That makes the grand total from book earnings, that includes ebook to paperback to the royalties from Kindle Unlimited, audio book sales, bounty units, the royalties from foreign rights and remember the emails that were collected and then in turn turning those people into customers of Smart From Scratch for those who wanted to go deeper. Here's how many people are enrolled in the course right now, which means I have their email. That would be amazing. Cool. A lot of people are saying social media is on the way out, and email marketing, although many people have said it's been dead for a while or it's dying, it's definitely not in my business, that's for sure. Smart Passive Income is no longer a one-man band! So if you opt into Kindle unlimited, what that means is people can borrow your book and borrow it for free. They post monthly earnings reports going back to 2008 with a breakdown of income … Discover how you can create multiple passive income streams that work for you so that you can have the time and freedom to do what you love, whether it's traveling the world, or just living comfortably at home. After Azul helped me over those hurdles and I started to gain momentum the writing flowed. Meet our trusted partners including agencies, freelancers, and more. The business-critical systems we use, trust, and proudly recommend. Thank you so much for joining me today on the Smart Passive Income Podcast. Meet the team dedicated to helping you succeed. I consider it a major success, but a lot of people have been asking me, well, how much of a success was it? This is why you need courses. When you have a book, oftentimes you might be able to sell bulk copies of your book to people who have events that you might be speaking at. Pat Flynn: And that day would be my, actually two days to record Super Fans, is I'm just in Super Fans audio book mode, no distractions. The SPI Guide to Ethical Affiliate Marketing, How to Start a Podcast in 2020: The Complete Tutorial, The SPI Essential Guide to Email Marketing, The SPI Entrepreneur’s Guide to a Successful Mindset, SPI's Guide for Staying Sane While Working from Home, How to Market a Book (Hint: It Starts Before You Write! These three powerful strategies are used by successful entrepreneurs to approach each day ready to tackle the challenges of running a business. That's unheard of. "Passive Income : From Broke to 7 Figures in 12 Months" is an aggressive 2020 step by step guide on how to create multiple Passive Income Streams from scratch (starting with no money at all), with the … Pat Flynn: Yeah, I think email is so important. Actually most of my audience has even yet to start a business and this is why I'm here. Pat Flynn: But a book is a great way to start serving people and to also build authority. And there are a lot of them. But if you weren't a super nerd fan of it like I was, AMC is the station that it was on or the channel. And those who are potentially going to promote the book. Each month I publish a report of my income, along with the activities that contributed to it. It is important to note that I do own two rental properties. For example, Korea has a really big business market, so I was able to collect a bigger advance there and it works much like a traditional book deal where I get an advance and then I don't see any more money coming in until after that advance is made back by the publisher. But this time, you've heard me talk about Super Fans and getting the pre-order for the last two and a half months. So I finished the whole thing in a month and a half. Buy From. Pat Flynn: If you do. And I'm not just saying that to toot my own horn, this is what people have said. Pat Flynn: But Poland 1,800. You get a reward. Pat Flynn: So if you haven't written a book yet, I would definitely hire somebody or look to people who have done it before, who have shared their methods. But these are things that are going to help you grow your business, future-proof your business, have a lot of fun doing it too in a way that's not gonna take away from that experience that you're offering your people. Many of you know, especially if you've been listening to the podcast lately, that my new book Super Fans is coming out next week. Superfans is coming out next week. 50 bucks per person that you bring to Audible and you have your book on there. You all told me that and that's why I wrote the book. See Pat Flynn's upcoming speaking schedule and connect with him in person. Meet the team dedicated to helping you succeed. We collected so many blurbs and gave it to so many people months ahead of time. I think we did very well and I think I earned that spot. Find out how to achieve economic growth of your business through income reports, side hustle ideas, start-up tips and more that let you peek behind the curtain to see what real passive income looks like. So I'll link to that video 'cause it's really interesting. And the reason is because they've helped me out so much. What I learned from my high school history teacher that has always stuck with me. I didn't want to just go, "Hey guys, get this other ebook." You often hear me talk about running surveys and having conversations with your audience members and your target Avatar, such that they're going to give you the language to use in your products and your emails. Pat Flynn: So you have to kind of play that game a little bit. Obviously I'm setting up Super Fans, but hopefully the information shared in the past month has been really helpful for you in giving you insight and some of these behind the scenes are really interesting as well. It says, again, this is about Will It Fly and it was a month after that published in 2016. For those on my team, it's called Will It Fly from