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Now is really a good time to start a passive income business if you don’t already have one.
The US GDP is going to contract by -57% in the 2nd quarter of 2020 due to the pandemic. This is affecting a lot of businesses and people’s jobs.
In light of these uncertain economic times, here are my top 3 podcast recommendations that really inspired me to start my own online passive income business.
1. Entrepreneurs on Fire
It all first started when I was looking for a good podcast to add to my repertoire.
Back in 2014/2015, I spent a lot of time driving to and from work, so I listened to a lot of podcasts. As I was flipping through some options, I came across Entrepreneurs on Fire (EoFire).
Actually, the combination of EoFire and the Startup podcast (where the company that was founded and documented in the Startup podcast was later sold as Gimlet Media) is what inspired me to write about How to Value a Podcast.
EoFire gets more into what inspired the entrepreneurs to start a business and what their different sources of revenue from the business are.
The episodes aren’t an exact recipe to start a business, but listening to how these entrepreneurs got started and that they are living proof of success built on sweat equity shifts your mind into thinking it’s possible for you too.
2. Smart Passive Income
Listening to John Lee Dumas of EoFire interview entrepreneurs and how they got started led me to become a devoted listener to two other crucial podcasts.
One of which is Pat Flynn’s Smart Passive Income(SPI), one of the O.G. passive income gurus out there.
I came across his long time blog and started becoming obsessed with how to be ridiculously successful building a passive income business online.
I really like his blog and podcast for the reason that he doesn’t hold back on giving thorough advice on how to do something.
You’ll find SPI to be useful mainly in the domain of making passive income from building a website. And if this is what you’re looking for, you’ll find gold reading and listening to Pat.
3. Side Hustle School
If you’re looking for a vast number of ideas to choose from to start your own business, then Side Hustle School is the podcast to listen to.
I got hooked on listening to Chris Guillebeau’s daily 8 minute dose of side hustle ideas. It’s an amazing place to get inspired.
Each episode is about an entrepreneur who started a side hustle without quitting their job and grew it to a successful business. Most of these businesses are passive and bootstrapped.
You hear a vast number of business ideas and because Chris has been putting out a new episode about an entrepreneur and their business everyday for a few years, there’s well over a thousand episodes to get ideas from.
If you don’t have the patience to listen to over a thousand episodes to get inspired from, then his books might be a better source for you to get ideas from.
Chris’s book that I particularly like is the 100 Side Hustles. (The hardcover book has pictures on high-quality paper if you like physical books.)
The book features 100 side hustles from past episodes of the podcast that Chris hand-picked as his favorite.
There are a lot of really great ideas that you can relate to, and there’s a good mix of digital side hustles and also physical hands-on side hustles.
Best of all, many of these businesses started with less than $100 and with everyday skills that you already know how to do.
Once You Know Your Business Idea
Once you have an idea but you don’t know where to start, Chris’s book, Side Hustle: From Idea to Income in 27 Days is a good starter book.
Don’t expect this to be the holy grail that launches your new side hustle, but it’s a good start.
I hope you all stay safe and healthy, and that you’re able to get a side hustle started so you can have another source of income.
I’d love to hear what your top 3 entrepreneurial podcasts that helped you launch your side hustle or business. Please share in the comments below!