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Generally individuals begin podcasts out of curiosity, the necessity to flex a inventive muscle, or the drive to inform their story. However what occurs after that preliminary experiment could be highly effective: podcasting can create transformative enterprise development and constant revenue.
When individuals consult with podcasts as a ‘passion’, they’re lacking a lot about what they’ll do for the entrepreneur, inventive, side-hustler, storyteller, and ideator. In truth, podcasts generated over $2 billion in ad revenue in 2023 alone.
The facility of podcasting is actually not misplaced on me. What began with a nudge and a microphone from my older brother turned an outlet for me throughout a really lonely season of entrepreneurship. It has additionally changed into the #1 factor I’m identified for, The Goal Digger Podcast.
I pressed that ‘file’ button from the entrance seat of my automobile in my storage (so nobody may hear the canines barking in the home) and revealed my first few episodes. I felt like I used to be throwing a foolish concept into the ether and hoping at the least one individual would hearken to it. I didn’t even take into account the methods it might assist develop and help my enterprise.
110+ million downloads over 800+ episodes later, I’ve witnessed simply what constant podcasting can actually do.
Let’s dive into the journey of what it seems wish to go from that preliminary spark of curiosity and the publishing of your first few episodes to constructing a 7-figure enterprise with podcasting.
A fast spoiler right here: This gained’t require burnout. It additionally doesn’t imply you’ll must shift who you might be, what you do, or change into a very completely different human to see success.
Podcasting for Enterprise Progress: How I Constructed a 7-Determine Enterprise Whereas Staying True to Myself
The Starting of the Podcast Journey
Regardless that I used to be within the thick of operating my pictures enterprise whereas getting my digital advertising enterprise off the bottom, I used to be apprehensive about beginning a podcast. I joked about how nobody wished to listen to my voice or study from me!
However I couldn’t shake my curiosity. Then my brother gave me his previous microphone and I felt like all my excuses had lastly run out. What did I’ve to lose? So, I began scared.
I wouldn’t take into account myself tech-savvy, so in these first few episodes, I ditched the professional microphone and used my iPhone headphones and my dependable Midwest cellphone voice, following a light-weight define I’d jotted down for myself with about six completely different rewrites. I used to be frightened I might run out of issues to say.
Even after I completed recording, I couldn’t carry myself to hearken to it. I promised myself I might attempt. I didn’t need myself to get in the way in which of that.
From there, I began recording in my coat closet (a pleasant step up from the automobile), studying my very own stream and luxury behind the microphone. I challenged myself to start out asking for viewers questions on my Instagram and welcoming them to return subscribe to the present with rising confidence.
I sought out podcast friends and stayed per my posting schedule. Ultimately, I discovered a rhythm, constructing my present into what Aim Digger is at this time.
It may be laborious to know the place you begin with your personal podcast. I felt a bit of misplaced in all the main points once I first began too. I pressured about nailing the suitable intro and sign-off for longer than I’d wish to admit.
As an alternative of copying anybody else’s actual strategy, what is going to assist your podcast be one thing you want doing for 100 or 1000 episodes is to ensure it aligns with you. And keep in mind, you’ll be able to change the whole lot as you study and develop. You’ll evolve (I certain did), so don’t stress your self to get it proper on episode one.
Staying Genuine in a Sea of Noise
One factor that has stayed pretty unchanged from the start for me was who I wished to be as a podcaster. I used to be decided to be me. I didn’t need fluff or a present that felt like a time-waster. And I wished my listeners to at all times know they have been getting a real reflection of my character and values. I’ve by no means shied away from the true speak.
I’ve cherished on-line studying for a very long time, so I envisioned each episode of my podcast as a possibility for my listeners to study. Charting out my episode outlines was so much like planning a free masterclass each week. I wished the specialists on my present to shine and be seen for who they are surely, too.
Ultimately, I spotted I wished to share my very own ideas and insights, so I launched solo exhibits. I’ve expanded from sharing primarily about digital advertising and enterprise to opening up about different points of my life, like seasons of navigating burnout, pivoting the enterprise, motherhood, and loss.
I wished to have a greater reference to my listeners (since a podcast can really feel one-sided nearly at all times.) So, I launched a Fb group for my podcast listeners referred to as Goal Digger Insiders. That group is sort of 65,000 listeners robust.
My neighborhood comes collectively to not solely discuss what they’re studying by means of the podcast, however they’re additionally an enormous useful resource for one another. By years of suggestions and the standard web playground of pals and critics, I discovered the right way to discover a stability between listening to what my viewers wished extra of and staying true to my voice and imaginative and prescient.
Constructing a Podcasting Circulate for Sustainable Enterprise Success
As a busy entrepreneur, I knew I didn’t need podcasting to change into a tangled, logistical mess. I craved a inventive outlet, not a dreaded dedication each week.
Making a course of that match into the stream of my week and labored effectively with my power and schedule turned a fast precedence. I knew that juggling recording, scheduling friends, publishing episodes, social posting, and the whole lot else may rapidly burn me out.
Whereas my podcast began with simply me, I finally added one group member. This helped me maintain the system I constructed operating, evolving, and feeling like a enjoyable problem for us by means of the seasons.
It’s solely ever been simply two individuals operating it: me and my podcast producer who’s actually managing the complete present. It’s by no means been a giant crew or a sophisticated manufacturing. I get to indicate up, speak right into a mic, meet wonderful individuals, and we get to share these episodes with the world. That was and nonetheless is the purpose and that’s why I created a easy system for us to observe.
Podcasting for Enterprise Progress and Evolution
Whereas my core imaginative and prescient for Aim Digger hasn’t modified over time, nearly the whole lot else has. From our posting frequency to the form of individuals I search out as present friends to our branding, intro and outro, and the subjects we cowl!
