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9218_151212_0508_eventual millionaire Jaime Tardy, Pat Flynn, Speaker

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1 Welcome to Eventual Millionaire. I m Jaime Tardy and I am so ridiculously excited for this interview today exactly just like this because the infamous Pat Flyyn is on my show. What s up? So Pat of course
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1 Welcome to Eventual Millionaire. I m Jaime Tardy and I am so ridiculously excited for this interview today exactly just like this because the infamous Pat Flyyn is on my show. What s up? So Pat of course as everybody who listens to my show probably knows who you are because you re so much bigger than me and amazing and awesome. What are you doing? I m like you re amazing. I m not, no. So he runs smartpassiveincome.com. He s also coming out with an amazing book called Will it Fly. You can check it at willitflybook.com. Thank you so much for coming on today. I m so excited to finally be on your show because you finally invited me on. Okay. His website said I m not a millionaire yet forever and I m like oh? And then it disappeared it and I didn t realize it disappeared for a really long time and I was like oh wait; maybe I could actually ask you and you said yes. So tell me about this when you actually became a millionaire, I wanted you to have a coming out on my show that you were a millionaire. I know. So tell us sort of about that journey of like crossing that mark. Yeah. It s funny people know that and people didn t notice that I did and then didn t have that mark on my site because I mentioned it on the side bar of my page that no, I m not a familiar, but I am living off of passive income I ve generated online through automated businesses and that was the truth for the longest time because and I decided to put that on there because I think that helped me stand out in the space that I m in, internet marketing, online business, entrepreneurship. 2 A lot of people are like I make millions and that was my way of saying I don t make millions, but I m still happy and excited about what I ve been able to create. Here s what I ve done, but eventually over time I crossed the million dollar mark and then I had to take it off. So super stoked to take that off and it s weird how taking a badge like that off is so opening and it s like a de-badging honor I don t know. De-badging. We ve coined a new term. Yes, but yeah, I m so excited to be here amongst all the amazing other guests that you ve had just thank you. Well, you did it. So good job I mean that s the thing and I think it s so interesting and I remember having this conversation with you before because part of your USP was I m just a regular guy. I m not a millionaire yet and then going from that to now I am and yet still people are still trusting. I mean not that they don t love you anyway, but you re now an internet millionaire. Right. I mean I did struggle with that internally and I worried so much about becoming successful because I didn t want to have that separation with the audience who was following what I was doing, but I ve been able to just realize that I just have to continue to be who I am. I don t have to change because I reached a seven figure mark. I mean that doesn t really matter. What matters is am I still who I am. Am I still providing value? Am I still happy? And yeah, totally. I mean nothing magical happens at between $999,999 or a million dollars. It s just a number, right? So I ve been the same the whole time. Okay, but everybody says that. So let me dive a little bit deeper because that s the thing people are like oh, the 99, that s fine, but what about being 50,000 to 1 million. There s a huge gap number one to go from that. So what do you think the difference is in yourself when you go from one to the other? Well I think obviously it s all in the mindset and I think a lot of it has to do with just confidence. Like now that I ve reach that million dollar mark, I feel like the next million is not going to be that far off which is really exciting because 50,000 to a million is crazy, but 2,000,000 maybe three 3 or 4 million doesn t seem that far off anymore. It s like yes I can do it and it yeah, in a way that label I guess if you want to call it does matter because it does give me confidence and I get invited on cool shows like this which gives me even more confidence and stuff, but whatever the dollar mark is I think no matter what my big lesson is always be yourself and know your strengths and that s how you can win moving forward. Well, that s so awesome and it s so awesome to see you because we ve been friends for over five years and it s so cool Too long. We re old now. Great. We were in our 20s when we met each other and now we re in our 30s. Yeah, but why do you put it like that. That s so bad. Yeah, never mind. Stop the show. But I know we re still young. We re done. we re young. Everybody has a number of years left. Well but so the thing is now is like everybody saw your income reports. So they knew that you are doing better and you are doing better and you are doing better. Did anybody ever go all my gosh I can t believe he is making that much or were you ever like Internet not millionaire, but you know what I mean, but the Internet guy making a lot of money because you don t seem the reason why ask that is because everybody loves you as a person. There like is so down to earth. He s so amazing, but you re showing how much freaking money you re making online which is something that doesn t sort of connection very well. Right and I think it s because I ve shared that whole during the from the beginning and I have proof behind that. I have not only the numbers in each of those lessons, but the or in each of those income reports, but the lessons that go along with them like the actual stuff that made those 4 numbers have been or made those numbers go down and even before I started I was really conscious about the fact that I was getting into the space of Internet marketing and I saw what was out there and I needed something to differentiate myself and the big differentiator actually there was a few was just being completely open and honest, sharing my failures to because nobody in this space had ever shared their failures. It was always this happy the unicorns and rainbows worlds and I was like no, that s not how it is. So I m going to share it like it is and then number three was just the fact that I had a case study in a business outside of this space to prove these concepts that I was learning and I was using that as my kind of crash test dummy landing pad. I had this existing business then allowed me to and qualified me to you could say to share all this stuff because we know a lot of people