160: Turning a Service Business into a Passive Income Stream

The Side Hustle Show

Nick Loper

Business, Education, Entrepreneurship, How To

4.7 • 1.6K Ratings

🗓️ 25 February 2016

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

A couple months ago, Matt Bochnak sent me a note about his motorcycle repair side hustle. As someone who is, shall we say, less-than-savvy when it comes to mechanics, I was impressed. But Matt shared that the passive income from this service business now actually exceeds his revenue from "turning wrenches."

Full Show Notes and PDF Highlight Reel: From Active to Passive Income with a Service Business

Don't Miss our Follow-ups with Matt:

Part 2: Episode 354 up to $5k a month

Part 3: Episode 484 up to $20k a month

Transcript

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0:00.0	Side Hustle Show 160, turning a service business into a passive income stream.
0:04.4	Welcome to the Side Hustle Show.
0:07.8	Where aspiring part-time entrepreneurs learn how to turn their
0:10.8	side hustle dreams into reality.
0:13.5	Because your 9 to 5 may make you a living,
0:15.8	but your 5 to 9 makes you alive.
0:18.5	And now your host, Nick Loper
0:28.0	What's up? What's up? Nick Loper here. Welcome to the Sidels show My guest today has all the outward appearances of a normal life. He's got a full-time job as a mechanical engineer. He's got a wife, three kids, a house,
0:36.0	but he's also got a pretty cool side business repairing motorcycles in his spare time.
0:41.0	Now, we're going to get into how Matt Boekknock went about
0:45.7	getting clients for that service business which I think will parallel many other
0:49.6	types of service businesses or freelance businesses but where this side hustle gets exciting is how
0:54.8	he's turned that service business into a passive income stream by selling video tutorials
1:00.0	to people who want to do their own repairs. It's turned a local business global and a
1:04.8	time for money business into a more time leveraged one. Now people always say, you know, turn your
1:09.2	customers questions into content and here's a real example of someone doing just that. You can learn
1:14.3	more about math's operation at a Chicago plan motorcycle repair.com and
1:17.8	how to motorcycle repair.com. Notes and links for this episode are at
1:22.0	side hustlelation.com
1:23.0	slash bikes, where you'll also find a free
1:25.6	PDF download with all of math's top tips from this call.
1:29.0	And I want to take a moment to thank today's sponsor, which is
	...

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