start to finish. How easily can it be achievable? So I'm very happy with that. It is important to note that I do own two rental properties. AP 1104: When Is the Right Time to Transition from Full Time? So in addition to the share page we have a actual paper flyer that is going to be put into the book and sent to influencers and some of my friends and colleagues to give them more information on how they might be able to help out and those kinds of things. If he only had $40,000 to buy a house, he'd buy a Delorean. How much money did it actually make? Is a smart passive income possible or is it just a myth? But if any of you are thinking about writing a book, I would definitely start with, well what is the most important question that is holding your beginners, or your target audience, back? I want a specific case study that I could follow." I didn't need to hire a coach this time because I knew exactly what the problems were before and actually I combined my writing style, that helped me, which was taking the book and chunking it up into smaller, more achievable goals like individual chapters and treating them like individual blog posts. Vietnam, 1,200. Hear how Pat's story has inspired him to help others start and grow a business. Here is the breakdown of the numbers for my October 2020 Passive Income… Discover the mission, vision, and core values that fuel our purpose. It actually was a couple of days later that it was fully available and actually on the same page because it actually did go live the next day, but it was on a separate page, so I had to send people to two different places if they wanted to get the paperback and the ebook respectively. I thought they were more. Well this is a direct case of that because testing a business idea and not wasting your time and money, I didn't guess about that. But, you never know. from Start to Finish—How I Wrote a Wall Street Journal Bestseller – Part 1, Will It Fly from Start to Finish—How I Wrote a Wall Street Journal Bestseller – Part 2, The Smart Passive Income Podcast Episode 379: How Books Increase Our Authority and Leadership with Azul Terronez, The Smart Passive Income Podcast Episode 380: 5 Hard Truths About Writing and Publishing Books, The Smart Passive Income Podcast Episode 381: Self-Publishing versus Traditional Publishing, The Smart Passive Income Podcast Episode 382: The Surprising Truth about How One (Self-Published) Author Sold Millions of Books. Discover how you can create multiple passive income … What I ended up with was a 51 percent conversion rate on getting my readers’ email addresses, which lead to the creation of Smart From Scratch and all my other courses. Dive deep into all the numbers behind my 2016 bestseller Will It Fly?, from book community impact to a special companion course. We did have a share page for the launch team, but it was very basic and if I had a chance, and again more time, I would have had more robust page available for those who wanted to help promote the book. Pat Flynn: But in total we have 1,684 students enrolled in Smart From Scratch and no, not all of them have also gone through this funnel. A negative growth rate. Features of Smart Passive Income Pro. Pat Flynn: And the book was a great answer for that question because it's something that people can hold and work through, it's a system, a step by step process. The course of choice by online entrepreneurs who want the proven step-by-step playbook to launching a successful podcast. Action is the foundational key to all … And number one, responsibility. Educate yourself on the make-or-break dynamics of business. You just don't know. Meet our trusted partners including agencies, freelancers, and more. Dive into my latest income report on the SwitchPod Kickstarter, including our final sales and profit numbers, churn, our plan for retail sales, and what’s next on the physical product front. Pat Flynn: And the best part about this is yes, you're, you're probably like, whoa, that's just as much money as you made from the book. That being said, I can find some pretty creative ways to, "Hey, put your email in here to get the backstory behind this part here. He's doing better than me. I love it. And if somebody had just told me that earlier, because my course came out in 2017, I had been doing this for 11 years now without an online course for nine years. I don't know if you know this, but the book was published in Korea, Vietnam, Romania, Taiwan and Poland and a few other places, and how much money was made from that, plus money that was made beyond the book. What is that? Freshbooks is an easy-to-use accounting software designed specifically with you in mind: the small business owner. Pat Flynn from The Smart Passive Income Blog reveals all of his online business and blogging strategies, income sources and killer marketing tips and tricks so you can be ahead of the curve with your online business or blog. Learn More. Taiwan, 5,600. Pat Flynn: And so I'm looking forward to it and getting it in your hands. Read about our how our commitment to authenticity drives everything we do at SPI. I made about $100,000 in royalties from paperback and ebook purchases, while I made closer to $120,000 from audiobooks and the Audible bounty program. Explore tested strategies for personal growth in your entrepreneurial journey. Let me get that number for you. What can we do differently this time? We definitely succeeded this time around with that. So that's all related to the book and the book itself, right? See more ideas about smart passive income, passive income… Keep rocking. Because you helped frame not just the course Smart From Scratch and making that the best it can be, but making all other subsequent courses, from