hey everybody what's up this is pat
flynn from the smart passive income blog
and in three to four minutes i'm going
to show you exactly what a passive
income business model looks like i'm
the screen because i want to illustrate
for you exactly how a person you can
generate an income without having to be
totally involved in your business your
business can run on autopilot and all
you're doing is you know sitting back
and watching the money come in and it
might sound kind of crazy but let me
draw it out for you so you can show you
exactly how it works this is how i run
my businesses and if you've read the
4-hour workweek by Tim Ferriss you know
that you'll you'll see this is sort of
familiar so let's say for example you
have a website out there about something
whatever it is that you're interested in
or something that you're passionate
about or something that you are an
expert in you have a website out there
and on that website you also sell an
e-book a digital book or some type of
digital product like a course or maybe
some audio product or something but for
this example let's say you have an
e-book so what happens is people will
visit your website maybe through Google
or Yahoo or Bing or maybe from a friend
or a link on another site people will go
to your website and maybe they're
interested in your ebook maybe they you
have something great to offer which I'm
sure you will so you have an e-book and
they're interested in buying it so what
happens is when they want to make that
purchase they enter their billing
information you know you've gone through
this process before into a payment
processor and after they click Submit
what happens in this business model is
that the payment processor will
automatically send this person an email
with a link to download that ebook or a
link to download that digital product
now happens immediately after the
payment and what happens at the same
time is the money from that payment goes
directly to you so let me ask you a
question looking at this business model
and this is this is the entire business
model here just kind of bare bones
structure of it where are you in this
equation how are you involved in order
for a transaction to process and be
fulfilled right here the the only part
that you're involved in is money coming
over to you and this is a this is
exactly the
Stinkum business model that I use and it
totally totally works let me give you an
example one of my sites at green exam
Academy comm you can go there right now
and see my picture just too so you know
it's it's me greens iam academy.com this
is a site that I have to help people
pass the LEED exam which is an exam that
people in the architecture and design
and building industry take so they go to
this site and you know I sell a number
of ebooks and study guides and practice
exams on this site so they go to my site
they want to buy those things they go
through the payment processor and
immediately what happens after that
payment is they go and get that email
again with that information to download
that ebook or study guide and I get the
money you know I get an email that says
you've just made $44.95 and you know
I'll wake up in the morning and I will
see a number of those in my inbox and
it's amazing it's just it's just crazy
because you don't have to be there in
order for transaction to happen I can't
stress that enough and that's the beauty
behind it now the thing is it's not a
hundred percent hands-off because first
of all you want to increase the number
of people that come to your site and
that that's not just going to happen
automatically so you're going to work on
marketing and stuff like that to get
more people into your website also
conversions the getting the people who
do come to your website to actually buy
your ebook so that's going to take a
little bit of work but again it's not
you're not trading time for dollars
you're actually investing your time
you're investing your time in the
marketing side of things just setting
this whole thing up in the first place
you're investing your time to earn money
more money later down the road so you
know it's not a hundred percent
hands-off and you may have to deal with
customer service sometimes especially
with these ebooks you know there's
people out there that don't know how to
open the zip file for example and
hopefully you'll have something like a
FAQ on your site that will help them
with that and you'll you'll be able to
build an FAQ for whatever products
you're selling over time you know just
little tip make sure to keep all those
questions that people have in some type
of database so you can refer back to
those in the future but this is it this
is exactly what the passive income
business model looks like so I hope that
excites you now the thing is this is
just one business you know
I have several these setup so I have you
know a whole bunch of them working for
me all driving money into my bank
account all different kinds of things
like iphone applications now for iPhone
applications for example it's not a
website that is you know holding all the
product the product being a you know an
iPhone application
it's the iTunes App Store and you know
they are also the payment processor so
someone with an iPhone finds an app that
they like that I built and they purchase
it it automatically gets downloaded onto
their iPhone at the same time when it
gets into my account there's just a lot
of you know different examples of
passive income that can happen and down
below you know if you're watching this
video on the website down below you'll
see links to three podcast episodes that
the podcast 15 16 and 17
that'll share all the different types of
passive income that you know can go
through this model so you can figure out
kind of what excites you the most
because some of you might like iPhone
apps more than writing ebooks or you
know whatever so really you know you can
go through and scroll through everything
go to the bottom where all the different
articles are and such but I would
recommend if you have the time you know
listen to podcast episodes number 15 16
17 it's a three part series you know and
listen to it in your car or at the gym
or even at work on a break of course and
and you know figure out what you want to
do because that this is this is a great
place to start this is why I built this
page this is why I reshot this video for
you I actually shot this in the past but
I want to redo it for you specifically
because you landed here on this kind of
welcome or start here page so thank you
for viewing this I hope this all makes
sense if you have any questions please
feel free to contact me Pat at
smartpassiveincome.com let me know what
you think yeah love to hear from you and
again episode 15 the smart passive
income podcast go there now if you have
the chance thanks take care bye
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