Is your podcast a hobby or a business?

Hey Pod Pals!

This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 9:00am CST.

I've got the kids fed and off to school and I'm ready to write!

I'm hearing that the snow-pocalypse is coming to St Louis this weekend so I'm going to knock out this newsletter and head to the grocery store before it gets too crazy!

Real quick before we dive into this week's topic.... ⤵️  

I love helping my clients simplify set up a simple strategy to turn their CONTENT into CLIENTS.

If you feel like you are ready for some help with your podcast listener to client conversion strategy hop on my Podcast Profit Potential Discovery Call calendar.

⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ 

 

This week I'm going to dish out a little "tough love" chat about how you are approaching your podcast.

What I'm about to say is going to ruffle a few feathers...but it needs to be said.

Just remember that I view myself as a coach/mentor of ALL of you and it's my job to gently nudge you outside of your comfort zone.

➡️ I realize that many podcasters start out with their show as a side hustle....the only issue is that many podcasters are treating it more like a side-HOBBY.

I'm hearing statements like the following a LOT more frequently:

"I'm definitely going to invest in XYZ once my show starts generating money."

Most of the time we aren't even talking about spending thousands of dollars on a coaching program.....we are talking about things like paying $19 a month for podcast hosting.

 

If you are a podcaster that is ready to level up your level of seriousness around growing your audience and making a real business out of it here is a little checklist I put together to help you move from Hobby Mode to Hustle Mode.

1) Understand the concept of startup costs and invest in the basics.

Too many podcasters are waiting for their show to magically make money FIRST...so that they can then invest back into their show.

Reality Check ➡️ This is NOT how business works.

One of the first things I did as I considered launching my first podcast in 2014 was to invest $2,000 of my own money into a program called Experts Academy with Brendon Burchard.

This program was extremely helpful in speeding up my learning curve as I became a content entrepreneur.

Here are a few basics that are WORTH paying for from the start:

✔️Paid podcast hosting.

The two platforms I recommend most are Libsyn and Buzzsprout. You will get better analytics, distribution, and customer service compared to the freebie accounts (Spotify). 

✔️Calendar/Scheduling platform.

I use Calendly for scheduling interviews, coaching calls, and workshops.

When someone asks me to be a guest on their show my response is always "Sure, just send me your scheduling link and I will grab a spot."....if they don't have a scheduling link I will not go on their show because this signals to me that they are doing this as a hobby.

✔️Recording/Editing platform

I recently switched from Streamyard to Descript because I'm mainly doing solo episodes and I didn't need to pay for all the video based extra features. 

✔️Mentorship/Coaching

Shameless plug....most of my coaching clients don't start earning meaningful income from their show until AFTER they hire me to help them figure this out.

I've got programs for growth and monetization that start at the $297 price point...so you still don't have to break the bank. 

When new podcasters ask me for some advice I will regularly say something like:

"Don't spend $500 on a mic. Instead buy the $97 mic and invest the rest in platforms for hosting/scheduling/recording and invest in coaching."

 

2) Create a set work schedule for your side hustle.

If you try to squeeze your content entrepreneurship tasks into the cracks of your day you are going to FAIL.

Once I had launched my first show in 2015 I blocked off a 90 minute window in my calendar every Tuesday afternoon. I put barbed wire fencing around that 90 minute window and NOTHING was allowed to get in.

As my show/business started to grow a bit I expanded my time block to 1/2 day, then a full day, etc. 

There should be TWO key tasks that you should use this time block for each week:

✔️Create enough content so that you can comfortably release one episode per week.

✔️Create assets that will allow you to effectively promote your episode when it goes live each week.

If you've got extra time I would then work on these two items:

✔️Write a weekly newsletter.

✔️Create a minimum viable offer that you can sell to your audience (eventually). 

 

3) No more putting out RANDOM content.

If you want to get serious about being a podcaster you have to level up your mindset around the content you are putting out into the world. 

You should be asking questions like:

-What is the purpose of this episode?

-How does it serve my audience?

-How does it serve my business?

 

 

4) You must have an effective promotion strategy for when you release a new episode.

I push my clients to promote each new episode with FIVE unique promotion assets over the first 72 hours that an episode is live. 

You should be asking questions like:

-What platforms do my potential audience members hang out on?

-What type of content does well on these platforms?

-Do I have the skill/capability to create the type of promo content that does well on my target platform(s)?

 

5) You must start building your email list.

I think the absolute simplest way to do this is with my Podcast + Newsletter strategy. This allowed me to ditch ALL of my lead magnets/email funnels that tend to confuse most new podcasters. 

Many podcasters wait to start sending a newsletter until they have a "bigger" list...again...this is backwards thinking Pod Pals!

I started sending out this very newsletter in 2018 to just SEVEN subscribers! Now there are 4,000+ getting this email every Thursday.

 

6) Set up your business financial basics.

Here is the quick checklist:

-Set up an LLC/S-Corp.

-Set up a business checking account.

-Get a business credit card (rack up some POINTS!)

-File/pay your TAXES!

 

OK Pod Pals....I hope that I didn't ruffle too many feathers....and that a few of you decide to implement these strategies one by one and level up your seriousness about achieving your goals with your show!

  

 ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ 

 

🤩 Client Testimonial of the week: My client Ruth Soukup has a show called Feel Better. Live Free.

Check out what she has to say about doing 1:1 consulting with me to develop her podcast growth strategy: 

"I decided to work with Adam because I really appreciated his ability to look at big picture strategy. I love working with someone who can really dig deep into why your doing something and make it work for what your objectives are. He's been so helpful with developing our podcasting strategy!"

Ready for some help with learning how to double your podcast audience size? Hop on my Podcast Profit Potential Discovery Call Calendar.

 

 

New Content for this week:

🎙️ Podcasting Business School EP 605: How my newsletter became the most important part of my online business strategy.

In this episode I unpack my Podcast + Newsletter Strategy that has become SO effective for me!

Learn how to build expert positioning, deliver added value (not just promo material!), and get more clients.

 

🚨Upcoming FREE Workshop: Ten mistakes that will hurt your podcast download numbers.

Join me live on January 28th.

⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ ⭐️ 

 

❤️ If you have been enjoying my newsletter I'd really appreciate it if you would share it with one of your Pod Pals that might get value out of this content!

Just hit that FORWARD button and share it out! 😎

If someone forwarded you this email you can CLICK HERE to subscribe and get a fresh newsletter from me every single Thursday.

Talk to you next week!

Your Pod Pal,

Adam

 

⭐️ P.S. Ready for some help with your podcast launch, growth, or with getting more clients from your podcast? 

Hop on my calendar for a Podcast Profit Potential Discovery Call and we can discuss how we can work together.