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The Smart Passive Income Podcast

AP 0843: What Is The One Thing You’ve Done Well to Make SPI Successful?

AP 0843: What Is The One Thing You’ve Done Well to Make SPI Successful?

By Pat Flynn on

AskPat 843 Episode Transcript

Pat Flynn: Hey. What’s up, everybody? Pat Flynn here and welcome to Episode 843 of AskPat. Thank you so much for joining me today. As always, I’m here to help you by answering your online business questions, five days a week. We have a great question today from Adam, who’s apparently asked many questions before and has got them answered, but don’t worry about that. I don’t do preferential treatment here on the show. I just kind of randomly select the questions and just see who happens to ask that question. But anyway, the question from Adam, we’ll get to in just a sec.

First, I want to tell you about FreshBooks. You can actually get a 30 day free trial of FreshBooks, an amazing piece of software that I use to help me keep track of my business income, my business expenses, and also invoicing. That free trial is available for you at FreshBooks.com/AskPat. Just make sure you enter “AskPat” in the “how did you hear about us?” section. It’s a tool I use quite often now, especially now that I’m doing a lot of billing for a lot of coaching and things like that that I do. Again, that’s FreshBooks.com/AskPat and enter “AskPat.”

All right. Now, here’s today’s question from Adam.

Adam Spencer: Hey, Pat. Adam Spencer here. I’ve just been listening to the podcast AskPat. A recurring theme has popped up. That is that you’ve made a lot of mistakes such as, not having an email list and not preparing enough content before you launched. You’ve made a lot of mistakes. I’m just really curious to know, what is the one thing that you’ve done well? The one thing that has outweighed every mistake that you’ve made in order to make you the success in part by your income, the success that it is today? I’d love to know.

I’ve already had two questions answered on the show, which is fantastic. I have to hang up right now because I have to go and record another question that’s just come to mind that I really want to ask you. Until next time, thanks Pat. Thanks for everything you do. I really appreciate it. Thank you. Bye.

Pat Flynn: Hey, Adam. Thank you so much for this question and all the other questions, and the next question. I haven’t heard that one yet. Just thank you for the support and all that great stuff. I think this is a fantastic question for everybody out there because, guess what, we all make mistakes, right? Here’s the number one thing that I’ve done very well. This is after eight years of doing business on my own. That is, when I make a mistake, I figure out what the heck I did wrong and what can I do better next time.

I literally sit down and consciously think of these things. It’s one thing to say, “Yeah, I’m going to make mistakes, of course. I’m just going to get up and keep going.” It’s another thing to say, “Okay, I’m going to make mistakes, but when I do make a mistake, I’m going to assess what happened so that I don’t do that same thing again.” That’s something that I feel very lucky to have a platform that allows me to share those thoughts, and document those thoughts. It’s kind of trained me over time to just consider whenever I made a mistake, “Okay, let’s not do that again.”

I’ve noticed that this happens in all aspects of my life now. Not just with business, but with personal stuff, with athletics, with everything. Fitness, and eating, it’s just I am always analyzing the why behind the things that didn’t go the way they were supposed to go. Which allows me to not just react better, but it allows me to stop getting so frustrated about these things. It enables me to consider these failures as challenges and actually have fun with it. That’s the one thing that I’m teaching my kids now. To consider failure as an option. This is something that we’ve picked up from the show Myth Busters because this is a phrase that they’ve coined over time. That is failure is an option. Also, the way you react to those failures can drastically enhance your changes for success, or drastically decrease those chances for success.

That’s the one. It’s not necessarily a skill, it’s just a conscious effort that I’ve made now. Now it’s become habitual to when I make a mistake consider, “Well, what happened there? The next time this goes around, what can I do better?” If I don’t know the answer to that, I ask. I ask a person who’s done it already. That’s by far the quickest and easiest way to find those solutions. You could look up research on YouTube, or Google, or whatever. That’s fine. That’s one way to do it. You’re often finding information or you find yourself searching for that treasure for a while before you find it. Gosh, the easiest thing to do is just ask somebody. Even if you don’t know that person, reach out to them, tell them what you tried. If it doesn’t work out, perhaps they can offer you some advice based on their own experience too. That’s why it’s really important to connect in this world.

Adam, I hope that provides you some direction and some good answers. Because you’ve already been featured on the show I’d like to, if it’s okay with you, offer a t-shirt to somebody who is listening there on the other end. We’ve done this a couple of times recently. We’re getting a lot of people asking questions. You’re more than welcome to ask as many questions as possible, as you’d like. Thank you for that. Anybody who has a question just head on over to AskPat.com. You can ask right there.

Those of you listening on the other end, whether you ask a question or not, now you have a chance to actually get a t-shirt for free. We’ll ship it to you on our wallet. All you have to do is leave a comment and maybe you can share what’s one thing that you’ve done that’s outweighed every mistake that you’ve made in the past. Leave that comment on Twitter with the hashtag #AskPat843. Again, that’s #AskPat843. I’ll pick somebody at random after a week after this episode goes live. Then we’ll hook it up and I’ll get you that shirt for free. Adam, thanks for that. Thanks for your question. I appreciate you. Keep asking away. For everybody else, again remember, AskPat.com. That’s were you go.

Thank you so much, I appreciate you. One more time, that FreshBooks link free trial offer is available at FreshBooks.com/AskPat. Make sure you enter “AskPat” in the “how did you hear about us?” section. Finally, here’s a quote by one of my favorite people who unfortunately is no longer with us. I wish I could meet him someday maybe in the future. Benjamin Franklin, right. A man who did both of these things. He said, “If you would not be forgotten as soon as you are dead, either write things worth reading, or do things worth writing.” Cheers. Thank you and I’ll see you the next episode of AskPat. Bye.

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