Power Up Podcasting to 123 Affiliate marketing to Amped Up Podcasting, even better. I'll talk about that as well. And so this book was written, it's called Will It Fly: How to Test Your Next Business Idea So You Don't Waste Your Time and Money. The course of choice by online entrepreneurs who want the proven step-by-step playbook to launching a successful podcast. Korea, $10,000. This month's passive income … If you want to go listen to it, get your subscription of Audible, you get your first month free and you can download my book first." One lesson per chapter. It was the first online course I ever created and it was created largely in part due to a number of requests from the people in the companion course. Smart Passive Income is no longer a one-man band! So the book is currently published in six different countries right now. So less units sold, more income, 62,000. On August 13th Super Fans will be shared with the world and I'm so excited and I'm so nervous and I'm just so thankful for everybody who has helped support it already. 26,680. that's a 51% conversion rate. Pat Flynn: He's crushing it right now. Now, I wouldn't collect emails in the middle of a book. It has helped me start my business. If you want to send it publicly, cool. Here we go. I didn't have a full manuscript available until January 1 to give to the launch team. We'll have all those links in the show notes for you. For example, all this stuff with the Kindle launch wouldn't have happened if we had given ourselves adequate time to get that uploaded. And there's an audio engineer that's there by my side or in the other room to catch my mistakes. Pat Flynn: But I trust my agent and I trust the publisher that we signed with. Use our free resources to help maintain your business. I mean, we're at about a quarter million dollars now since writing this book and I'm just so thankful for that. Welcome to my December 2017 monthly income report!We’re well into January now and things are flying over here at SPI headquarters. First of all, 50% conversion rate from the book and then 100% conversion rate from the book into the course. Cheers. And now lately any income reports that are published on the site are more in depth. Income Report: 3 Ways My Podcast Makes Money (And How You Can, Too), Income Report: This Game-Changing Tool Helped Me Earn 6-Figures, Income Report: Inside a 5-Figure JV Affiliate Promotion. Smart Passive Income … That was episode 381. Interestingly enough, very similar to the number of ebook units sold. I've taken all that data and I want to share it with you all today as I've learned about this very recently, just I hadn't gone back and actually kept track in such a detailed manner. Each month I publish my income, along with the activities that contributed to it. Pat Flynn: Now, interestingly enough, the one that it's picking up in the most is in Poland. And I ended up position number seven after a week of selling, I think 7,400 just to give you some benchmark there. It's helped me get started. Pat Flynn: And also another thing, I was very thankful that I looked back into my archive and in March, 2014 this was about a month after Will It Fly published, it was a very detailed, very detailed here's what worked and here's what didn't and I'm looking through this. Let’s take a look at its features. Our popular courses that empower you to learn at your own pace. Now let's also talk about bulk paperback sales. Pat Flynn: Wow. The Smart Passive Income Guide: How to Successfully Create Passive Income Streams with a Growth Mindset Audible Audiobook – Unabridged Bruce Walker (Author, Publisher), Gene Blake (Narrator) … You might come out during the same week of 10 other gigantic books from gigantic authors and you just have no chance. And that's definitely the biggest one. Are you on a walk? Which is why I think if you don't have the audio book already reserved for Super Fans, which you can only get by pre-ordering Super Fans now, with getting your pre-order in and submitting your receipt at yoursuperfans.com I mean, please do that. So it's lower than $5 per because of the Kindle stuff and there were more units sold in the Kindle space, but definitely got it in front of more people. Make rapid progress by enrolling in one of our small, live training workshops. And I know a lot of you are self-published authors or soon to be self-published authors, or you might be weighing the pros and cons of self-publishing versus traditional publishing, which we talked about a couple episodes ago. I got the companion course, but I want more. And those are the four lessons. And if you do want to support it still, you can obviously share it with people, but better yet you can actually get the audio book for free if you pre-order the book on Amazon and submit your receipt at yoursuperfans.com before the launch date. The earnings I made creating courses for that audience. But we did it. Some are just links to YouTube videos that relate to things that I mentioned. Pretty amazing. There's a part one and a part two. This is why I continued to write it even though it was hard. So total so far, $244,032.29 cents. Read special announcements, one-off blog posts, random musings, and more. Pat Flynn: But today we're going to dive into the income of Will It Fly. So total that's about 95,000 for those combined. And it was really cool. Discover what it takes to publish a book you can be proud of. Pat Flynn: That is you. And this is why these reports are really key and why I'm really excited about these kinds of income reports that are now living on SPI. Smart Passive Income is no longer a one-man band! A powerful tool designed to help you to learn more about your audience and tailor your message. Smart Passive