Entrepreneur Bio : Pat Flynn

This is the first post in the Serial Entrepreneur Bio series where I will highlight the businesses of successful serial entrepreneurs, what they did to get to where they are today and how we can learn from that. I will not be profiling the likes of Richard Branson et al because, although they would make very good case studies, their successes might look too daunting. I want to profile entrepreneurs that are like you and me, so you can see that success is achievable if you are ready to put in the work necessary.

Okay our first case study is Pat Flynn from the Smart Passive Income blog.

He started his first business when he was laid off from his day job as an architect. That business is a website that offers exam prep guides for specific exams related to his previous job. That site was a success by looking at his income reports, and Pat hasn’t looked back since. He has since started other other business that generate additional income streams. Let’s go through a list of some of the businesses that Pat has set up.

Green Exam Academy

The Green Exam Academy is a site that sells exam prep guides. The site is successful because there is a wealth of information available on there for people that want the guides and you could get 90% of the information you need from the site before you are ever asked for a purchase.

iPhone App Development

Pat along with a friend and business partner Quoc, setup LOLer Apps and have taken advantage of the traffic on the Apple App store. and have released 4 apps to the store. As of today, their apps are averaging about $2,000 a month in sales. So you might think, How did an architect become a software developer? Well he isn’t. Pat and Quoc come up with the ideas and then outsource the development to an offshore team. Talk about being smart.

Affiliate Income

On his blog, Pat promotes a couple of resources that have helped him get to where he is today. One of them is the Internet Business Mastery Academy. I was once a member of the academy and I would recommend that to anybody looking to start an internet business. These affiliate promotions are successful because Pat has used these resources and he is a living personal case study that the methods work. This is not the case for many so-called affiliate marketers. Pat earned over $200,000 in his first year in business. Not too shabby, eh? There are other businesses that adds to the monthly bottom line but we can already learn valuable lessons from the three I have highlighted. What are the lessons?

Be transparent

Pat takes this to an almost extreme level, he has pictures of his wife and newly-born baby boy on his website and frequently makes references to them. You have to decide how much sharing you are comfortable with but if you do share personal details, your audience will feel as though they know you. And who are you more likely to buy something from? Friend or stranger?

Don’t wallow in self-pity, put your life in your own hands

I’m sure Pat had the option of looking for another job when he was laid-off, it was during the worst financial crisis in history and it could have been ages before he found another. Instead of letting the lay-off put him down, he decided to take action and execute what he had learned from the Internet Business Mastery academy.

Don’t be a hero

As I highlighted in my previous post, you will never achieve anything remarkable if you decide to do everything yourself. Outsource the tasks you are not good at and focus on the tasks that make your business grow.

Add value to the lives of others

The SPI blog has tons of blog posts that give so much advice for free. When you add value to the lives of others you will build an audience of raving fans that listen to you and will buy your product when you make the offer. This is the first pillar of building a profitable business. If you want to know about these 7 pillars, please sign up and get the free e-course sent to you by email. If you want to find out more about Pat, please click over to his blog here or you can follow him on twitter or become a fan on Facebook. The guy is everywhere, huh?