who get into this same space as us and they don t have that. They re just rehashing information from other people which is I know where they re coming from, and why they re doing what they re doing and on a level they do want to help, but on another level it s like are you qualified to do that. Exactly. For sure. It s like prove it and then I ll listen to you and I think we need a lot more of that online. I think what s so interesting though is that you could actually go back five years or however long your site has been and see you grow as a person. You know what I mean? I ve seen you grow over five years and I d say just incompetence wise; dress as far as how sharp he looks. He is very impressive. You ve you just come a long way in general. Would you think those pivotal moments were as you ve been coming up? Well, going to the mall every once in a while to buy clothes and things like that was really helpful. No, I love that you mention these moments because that s really I can find different pivotal moments in my career I guess you could say and it all starts from the beginning. I mean ever since I got laid off and became somebody that architecture actually wasn t what I was supposed to be doing even though that s where I thought what I went to school for. So getting laid off was a huge moment obviously. It opened up my eyes to this whole world of online business and automation and that s when I discovered Tim Ferris and Internet business mastery and all those sorts of things and then later we connected. Other 5 moments were my first dollar that I made online to the first time I sold a product to the first thousand dollars to the first time I had somebody reach out to me and send me a note that said you changed my life. Thank you. All those moments along the way are very, very important and ingrained in me and who I am and keep me moving forward. I think it s a big lesson is that those things might seem small, like one dollar here, your first products, I think you know from somebody, but those are all just starting points and shows that you can do those things and why can t you do more of that whether it s more money or more service to others and things like that. So even growing after that, there s a lot of things for example learning the fact that I can t do it all myself. That was a big moments and that s when I saw a lot of income come in. You know it s weird because it s kind of counterintuitive because I needed to spend some money which on things that I knew I could do myself. You know that I have gone through the struggle for the longest time I was doing everything by myself and I don t know if it was because I m a dude and guys don t want to ask for direction and maybe that s a part with it, but also there s some pride in just figuring some things out. I was always the guy who would tinker with things, break apart things and figure out how to put them back together and I loved to do that, but online when you re an entrepreneur and you are running your own business, you can t be doing that and there are other people who can do those things that are even faster than you and it took me a long time to really realize the power of hiring other help and it started just with E Lance which is now upwork.com where I hired somebody to do a voiceover to read an audio book that I actually tried to do so. This is back in 2009 was a complete failure when I did it myself, but I hired somebody. I paid them $1400 to read them to read it off for me and she was amazing and they made up the cost for that in two days, in one or two days and I was like mind blown. Well, this actually works. So then I got involved with VAs, virtual assistants overseas and that was fantastic. That was doing a lot of side businesses and a lot of niche sites and I still have a few those up right now, but that s what I use those four and not stopped and I let them go, but then I realized wow, I need to build a team. 6 I actually went to my Michael Hyatt s event platform conference and I saw him in the audience conference sitting at the table with a notepad taking notes from all the speakers and I was like whose event is this? Isn t this your event? So I spoke to him afterwards and I was like Michael it was so cool to see you in the audience. I ve never seen a conference director do that. So it spoke highly of Michael and who he is and the fact that he s always trying to improve which I ve learned and gotten inspiration from him on that level, but additionally I was like how is this conference put together? Who s running the show and he s like my team. My team does everything and I was like holy moly. Not only is he providing service to me as an attendee, but she s even learning on his own and he is not doing any work to put all of this together. His team is doing the work and so that really inspired me to focus on hiring team a little bit more local, not necessarily in San Diego which is where I m from, but just local, somebody in the same time zone and more importantly I found that it these with a local versus VA overseas, the people that I work with now they do what I tell them to do, but then they do it in the best way. They go above and beyond that. They figure out ways to do it even better and I described to do those things. The other VA is from the Philippines. There amazing. They did all of their work when they were supposed to, on time, quality of work, but that s it. There was no what if you did this instead because that s disrespectful for them to do in that culture. Here it s like oh man, let s figure out what we can do better and I love working with the team who supports my values, my values and wants to help my audience just as much as I do. See I adore that in a want to go really deep into why you switch to why you switched. Before we get into that, how the heck did you let go, I remember you still editing your own podcast forever, right? Yeah. So I know I remember that piece of you letting go and I wanted to just sort of fell people because there are so many people listening right now that are like I know but I m really good and entrepreneurs are kind of control freaks. 