Income is no longer a one-man band! I would give myself and my team more time. Discover what it takes to publish a book you can be proud of. So I hope you listened to both of those episodes. Can it be permanent? And it's funny because you'll hear in that interview he didn't sell very many at first. In 2017, Flynn reports a total of $2.1 million in passive income… And how does that income break down? So if you get your book on Amazon KDP, Kindle Direct Publishing, you have the option of also for free getting your book for print, which is really, really cool. Meet the team dedicated to helping you succeed. Pat Flynn: It's important to look back when you're doing something repetitive. This is something I talked about in episode 380, we talked about it in episode 379. Nice work on that front as well too. Welcome to my November 2017 monthly income report. I am just the team captain, but you get chances to score and I pass you the ball every once in a while and this is what it's about. Pat Flynn: I mean if you had offered me a $200,000 advance up front for this book, I probably would have taken it because it was three years ago and I didn't really understand the power of self publishing, the power of building an audience, the power of having a book that spreads itself because of just how useful it can be. And Poland, 1,800. Pat Flynn: But anyway, $32,893.93. I'm just going to tell you it's about email so just keep that in mind. So you have to base success off whatever you feel success is for you. And it's why things like my income reports and going back into time and listening to my old podcasts or reading my old blog posts and thinking about how far I've come so that I can become better as I moved forward into the future, it's just so important. School yourself on the why, how, and what of online course creation. What went well? My Name is Pat Flynn. Pat Flynn: I think you're gonna enjoy the stories in the book. It helped that I had a coach before. How did it go last time? You're going to hear me talk more about emailing in the upcoming months because it is something that is so important now, especially with social media and algorithms getting in the way. So there was a big drive to push the ebook sale upfront, which definitely helped because I landed a Wall Street Journal Bestseller list spot based on my ebook sales, which was really cool. Discover the mission, vision, and core values that fuel our purpose. Oh no, that was five. Bruce Walker (Goodreads Author), Richard Grande (Editor) 3.20 … Learn how to harness the popularity of podcasting to power your brand. This time I think we collected like 2025 blurbs and we had so many that we didn't include all of them in the book. In November, I earned $381.42 in dividend income… And that's where Will It Fly came from. I want to go more in depth. October 2020 Passive Income Report Monthly Passive Dividend Income. I don't know what you think that is in terms of whether you think that's a success or not, but to me it is. And so my royalties over the last three years from Kindle unlimited is $4,087.88 cents. It's sort of a no brainer, especially if you're a podcast, oh my gosh, your listeners love to listen, right? I wanted something that was very high quality, something that would be an obvious, and it was mentioned at the beginning of the book. They might buy copies for their employees or even some of their customers, which has happened before, which is really cool. But the outline had definitely been worked on for quite a while. But I had no idea it was going to break 50%. I'm there with you. Just thank you, number one, for all the support. But that’s not all. Wow. But you can do it yourself. Pat Flynn: There's something called bounty. And we want to compare this to, well, how does this compare to, if I were to take an advance, for example? Self published and millions of copies. I have a course called Smart From Scratch. This goes back to history. But in these different countries, depending on on the advance and what they think it'll do and the market that's out there, every market's different. $224,000 three years later. Pat Flynn: Number five, I would collect blurbs. This book has definitely landed me on a number of stages, on a number of different podcasts. Pat Flynn: This is why we do what we do. Anyway, they had this thing called the AMC Walking Dead Story sync where while the episode was playing you can go to this website and it would in real time with the episode show you other information, to add on to the scene, behind the scenes information, other things that you may miss. I was able to get some people to read the book and collect blurbs, which you can see on Amazon. So if you have your book on Audible, which if you want to get your book on Audible, go to acx.com also put a link in the show notes for a video that I did where I showed you behind the scenes of what it was like to go into a professional recording studio to record that audio book and what it's like. AP 1112: How Do I Grow My Podcast From a Hobby to a Business? With Will It Fly, it takes a lot longer for the process to work and for that reason it doesn't pick up steam quite as fast, but it's still getting out there, which is amazing. Which I offered and the way that all my courses are now are a result of the way people had asked me courses to be back when Smart From Scratch was starting. Pat Flynn: So total book earnings from this is a self published book. Thank you so much, team Flynn, yoursuperfans.com, I appreciate you. Team Flynn for the win. And so the overall income coming from that, based on those different price points, from 2.99 to 6.99, I don't think I ever went above that. 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