanted to know if you could recommend any good blogs on the subject?

  • http://www.hothitmedia.com Ralph

    Hi Pat,

    What do you (and others) use to link back to older posts? Do you manually do that or do you use a plugin for this?

  • http://www.thestealthreinvestor.com Steph

    Hi Pat,
    Excellent podcast, as usual. Having a transcript of the podcast on your blog is such a great idea. I don’t see too many bloggers do that. Do you do the transcript by hand or do you have a program do this, or have your VA do this for you?

    BTW, I also liked your recent interview on BlogcastFM, too.

    Thanks for the link to the mindmap site. That is a great tool I’ll use to plan out my ebooks.
    Steph

  • http://www.esiteweb.net Annie Bergeron

    Great podcast!
    Great information again.
    Does a french version of Pat exist? ;-) That would be awesome … for me :-)

    Thanks for the inspiration

  • http://www.chinesepotpourri/blogspot.com Charlotte Edwards

    Can’t wait to listen to this…if only I can get it to download. But will read the transcript too. Thanks for providing that to read.

    Would you have a few minutes to spare to send me a copy of your Ebooks the Smart Way ebook to my email address (knitter82 at yahoo dot com)? I have been subscribed to the list for several months now but each time I’ve tried to download the book (about once a week), it won’t open. I think it has to do with me being in China. This is not the first time I’ve had to ask for it to just be sent to my email address.

    I’ve enjoyed reading your archives and have learned so much!
    Charlotte

  • http://www.mashspargeboil.com Neil

    Awesome stuff, I have read through the transcript but will listen to this later as well, make sure I didn’t miss anything

  • http://moneymakinginarecession.blogspot.com/ Rose

    I love your niche site duel stuff.

    I guess with passive income, people should pick the type that suits them best. Not everyone is cut out to be a blogger (you need an outgoing personality and you need stamina). Some of us quieter folk are better suited to anonymous niche sites!

  • http://buylikebuffett.com Mark

    Good explanation Pat. I think blogging is a form of passive income as well because of the residual effects of it.

  • http://www.entrepreneurshipsecret.com Fisayo Sanyaolu @ Secrets Of Entrepreneurship

    Brilliant Podcast. Thanks for sharing the knowledge

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  • http://joycewycoff.blogspot.com Joyce Wycoff

    Pat … I was delighted at your recommendation to mindmap first! You are very generous with your information … thank you for such detailed guidance. (author of Mindmapping … the first book focused entirely on mindmapping.)

  • http://blogreloaded.com Tinh

    Great pod-cast and it reminds me a lot of things that I need to go with. Thanks

  • http://www.businesscapturemastery.com Steve Price

    Hi Pat,

    I’m really enjoying this short series of podcasts – thank you. I use Wishlist Member (like you’re planning to) and have previously integrated it with Paypal. I’ve upgraded now to Paypal Pro and have been told that Pro doesn’t integrate with WLM – and worse that they don’t plan on integrating with Paypal Pro! Is this something you’ve come across, or have I got the wrong end of the stick on this one?#

  • http://www.businesscapturemastery.com Steve Price

    Follow up to post above. I’ve now communicated with the folks at WLM and they tell me it doesn’t integrate with Paypal Pro and there are no current plans for it to do that.

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  • Diane

    Pat, I just want to thank you for always having transcripts of your podcasts. It allows those of us with hearing problems to enjoy learning the same material as everyone else.

    I have a question. I am just starting my first wordpress blog. I’ve been working on it for the past 2 weeks. Do you think that not having podcasts will limit its audience?

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  • http://rileycabot.com Riley Cabot

    The 4-minute-blog video is what really got me over the hump of feeling too overwhelmed to start, back in the day. It wasn’t creating content I was afraid of, it was the technical aspects of trying to run my own site that freaked me out. So I spent months researching all that sort of stuff. Then I stumbled on your video and thought “Holy crap! Is THAT what I’ve been so scared of the last 6 months that I’ve just been spinning my wheels?! That’s SO easy”. And then I started the next night, so thanks for that!

  • http://natureisnurture.net/ Cindy

    Dear Pat:

    Thank you so much for putting together your 3 part podcast on Types of Passive Income. I must tell you that I listen to them over and over. Yesterday I was lamenting about my lack of income from ads and wondering if my blog was worthwhile. Today I listened to this episode and became inspired again. Thank you for your candid comments and inspiration to keep on keepin’ on!

  • http://moneyinternetblog.com Money Online Blog

    Hi Pat,
    I’m your big fan. You completely got me with itunes podcasts. Now when I’m shopping – instead of just listening music – I enjoy receiving knowledge every moment!

    I wanted to ask you, – you keep mentioning “we” instead of “I” when you talk about your projects. May I ask, who is “we” and how many people are working with you? (I’ve notice Flynnfustries, LLC mark below too).
    Thanks!
    Galyna

    • Pat

      Thanks Galyna.

      If I’m referring to the niche site coaching course I did, I did that with Tyrone Shum, hence the we. If I’m talking about other things, I’m probably referring to myself and my developers or my VA. :)

      Cheers!

  • http://whatsreallygood.org Thor

    Cool!

  • http://www.streetstyles4all.co.uk Rob

    It’s crazy because when you speak on a podcast you really speak like you are just a friend looking out. And I really do appreciate you looking out and guiding us. There is so much content out there to sift through and yours is so valuable.