Moderately than huge, sweeping adjustments, we adapt in small methods as we go. I don’t wish to get caught in a rut for therefore lengthy that we worry change, so as a substitute, we make it a behavior to examine in and make fixed little tweaks to maintain ourselves agile. On high of that, the small adjustments maintain the work we’re doing feeling recent and thrilling!
Keep open to suggestions, whether or not that’s internally together with your group, out of your listenership, and even your intestine telling you one thing isn’t fairly proper. The best way your present must evolve won’t at all times be apparent or come from the most recent podcasting stats. Your present may want to vary in methods which can be wholly distinctive to you. Perhaps you’ll be the primary individual ever to do what you do in your podcast!
That’s thrilling, however you gained’t study what that’s in the event you don’t pay attention.
And in that course of, don’t be afraid to attempt that new factor. Podcasting is and can at all times be primarily experimental. Attempting new issues is central to the form of artwork kind that podcasting is. If that new factor does not work, I might nonetheless rely that as a hit for making an attempt, studying, and pivoting.
Avoiding Burnout and Sustaining Stability
A lot of the 800+ episodes of Aim Digger have been recorded in my messy closet. I didn’t hit episode 100 and spend money on a studio or stress myself to vary simply because ‘that’s what success seems like.’ I felt the success of my podcast by means of the information and influence on my listeners.
I didn’t wish to waste power making an attempt to make my present look profitable once I’d relatively funnel it into the episodes and conversations themselves. My power is a beneficial useful resource and I wish to spend it the place it actually counts.
Whereas I like my podcast, it’s nonetheless only one side of my enterprise as a complete, so it really can not take up all of my time. That’s why making a system is so essential.
I set boundaries round how and once I would file my present. I prioritized relaxation whereas carving out targeted time to batch-record our episodes. I have a look at one month at a time and lean into what feels thrilling for me in that month in order that our content material feels recent, alive, and related to the time the episodes are being aired.
Defending my power means I get to take a seat down and be in the suitable headspace each single time I hit the ‘file’ button. I really feel current for my present friends and our conversations get to be real relatively than rushed or jumbled. I’m able to be mentally on monitor for my solo exhibits, which retains me engaged. The extra engaged I could be, the extra assured I really feel about each episode that goes stay.
My ardour for podcasting could be protected and fostered by good boundaries round my time and power. I get to indicate up, pour out, and stroll away understanding we’re creating one thing we’re pleased with each time.
We’re not burdened or pressured by making an attempt to do all of the issues, which is definitely what has allowed me to show my podcasting concept into a serious, profit-driving department of my enterprise. Boundaries are what make room for fulfillment.
Monetizing Your Podcast: Considering Past Sponsorships
It’s simple to imagine that sponsorships are the primary method podcasts can revenue, particularly since as listeners, we’re used to listening to a barrage of adverts (relying on the podcast.)
Sponsors are essential and efficient however don’t must be the solely method a podcast can monetize. I’ve examined and tried a number of dozen methods of bringing in earnings by means of the podcast, and a handful have risen to the highest as my trusted monetization methods.
You possibly can leverage your podcast into a mess of profit-generating channels.
Discuss your personal business offers (paid or free) to show your listeners into patrons, or at the least email subscribers you’ll be able to promote to later.
You should use affiliate links and codes to generate earnings by speaking about services and products you’ve examined and love.
You possibly can launch a membership or Patreon neighborhood the place you share distinctive content material that your listeners and followers can’t get anyplace else.
In terms of monetizing, I like to recommend weaving two or extra of those strategies collectively in order that the trouble that goes into each episode has a multi-level payoff for you in the long term.
As you construct long-term consistency together with your present, you’re not simply holding your listeners blissful, however you’re establishing credibility, too. When different alternatives come knocking, you’ll have your podcast to assist present what you’re actually about.
Your experience can actually converse for itself whenever you’ve been leveraging it for lots of of episodes over a number of years.
Podcast Success Occurs One Episode at a Time
Each time I sit down at my desk on a podcast recording day, I smile enthusiastic about how I nearly didn’t begin this present. I snicker as a result of I can’t imagine I get to do this as a job. I’m relieved that this not solely turned out to be a inventive outlet for therefore a few years however that it additionally turned a chart-topping present.
It wouldn’t have occurred if I didn’t publish episode 1. After which 2. After which 3. And it might’ve fizzled out lengthy earlier than I noticed success if I hadn’t chosen to remain true to myself and my imaginative and prescient the entire method by means of!
Whereas the street could look lengthy, I can say that every one these years of podcasting felt far too fast. I usually really feel like I blink and we’re one other 100 episodes alongside, celebrating yet one more milestone.
If you happen to’re on the beginning line (or merely within the curious part) of your personal podcast, keep in mind to maintain celebrating your personal milestones. Which may imply shopping for your first microphone, ending your first episode, getting your first overview, or having your first podcast visitor.
Constructing your present to a 7-figure success or no matter ‘success’ authentically seems like for you takes time. It takes doing it scared generally. It takes dedication to the consistency. It takes defending your boundaries, time, and power so to maintain shifting ahead.
It means being intentional with who you’re employed with, how you propose your ‘system’ for podcasting, and the way you evolve. And it takes getting good with the way you layer your monetization in order that your podcast can gas your small business … or change into your small business.
Can I aid you flip your podcasting curiosity or present present into podcast success (with your personal definition of success main the way in which?)
Try my free podcasting masterclass, Podcasting 101: How to Start, Record, and Profit from Your Show. On this free masterclass, I will present you the right way to begin, develop, and monetize your present — no fancy tech or large viewers wanted — so you’ll be able to flip your ardour into a robust platform!