7 We are. Yeah, I mean [inaudible] [13:27] podcast I had edited it ends in the graphics in the show notes for I think the first hundred and 20 episodes and it was all me and it was done the way I wanted and our good friend Chris Ducker who owns Virtual Staff Finder and as a company in the Philippines, one of my best friends, for two years he was like Pat, dude you got to outsource that. Why are you doing that? And like it s my baby. It s like my podcast. I needed that my way and I don t think that anybody else can do it the way I want it to. It has to be done very specific way and it was like that forever and then I finally had to outsource my second podcast in order to make it happen. So Act Pact came out, had this idea to have voic questions come in and answer these voic questions for my audience five days a week and the only way I would be able to pull this off was to hire somebody to help produce that for me, to do the editing to a point where I am only recording the answers to those episodes. I m not even listening to the questions. I m getting a transcript of what those questions are. I m getting hand I get to hand select the ones I want to answer and I just say okay question I m answering this question here and here s my answer and then maybe the ad spot if there s a sponsor and that s all I do. So when I realized that in terms of our ROI and stuff like that, I was spending I would say three hours a month to create a full month s were of Act Pact episodes. That s 25 episodes because they run between eight and 10 minutes. Three hours a month and when you consider that every episode gets between $300 and $500 in sponsorships, it s like $1,000 or more an hour. I don t know. Caleb you can do the math or whatever, but Are people even do his math for him. How awesome is that? Yeah, right? I do my math for me. Brush my teeth. Do all this other stuff. We re not going to go as deep as I know I can go without, but it was amazing. I was like oh my gosh. I m making more money which was great, but more than that I am giving my audience something that is completely useful. I m serving them much better now because I hired somebody else and I was like wow, I need to do this with my podcast, to really. Two and I m stupid for not doing it earlier and you remember this whole progression of when I finally because we re going to mass my 8 group together and when I finally did it, it opened up about five hours a week for me and now That s insane. No, it s huge, right? And I thought I wasn t wasting that time because I was working, but we often do were and feel busy when we don t really know where else we could be putting our time or who else me to be giving those tasks to and now they re done much better, faster and now with the podcast for example on Wednesday, I open up WordPress, the whole post is there. The file is linked up already, the show notes are done, all the links are created and I just have to read it over, change anything that needs to be changed and I just hit publish and it s literally five minutes and it is the most beautiful thing in the world. Okay. So I think this is extremely important because looking at what you did and learning that lesson, you and it took you a little bit longer than it could have. Once you learn the lesson you go crazy and I think that that s why people listen to your stuff anyway because you went from no team well, I mean like Philippines and VAs here and there to an amazing team that you have now that you re like oh by the way I have been do this. I m like really you went from 0 to 100 ridiculously quick. So how did you do that? Got connected with the right people. I asked for a lot of help. Got a lot of great advice from people like yourself, the band members and other people I know who have big teams. So Michael Hyatt again was a big inspiration. They reached out to him and I was like can you help me out and he actually didn t have time to help me out, but he redirected me to some posts and podcast episodes of his which was great and it s funny because I did the same thing. I don t have time to answer your question, but here are a couple episodes and they were completely useful and again, talking to a lot of people and just starting small. I think starting small and just the velocity was there after I figured out the process. So I actually hired Matt first before anybody was originally an editor for my book, Let Go, in the spirit started. It started with somebody way to redeem new, who I knew loved what I did and wanted to add value to what I was doing and so I hired Matt to become essentially the project 9 manager or producer you can call him and now he s just my touch points between my other team members and myself. So I only go through Matt typically which is awesome and yes, it costs a lot of money, but it s absolutely worth every single need to work with. So now when I get a new idea for example this book that s coming out, and like Matt, I want to write this book and so let s talk about it. He comes up with a plan. We come up with a plan together. We work it through then he takes care of the people, everything else that needs to happen in order for all that stuff and he comes back to me with okay, since this is what you re proposing we need these things to happen by this time. This is where your responsibility is. So you need to write the book and then if you have it done by this time, we can have all these other things in place. If you want to shift the data around just the spreadsheet around. He is like super analytical and stuff which I love, but it s so cool because then in the process the kind of overarching looking at the whole thing. Then I can focus on the content of that book which is where I need to focus and then the only thing I can do that is only me and so it s a beautiful thing. We ve done that in several different instances in just more recently with this book. That s what s insane. So you are really focusing on what you are really good at. What a surprise? And people get told this all the time. Focus on your strengths. You can t do it all. Your life lesson learned. Good to know. Hire the right people. Also everybody knows that. Quote unquote everybody knows that, right? It s way harder to do. Well we all know we need to go to the gym, to, but we don t go to the gym all the time. We re going to do impressions in the little bit. Yeah. That was my Will Smith. You know what I m saying? That was Will Smith? Will Smith doing in person somebody else. I just watched Fresh Prince the other day. So I don t know. 10 This is whole areas. I love you so much so back on track. Focus. Yeah, focus on one thing at a time. This is a perfect segue because a lot of entrepreneurs are ADD. What a surprise, right? Were a little all over the place and having somebody that could manage of and that s why Matt seems so perfect for you. He can actually manage he can go hey hat, just do this and you re like okay even though you are the boss. Yeah and she knows me and my strengths and what I m good at and he knows that there are certain other things that need other people then we ll talk about it. He doesn t just hire people randomly. We talk about it. He s like in order to make this work we need to for example a good example and you know this is I recently hired a content manager which is huge. I was struggling a little bit. I went to Matt. Unlike Matt I need some help bec
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